Technavio, a tech-focused market research firm, has published a new report on the global surgical navigation systems market, which is expected to experience a slow but steady growth rate with a CAGR of more than 7% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global surgical navigation systems market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global surgical navigation systems market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global surgical navigation systems market for 2015 (market share %)
|
Americas |
46.11% |
|
EMEA |
38.70% |
|
APAC |
15.19% |
Source: Technavio
The Americas: largest revenue generating region for surgical navigation systems
The surgical navigation systems market in the Americas was valued at around $297 million in 2015 and is expected to grow at a CAGR of almost 7% by 2020. The growing adoption of technologically advanced surgical navigation systems will boost their demand in the American market. The US and Canada contribute to the highest revenues generated in the American market. The manufacturers in the market are concentrating on developing a wider range of innovative surgical navigation tools to generate consistent revenue and to gain FDA approvals. The government organizations and vendors are funding universities to take big initiatives in clinical research and R&D, to innovate technologically advanced equipment. The rising health awareness among various individuals will promote the healthcare sector to adopt sophisticated surgical navigation systems and help in the development of the market in this region.
“The vendors are concentrating on innovations and upgradation of equipment parts to increase their sales and revenues. They are forming partnerships with other medical equipment companies to invest in software that improve tracking technologies. They are developing brand new systems to incorporate facilities which can provide both pre-operative and post-operative image guidance platforms. Initiatives taken by the government of various emerging nations like Mexico and Brazil to improve and provide better healthcare facilities will aid in the growth of this market during the forecast period,” says Barath Palada, a lead analyst at Technavio, specializing in research on orthopedics and general medical devices.
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Surgical navigation systems market in EMEA
The surgical navigation systems market in EMEA was valued at over $249 million in 2015 and is expected to grow at a CAGR of about 6% by 2020. The increase in the development efforts to build hybrid operating rooms will help the region to improve its healthcare infrastructure. The growing number of cases related to obesity, diabetes, arthritis-related bone disorders, and joint replacements will promote the growth of the surgical navigation systems market in EMEA during the forecast period. Recently, Fiagon announced the opening of a reference center in Bonn for navigated neurosurgery in collaboration with Beta clinic, which will lead to a rise in awareness about surgical navigation in this region.
Surgical navigation systems market in APAC
The surgical navigation systems market in APAC was valued at around $98 million in 2015 and is expected to grow at CAGR of more than 10% by 2020. The rapid development of healthcare infrastructure and swiftly growing medical tourism industry is making APAC the fastest-growing region in the market. The availability of attractive pre-approved loan schemes is encouraging investments in hospital remodeling and in upgrading lower-tier hospitals to higher urban standard hospitals especially in the rural areas, for better healthcare development. The manufacturers are partnering with surgeons and end-users to arrange training sessions, offering innovative pricing, and financing models to create awareness about the benefits of surgical navigation systems. Recently, the Tata Memorial Hospital in Mumbai, India, included clinical trials to investigate the efficacies of navigation technology for critical cancer cases and to promote the use of advanced surgical navigation systems.
The top leading vendors operating in the global surgical navigation systems market are:
- Medtronic
- Stryker
- Brainlab
- GE Healthcare
- B. Braun
Other prominent vendors in the market include CAScination, Cirle, ClaroNav, Collin Medical, Fiagon, Heal Force Bio-Meditech, Karl Storz, MASMEC Biomed, Medacta International, Micromar, Inliant, Northern Digital, OMNIlife Science, OrthAlign, Scopis, Shenzhen Anke High-tech, Siemens Healthcare, Smith & Nephew, SonoWand, Synaptive Medical, XION Medical, and Zimmer Biomet Holdings.
A more detailed analysis is available in the Technavio report titled, ‘Global Surgical Navigation Systems Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Diabetic Eye Disease Devices Market 2016-2020
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