According to the current analysis of Reports and Data, the global Surgical Navigation Systems Market was valued at 734.3 million in 2018 and is expected to reach USD 1.21 billion by the year 2026, at a CAGR of 6.4%. Surgical navigation systems are a part of computer-assisted surgery (CAS). These procedures support surgical procedures are conducted using digital imaging technology. It helps the surgeons to improve the pre-operative planning and also for accurate surgical navigation of instruments throughout the process.
The prevalence of orthopedic, neurological, and ENT disorders, an increase in the demand for minimally invasive surgical procedures, a rise in the geriatric population are fueling the market growth. Surgical navigation systems reduce traumatic risk and help in the surgical process. Demand for minimally invasive surgeries is growing, owing to the benefits of minimally invasive surgeries like rapid wound healing, less hospital stay. However, the high expenditure cost of surgical navigation systems and strict rules & regulations for product approval by the regulatory bodies and product recalls in the past are the factors hindering the market growth.
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The Asia Pacific region is likely to fuel the market in the forecast period due to the increase in the population, rise in the government initiatives for the development of surgical navigation systems, the prevalence of the diseases, etc.
Further key findings from the report
- On February 2020, Sea Spine Holdings Corporation, and 7D Surgical, Inc had entered into a Strategic Alliance Agreement with 7D Surgical’s. According to the alliance, Sea Spine and 7D Surgical will integrate and co-market their combined product offerings and also would develop SeaSpine-specific instrumentation and would optimize to work with 7D Surgical’s flagship Machine-vision Image-Guided Surgery (MvIGS) platform for spinal and cranial surgeries. This agreement had allowed SeaSpine for customized, a best-in-class navigational solution to the hospital and surgeon customers.
- Augmedics a company based on augmented reality (AR) applications in health care. In the year 2019, Augmedics had received a 510(k) clearance from the U.S FDA for its Xvision Spine system. Xvision Spine (XVS) was the first to be used in guided surgery it uses both technologies of augmented reality on a headset and has the abilities of surgical navigation, for tracking the surgical instrument, and precisely to locate and guide the surgeon throughout the surgery.
- Surgical Theater has announced in the year 2019 that the Medical Device Division of the Israeli Ministry of Health had approved the marketing of the Surgical Navigation Advanced Platform (SNAP) and SuRgical Planner (SRP) systems. This technology was found to be the essential product for planning and performing complex surgeries in the human body: including the brain, heart, and spinal surgery.
- Philips and B. Braun had launched Onvision needle tip tracking in 2019 was a breakthrough in realtime ultrasound guidance for regional anesthesia the accurate needle placement was regarded as a critical process in regional anesthesia procedures, as it leads in unintended nerve and vessel punctures or collateral damage to surrounding tissue guidance, however, the ultrasound imaging has proved to be an essential tool for needle guidance, Onvision had reduced the effort of the anesthesiologist and has also helped in interpreting the ultrasound image and was found to be beneficial for the anesthesiologist to more confidently guide the tip of the needle.
- During 2019-2026, market is expected to register a CAGR of 7.5% in Asia Pacific; followed by North America and Europe, with 6.2% and 6.1% CAGR, respectively
- The hospitals in the end use segment is expected to grow with a CAGR of 6.2% during the forecast period
- Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), B. Braun Melsungen AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), Siemens Healthineers (Germany), and Mariner Endosurgery Inc (Canada) Sea Spine, 7D Surgical’s, Augmedics (Chicago) are the key players of the Surgical Navigation Systems market.
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Applications Outlook (Revenue in Million USD; 2016–2026)
- Neurosurgery navigation systems
- Orthopedic navigation systems
- Orthopedic navigation systems, by referencing type
- Orthopedic navigation systems, by procedure
- Knee replacement
- Hip replacement
- ENT navigation systems
- Dental navigation systems
- Cardiac Navigation systems
- Orthopedic navigation systems, by referencing type
Technologies Outlook (Revenue in million USD 2016-2026)
- Electromagnetic (EM)
- Fluroscopic Navigation System
End Use Outlook (Revenue in million USD 2016-2026)
- Ambulatory Settings
Regional Outlook (Revenue in Million USD; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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