Business Impacts of COVID-19 on Surgical Navigation System Market | Strategies of Major Industry Competitors

The global surgical navigation system market generated a revenue of $770.8 million in 2018 and is expected to reach $1,167.6 million in 2024, advancing at a 7.3% CAGR during the forecast period (2019–2024).

Like any other field, surgery has also witnessed technological advancements, which have made the procedure easier and more precise. Among the recent ones is the minimally invasive surgery (MIS), wherein, instead of opening up the area under operation completely, only a small incision is made. This way, the surgery is shorter and less painful, and patients also have fewer chances of post-operative infections. Additionally, patients don’t have to stay at the hospital for long periods, and they can return to their daily life quicker. An important component in these surgeries is a navigation system.

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Therefore, with the rising preference for MISs, the surgical navigation system market is predicted to advance to $1,167.6 million by 2024, from $770.8 million in 2018, at a CAGR of 7.3% during 2019–2024 (forecast period). Navigation essentially involves scanning the body or the part to be operated via computed tomography (CT), ultrasound, or X-ray, and feeding the images into the system, so the doctor can look at the monitor while they operate. In MISs, where doctors do not have a direct view of the internal organs, navigation systems become essential, as the doctors still have to see where they are operating.

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Other than revolutionizing surgery, navigation systems are themselves undergoing technological advancements. In recent years, they have been equipped with augmented reality (AR), especially those used for neuro, ear, nose, and throat (ENT), and orthopedic surgeries. The incorporation of computer-generated images of blood vessels, soft tissues, and nerves with the real world offers surgeons enhanced visualization, thereby helping them better plan the procedure and complete it more confidently. Several medical device manufacturers, including Stryker Corporation, Scopis GmbH, and Brainlab AG, have started offering AR-equipped surgical navigation systems.

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This is why among all the application areas of these systems, viz. orthopedic, neurological, cardiac, and ENT, they are most widely adopted for neurosurgery. Apart from the rising neurological disease prevalence, the complexity and criticality of the nervous system also makes navigation a necessity. One wrong move, one nick of an unintended nerve or part of the brain, and the consequences for the patients can be catastrophic. Surgical navigation systems work on the electromagnetic, hybrid, and optical imaging modalities. Among these, the systems equipped with optical imaging technologies have been in the highest demand, as CT and fluoroscopy are more accurate than other modalities, particularly in challenging ENT procedures.

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