Published Date: 12-May-22
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According to a new report, published by KBV research, The Global Surgical Navigation Systems Market size is expected to reach $1.4 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
The Hospitals segment is leading the Global Surgical Navigation Systems Market by End User 2020, thereby, achieving a market value of $1.0 billion by 2027. The growth of this segment is rising because of the early adoption of robotic aided surgical equipment in various hospitals along with a large range of therapy choices for orthopedic operations and pain management. Moreover, hospitals offer a wide range of therapy alternatives in addition to pain management and orthopedic treatments.
The Neurosurgery segment acquired the maximum revenue share in the Global Surgical Navigation Systems Market by Application 2020, thereby, achieving a market value of $422.5 million by 2027. The rising growth of the segment is owing to an increase in the utilization of minimally invasive surgical processes, an increase in the number of neurological surgeries that are being performed all over the world, and an increase in the number of patients suffering from brain tumors and cancer as well as brain cancer.
The Optical Navigation Systems segment is showcasing a CAGR of 5.5% during (2021 - 2027). Optical imaging technologies have a lot of potential as intraoperative tools for visualizing cells, tissues, and biochemical events with the goal of objectively assessing the tumor margin and advising the surgeon to resect the tumors adequately while sparing important tissues. Therefore, this segment is expected to grow over the forecast period.
The North America market dominated the Global Surgical Navigation Systems Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $520.1 million by 2027. The Europe market is experiencing a CAGR of 5.9% during (2021 - 2027). Additionally, The Asia Pacific market would display a CAGR of 7.1% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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