Surgical Navigation System Market – Insights
Surgical navigation is a method to guide surgery with the help of medical images as the guidance map. Surgical navigation system aims at maximization of the effect of the treatment while minimizing the damage to critical structure. Major area of application for surgical navigation system included minimally invasive and non-invasive surgical procedure in field of neurology, ENT, cardiology, odontology and orthopedics. Surgical navigation system is designed to provide improved intraoperative feedback and alignment validation to surgeons during surgical procedures. For example, neuronavigation system displays human anatomical structures coupled with tracked instrument’s virtual axis, used to optimize craniotomy by locating underlying tumor border. Increasing incidences disorder related to ENT, spine and neurons will propel the market growth. For instance, according to Centers for Disease Control and Prevention (CDC), in 2017, in US 29.4 million adults are diagnosed with Sinusitis, inflammatory disease of nose, comprises 12.1% of the population.
The global surgical navigation system market was valued at US$ 673.1 million in 2017 and is expected to witness a CAGR of 6.9% over the forecast period (2018–2026).
Global Surgical Navigation System Market, By Technology
Surgical Navigation System Market Growth is Driven by Increasing Advancements in Medical technology
Since recent past, surgical navigation systems have gained significant traction, due to its capacity to minimize the traumatic risk and enhance surgical precision. Furthermore, technological advancement in surgical procedures coupled with approval of new products for various applications is driving growth of the market. For instance, in 2018, Naviswiss, a medical technology company, received CE mark for its miniaturized surgical navigation for orthopedic surgeons. Moreover, in 2017, ClaroNav received FDA clearance for marketing and sell of NaviENT, computer assisted navigation system in the US.
Market players are adopting various inorganic growth strategies for maintaining leading position in the market. For instance, in 2016, Fiago GmbH, a manufacturer of clinical navigation systems, together with Beta Klinik GmbH, an international private clinic, opened conference center for navigation neurosurgery in Bonn. Fiagon.Tracey technology assists surgeon by visualizing complex structures of brain and spine. Moreover, commercialization and investment by company plays important role in growth of market. For instance, in February 2018, 7D Surgical, developer of optical technologies and machine vision-based registration algorithm for surgical workflow, company provided funding for the commercial launch of it FDA approved Machine-vision Image Guided Surgery (MvIGS) system used for spinal and cranial navigation.
Increasing demand for minimally invasive surgeries is expected to fuel growth of the surgical navigation system market in the forecast period
Minimally invasive surgical procedures are conducted by computer-assisting surgery aided by surgical navigation system. The robotic-assisted orthopedic surgical solution are cost-effective, time efficient and user-friendly. Advancement in technology and increasing surgical products propel the adoption of minimally invasive and non-invasive surgeries. However, minimally invasive or non-invasive surgical procedure is the more opted over open or traditional surgeries in the developed countries like US, trend is expected to spread in other regions in forecast period subjecting to the growth of surgical navigation market.
Additionally, increasing adoption of robot assisted surgery will fuel the market growth. For instance, in 2017, Hartford HealthCare (HHC), pioneered a new and advanced technology at The Hospital of Central Connecticut, became first hospital in New England to use Globus ExcelsiusGPS, a sophisticated surgical guidance system for spinal procedures by Globus Medical. However, the product recalls is expected to hamper the growth of the market. For instance, in 2017, Brainlab’s Cranial IGS System, a navigation system, faced product recall for 1021 units from US due to potential inaccuracies in the display by the navigation system compared to the patient anatomy.
Global surgical navigation system market is occupied by few of the well-established market players such as Medtronic PLC, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, Scopis GmbH, Fiagon GmbH, Zimmer Biomet Holdings, Inc., Amplitude Surgical and Siemens Healthcare Corporation.
Surgical navigation system is the integral part of computer assisted surgical procedures aiding to surgeons by clarifying complex anatomy of human body into 2D or 3D image. Surgical navigation system is implemented in surgeries like neurological surgeries, ENT surgeries, orthopedic surgeries, cardiac surgeries and dental surgeries. Increasing incidence of surgical procedures along with growing inclination towards minimally invasive surgical procedures are prominent factors to growth of the surgical navigation system market.
Innovative product launches with regulatory approval is further expected to propel the growth of surgical navigation system market. For instance, Medtronic plc launched electromagnetic technology based surgical navigation system named StealthStation ENT with CE and US FDA approval in year 2017. StealthStation ENT system enhanced visualization with new hardware and software innovation providing simulated sinus cavity view for surgeons. Moreover, market players adopts strategies like mergers or collaboration for increasing the product share in the market. For example, ENTrigue Surgical, Inc. collaborates with Fiagon GmbH in 2012 to explore the delivery of integrated navigation and therapy solutions for ENT procedure. On other hand, the high cost of innovative surgical navigation system is expected to hinder the growth of the surgical navigation system market.
Key features of the study:
Various strategy matrices used in analyzing the surgical navigation system market would provide stakeholders vital inputs to make strategic decisions accordingly
“*” marked represents similar segmentation in other categories in the respective section.
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