The major factors that drive the growth of this market include rise in adoption of minimal invasive surgeries, improvement in healthcare infrastructure in emerging economies, numerous technological advancements, increase in incidence of ENT and neurosurgery-related disorders, and growth in knee replacement surgeries globally. However, high cost of these systems and stringent FDA rules are the major barriers that restrain the market growth.
The global surgical navigation systems market size was valued at $940.68 million in 2020, and is projected to reach $1,755.67 million by 2030, registering a CAGR of 6.4% from 2021 to 2030.
increases adoption of minimally invasive surgical procedures, surge in incidence & prevalence of neurological disorders, technological advancements, rapidly increasing aging population, and subsequent rise in the number of orthopedic & ENT disorders drive the growth of the surgical navigation systems market.
North America accounted for the largest market share in 2021, that is, nearly half of the global surgical navigation systems market, due to presence of a well-established healthcare system, higher adoption of healthcare information technologies, and increase in the number of neurological & orthopedic disorders. Asia-Pacific possesses maximum growth potential as key players focus on emerging economies and improving healthcare infrastructure in this region.
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Impact of COVID-19 Pandemic on Surgical Navigation Systems Market:
However, the outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global surgical navigation systems market, owing to decline in number of surgeries. The implementation of global lockdown temporarily closed all surgical centers around the world, thus resulted to a number of procedures to be postponed or cancelled, especially in the initial phase. As per report in 2020, nearly 30 million elective surgeries were cancelled or delayed because of the pandemic. Daily patient visits were also reduced considerably in order to maintain the social distancing norms. These factors altogether hampered the growth of the global surgical navigation systems market to some extent. Nevertheless, the market has a huge scope to gather exponential growth in the post pandemic.
The outbreak of the pandemic gave way to a steep decline in the number of elective surgeries across the world, which impacted the global surgical navigation systems market negatively, especially during the initial period. However, the market is projected to get back on track soon.
Get detailed COVID-19 impact analysis on the Surgical Navigation Systems Market-
Top Leading Players:
- Amplitude Surgical SA
- Brainlab AG
- B. Braun Melsungen AG
- Intersect ENT
- Karl StorzGmBH&Co. KG
- Medtronic PLC
- Siemens Aktiengesellschaft
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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