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Market research analysts at Technavio have predicted that the surgical navigation systems market in the US will grow steadily during the next four years and post a CAGR of almost 6% by 2020. This market research analysis identifies the increasing popularity of minimally invasive surgeries as one of the primary growth factors for the surgical navigation system market. Owing to the increasing complications involved with open surgeries and the slow post-operative healing, there has been a rapid increase in the adoption of minimally invasive surgeries. With advanced intraoperative imaging system and wide high-resolution monitors, surgical navigation systems help surgeons easily perform minimally invasive surgeries. The rising prevalence of diseases such as cancer, arthritis, and cardiovascular diseases (CVD) that require surgeries coupled with the increased awareness towards the benefits associated with minimally invasive surgery such as improved clinical outcomes and reduced hospital stays will drive the demand for surgical navigation systems in the coming years.
One of the major trends that will gain traction in the surgery navigation systems market is the use of frameless stereotaxy for intracranial procedures. By providing real-time updated information to neurosurgeons about the location and trajectory of the lesion, frameless stereotaxy increases the chances of complete lesion resection. This will allow a smaller skin incision and reduce the risk of venous sinus injuries, which will be a significant benefit during cranial surgeries.
The surgical navigation systems market in the US is characterized by the presence of several medical equipment companies and appears to be highly fragmented. With all vendors competing to gain significant market shares, the market is highly competitive. The large (tier 1) and medium (tier 2) companies account for the major revenue shares and currently dominate the market. With an increase in technological advancements and product upgrades the level of competition among the market players will further intensify in the coming years.
The leading vendors in the market are -
The other prominent vendors in the market are Blue Belt Technologies, CAScination, Cirle, Claron Technology, ClaroNav, Collin Medical, Fiagon, Heal Force, Karl Storz, Masmec Biomed, Medacta International, Micromar, Navigate Surgical Technologies, NDI, Omnilife Science, OrthAlign, Scopis, Shenzhen Anke High-tech, Siemens Healthcare, SonoWand, Synaptive Medical, Xion Medical, and Zimmer Biomet Holdings.
During 2015, the neurosurgery surgical systems segment accounted the major shares and dominated the surgical navigation devices market. These surgical systems are mainly used for surgeries in cranial tumors and neurological disorders. The increasing number of patients with brain and central nervous system cancer which will result in the rise in number of surgeries will propel the market’s growth prospects in the coming years.
This market study estimates that in terms of end-users, hospitals were the major revenue contributors to the market during 2015. With state-of-the-art medical infrastructure, multi-specialty hospitals offer a large number of inpatient and outpatient services. The increased usage of surgical navigation technologies as supportive systems for surgeries and the rise in number of chronic disorders that demand surgeries will drive market growth in this segment in the coming years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by end-user
PART 08: Cost analysis of surgical navigation systems
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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