New York, NY -- (SBWIRE) -- 04/29/2021 -- Government initiatives for large scale for technical advancements for devices used in market, geriatric population, rise in operational admission rate, and rise in chronic disease are key factors contributing to a high CAGR during the forecast period.

Surgical Navigation Systems Market Size – USD 734.3 Million in 2018, Growth - CAGR of 6.4%%, Trends– Rise in the demand for minimal invasive procedures and technological advancement

According to the current analysis of Reports and Data, the global Surgical Navigation Systems Market was valued at 734.3 million in 2018 and is expected to reach USD 1.21 billion by the year 2026, at a CAGR of 6.4%. Surgical navigation systems are a part of computer-assisted surgery (CAS). These procedures support surgical procedures are conducted using digital imaging technology. It helps the surgeons to improve the pre-operative planning and also for accurate surgical navigation of instruments throughout the process.

The prevalence of orthopedic, neurological, and ENT disorders, an increase in the demand for minimally invasive surgical procedures, a rise in the geriatric population are fueling the market growth. Surgical navigation systems reduce traumatic risk and help in the surgical process. Demand for minimally invasive surgeries is growing, owing to the benefits of minimally invasive surgeries like rapid wound healing, less hospital stay. However, the high expenditure cost of surgical navigation systems and strict rules & regulations for product approval by the regulatory bodies and product recalls in the past are the factors hindering the market growth.

The Asia Pacific region is likely to fuel the market in the forecast period due to the increase in the population, rise in the government initiatives for the development of surgical navigation systems, the prevalence of the diseases, etc.

Companies considered and profiled in this market study:

Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), B. Braun Melsungen AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), Siemens Healthineers (Germany), and Mariner Endosurgery Inc (Canada) Sea Spine, 7D Surgical's, Augmedics (Chicago)

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Further key findings from the report:

On February 2020, Sea Spine Holdings Corporation, and 7D Surgical, Inc had entered into a Strategic Alliance Agreement with 7D Surgical's. According to the alliance, Sea Spine and 7D Surgical will integrate and co-market their combined product offerings and also would develop SeaSpine-specific instrumentation and would optimize to work with 7D Surgical's flagship Machine-vision Image-Guided Surgery (MvIGS) platform for spinal and cranial surgeries. This agreement had allowed SeaSpine for customized, a best-in-class navigational solution to the hospital and surgeon customers.

Augmedics a company based on augmented reality (AR) applications in health care. In the year 2019, Augmedics had received a 510(k) clearance from the U.S FDA for its Xvision Spine system. Xvision Spine (XVS) was the first to be used in guided surgery it uses both technologies of augmented reality on a headset and has the abilities of surgical navigation, for tracking the surgical instrument, and precisely to locate and guide the surgeon throughout the surgery.

Surgical Theater has announced in the year 2019 that the Medical Device Division of the Israeli Ministry of Health had approved the marketing of the Surgical Navigation Advanced Platform (SNAP) and SuRgical Planner (SRP) systems. This technology was found to be the essential product for planning and performing complex surgeries in the human body: including the brain, heart, and spinal surgery.

Philips and B. Braun had launched Onvision needle tip tracking in 2019 was a breakthrough in realtime ultrasound guidance for regional anesthesia the accurate needle placement was regarded as a critical process in regional anesthesia procedures, as it leads in unintended nerve and vessel punctures or collateral damage to surrounding tissue guidance, however, the ultrasound imaging has proved to be an essential tool for needle guidance, Onvision had reduced the effort of the anesthesiologist and has also helped in interpreting the ultrasound image and was found to be beneficial for the anesthesiologist to more confidently guide the tip of the needle.

During 2019-2026, market is expected to register a CAGR of 7.5% in Asia Pacific; followed by North America and Europe, with 6.2% and 6.1% CAGR, respectively

The hospitals in the end use segment is expected to grow with a CAGR of 6.2% during the forecast period.

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For the purpose of this report, Reports and Data has segmented the Ophthalmic Knives market on the basis of design, type, material type, application, end use and region:

Applications Outlook (Revenue in Million USD; 2016–2026)

Neurosurgery navigation systems
Orthopedic navigation systems
Orthopedic navigation systems, by referencing type
Imageless
Fluoroscopy-based
CT-based
Orthopedic navigation systems, by procedure
Knee replacement
Hip replacement
ENT navigation systems
Dental navigation systems
Cardiac Navigation systems

Technologies Outlook (Revenue in million USD 2016-2026)

Optical
Electromagnetic (EM)
Hybrid
Fluroscopic Navigation System
Others

End Use Outlook (Revenue in million USD 2016-2026)

Hospitals
Clinics
Ambulatory Settings
Others

Regional Outlook (Revenue in Million USD; 2016–2026)

North America
U.S
Canada

Europe
Germany
France
U.K.
Spain
Italy
Rest of the Europe

Asia Pacific
China
India
Japan
Rest of Asia-Pacific

Middle East & Africa
Latin America
Brazil

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Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2016 – 2026

Chapter 3. Indicative Metrics

3.1. Macro-Economic Indicators

Chapter 4. Global Surgical Navigation Systems Segmentation & Impact Analysis

4.1. Global Surgical Navigation Systems Segmentation Analysis
4.2. Industrial Outlook
4.3. Market Indicators Analysis
…

Chapter 9. Competitive Landscape

9.1. Market Revenue Share by Manufacturers
9.2. Mergers & Acquisitions
9.3. Strategy Benchmarking
9.3.1. Partnership & Agreement
9.3.2. New Product Development
9.3.3. Mergers & Acquisitions
9.3.4. Investment & Expansion
9.4. Vendor Landscape

Chapter 10. Company Profiles

10.1. Medtronic plc
10.1.1. Company Overview
10.1.2. Financial Insights
10.1.3. Products Offered
10.1.4. Strategic Initiatives

Continue…

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