Neuronavigation Systems Market- Global Industry Analysis, Growth, Segmentation and Forecast (2023-2029)

The Neuronavigation Systems Market is expected to reach a revenue value of $ 117.97 Mn by 2029, at a CAGR of 7.1%.
Neuronavigation Systems Market Introduction and Dynamics
Neuronavigation systems have been developed for image-guided neurosurgery to aid in the accurate resection of brain tumours. Currently, Neuronavigation is an indivisible and indispensable part of the neurosurgical reality with a significant potential impact in each neurosurgical procedure. Neuronavigation system market is full of highly promising achievements.To know about the Research Methodology :- Request Free Sample Report

With the advent of big data, the rapid development of artificial intelligence and human-computer interaction and other subjects, the neuronavigation system has become an indispensable technology in surgery, and it is becoming important. Neuronavigation systems are increasingly used in the operative management of brain tumours, which also offers several clinical advantages to the surgeon. Several other functionalities of the neuronavigation systems comprise of specific planning of the incision and craniotomy and determination of small subcortical lesions.

In 2019, approximately 321,670 (53 %) men and 285,210 (47 %) women in the U.S. died from malignant tumours in the brain and other areas of the central nervous system. A total of 1,806,590 new cancer cases and 606,520 deaths are expected in the US in 2020, which is about 4,950 new cases and more than 1,600 deaths each day. In the United States, the number of new deaths associated with brain tumours is close to 12,760 per year.

Rising incidence of neurological disorders such as cancer, brain tumour and strokes are driving the market growth for global neuronavigation systems. New and innovative technological advancements of neuronavigation systems by key players are helping the market to expand at a faster pace. Improvised system and hospitals will enhance the neuronavigation systems market. At the time of surgery, brain shift may occur causing deformation of the brain, for the reason volume of the resected tumour, the intraoperative position of the patient, gravity, and loss of cerebrospinal fluid.

However, the high-cost maintenance and acquisition of neuronavigation systems, along with clinical complications are some of the factors that may hamper the growth of the global neuronavigation systems market.

The report includes SWOT-analysis (Strengths, Weaknesses, Opportunities and Threats) was performed to evaluate other players on the market. The SWOT analysis discusses both positive and negative internal (strengths and weaknesses) and external (opportunities and threats) aspects of a company, to evaluate the position in relation to the current market situation. The SWOT analysis also helps to evaluate what could be the competitive advantage of a company or product, thereby helping the inventor determine the strategic focus.
Neuronavigation Systems Market Segment Analysis
By product type, the electromagnetic system segment was valued $xx Mn in 2022 and is expected to grow in the forecast period. Electromagnetic technology allows frameless, pin less, image-guided surgery, and can be used in all procedures for which neuronavigation is appropriate. This technology was found to be particularly advantageous compared with other technologies in cases in which freedom of head movement was helpful.

Electromagnetic neuronavigation was therefore well suited to CSF diversion procedures, awake craniotomies, and cases in which rigid head fixation was undesirable, such as in neonates. This technology extends the application of neuronavigation to routine shunt placement and ventricular catheter placement in patients with traumatic brain injury. It is likely that as this technology gains wider acceptance, the relative indications will become standard.
The application segment is also expected to grow at a faster pace. The spinal surgery sub-segment is subjected to grow in the forecast period. Navigation helps the surgeon navigate through the bone, while avoiding the spinal cord and other nerves. This not only helps the surgeon perform a minimally invasive procedure, it allows him or her to visualize the exact incision and screw placement and precisely track surgical instruments in relation to anatomy.

Refinements in image-guidance technologies and minimal access techniques have converged on spinal pathology, affording patients the ability to undergo safe, accurate operations without the associated morbidities of conventional approaches. Other areas of spine surgery can benefit from advances in neuronavigation and further growth in the field of image-guided MISS is anticipated.
Neuronavigation Systems Market Regional Insights
North America accounted for the largest share of the Global Neuronavigation Systems Market in 2022

North America accounted for the largest share of xx% in 2022, reason being the rising prevalence of neural disorders. Growth in insurance coverage in the U.S. has increased the burden on the country’s healthcare system, which has highlighted the need for improving efficiency and management of work in North America. Investments by key players in this field has boosted the market growth.

High prevalence of spinal, ENT and neurological disorder, government funding for the development of surgical navigation system and rise in the adoption of minimally invasive surgery are also boosting the market demand in this region. Western Europe is emerging in the neuronavigation system market due to the adoption of advanced technologies and rising incidence rate of disorders.

Asia Pacific is also expected to witness significant growth during the forecast period due to the increasing neurological disorders and rising health care expenditures. The allocation of a large amount of healthcare expenditure for hospitals and dispensing medicines to the elderly is expected drive the market demand.
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Neuronavigation Systems Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 72.98 Bn.


Forecast Period 2023 to 2029 CAGR:
7.1%
Market Size in 2029:
US $ 117.97 Bn.


 Segments Covered:
by Product Type
• Optical System
• Electromagnetic System


by Application
• Neurosurgery
• ENT Surgery
• Maxillofacial Surgery
• Spinal Surgery


by End-Users
• Hospitals
• Ambulatory Surgical Centers
• Others



Neuronavigation Systems Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Neuronavigation Systems Market Key Players
• Stryker
• Medtronic plc
• Brainlab AG
• Scopis GmbH
• ClaroNav
• Surgical Theater, LLC
• Heal Force Bio-Meditech Holdings Limited
• Parsiss Co
• Synaptive Medical
• Bramsys Industria e Comercio Ltda
• Heal Force
• Atracsys LLC
• Northern Digital Inc.
• SURGICAL THEATER, LLC
• Micromar Ind. e Com. LTDA
• Shenzhen Anke High-tech

The report also helps in understanding Global Neuronavigation Systems Market dynamics, structure by analysing the market segments and project the Global Neuronavigation Systems Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Neuronavigation Systems Market make the report investor’s guide.

Frequently Asked Questions:

1. Which region has the largest share in Global Neuronavigation Systems Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Neuronavigation Systems Market?
Ans: The Global Neuronavigation Systems Market is growing at a CAGR of 7.1% during forecasting period 2023-2029.

3. What is scope of the Global Neuronavigation Systems Market report?
Ans: Global Neuronavigation Systems Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Neuronavigation Systems Market?
Ans: The important key players in the Global Neuronavigation Systems Market are – Stryker, Medtronic plc, Brainlab AG, Scopis GmbH, ClaroNav, Surgical Theater, LLC, Heal Force Bio-Meditech Holdings Limited, Parsiss Co, Synaptive Medical, Bramsys Industria e Comercio Ltda, Heal Force, Atracsys LLC, Northern Digital Inc., SURGICAL THEATER, LLC, Micromar Ind. e Com. LTDA, Shenzhen Anke High-tech

5. What is the study period of this Market?
Ans: The Global Neuronavigation Systems Market is studied from 2022 to 2029.