The report, titled ‘Global Surgical Navigation Systems Market 2016-2020,’ is available for sale on the official website of MarketResearchReports.biz. According to the report, the global surgical navigation systems market is anticipated to exhibit a CAGR of 7.04% from 2016 to 2020, owing to a rising popularity of minimally invasive surgeries.
The global surgical navigation systems market is characterized by the presence of a few big players, which are accounting for key shares in the industry. Medtronic, Brainlab, and Stryker are some of the global leaders, which account for maximum market share. These companies are chiefly driven by their strong brand value and smart marketing strategies. Moreover, these companies are creating significant entry barriers for the emerging domestic vendors. Factors such as technological advancements and product upgradation are increasing the competition among players. Some of the other players in the market are GE Healthcare, B. Braun, CAScination, ClaroNav, Collin Medical, Siemens Healthcare, Zimmer Biomet Holdings, and OMNIlife Science.
Surgical navigation systems have now become one of the most reliable technology so as to ensure surgeries are much safer and lesser invasive than those without the use of navigation systems. Surgical navigation systems have paved a way to enable complex procedures. They help target the anatomy to be operated and place the implant safely. As such, these systems act as information centers during surgeries by giving accurate location of the anatomy. They also reduce risks associated with surgeries, thus driving the demand further. The increasing usefulness and rising applications of surgical navigation systems will help drive their demand in the coming years, so much so that they are likely to become indispensable for the medical sector.
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On the basis of geography, the market is expected to be led by the Americas with the U.S. being the highest revenue generator. The growth of the market in this region is fueled by development of technologically advanced surgical navigation systems and increasing FDA approvals. On the basis of application, the market is segmented into orthopedic surgical navigation systems, neurosurgical navigation systems, spine surgical navigation systems, and ENT surgical navigation systems. Of these, the neurosurgery navigation systems segment not only led in 2015 but is also expected to lead in the years to come owing to their usefulness in cranial tumor surgeries and neurosurgeries.
By end user, the market is segmented into hospitals and ambulatory surgery center (ASCs). Of these, the hospitals segment led in 2015 and is most likely to continue to do so in the next coming years. Hospitals have up-to-date medical infrastructures to accommodate to the needs of the people and this will lead to an increased adoption of surgical navigation systems through 2020.
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