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Surgical Navigation Systems Market to Grow to US$295.5 million by 2020

Press Release   •   Nov 15, 2016 08:42 EST

Since the last decade, incidences of trauma are rising globally and therefore number of cases of surgeries is growing swiftly. In addition, increasing geriatric population worldwide is resulting in increased demand for orthopedic replacements mainly, hip replacement, shoulder replacement and knee replacement surgeries. In addition, improving lifestyle, increasing healthcare spending and increased awareness about advancement in the healthcare technologies are some of the factors that are augmenting the growth of the global surgical navigation systems market. Presently, neurosurgical navigation systems market is leading the global surgical navigation systems market. Orthopedic surgical navigation systems market is expected to grow at a faster rate owing to rising geriatric population and thereby rising incidences of hip, knee and shoulder fractures.

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Surgical navigation systems include use of imaging modalities during the surgical procedure and thereby enable minimally invasive surgery. Demand for minimally invasive surgeries is increasing globally owing to advantage of minimally invasive surgeries such as rapid wound healing, reduced hospital stay and lesser pain to the patient. Thus, demand for surgical navigation systems is increasing as well. While on the other hand, growth of the surgical navigation systems market is challenged by costly equipment. In addition, surgical navigation systems are not repeatedly purchased by end-users which is resulting in difficulty for existing market players in reaching new customers. Further, in order to sustain the competition and to expand the market share, existing players in the surgical navigation systems are implementing marketing strategies such as offering Continual Medical Education (CME) classes to surgeons and other healthcare professionals. Some of the market players are offering fee per use, customer portal and operating room assistance facilities to customers aiming increasing adoption of surgical navigation systems in the healthcare facilities. Market players in the surgical navigation systems are expected to offer ENT navigation systems at lower price to community hospitals to sustain the market competition by tapping untapped markets.

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Presently, North America is leading the global surgical navigation systems market and is closely followed by Europe. Well defined regulatory framework, exceptionally developed healthcare infrastructure and higher healthcare spending are some of the factors that are contributing to the growth of the surgical navigation systems market in the North American region. Asia-Pacific is a lucrative market for surgical navigation systems. Some of the factors such as increasing healthcare spending, government initiative to improve healthcare infrastructure in Asia-Pacific countries and availability of advanced healthcare facilities on the grounds of rapidly growing medical tourism industry in this region are expected to fuel the growth of the surgical navigation systems market in the region.

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