Transparency Market Research (TMR) has recently published a research study on the global surgical navigation systems market, estimating it to expand at a CAGR of 4.50% during the period from 2014 to 2020 and reach a market value of 295.5 mn by the end of the forecast period.
Albany, NY -- (SBWIRE) -- 11/29/2017 -- The rising demand for minimally invasive surgeries, together with the increasing awareness pertaining to the benefits offered by surgical navigation systems, is driving the worldwide surgical navigation systems market to a great extent. However, the high cost associated with equipment is projected to limit the sales of surgical navigation systems in the global arena, states the market report.According to the research study, the global surgical navigation systems market has been classified on the basis of product type. ENT navigation systems, orthopedic navigation systems, and neurosurgical navigation systems are the major products available in the surgical navigation systems market.
The neurosurgery navigation systems market holds the leading position in the global market. The rising frequency of complicated neurosurgeries such as surgeries of brain and spine is the key factor driving the market segment. The orthopedic navigation systems market occupies the second position in the overall market and is closely followed by the ENT navigation systems market.
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As per the research report, Asia Pacific, Europe, North America, and the Rest of the World are the key regional markets for surgical navigation systems across the world. Among these, the North America surgical navigation systems market has occupied the leading position. In 2013, it held a share of 40% in the overall market. The advanced healthcare infrastructure, coupled with a well-defined regulatory framework, is fueling the surgical navigation systems market in this region. Analysts expect this market to maintain its dominance throughout the forecast period.
The surgical navigation market in Asia Pacific is likely to register impressive growth over the forecast period, notes the market study. The growing awareness regarding surgical navigation systems is propelling the demand for these systems extensively in the region. The rising disposable income is motivating people to increase the expenditure on healthcare, which is likely to boost the Asia Pacific market surgical navigation systems market in the coming years.
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The surgical navigation systems markets in Europe and the rest of the world are also expected to post a high growth rate over the forecast period, the report says.The global surgical navigation systems market is moderately concentrated and is led by a few established players including B. Braun Melsungen AG, GE Healthcare Ltd., Brainlab AG, Medtronic Inc., Stryker Corp., Siemens Healthcare Corp., and Zimmer Holdings Inc., states the research report.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.