Surgical Navigation Systems Market Expected to reach $1755.67 million by 2030 | CAGR of 6.4%

According to a new report published by Allied Market Research, titled, “Surgical Navigation Systems Market by Technology, Application, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global surgical navigation systems market size was valued at $940.68 million in 2020, and is projected to reach $1,755.67 million by 2030, registering a CAGR of 6.4% from 2021 to 2030.

A surgical navigation system is used to guide the surgeon's movements during an operation. It displays the real-time position of each instrument and anatomical structure. These systems are used in orthopedics, ENT, neurology, and other surgical specialties. Real-time observations are via MRI, scanner, video camera or other imaging processes. Navigation data are incorporated into the image to help the surgeon determine precise position within the patient.

Medical imaging is sometimes used to plan an operation before surgery. Data integration enables the system to compare the actual position of the target object with the ideal location established during the planning phase.

Such systems may be mechanical, electromagnetic, or optical. The most common are optical devices, either passive or active. In the former, cameras locate specific markers such as reflective targets, particular shapes, or colors. Active systems locate LEDs.

The major factors that drive the growth of the surgical navigation systems market include rise in adoption of minimally invasive surgical procedures; growth in number of regulatory approvals, partnerships, agreements & collaborations among market players; increased incidence of orthopedic & neurological disorders; and high prevalence of ENT disorders are expected to drive the market growth. Moreover, the surgical navigation systems market has experienced a diversified growth in all its segments and the key driver in respect of this increased growth has always been the technological advancements in the field of surgeries, which has helped the surgical navigation systems market to gain and hold a majority share in the global markets. Surgical navigation technologies have helped the medical profession in terms of providing meaningful insights relating to surgeries that assist in reducing blood loss and death of the patients.

The surge in number of cardiac cases, neurological disorders, arthritis, and other kinds of health disorders have pulled the string for various kinds of laparoscopic, endoscopic, and keyhole surgeries that use surgical innovations and thus create a boom in surgical navigation systems market. Moreover, these surgeries cause fewer incision wounds, reduce blood loss, and short hospital stays, which makes them more compatible and economically viable.

However, there are certain hindrances that follow this growth and on which surgical navigation companies have to focus to continuously steer the growth in an upward direction. One such problem that surgical companies usually face is the increased procedural complications and regulatory processes for approval since any misguidance can harm patient’s health and put their life at risk.

Therefore, the stringent &rigid approvals and procedural requirements act as one of the major restraints as they are very time-consuming. Secondly, surgical navigation faces slow growth due to high cost of the installations and equipment, which every hospital cannot afford to do, and mostly this problem is faced by developing countries where the expenditure on the health sector is quite less and is expected to impede the market growth.

The surgical navigation systems market is segmented on the basis of technology, application, end user, and region. On the basis of technology, the market is divided into electromagnetic navigation systems, optical navigation systems, hybrid navigation systems, fluoroscopy-based navigation systems, CT-based navigation systems, and others. The electromagnetic navigation systems segment currently dominates the global surgical navigation systems market and this trend is anticipated to continue during the forecast period as EM systems are cheaper and offer a better line of sight as compared to other navigation systems used in surgical procedures. The advantages offered by EM systems are projected to propel its growth during the forecast period.

By application, the market is classified into neurosurgery navigation system, orthopedic navigation systems, ENT navigation system, dental navigation systems, and cardiac navigation system. The neurosurgery navigation system segment dominated the global surgical navigation systems market in 2020 and is anticipated to be dominant in the market owing to rise in adoption of minimally invasive surgical procedures, increased number of neurological surgeries performed worldwide, and surge in number of people suffering with brain tumor &cancer leading to brain metastasis.

By end users, the market is classified into physician practices, ambulatory settings, and hospitals. The hospitals segment dominated the global surgical navigation systems market in 2020 and is anticipated to be dominant in the market owing to early adoption of robotic assisted surgery systems in hospitals, and wide array of treatment options pertaining to orthopedic procedures and pain management.

North America accounted for a majority of the global surgical navigation systems market share in 2020 and is anticipated to bring in advancements in healthcare infrastructure coupled with surge in consumer spending on healthcare industry. However, Asia-Pacific is expected to witness considerable market growth during the forecast period due to huge patient population (leading to more surgeries and invasive procedures), increased prevalence of orthopedic disorders, improved healthcare infrastructure, partnerships/collaborations among key players, growth in medical tourism, and rise in elderly population.

Key Findings of the Study

• By technology, the technology segment currently dominates the global surgical navigation systems market and is expected to continue during the forecast period as EM systems are cheaper and offer a better line of sight as compared to other navigation systems used in surgical procedures. The advantages offered by EM systems are anticipated to propel its growth during the forecast period.
• By application, the neurosurgery navigation systems segment dominated the global surgical navigation systems market in 2020 and is anticipated to be dominant in the market owing to rise in adoption of minimally invasive surgical procedures, increased number of neurological surgeries performed worldwide, and surge in number of people suffering with brain tumor &cancer leading to brain metastasis.
• By end users, the hospitals segment currently dominates the global surgical navigation systems market and is expected to continue this trend during the forecast period owing toearly adoption of robotic assisted surgery systems in hospitals, and wide array of treatment options pertaining to orthopedic procedures and pain management.
• On the basis of region, in 2020, North America dominated the market in 2020, owing to increase in advancements in healthcare infrastructure coupled with surge in consumer spending on healthcare industry. However, Asia-Pacific is expected to witness considerable market growth during the forecast period due to huge patient population (leading to more surgeries and invasive procedures), increased prevalence of orthopedic disorders, improved healthcare infrastructure, partnerships/collaborations among key players, growth in medical tourism, and surge in elderly population.