Westford, USA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The global Surgical Navigation Systems market size is expected to reach USD 22.76 billion by 2030 and exhibit a CAGR of 14% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing prevalence of complex surgical procedures that demand precise and minimally invasive techniques. Advances in medical imaging technologies, such as MRI and CT scans, are enhancing the accuracy of surgical navigation systems. Growing adoption of computer-assisted surgery for improved patient outcomes and reduced surgical complications is another driving factor fueling the market's growth.
According to SkyQuest's latest global research of the Surgical Navigation Systems market, integration of artificial intelligence (AI) and machine learning algorithms to enhance surgical precision and decision-making. The development of portable and cost-effective navigation systems is making the technology more accessible to smaller healthcare facilities and outpatient settings. Surgeons are increasingly using augmented reality (AR) and virtual reality (VR) technologies for surgical planning and visualization, driving innovation in navigation systems, are the trends that aid in the market's growth.
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Browse in-depth TOC on "Surgical Navigation Systems Market"
- Pages - 157
- Tables - 176
- Figures -79
A surgical navigation system is a computer-assisted system that guides surgeons during surgery. It uses real-time medical images to provide a 3D view of the patient's anatomy, which helps surgeons to plan and perform surgery more accurately. Surgical navigation systems are used in a variety of surgical specialties, including neurosurgery, orthopedic surgery, and spinal surgery.
Prominent Players in Surgical Navigation Systems Market
- Acellent
- Aconsense
- Applied Acoustics
- Bridge Diagnostics
- Cirrus Research
- Cowi
- E2S
- Encardio
- Fugro
- HBM
- Honeywell
- Infrasense
- International SOS
- MaaXsensors
- MIDAS
- Norsar
- R.M.I.
- RSM
- Sensit Technologies
- Vibrating Systems and Controls
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 7.98 Billion |
| 2030 Value Projection | 22.76 Billion |
| CAGR | 14% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
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Electromagnetic Navigation Systems Demand to Grow Substantially in the Forecast Period
Electromagnetic navigation systems dominated the global online market as they offer real-time tracking and high accuracy, making them suitable for various surgical applications. They do not rely on line-of-sight like optical systems, providing flexibility in surgical instrument placement. Electromagnetic systems may dominate in applications where precision and versatility are critical, such as neurosurgery and complex orthopedic procedures.
Orthopedic Surgery are the Leading Application Segment
In terms of application, orthopedic surgery is the leading segment as it includes a wide range of procedures such as joint replacements (e.g., hip and knee), spinal surgeries, and trauma surgeries. These procedures are commonly performed, contributing to a high volume of surgical cases. The global population is aging, leading to an increased incidence of orthopedic conditions like osteoarthritis and degenerative spine disorders. As the elderly population grows, there is a greater demand for orthopedic surgeries, such as joint replacements, where surgical navigation systems can enhance precision.
North America is the leading Market Due to the Technological Advancements
North America has well-developed healthcare infrastructures with access to cutting-edge medical technologies and facilities. This creates a favorable environment for the adoption of surgical navigation systems. The region has high levels of healthcare spending, which can support investments in advanced medical equipment and surgical technologies.
A recent report thoroughly analyzes the major players operating within the Surgical Navigation Systems market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Surgical Navigation Systems.
Key Developments in Surgical Navigation Systems Market
- In February 2023, Nova Metrix LLC acquired Vallen Systeme, a German manufacturer of monitoring systems. This acquisition added Vallen Systeme's expertise in acoustic emission and Surgical Navigation Systems technologies to Nova Metrix's product offerings.
- In March 2023, Hottinger Baldwin Messtechnik GmbH acquired Digitexx Data Systems, Inc., a leading provider of data acquisition and processing systems for SHM applications. This acquisition strengthened Hottinger Baldwin Messtechnik GmbH's position in the SHM market and expanded its portfolio of data acquisition and processing solutions.
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Key Questions Answered in Surgical Navigation Systems Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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