The global surgical navigation systems market in 2013 was pegged at US$218.5 million, which is poised to grow to US$295.5 million by 2020 at a CAGR of 4.5% between 2014 and 2020.
Albany, NY -- (SBWIRE) -- 12/29/2015 -- The surgical navigation systems market is propelled by the rising demand for orthopedic, trauma, neurological, and ENT surgeries across the globe. A growing geriatric population results in rising number of orthopedic surgeries such as shoulder, hip, and knee replacement. This has fueled the demand for surgical navigation systems. An alarming rise in road accidents has translated into increase in trauma surgeries, once again, resulting in the demand for advanced surgical navigation systems.
The precision that these systems offer in a wide range of surgical procedures is exemplary, which is why the demand for the same has grown in recent times.
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The research report offers a comprehensive overview of the global surgical navigation systems market, backed by thorough research, accurate and updated information, and key insights from industry experts.
Overview of the Surgical Navigation Systems Market
The global surgical navigation systems market in 2013 was pegged at US$218.5 million, which is poised to grow to US$295.5 million by 2020 at a CAGR of 4.5% between 2014 and 2020. This growth can be attributed to development of generic systems, increasing demand for minimally-invasive surgeries, and growing knowledge about the uses as well as benefits of surgical navigation systems. In contrast, high cost of equipment has limited the sales of these systems across the globe.
Among the key product types of surgical navigation systems – ENT navigation systems, neurosurgical navigation systems, and orthopedic navigation systems, the segment of neurosurgical navigation systems accounted for the largest share of the market in 2013.
North America led the global surgical navigation systems market in 2013, surpassing Europe, Asia Pacific, and the Rest of the World with a 40% share. Driven by a well-defined regulatory framework, effective implementation of these regulations, and advanced healthcare infrastructure, this region is likely to retain its lead during the forecast period. Asia Pacific has been identified as a lucrative market for surgical navigation systems fueled by rapidly developing healthcare infrastructure, supportive government initiatives, growth of medical tourism, and rise in healthcare spending.
Companies Mentioned in the Report
The prominent players that feature in the surgical navigation systems market report are GE Healthcare Ltd., Stryker Corporation, Siemens Healthcare Corporation, B. Braun Melsungen AG (Aesculap AG), Zimmer Holdings Inc., Brainlab AG, and Medtronic, Inc.
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The report indicates that the global surgical navigation systems market is immensely competitive, with vendors offering numerous discounts and adopting effective marketing strategies to increase their share in the market. Offering surgical navigation systems to community hospitals at a nominal price, fee per use, customer portal and operating room assistance, and continual medical education are some of the tactics adopted by vendors in the surgical navigation systems market.
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