Global Surgical Navigation Systems Market to 2027: Medical Tourism Aiding Market Penetration in Emerging Markets – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Surgical Navigation Systems: Technologies and Global Markets” report has been added to ResearchAndMarkets.com’s offering.
The global market for surgical navigation systems was valued at $1.1 billion in 2021 and is forecasted to grow at a CAGR of 9.0% to reach a value of $1.8 billion in 2027.
The demand for surgical navigation systems is driven by the increasing prevalence of surgical procedures worldwide. According to the National Library of Medicine, 310 million major surgeries are performed each year, and around 40 to 50 million surgeries are performed only in the U.S. According to the World Health Organization, 17.9 million deaths occur due to CVD in 2019.
According to the Centers for Diseases Control and Prevention, one person dies every 34 seconds in the U.S. from cardiovascular diseases, and around 697,000 people died from heart disease in 2020. According to the American Joint Replacement Registry annual report 2021, about 2,550,232 hip and knee arthroplasty procedures were performed between 2012 and 2020.
According to the National Library of Medicine, an estimated 22.6 million patients suffer from neurological disorders or injuries, of whom 13.8 million require surgery yearly. Secondly, technological advancements like the introduction of several new surgical navigation systems – ClarifEye, NaoTrac, CORI Surgical System, ROSA ONE Spine System, etc. – are driving the market growth.
In addition, the growing geriatric population and healthcare expenditure, especially in the Asia-Pacific region, will contribute to the market growth during the forecast period.
Surgical navigation systems find significant applications in orthopedic, neurosurgical, ENT, cardiac, prosthetic, gastrointestinal, urology, and other applications. The increasing use of surgical navigation systems because of their minimally invasive surgery capability, reduced pain and blood loss, and quick patient recovery is expected to further drive the market through 2027.
This report segments the market based on technology type, application, end-user, and region. Based on the technology type, the market is segmented into imaging, display, and tracking technology. Imaging technology-based surgical navigation systems have the highest share of the market.
Based on application, the surgical navigation systems market is segmented into neurosurgery, orthopedic, ear, nose and throat (ENT), cardiac/cardiothoracic, dental, and other surgeries. Based on end-user, the market is segmented into hospitals/diagnostic centers, research and development institutes, and Others (Homes and Ambulatory Surgery Centers).
Report Includes
- 37 data tables and 11 additional tables
- A comprehensive overview and up-to-date analysis of the global markets for surgical navigation systems and related technologies
- Analyses of the global market trends, with historic market revenue data (sales figures) for 2019-2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the current state and future market potential of surgical navigation systems applications, along with a detailed analysis of the competitive environment
- Estimation of the actual market size and revenue forecast for global surgical navigation systems market, and the corresponding market share analysis based on technology type, application, end user, and region
- In-depth information (facts and figures) concerning major market drivers, recent trends and developments, opportunities and challenges estimating the market demand, and the impact of macroeconomic factors in the progress of this market
- Country specific data and market value analysis for the U.S., Canada, Germany, U.K., France, Italy, Spain, Russia, China, India, Japan, and Australia etc.
- A look at the international regulations for those underlined surgical navigation systems market, and details concerning potential market for these developmental procedures and products
- Detailed analysis of relevant R&D activities, new products launches and product enhancement in the industry, and market share analysis of the key companies operating in the industry
- Updated information on the key mergers, acquisitions, and collaboration deals among the surgical navigation systems manufacturing companies for 2018-2023
Market Dynamics
Drivers
- Increasing Prevalence of Surgery
- Increase in Minimally Invasive Surgeries
- Increasing Expenditures for Healthcare
- Increasing Geriatric Population
Restraints
- High Cost of Surgical Navigation Systems
- Regulatory Guidelines and Product Recall
- Increased Time for the Overall Procedure Using Navigation Systems Impacting Penetration
Opportunities
- Technological Advancements
- Medical Tourism Aiding Market Penetration in Emerging Markets
Companies Mentioned
- Amplitude Surgical
- B. Braun Melsungen AG
- Boulder Innovation Group Inc.
- Brainlab AG
- Cae Healthcare
- Claronav
- Collin Sas
- Hitachi, Ltd.
- Hocoma AG
- Imris
- Inneroptic Technology Inc.
- Intuitive Surgical, Inc.
- Johnson & Johnson
- Karl Storz Se & Co. Kg
- Kinamed Inc.
- Medtronic plc
- Mentice Ab
- Northern Digital Inc. (Ndi)
- Omnilife Science Inc.
- Philips Medical Corp.
- Siemens Healthineers
- Smith & Nephew, plc
- Stryker Corp.
- Zimmer Biomet Holdings, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lffvc3
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