Surgical Navigation System Market Stand Out As The Biggest Contributor In Healthcare

The global surgical navigation system market was valued at US$ 673.1 million in 2017 and is expected to witness a CAGR of 6.9% over the forecast period (2018–2026).

Minimally invasive surgical procedures are conducted by computer-assisting surgery aided by surgical navigation system. The robotic-assisted orthopedic surgical solution are cost-effective, time efficient and user-friendly. Advancement in technology and increasing surgical products propel the adoption of minimally invasive and non-invasive surgeries. However, minimally invasive or non-invasive surgical procedure is the more opted over open or traditional surgeries in the developed countries like US, trend is expected to spread in other regions in forecast period subjecting to the growth of surgical navigation market.

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Additionally, increasing adoption of robot assisted surgery will fuel the market growth. For instance, in 2017, Hartford HealthCare (HHC), pioneered a new and advanced technology at The Hospital of Central Connecticut, became first hospital in New England to use Globus ExcelsiusGPS, a sophisticated surgical guidance system for spinal procedures by Globus Medical. However, the product recalls is expected to hamper the growth of the market. For instance, in 2017, Brainlab’s Cranial IGS System, a navigation system, faced product recall for 1021 units from US due to potential inaccuracies in the display by the navigation system compared to the patient anatomy.

Global surgical navigation system market is occupied by few of the well-established market players such as Medtronic PLC, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, Scopis GmbH, Fiagon GmbH, Zimmer Biomet Holdings, Inc., Amplitude Surgical and Siemens Healthcare Corporation.

Market players are adopting various inorganic growth strategies for maintaining leading position in the market. For instance, in 2016, Fiago GmbH, a manufacturer of clinical navigation systems, together with Beta Klinik GmbH, an international private clinic, opened conference center for navigation neurosurgery in Bonn. Fiagon.Tracey technology assists surgeon by visualizing complex structures of brain and spine. Moreover, commercialization and investment by company plays important role in growth of market. For instance, in February 2018, 7D Surgical, developer of optical technologies and machine vision-based registration algorithm for surgical workflow, company provided funding for the commercial launch of it FDA approved Machine-vision Image Guided Surgery (MvIGS) system used for spinal and cranial navigation.

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This release was published on openPR.