Home >> Business >> Surgical Navigation Systems Market Is Expected To Reach US$ 1,166.6 Mn By 2027 | Credence Research

Surgical Navigation Systems Market Is Expected To Reach US$ 1,166.6 Mn By 2027 | Credence Research

The latest market report published by Credence Research, Inc. “Surgical Navigation Systems Market By Application (Neurosurgery Navigation Systems, Orthopedic Navigation Systems, ENT Navigation Systems, Dental Navigation Systems, Cardiac Navigation Systems), By End User (Hospitals & Clinics, Nursing Homes, Ambulatory Surgical Centers) – Growth, Future Prospects & Competitive Analysis, 2019 – 2027” the global surgical navigation systems market was valued at US$ 732.0 Mn in 2018 and expected to reach US$ 1,166.6 Mn by 2027 at a CAGR of 6.0% during the forecast period from 2019 to 2027.

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Market Insights

The global surgical navigation systems market shows productive growth during the forecast period from 2019 to 2027. Surgical navigation systems technology support in the treatment of numerous ENT disorders, cardiovascular, neurovascular disorders, stroke and orthopedic surgical procedures. Rising elderly population, advancement in top quality systems, development in minimally invasive surgical procedures along with enhanced techniques are factors driving the market on a global scale. Neurology surgical navigations systems segment holds the major share in the global market in 2018.

New product launches will boost the market growth during the forecast period. In March 2016, OrthAlign, Inc. launched the first handheld navigation device utilized in orthopedic industry, mainly for knee arthroplasty. Additionally, in January 2017, Philips developed and designed the first augmented-reality surgical navigation system with advanced technology to help the surgeons in image-guided open and minimally invasive spine surgery. In Sep 2017, Medtronic plc. launched StealthStation ENT, a new surgical navigation system for ENT surgeries, thus escalating its new product portfolio on a global scale.  

High costs of systems along with surgery, lack of professionals, less awareness and less technology expansion in the emerging nations along with unstructured reimbursement are few factors limiting the market growth globally. The market in Europe and Asia Pacific is witnessing steady growth. Additionally, noteworthy utilization of navigation systems for neurosurgery, orthopedic and ENT will further drive the overall demand on a global scale.

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Key Market Movements:

  • Globally, the surgical navigation systems market show productive growth with a CAGR of 6.0% for the period from 2019 to 2027
  • Based on the application, the ENT navigation systems segment shows productive growth with increasing sales in the end user industry
  • Increasing number of ambulatory centers and hospitals, availability of advanced technology with enhanced applications, and growing medical expenditure in the emerging nations will further spur revenue growth of the surgical navigation systems market globally
  • Major players in this vertical are Stryker Corporation, Medtronic plc, B. Braun Melsungen AG, Siemens Healthineers, DePuy Synthes, Fiagon GmbH, Brainlab AG, Zimmer Biomet Holdings, Inc., GE Healthcare, Omni Health, Inc. and others

By Application (2017–2027; US$ Mn)

  • Neurosurgery Navigation Systems
  • Orthopedic Navigation Systems
  • ENT Navigation Systems
  • Dental Navigation Systems
  • Cardiac Navigation Systems

By End-user Segment (2017–2027; US$ Mn)

  • Hospitals and Clinics
  • Nursing Homes
  • Ambulatory Surgical Centers

By Geography Segment (2017-2027; US$ Bn)

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Latin America

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