Global Surgical Navigation Systems Market to Exhibit 4.50% CAGR 2014-2020 as Preference for Minimally Invasive Surgeries Grows
Transparency Market Research has published a new report on the global surgical navigation systems market. As per the report, the global surgical navigation systems market is predicted to progress from US$218.5 mn in 2013 to US$295.5 mn by 2020. The report, titled ‘Surgical Navigation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,’ states that the market is expected to expand at a 4.50% CAGR from 2014 to 2020 owing to their increasing use in minimally invasive surgeries.
Browse the full Surgical Navigation Systems Market (Neurosurgical Navigation Systems, ENT Navigation Systems and Orthopedic Navigation Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at https://www.transparencymarketresearch.com/surgical-navigation-systems-market.html
Surgical navigation systems comprise the use of imaging modalities at the time of surgical procedures and have evolved greatly to meet the needs of minimally invasive surgery. The demand for minimally invasive surgeries is expected to increase in the next few years as they offer benefits such as rapid wound healing and reduced hospital stay.
The growth in the number of surgeries can be attributed to an equal spike in the number of people with trauma, injuries, and other conditions requiring surgical intervention. Also, the rising aging population has led to the growing demand for orthopedic replacements including shoulder replacement, hip replacement, and knee replacement surgeries. Factors such as improving lifestyles, the rising awareness among people about advancements in healthcare technologies, and the increasing healthcare spending are expected to propel the global surgical navigation systems market in the next few years.
Even though the global surgical navigation systems market is expected to be hampered by expensive equipment cost, the market is expected to find growth opportunities with the development of generic systems. The global surgical navigation systems market is segmented on the basis of product type and geography. By geography, the global surgical navigation systems market is divided into North America, Europe, Asia Pacific, and Rest of the World. At present, North America dominates the global surgical navigation systems market, followed by Europe. In 2013, North America accounted for a dominant share of 40% in the global surgical navigation systems market owing to factors such as a well-defined regulatory framework and developed healthcare infrastructure.
Currently, leading players in the global surgical navigation market are helping surgeons gain access to new technologies. Some of the prominent players are offering value-added features such as customer portals, operating room assistance facilities, and facility fee per-use to their customers. By product type, the global surgical navigation systems market is classified into orthopedic navigation systems, ENT navigation systems, and neurosurgery navigation systems. Many leading companies in the global surgical navigation systems market are planning to offer ENT navigation systems at a minimum price to sustain the competition by exploring the untapped market. In 2013, the global surgical navigation systems market was led by the neurosurgery navigation system segment owing to the rising demand for the systems in neurosurgeries.
GE Healthcare Ltd., Siemens Healthcare Corporation, Stryker Corporation, Brainlab AG, Medtronic Inc., Zimmer Holdings Inc., and B.Braun Melsungen AG are some of the leading companies in the global surgical navigation systems market.
Key Segments of Surgical Navigation Systems Market
Surgical Navigation Systems Market, by Product
- ENT navigation systems
- Neurosurgical navigation systems
- Orthopedic navigation systems
Surgical Navigation Systems Market, by Geography
- North America
- Rest of the World
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