Surgical Navigation Systems Market Fueled by Rising Osteoarthritis, Brain Tumors and ENT Cases

The global surgical navigation systems market is projected to register CAGR of 8.5% over the forecast period 2019 to 2027 to reach USD 1.6 billion by 2027, driven by the rising incidence of target conditions such as osteoarthritis, brain tumors, and ENT problems, as well as an ageing population. The world's growing senior population is driving up the demand for orthopedic replacements, particularly hip, shoulder, and knee replacement operations. The increased acceptance of minimally invasive surgical treatments, an increase in the number of agreements, partnerships, and collaborations amongst market players, rising incidence of orthopedic and neurological illnesses, and high prevalence of ENT disorders are all likely to drive market growth. In addition, government support for R&D in surgical navigation systems is driving the market growth. However, high costs and product recalls are expected to hamper the growth of the global surgical navigation systems market.

These are the latest findings of Transparency Market Research (Albany, NY, USA), a market intelligence provider.

In addition to technological advancements, the global surgical navigation systems market is likely to be fueled by the need for minimally invasive operations. Less incision wounds are used in minimally invasive procedures, which results in faster healing period, a shorter hospital stay, and improved patient comfort. Furthermore, because of shorter hospital stays, these operations are cost-effective. When compared to traditional open operations, minimally invasive surgeries result in reduced blood loss. The market is expected to be driven further by technological breakthroughs in these processes and the launch of new products.

Based on technology, the optical segment is expected to register exponential growth during the forecast period. Optical surgical navigation systems outperform electromagnetic (EM) surgical navigation systems. They are the accepted standard for neurosurgery and have the ability to monitor a large number of instruments at the same time. These devices are used in medical procedures that need a high level of accuracy and require several access points, such as surgeries on the lateral skull base. However, EM surgical navigation devices held the largest market share in 2019, owing to their simplicity of use, superior line of sight, and lower cost than optical navigation. Because these systems were launched before optical as well as hybrid SNSs, they have a higher penetration level. In the coming years, EM surgical navigation systems are expected to maintain their dominance in the market.

Geographically, North America held the highest revenue share in the global surgical navigation systems market in 2019, driven by the increased prevalence of orthopedic, ENT, and neurological illnesses in the region. As the number of patients grows, so will the demand for surgical navigation systems, resulting in a rise in the regional demand for surgical navigation systems. Another key growth driver of the North American surgical navigation systems market is the increasing preference for ambulatory surgical centers in the region, which, along with growing treatment volumes, exerts strain on hospital operation volumes. In a cost-cutting scenario, a quality-driven healthcare paradigm, combined with the rising preference for ambulatory procedures, is driving the increasing demand for surgical navigation systems in North America. Additionally, other factors such as an ageing population and an excellent framework for reimbursement, which contribute to total revenue, are keys to the overall growth of the North American surgical navigation systems market.

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