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Surgical Navigation System Market Overview, Size, Share and Forecast to 2023

The surgical navigation system market has been categorized into optical, electromagnetic and hybrid navigation systems, based on technology, where optical navigation systems are expected to witness th...

The surgical navigation system market has been categorized into optical, electromagnetic and hybrid navigation systems, based on technology, where optical navigation systems are expected to witness the fastest growth in demand, at CAGR of 7.3% during the forecast period. The demand for optical navigation systems is expected to grow continuously, since the surgeons can perform interventions with greater safety and precision, and this method also minimizes radiation exposure to the patient as well as the staff in operation room.

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Surgical navigation systems are used for several applications such as neuro navigation, orthopedic navigation, ENT navigation, dental navigation, and cardiac navigation system. Globally, neuro navigation systems occupied the largest share in the market in 2016 and is also expected to grow at a faster pace attaining CAGR of 7.7% by 2023. The neuro navigation system provides real-time intraoperative guidance during brain and/or spinal surgery, leading to its growing market demand.

Globally, the key providers in the surgical navigation system industry are collaborating to gain a larger market share. For instance, in June 2017, Elekta AB, a company providing radiation therapy, radiosurgery, related equipment and clinical management for the treatment of cancer and brain disorders and Brainlab AG, entered into an agreement, according to which, Brainlab AG was made the authorized distributor of Elekta’s stereotactic solutions for neurosurgery in select markets in the Europe namely; France, Belgium, Poland, Liechtenstein, Luxemburg, Portugal and Spain.

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Some of the other key players operating in the surgical navigation system market include Koninklijke Philips N.V., Fiagon GmbH, Orthalign, Inc., Stryker Corporation, Scopis GmbH, Medtronic plc, Siemens AG, General Electric Company, B. Braun Melsungen AG and Zimmer Biomet Holdings, Inc.

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