The Global Surgical Navigation Systems and Software Market is expected to reach USD 736.8 million by 2024, from USD 508.8 million in 2015 growing at a CAGR of 4.2% during the forecast period of 2016 to 2024.
Market Definition: Global Surgical Navigation Systems and Software Market
The surgical navigation systems and software market has experienced a tremendous growth in the past decade and now the market is expected to stabilize and sustain the markets growth. The U.S. has shifted to value based reimbursements and has forced the healthcare providers to improve on surgical outcomes. Surgical navigation systems are used to plan and execute surgeries with more precision, the increased regulation on outcomes in U.S. is surging the market growth in the forecast period 2016 to 2022.
The surgical navigation systems and software market has seen some recent developments in technology such as the electromagnetic navigation. Some recent trends of development in augmented reality navigation systems is showing promise and is expected to play a role in this markets future.
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Market Segmentation: Global Surgical Navigation Systems and Software Market
The global surgical navigation systems and software market is segmented based on product type, end user, application and geographical segments.
Based on product type the global surgical navigation systems and software market is segmented into surgical navigation systems and surgical navigation software segments. In 2016, surgical navigation systems segment is expected to dominate the market and is expected to continue its dominations in the forecast period 2016 to 2022.
The surgical navigation systems segment is further sub-segmented on the basis of product type into planning systems and navigation systems. The navigation systems sub segment is further segmented on the basis of integration into portable, standalone and integrated surgical navigation systems. Also the surgical navigation systems are further segmented on the basis of tracking technology into optical surgical navigation systems and electromagnetic surgical navigation systems. The electromagnetic surgical navigation systems market is expected to grow at the highest CAGR in the forecast period 2016 to 2022.
On the basis of application the global surgical navigation systems and software market is classified into orthopedic, ENT, neurosurgery dental and others. On the basis of end users the market is segmented into hospitals and ambulatory surgical centers.
Based on geography the surgical navigation systems and software market report covers data points for 52 countries across multiple geographies namely North & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. North America is expected to dominate the market with 51.7% market share followed by Europe.
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Company Share Analysis: Global Surgical Navigation Systems and Software Market
The global surgical navigation systems and software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: In July 2016, Brainlab AG developed and incorporated arc trajectory optimization in their surgical navigation systems among others. The report includes market shares of surgical navigation systems and software market for global, Europe, North America, Asia Pacific and Rest of the World.
Major Market Competitors: Global Surgical Navigation Systems and Software Market
Some of the major players operating in the global surgical navigation systems and software market are B. Braun Melsungen AG, BrainLab AG, CAE Healthcare USA, ClaroNav, Collin S.A.S., Fiagon GmbH, GE Healthcare, Heal Force, Karl Storz GmbH & Co. KG, Masmec S.p.A., Medtronic, Parsiss, Scopis GmbH, Shenzhen Anke High-tech Co., Ltd., Smith & Nephew, Stryker Corporation, Surgical Theater LLC, Xion GmbH and Zimmer Biomet among others.
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