Surgical Navigation System Market is expected to reach US$ 2,458.83 million by 2030

Publisher: The Insight Partners

According to our new research study on “Surgical Navigation System Market Size and Forecast to 2030 – Global and Regional Analysis – by Type, Application, and End User,” the market is expected to grow from US$ 1,139.93 million in 2022 to US$ 2,458.83 million by 2030; it is estimated to record a CAGR of 10.09% during 2022–2030. Key driving factors behind the market development are the rising cases of musculoskeletal and neurological disorders and the integration of advanced technology with surgical navigation systems. However, product recalls are hampering the market growth.

During an operation, surgical navigation technology guides the surgeon's movements and shows the position of each instrument and anatomical structure in real time by projecting the tools onto preoperative imaging data. It finds its applications in orthopedics, ENT, neurology, and other surgical disciplines. Real-time observations are made using an MRI, scanner, video camera, or other imaging techniques. Navigation data are integrated into the image to assist the surgeon in determining the exact place within the body of the patient. Before surgery, medical imaging is sometimes utilized to plan an operation. The system may compare the actual position of the target object to the ideal location determined during the planning phase, owing to data integration. Examples of such systems include mechanical, electromagnetic, or optical systems. Optical devices, either passive or active, are the most frequently used. Cameras in the former system detect certain markers such as reflective targets, particular shapes or colors. 

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00005202

The surgical navigation system market is segmented on the basis of type, application, and end users. In terms of type, the market is segmented into optical navigation system, electromagnetic navigation system, hybrid navigation system, fluoroscopy navigation system, CT-based navigation system, and others. The electromagnetic navigation systems segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. Electromagnetic (EMT) navigation systems are used widely in neurosurgery, interventional bronchoscopy, urology, cardiology, and sinonasal cavity surgeries. EMTs utilize fluoroscopy to screen the patient without using ionizing radiation, and it does not expose the patient to any energy fields that are more harmful than ultrasounds.

By application, the surgical navigation system market is segmented into orthopedic, ENT, neurology, dental, and others. The orthopedic segment is further segmented into knee replacement procedures and hip replacement procedures. The orthopedic segment held the largest market share in 2022. The neurology segment is anticipated to register the highest CAGR during 2022–2030.

In terms of end user, the surgical navigation system market is segmented into hospitals, ambulatory surgical centers (ASCs), and others.

Strategic Developments Through Acquisitions and Partnerships by Market Players are Creating Opportunities in Surgical Navigation System Market

Strategic acquisitions allow companies to diversify their products and services, expand their market share, reach new markets, gain competitive advantage, and so on. A few strategic developments by companies in the surgical navigation systems market are mentioned below.

• In September 2021, GE Healthcare acquired BK Medical for US$ 1.4 billion. The acquisition would enable GE Healthcare to expand its US$ 3 billion business from diagnostics to surgical and therapeutic interventions, along with reinforcing its surgical navigation capabilities with the help of BK Medical's strong product portfolio. This acquisition would help GE Healthcare simplify decision-making for clinicians, equipping them with lucrative insights to deliver fast and more personalized care for patients undergoing surgery.
• In September 2020, Intersect ENT, Inc. announced the acquisition of Fiagon AG, a pioneer in electromagnetic surgical navigation solutions, for US$ 60 million in cash. With this acquisition, Intersect ENT intends to expand its portfolio and geographic reach. In August 2020, Fiagon received the US FDA’s 510 K clearance for a navigable sinuplasty balloon. Intersect ENT has plans to deliver more comprehensive surgical solutions by incorporating this balloon into its portfolio. Thus, mergers and acquisitions by companies are likely to offer lucrative opportunities for the overall surgical navigation system market in the coming years.

Surgical Navigation System Market: Competitive Landscape and Key Developments

Major players in the surgical navigation system market include B Braun SE; DePuy Synthes Inc.; Medtronic Plc; Siemens Healthineers AG; Stryker Corp.; ZimmerBiomet Holdings Inc.; Brainlab AG; CASCINATION; HEMOSTASIS, LLC; Corin Group; and GE HealthCare Technologies Inc. These leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com