Surgical Navigation System Market Trends, Share, Growth Drivers and Forecast Report 2023

Posted on 2019-07-16 by P&S Intelligence in Healthcare // 0 Comments

The surgical navigation system market is experiencing growth due to the increasing geriatric population, rising prevalence of various neurological, orthopedic, and ear, nose, and throat (ENT) disorders, increasing regulatory approvals for these systems, and popularity of minimally invasive surgeries. The market generated a revenue of $663.4 million in 2016 and is projected to attain a 6.9% CAGR during the forecast period (2017–2023). Systems that utilize a combination of computer technology and various instruments to assist surgeons are known as surgical intervention systems.

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The surgical navigation system market is observing a trend of augmented reality (AR)-based devices in clinical applications. An AR-integrated system offers an extensive set of information that combines the real and virtual environments to provide a real-time and high-quality visualization of anatomical structures. For instance, a real-world scenario in real time can help in the virtual visualization of anatomical structures, such as blood vessels, soft tissues, and nerves. For instance, the cost-effective navigation systems by Scopis GmBH result in reduced surgery time, better surgical results, and less clinical complications.

The key factor driving the surgical navigation system market is the rising prevalence of neurological, ENT, and orthopedic disorders. As the treatment of these disorders may require surgical intervention into the complex and remotely located areas inside the body, surgical navigation systems are a tremendous help to healthcare service providers. As per the World Health Organization, the mortality rate due to neurological disorders is expected to increase to 12.2% by 2030 from 11.8% in 2015, further highlighting the importance of such systems for saving lives.

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Based on application, the surgical navigation system market is subdivided into cardiac, neuro, dental, orthopedic, and ENT navigation. These systems are finding application majorly in neurosurgeries, which is why neuro navigation is expected to be the fastest growing subdivision during the forecast period, growing at a 7.7% CAGR. The ability of navigation systems to provide real-time intraoperative guidance during brain and spinal procedures is expected to aid in the subdivision’s growth, just as it did during the historical period (2013–2016).

Thus, the market for surgical navigation systems is headed toward a bright future as the demand for these systems is set to rise with the increasing prevalence of various diseases.

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