The global surgical navigation systems market size is expected to reach USD 1.44 billion by 2027, exhibiting a 7.2% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. Growing geriatric population along with 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 as the greatest risk factor for the development of degenerative
disorders of joints; such as osteoporosis. 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. Growing prevalence of these disorders possesses increasing economic
burden on many countries. As per International Osteoporosis Foundation, total
number of hip fractures is expected to reach 5,395 million by 2050.
According
to the Central Brain Tumor Registry of the United States (CBTRUS), the
incidence of all non-malignant brain, primary malignant, and other CNS tumors
was 22.64 cases per 100,000 in 2016. In U.S., over 78,980 new cases of
non-malignant brain, primary malignant, and other CNS tumors were anticipated
to be diagnosed in 2018. This factor is anticipated to propel the demand for
surgical navigation systems in the forthcoming years.
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 correct implementation of plans during
surgery, thereby aiding in minimally invasive procedures with improved patient
outcome.They offer visual imaging at every stage of the surgery thereby
allowing modification of plan during the surgical procedure according to
intra-operative 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.
Full Research Report On Surgical Navigation Systems Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/surgical-navigation-systems-market
Further key
findings from the study suggest:
- Neurology
segment held the largest market share of 36.67% in 2019, 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
- ENT segment
is expected to expand at a lucrative CAGR of 8.2% over the forecast
period, owing to the rising prevalence of ENT disorders along with
increasing adoption in ENT surgeries
- On the basis
of technology, the electromagnetic SNSs segment held the largest market
share in 2019, owing to low cost and ease of use of the technology
- Optical SNSs
segment is expected to witness an exponential CAGR of 8.1% owing to its
advantages over electromagnetic SNSs such as precise and accurate
navigation
- Key players
in surgical navigation systems market are engage in various strategies
such as new product developments for better market penetration. In
September 2019, Brainlab declared FDA clearance for Cirq robotics. The
device is being used in U.S. for spinal application. Cirq is designed to
help increase precision in navigated spinal surgery procedures, thereby,
strengthening their product portfolio.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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