NEW YORK, Jan. 3, 2023 /PRNewswire/ — Major players in the surgical navigation systems market are B Braun Melsungen AG, Stryker Corporation, Medtronic plc, Siemens AG, Zimmer Biomet Holdings Inc, Karl Storz GmbH & Co KG, Amplitude Surgical, Brainlab AG, Fiagon AG Medical Technologies Inc, NuVasive Inc, Smith & Nephew plc, Johnson & Johnson, Advanced Medical Systems Pte Ltd, Corin Group, and Ilumark GmbH.
Read the full report: https://www.reportlinker.com/p06377812/?utm_source=PRN
The global surgical navigation systems market is expected to grow from $5.79 billion in 2021 to $6.73 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The surgical navigation systems market is expected to grow to $10.73 billion in 2026 at a CAGR of 12.3%.
The surgical navigation market includes revenues earned by entities by providing electrical brain stimulation services, nuclear magnetic resonance imaging, computer assisted tomography, magnetic resonance angiography services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Surgical navigation refers to a set of robotic-assisted surgical procedures that allow surgeons to plan, guide, and prepare for the surgery need to be performed. It is a set of technology-based procedures that displays real-time footage of the internal cavity and equipment positioning to gather medical imaging of organs.
North America was the largest region in the surgical navigation systems market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the surgical navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of technologies in surgical navigation systems are electromagnetic navigation systems, optical navigation systems, hybrid navigation systems, fluoroscopy-based navigation systems, CT-based navigation systems, and others. Electromagnetic navigation system refers to the use of electromagnetic wave-assisted software to gather an image of soft tissue or cavity of the body to perform surgery.
The various applications include neurosurgery navigation systems, orthopedic navigation systems, ENT navigation systems, dental navigation systems, and others that are used by hospitals, physician practices, and ambulatory settings end users.
Rising demand for minimally invasive surgical procedures is expected to propel the surgical navigation system market going forward. Minimally invasive surgery refers to surgical operations performed using small incisions and cuts in the body to prevent blood loss and body pain.
Minimally invasive procedures are less painful, require less time in the hospital, and have fewer problems. It gives the physician an enlarged, three-dimensional image of the surgical site and supports precise, adaptable, and controlled surgical procedures.
Hence people are shifting toward invasive surgical procedures, which increases the demand for surgical navigation technologies to precisely track instrument positions and project the instrument position onto the preoperative imaging data to surgeons. For instance, according to Cleveland Clinic, a US-based academic medical center, the total number of laparoscopic procedures performed yearly is 13 million in 2022 across the globe and estimated to increase to 1% by 2026.
Furthermore, in September 2020, according to an article published by the Journal of Minimally Invasive Gynecology, a US-based science publishing company, 61% of minimally invasive surgeries were performed in the US for the treatment of endometrial cancer. Therefore, the rising demand for minimally invasive surgical procedures is anticipated to fuel the market.
Technological advancement is a key trend gaining popularity in the surgical navigation system market. Major market players are focused on creating innovative technologies to improve patient experience during surgical operations.
For instance, in July 2020, Smith & Nephew plc, a UK-based medical technology company launched RI.HIP NAVIGATION technology.
This technology assists in digital and robotic surgery and pre-operative surgery management and helps physicians during surgery to improve the accurate positioning and reproducibility of surgical components and alignment with individual patients needs. The Ri hip navigation technology provides control over the pelvic tilt and cup replacement of the individual patient to reduce costs in both hospitals and ambulatory centers to perform hip arthroplasty.
In May 2022, Medtronic plc, an Ireland-based medical technology company acquired Intersect ENT, Inc. for $1.1 billion. The acquisition helps Medtronic plc to expand its product portfolio in ENT surgeries, post-operative sinus implants, surgical navigation systems, and product reach to North America. Intersect ENT, Inc. is a US-based healthcare equipment manufacturing company specializing in drug-delivery devices, surgical navigation, and robotic procedures to assist minimally invasive surgical operations.
The countries covered in the surgical navigation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The surgical navigation systems market research report is one of a series of new reports that provides Surgical navigation systems market statistics, including surgical navigation systems industry global market size, regional shares, competitors with surgical navigation systems market share, detailed Surgical navigation systems market segments, market trends, and opportunities, and any further data you may need to thrive in the surgical navigation systems industry. This surgical navigation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06377812/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
