The 2023 report on the “Surgical Navigation Systems Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Surgical Navigation Systems Market is valued approximately USD 6.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14% over the forecast period 2022-2028.Surgical navigation technology enables surgeons to precisely track tool placements and project them onto preoperative imaging data. This advanced technology is connected to GPS tracking, which allows tourists to view their exact location on a map.The rising prevalence of target conditions such as osteoarthritis, brain tumours, and ENT problems, as well as an ageing population, are likely to drive growth. The World Health Organization (WHO) estimates that 9.6 percent of men and 18 percent of women suffer from arthritis.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Osteoarthritis primarily affects the elderly population. The majority of osteoarthritis sufferers have difficulties moving and are unable to conduct regular tasks. Furthermore, the rising need for minimally invasive operations is another factor driving the increased usage of these devices over the projection period.
Minimally invasive procedures have fewer incision wounds, resulting in a faster healing period, a shorter hospital stay, and improved patient comfort. , As the hospital stays are shorter, these operations are economically viable. Minimally invasive operations result in less blood loss than traditional open surgeries. Technological developments in these methods, as well as the introduction of new goods, are projected to propel the market even further. Other reasons, such as the need for better patient outcomes, will, on the other hand, drive the use of novel technologies in navigation-assisted operations and support market expansion. For example, Royal Philips launched ClarifEye Augmented Reality Surgical Navigation for less invasive spine operations in February 2021.
The key regions considered for the global Surgical Navigation Systems Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America had the highest revenue share. Regional expansion is predicted to be driven by the increased prevalence of orthopaedic, ENT, and neurological illnesses. As the number of patients increases, so does the demand for surgical navigation systems, driving regional demand for surgical navigation systems. The key growth factor is the increasing preference for ambulatory surgery centres, which, together with expanding operation volumes, imposes a stress on procedure volumes at hospitals. In a cost-cutting climate, a quality-driven healthcare paradigm combined with a shift to ambulatory surgeries is increasing regional demand. Furthermore, variables like as an expanding senior population and a well-developed reimbursement mechanism, which contribute to overall revenue, are responsible for the regional’s overall development. Whereas, Over the projection period, the market in Asia Pacific is expected to increase at an exponential rate. The regional market’s fastest growth rate can be ascribed to rising economies, an ageing population, and more healthcare awareness. The older population is particularly vulnerable to orthopaedic problems, creating a large target group in the region, with Japan, China, and India being the largest regional contributors.
Major market player included in this report are:
B. Braun Melsungen AG
Stryker
Medtronic
Corin
Siemens Healthineers
Smith+Nephew
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Johnson & Johnson Services, Inc. (DePuy Synthes)
Zimmer Biomet
KARL STORZ SE & Co. KG
Amplitude Surgical
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByApplication:
ENT
Orthopedic
Neurology
Dental
Others
By Technology:
Electromagnetic
Optical
Others
By End-use:
Hospitals
Ambulatory Surgical Centers
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Which elements of this study are relevant to market analysis?
- The research offers a thorough analysis of market trends, along with details on regional usage and consumption.
- The growth rates of each area, including their respective nations, are included in market reports for the upcoming years.
- How are the major market players rated?
- A thorough study of the market’s top rivals is provided in this report.
- The study contains details about the major market vendors.
- Each company’s profile, revenue sources, and items produced are all covered in detail in the study.
- Along with the opinions of the top market participants, the study includes data and information about rival companies.
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