The North America Surgical Navigation Systems Market would witness market growth of 5.6% CAGR during the forecast period (2021-2027).
An increase in the demand for minimally invasive surgical procedures is another factor driving the adoption of this technology. Lesser incision wounds are caused by minimally invasive procedures, which results in a faster healing period, a shorter hospital stay, and improved patient comfort. Moreover, because of the shorter hospital stays, these operations are cost-effective. When compared to traditional open operations, minimally invasive surgeries also result in reduced blood loss.
Surgical navigation systems based on electromagnetic (EM) technology are expected to gain significant popularity in the coming years. When compared to other surgical navigation systems, EM systems are less expensive and provide a superior line of sight. In addition, a rise in the number of orthopedic surgical procedures has been attributed to an increase in the number of joint replacement surgeries. Even when using minimally invasive techniques, navigation allows accurate and repeatable component location during replacement surgeries. The surgeon can precisely restore joint displacement and organ length by controlling the elongation of the limb. The benefits of adopting navigation systems in orthopedic surgical operations will propel this market forward.
According to the United States Census Bureau, approximately 46.2 million individuals in the United States were 65 and older in 2014, with that, this figure is expected to rise to 98 million by 2060. Moreover, the demand for hip and knee replacement surgery would also surge due to steep increase in the population aged 60 and up. Moreover, the presence of a favorable regulatory structure is anticipated to boost the market's overall growth as well as the demand for surgical navigation systems. The deployment of these systems by surgeons is expected to be fueled by rising payment coverage for orthopedic procedures such as knee replacement in the coming years.
The US market dominated the North America Surgical Navigation Systems Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $375.3 million by 2027. The Canada market is exhibiting a CAGR of 8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 7.1% during (2021 - 2027).
Based on End User, the market is segmented into Hospitals and Physician Practices & Ambulatory Settings. Based on Application, the market is segmented into Neurosurgery, Orthopedic, ENT, Dental, and Others. Based on Technology, the market is segmented into Electromagnetic Navigation Systems, Optical Navigation Systems, CT-Based Navigation Systems, Hybrid Navigation Systems, Fluoroscopy-Based Navigation Systems and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Surgical Navigation Systems Market is Estimated to reach $1.4 Billion by 2027, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens Healthineers AG, Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic PLC, B. Braun Melsungen AG, Amplitude Surgical SAS, Karl Storz SE & Co. KG, and Brainlab AG.
By End User
By Application
By Technology
By Country
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