The rising adoption of minimally invasive surgery procedures, the increasing incidence of orthopedic and neurological disorders, and the high prevalence of ENT disorders are all driving the growth of the Surgical Navigation System Market.
JERSEY CITY, N.J., July 12, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Surgical Navigation System Market" By Application (Neurosurgery Navigation Systems, Orthopedic Navigation Systems, Spinal Navigation Systems), By Technology (Optical, Electromagnetic (EM), Hybrid), By Patient Care Setting (Hospitals, Physician Practices & Ambulatory Settings), and By Geography. According to Verified Market Research, the Global Surgical Navigation System Market was valued at USD 827.55 Million in 2020 and is projected to reach USD 1,353.28 Million by 2028, growing at a CAGR of 6.35% from 2021 to 2028.
The increasing demand for minimally invasive surgeries is a major factor accountable for increasing the adoption of these devices over the forecast period. Minimally invasive procedures have fewer incision wounds, resulting in a faster healing period, a shorter hospital stay, and improved patient comfort.
Furthermore, because hospital stays are shorter, these operations are economically feasible. Minimally invasive surgeries result in less blood loss than traditional open surgeries. Technological developments in these methods, as well as the introduction of new technologies, are projected to propel the market even further.
In 2017, the global population of people aged 60 and more surpassed 962 million, more than double the figure of 382 million in 1980. The number of elderly people is forecast to more than double again by 2050, reaching approximately 2.1 billion. The increase in the rise of the population aged 60 years and above is expected in the increasing demand for minimally invasive surgeries.
Key Developments inSurgical Navigation System Market
In 2020, In July 2018, Medtronic of Canada Ltd., a subsidiary of Medtronic plc launched the StealthStation S8 and the StealthStation surgical navigation systems for neurosurgery, spinal, and ENT surgical procedures
In March 2021, Brainlab, a digital medical technology company acquired Mint Medical GmbH, a Heidelberg-based company that develops and provides image reading and reporting software for clinical routine and research. The acquisition aims to improve the structured diagnosis, analysis, and treatment through precise visualization.
The major players in the market are Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), B. Braun Melsungen AG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), and Siemens Healthineers (Germany).
Verified Market Research has segmented the Global Surgical Navigation System Market On the basis of Application Reach, Technology, Patient Care Setting, and Geography.
Surgical Navigation System Market by Application
Neurosurgery Navigation Systems
Orthopedic Navigation Systems
Spinal Navigation Systems
Dental Navigation Systems
ENT Navigation Systems
Surgical Navigation System Market by Technology
Surgical Navigation System Market by Patient Care Setting
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