Global Surgical Navigation Systems Market: by Types, End-User, Regional Analysis and Forecast 2020

Transparency Market Research Report Added “Surgical Navigation Systems Market (Neurosurgical Navigation Systems, ENT Navigation Systems and Orthopedic Navigation Systems) " to its database.

Overview of the Surgical Navigation Systems Market

The global surgical navigation systems market in 2013 was pegged at US$218.5 million, which is poised to grow to US$295.5 million by 2020 at a CAGR of 4.5% between 2014 and 2020. This growth can be attributed to development of generic systems, increasing demand for minimally-invasive surgeries, and growing knowledge about the uses as well as benefits of surgical navigation systems. In contrast, high cost of equipment has limited the sales of these systems across the globe.

Among the key product types of surgical navigation systems – ENT navigation systems, neurosurgical navigation systems, and orthopedic navigation systems, the segment of neurosurgical navigation systems accounted for the largest share of the market in 2013.

North America led the global surgical navigation systems market in 2013, surpassing Europe, Asia Pacific, and the Rest of the World with a 40% share. Driven by a well-defined regulatory framework, effective implementation of these regulations, and advanced healthcare infrastructure, this region is likely to retain its lead during the forecast period. Asia Pacific has been identified as a lucrative market for surgical navigation systems fueled by rapidly developing healthcare infrastructure, supportive government initiatives, growth of medical tourism, and rise in healthcare spending.

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Since the last decade, incidences of trauma are rising globally and therefore number of cases of surgeries is growing swiftly. In addition, increasing geriatric population worldwide is resulting in increased demand for orthopedic replacements mainly, hip replacement, shoulder replacement and knee replacement surgeries. In addition, improving lifestyle, increasing healthcare spending and increased awareness about advancement in the healthcare technologies are some of the factors that are augmenting the growth of the global surgical navigation systems market. Presently, neurosurgical navigation systems market is leading the global surgical navigation systems market. Orthopedic surgical navigation systems market is expected to grow at a faster rate owing to rising geriatric population and thereby rising incidences of hip, knee and shoulder fractures.

Surgical navigation systems include use of imaging modalities during the surgical procedure and thereby enable minimally invasive surgery. Demand for minimally invasive surgeries is increasing globally owing to advantage of minimally invasive surgeries such as rapid wound healing, reduced hospital stay and lesser pain to the patient. Thus, demand for surgical navigation systems is increasing as well. While on the other hand, growth of the surgical navigation systems market is challenged by costly equipment. In addition, surgical navigation systems are not repeatedly purchased by end-users which is resulting in difficulty for existing market players in reaching new customers. Further, in order to sustain the competition and to expand the market share, existing players in the surgical navigation systems are implementing marketing strategies such as offering Continual Medical Education (CME) classes to surgeons and other healthcare professionals. Some of the market players are offering fee per use, customer portal and operating room assistance facilities to customers aiming increasing adoption of surgical navigation systems in the healthcare facilities. Market players in the surgical navigation systems are expected to offer ENT navigation systems at lower price to community hospitals to sustain the market competition by tapping untapped markets.

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