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Neuro-navigation Systems Market - Size, Share, Outlook

08-27-2018 04:29 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Rising adoption of minimally invasive surgical procedures is expected to fuel growth of the neuro-navigation systems market. Moreover, increasing number of neurological surgeries performed worldwide is also expected to drive demand for neuro-navigation market. According to the AANS National Neurosurgical Procedural Statistics, in 2011, neurosurgeons performed 2,296,331 total procedures, 1,448,400 of which were spine surgeries in the U.S. Rise in number of people suffering with brain tumor and cancer leading to brain metastasis is expected to propel demand for neuro-navigation systems. According to American Brain Tumor Association, over 688,000 people in the U.S. lived with primary brain or central nervous system (CNS) tumor. The data also suggests that around 20-40% of other cancer later develops into brain metastasis. Various technical advancements in neuro-navigation system such as addition of features, higher success rate, and newer application of the device depending on its usage in various surgical procedures indicates shift of neurosurgeons on using these systems more frequently for performing neuro-surgical procedures. Moreover, ease of operation, improved quality of treatment, and improved surgical results is also expected to increase demand for neuro-navigation systems. Additionally, advantages such as reduced hospital stay and improved accuracy in neuro-surgeries are expected to be driving factors for growth of the global neuro-navigation systems market size. However, high costs associated with these systems and lack of skilled workforce to operate these systems are expected to restrain growth of the global market.

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Regional Insights

In terms of geography neuro-navigation systems market is segmented into North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. North America is dominant in the neuro-navigation systems market, owing to increasing incidence of brain tumors as well as rising health awareness in the region. According to the American Cancer Society (ACS), brain and spinal cord tumors affects both adults and children in the U.S. The ACS suggests that approximately 23,880 malignant tumors for brain and spinal cord are expected to be diagnosed in the U.S. in 2018. On the other hand, Asia Pacific is expected to witness maximum traction in the neuro-navigation market, owing to market players launching their products in the Asian markets due to presence of huge potential user base. For instance, in October 2017, Pearl Technology introduced a CT HeadFix neuro-navigation system that offers a comfortable, integrated, fast, and hygienic positioning solution in Asia Pacific and European region post its approval from the U.S. FDA.

Competitive Landscape

The market for the neuro-navigation systems is highly competitive with presence of various established players, which includes Medtronic plc, Stryker Corporation, Siemens Healthineers, Zimmer Biomet Holding Inc., Brainlab AG, B. Braun Melsungen AG, Scopis GmBH, Amplitude Surgical, and others. Key players are focusing towards introducing novel systems in the market to sustain their position. For instance, in April 2017, Medtronic Plc introduced StealthStation S8 model, a neuro-navigation system that enhanced workflows, efficiency, and provides comprehensive data integration assisting the neurosurgeons during brain surgery.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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