Global Surgical Navigation Software Market Overview
Surgical navigation is a part of computer assisted surgery that supports surgeries based on digital imaging technology. With the use of surgical navigation system, the surgeries have become safer and less invasive comparatively. Surgical navigation software helps surgeons to locate the specific target site and to track, analyze and monitor the instruments used during the surgical procedure. Surgical Navigation Systems have accelerated the technical processes in a surgery and created the alternative way for complex procedures. Surgical navigation software helps in reducing risks associated with surgeries and act as an information center during surgeries.
Rising prevalence of orthopedic and neurological disorders, and high prevalence of ENT disorders are the primary factors driving growth of the global surgical navigation software market. The other factors such as rising geriatric population, rising adoption of minimally invasive surgical procedures, increasing adoption by ambulatory settings aid in the growth of the target market. Moreover, increasing number of partnerships, agreements, and collaborations among market players are boosting the target market growth. In addition, the initiatives taken by government and the funds generated for R&D activities of surgical navigation software is expected to aid in the growth of the global surgical navigation software market.
However, surgeries with surgical navigation software is time consuming, surgical equipment’s and its installation requires very high investment. This is the major restraint for the growth of the target market. In addition, the image-guided surgical products market has witnessed many product recalls in the recent past due to their inaccuracy in displaying the patient’s anatomy. This has led to many surgery failures leading to hazardous health effect thus hampering the growth of the target market.
The global surgical navigation software market is segmented on the basis of application, technology, end-user and region. Based on application, the target market is divided into neurosurgery, orthopedic, ENT, spinal, and dental. The orthopedic segment is sub- categorized into orthopedic by referencing type and orthopedic by procedure type. The ENT application segment is the main contributor in the growth of the target market due to rapid increase in number of surgeries, including functional endoscopic sinus surgeries (FESS) and skull base surgeries. On the basis of technology, the global surgical navigation software market is categorized as optical, electromagnetic and hybrid. By end-user type the target market is sub segmented into hospitals, and physician practice & ambulatory settings. Hospital segmented is accounted for largest share as compared to other segments in the end-user.
On the basis of region, the global surgical navigation software market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has dominated the target market. This is attributed to high prevalence of ENT disorders, early technological advancements, and increasing regulatory approvals by government. Asia Pacific is projected to be fastest growing regional segment over the forecast period. This is attributed to the vast patient population, increasing geriatric population, prevalence of various chronic diseases and disorders, improving healthcare infrastructure, acceptance of surgical navigation systems in ambulatory settings, and rising medical tourism.
Key players operating in the global surgical navigation software market include Medtronic plc, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, Scopis GmbH, Fiagon AG, Karl Storz GmbH & Co. KG, Amplitude Surgical, Zimmer Biomet Holdings, Inc., and Siemens Healthineers.
FAQs
The surgical navigation software market is segmented on the basis of application, technology, end-user and region.
High Costs, Limited Awareness, Integration Challenges, Regulatory Hurdles
Growing Demand for Minimally Invasive Procedures, Technological Advancements, Increasing Surgical Volumes, Favorable Reimbursement Policies
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
Key players operating in the global surgical navigation software market include Medtronic plc, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, Scopis GmbH, Fiagon AG, Karl Storz GmbH & Co. KG, Amplitude Surgical, Zimmer Biomet Holdings, Inc., and Siemens Healthineers.