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Surgical Navigation System Market Overview
The global surgical navigation system market size was valued at $663.4 million in 2016, and is projected to grow at CAGR of 6.9% during the forecast period. The market will be led by optical navigation systems, both in terms of size and growth, attributable to the rising adoption of optical technologies such as fluoroscopy and computed tomography (CT) based technologies in the recently launched navigation systems for performing surgeries and increasing preference for optical navigation technology among surgeons.
The surgical navigation systems are used for various applications such as neuro, orthopedic ENT, dental and cardiac navigation. Navigation systems are majorly used in neuro surgeries and are predicted to witness the fastest growth in demand, at a CAGR of 7.7% during the forecast period and this is attributable to the ability of neuro navigation system to provide real-time intraoperative guidance during brain and/or spinal surgery.
Hospitals, and physician practices and ambulatory settings are the major end users of the surgical navigation system market. Hospitals are the larger end users of the navigation systems and contributed $577.2 million to the global market size in 2016. This is mainly attributable to the increasing patient pool within the hospitals and improving implementation of advanced surgical units among the hospitals across various regions.
North America was the largest contributor in the global surgical navigation system market and contributed a share of 36.2% in 2016. The largest contribution of North America to the global market is mainly attributed to the developed healthcare infrastructure and increasing implementation of advanced surgical systems such as navigation technologies in the region.
Surgical Navigation System Market Dynamics
Developments in augmented reality (AR) navigation systems and increasing collaborations amongst the players in the industry are the increasing trends being observed in the surgical navigation system market. The players in the market such as Scopis GmbH offer navigation system with optical and the electromagnetic measurement technologies using AR, which makes its technology information directly visible on the endoscopic image. The use and development of AR by the navigation system providers is a key trend observed within the industry.
Various factors driving the growth of the surgical navigation system market include increasing adoption of minimally invasive surgical procedures, increasing prevalence of orthopedic, neurological, and ENT disorders, technological advancements, aging population and increasing regulatory approval for navigation systems.
According to a report published by the National Institute of Deafness and other Communication Diseases (NIDCD) in 2014, about 2 to 3 out of every 1,000 children in the U.S. are born with a detectable level of hearing loss in one or both the ears, and 18% of the adults aged between 20-69 have speech-frequency hearing loss in both the ears. Due to increase in orthopedic, neurological and ENT disorders, the surgical navigation system market is growing as these are used for easy navigation during the surgeries performed to treat these disorders.
Increasing adoption of surgical navigation systems in ambulatory settings and untapped APAC market are creating ample growth opportunities for the players to invest in surgical navigation market. Ambulatory surgery centers (ASCs) do not require overnight stay and are often referred as same day surgery centers. These centers operate surgeries at lesser time as compared to hospitals; therefore, surgical navigation systems are being adopted there in order to provide easy and efficient surgery solutions to patients. Key players in the surgical navigation system market are focusing on ASCs to generate revenue from the sale of navigation systems. For instance, in May 2016, Fiagon NA Corporation entered into an agreement with Entellus Medical, Inc., to provide ENT solutions to ASCs in the U.S., thus increasing the demand for surgical navigation systems in the market. It has been observed that computer-assisted surgeries are more precise and less risky, resulting in improved quality of life for the patient.
The procedures to be performed are pre-programmed into a surgical navigation system, and can be carried out in an ASC with the assistance of an experienced surgeon. Due to this, there is also an increase in the number of ASC, where even the most complex spinal surgeries can be performed in a sterilized and safe setting.
Surgical Navigation System Market Competitive Landscape
The key players in the surgical navigation system market are developing new products, which is expected to increase their market share in the coming years. For instance, in May 2017, Scopis GmbH, launched the Holographic Navigation Platform for use in surgery. Scopis developed this platform to offer greater precision and speed to surgeons, and better outcomes to patients undergoing open and minimally-invasive spinal procedures. Moreover, in April 2017, Medtronic plc launched its new StealthStation technology which aimed to help neurosurgeons to perform surgeries with much efficiency using the surgical navigation information.
The players in surgical navigation system market are receiving regulatory approvals for their navigation products developed in various fields such as ENT, craniomaxillofacial (CMF), and spinal. For instance, in February 2017, Fiagon GmbH received 510(K) clearances from the U.S. Food and Drug Administration (USFDA), and Health Canada Medical Device License (MDL) for its breakthrough next-generation surgical navigation products for ENT surgery. The company had also received USFDA 510k clearance for its brain navigation software and new ENT instruments in April 2016.
Some of the other key players operating in the surgical navigation system industry include Koninklijke Philips N.V., Orthalign, Inc., Stryker Corporation, Brainlab AG, Siemens AG, General Electric Company, B. Braun Melsungen AG and Zimmer Biomet Holdings, Inc.