Surgical Navigation Systems Market Expected to Reach $963 Million: New Technology, Application, Type and Customer Segments

Surgical navigation systems market was valued at $628 million in 2015, and is projected to reach $963 million by 2022, growing at a CAGR of 6.3% from 2016 to 2022, according to a new report published by Allied Market Research. Optical navigation systems segment is expected to grow at the highest growth rate during the forecast period, owing to benefits such as minimum radiation exposure and preciseness & accuracy during complex surgeries.

Increase in incidence of chronic diseases, rise in geriatric population, and surge in the number of surgical procedures worldwide drive the growth of the global surgical equipment market. In addition, increase in healthcare expenditure and growth in demand for plastic & reconstructive surgery and technologically advanced minimal invasive surgical procedures supplement the market growth. However, stringent government regulations and poor reimbursement schemes for surgical equipment hinder the market growth. On the other hand, untapped markets in emerging economies and launch of advanced technologies would create new pathways for the market players in future.

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Key Findings of Surgical Navigation Systems Market
• In 2015, neurology navigation systems segment led the market, accounting for more than two-fifths of the global surgical navigation systems market.
• North America accounted for the largest market share in 2015, and is projected to grow at a CAGR of 5.3% during the forecast period.
• Hospital segment held the largest market share in 2015, accounting for more than three-fourths share.
• U.S. was the major shareholder in the North American market, and is expected to grow at the CAGR of 5.9%.
• The global electromagnetic navigation systems market is expected to grow at a CAGR of 5.9%.

The report provides a comprehensive analysis of key players operating in this market such as Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), B. Braun Melsungen AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), and Siemens Healthineers (Germany).

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