The global Surgical Navigation Systems Market size is
expected to reach USD 23.3 billion by 2030, according to a new report by Grand
View Research, Inc. The market is expected to expand at a CAGR of 14.2% from
2022 to 2030. The growing geriatric population along with the rising prevalence
of brain cancer, orthopedic degenerative, and ENT among other target disorders
and diseases is expected to propel the demand for surgical navigation systems
(SNSs). Aging is considered the greatest risk factor for the development of
degenerative disorders of joints; such as osteoporosis. The rising geriatric
population is expected to serve as a high-impact rendering driver for the
market.
Osteoarthritis and osteoporosis are the most common
disorders in the population aged over 65 years. The growing prevalence of these
disorders possesses an increasing economic burden on many countries. As per
International Osteoporosis Foundation, the total number of hip fractures is
expected to reach 5,395 million by 2050. Facing the outbreak of COVID-19,
elective procedures have significantly impacted the surgical navigation system
market. As restrictions resulted in delays to a number of procedures.
Currently, most nations have elevated restrictions on elective surgery. As a
result, hospital spearheads across the world have been rushing to implement
ramp-up strategies.
In addition to tackling the increasing patient
backlog, the inspiration to restart elective surgery comprises mitigating
revenue shock from the reduced surgical volume, a considerable contributor to
the margin of hospitals. Demand for better patient outcomes will drive the
acceptance of innovative technologies in navigation-assisted surgeries and
provisions market growth. For instance, in March 2021, 7D Surgical has launched
the FLASH navigation system in Switzerland and Germany. Besides, the demand for
minimally invasive procedures is increasing across the world.
Surgical navigation systems are instrumental in
providing better accuracy and precision in diagnosis and determining the
correct implementation of plans during surgery, thereby aiding in minimally
invasive procedures with improved patient outcomes. They offer visual imaging
at every stage of the surgery thereby allowing modification of the plan during
the surgical procedure according to intraoperative findings. It is also
cost-effective in joint replacement procedures as very few patients require
revision after a one-time procedure. These associated advantages are expected
to boost the product demand over the forecast period.
Related Press Release@ Surgical Navigation Systems Market Report
Surgical Navigation Systems Market
Report Highlights
- The neurology segment held the largest revenue share of 37.0% in
2021, owing to the early implementation of surgical navigation in this
branch and the advantages associated with SNSs that aid the surgeons to
perform complex surgeries with increased accuracy
- The ENT segment is expected to expand at a lucrative CAGR of 15.3%
over the forecast period, owing to the rising prevalence of ENT disorders
along with the increasing adoption of ENT surgeries
- Based on technology, the electromagnetic SNSs segment held the
largest revenue share in 2021, owing to the low cost and ease of use of
the technology. Besides, the rise in the prevalence of diseases among the
geriatric population and increasing technological advancements in devices
further drive segment growth
- The hospitals segment was the largest revenue-generating segment of
the market in 2021. Hospitals are an integral part of the healthcare
industry and corporations make significant efforts, both in terms of
revenue & marketing strategies, to endorse their product/services in
hospitals
- Key players in the market are engaged in various strategies such as
new product developments for better market penetration. For instance, in
June 2021, DePuy Synthes in Australia has entered an exclusive contract
with Navbit start-up to launch the Navbit Sprint into operating theatres
across the nation. This is a new navigation system utilizing smart sensor
technology to support physicians in positioning the acetabular cup
thereby, strengthening their product portfolio
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in San Francisco. The company provides syndicated research reports, customized
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