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Surgical Navigation Systems Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Surgical Navigation Systems Market Growth
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According to The Business Research Company's, The surgical navigation systems market size has grown rapidly in recent years. It will grow from $7.84 billion in 2023 to $9.01 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to advancements in medical imaging, patient safety, market competition, growing prevalence of chronic diseases, surgeon demand for precision..
The surgical navigation systems market size is expected to see rapid growth in the next few years. It will grow to $15.29 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to aging population, customized solutions, healthcare digitization, economic growth, telemedicine and remote consultations: . Major trends in the forecast period include ar and vr integration, robotics and automation, enhanced real-time tracking, machine learning and ai support, 3d printing and patient-specific models, .
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Market Drivers and Trends:
Rising demand for minimally invasive surgical procedures is expected to propel the surgical navigation system market going forward. Minimally invasive surgery refers to surgical operations performed using small incisions and cuts in the body to prevent blood loss and body pain. Minimally invasive procedures are less painful, require less time in the hospital, and have fewer problems. It gives the physician an enlarged, three-dimensional image of the surgical site and supports precise, adaptable, and controlled surgical procedures. Hence, people are shifting toward invasive surgical procedures, which increases the demand for surgical navigation technologies to precisely track instrument positions and project the instrument position onto the preoperative imaging data to surgeons. For instance, according to Cleveland Clinic, a US-based academic medical center, the total number of laparoscopic procedures performed yearly is 13 million in 2022 across the globe and estimated to increase to 1% by 2026. Furthermore, in September 2020, according to an article published by the Journal of Minimally Invasive Gynecology, a US-based science publishing company, 61% of minimally invasive surgeries were performed in the US for the treatment of endometrial cancer. Therefore, the rising demand for minimally invasive surgical procedures is anticipated to fuel the market.
Major market players are focused on creating innovative technologies such as 7D Flash navigation system to improve patient experience during surgical operations. The 7D Flash Navigation System is an advanced surgical navigation technology used in spinal procedures. For instance, in August 2023, Orthofix Medical Inc, a USA-based medical device company launched 7D Flash navigation system percutaneous module 2.0. with novel and proprietary camera-based technology. This enables speed, accuracy and efficiency with its machine-vision technology, aiming to provide significant economic value and lower radiation exposure. This new application targets the significant market for MIS spine navigation and further establishes the 7D Flash navigation system as the preferred navigation option for a variety of establishments, including ambulatory surgical centers and teaching hospitals.
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Major Key Players of the Market:
B Braun Melsungen AG, Stryker Corporation, Medtronic plc, Siemens AG, Zimmer Biomet Holdings Inc., Karl Storz GmbH & Co. KG, Amplitude Surgical, Brainlab AG, Fiagon AG Medical Technologies Inc., NuVasive Inc., Smith & Nephew plc, Johnson & Johnson Services Ltd., Advanced Medical Systems Pte Ltd., Corin Group, Ilumark GmbH, Scopis Gmbh, Cascination AG, Intuitive Surgical Inc., Activ Surgical Inc., MediView XR Inc., Centerline Biomedical Inc., Navigation Sciences Inc., Image Navigation Ltd., Proprio Vision Inc., Augmedics Inc., ClaroNav Inc., Accelus Inc., Naviswiss AG, SurgicEye GmbH, Neocis Inc., Surgical Theater Inc., Noah Medical Co. Ltd., Viz.ai Inc., 7D Surgical Inc., Xenco Medical Inc., Precision OS Technology Inc., OrthAlign Inc., Ruthless Spine LLC, Stereotaxis Inc., NeuroLogica Corporation
Surgical Navigation Systems Market 2024 Key Insights:
• The surgical navigation systems market size is expected to see rapid growth in the next few years. It will grow to $15.29 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.
• Expanding Horizons Of Minimally Invasive Surgery Boosts The Surgical Navigation System Market
• Pioneering Surgical Navigation With Innovative Technology With The 7D Flash Navigation System
• North America was the largest region in the surgical navigation systems market share in 2023
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