The Electromagnetic Surgical Navigation System Market is segmented by Application (Neurosurgery, Orthopedic, ENT), End-User (Hospitals, Ambulatory Surgical Centers), and Region (North America, Europe, Asia-Pacific)- Market Size, Trends, Opportunity, Forecast 2023-2032
The global electromagnetic surgical navigation system market accounted for USD 186.9 Million in 2022 and is estimated to reach USD 200.3 Million in 2023, registering a compound annual growth rate (CAGR) of 7.5% between 2023 and 2032. Over the past years, the market has grown at a remarkable rate and is anticipated to showcase lucrative growth in the coming years owing to increasing adoption of surgical navigation technology to treat various disorders including neurological, ENT and others.
The report is also segmented by application segment into ENT, neurology, cardiology, orthopedics, dental and others, among which, neurology segment grabbed 33.5% market share in 2023. In terms of value, global electromagnetic surgical navigation system market for neurology segment is expected to reach USD 61.9 Million in 2023. In addition to this, the orthopedics segment grabbed nearly 27.0% share in the application segment in 2023.
In terms of geography, the electromagnetic surgical navigation system market is segregated into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounts for the significant share of the global electromagnetic surgical navigation system market. In addition to this, North America electromagnetic surgical navigation system market is anticipated to reach USD 76.9 Million in 2023.
Market Definition & Key Market Segments
Electromagnetic surgical navigation system is a type of surgical navigation system which is used to view the patient’s body while the procedure of surgery. The device is used to collect image data for future reference, the data collected gives an accurate display of the internal organs of the body. The surgical operations done using this device are reliable as compared to the traditional methods of surgery. The major use of the device is to navigate through the inner body organs during a surgical operation. This is done in order to get a clear and exaggerated image of the body which makes it easier for doctors to operate, resulting in increased accuracy and an invasive operation, which is vastly suitable for patients. In addition, applications where these technologies are used includes ENT, orthopedics, cardiology, neurology and others such as maxillofacial surgery, interventional radiology.
Electromagnetic surgical navigation system are used for the treatment of ENT, orthopedics, cardiology, neurology and others such as maxillofacial surgery, interventional radiology. This report provides a comprehensive analysis of the global electromagnetic surgical navigation system industry. In addition, the application of electromagnetic surgical navigation system along with its extensive segments are also analyzed. The report also analyzes market trends, growth factors, and restraints in accordance with the current market scenario. It also projects the future market trends of the global electromagnetic surgical navigation system market and prevailing regulatory analysis across globe. This market research report analyzes the market for electromagnetic surgical navigation system. The electromagnetic surgical navigation system application includes ENT, neurology, cardiology, orthopedics, dental and others. The report also includes value of electromagnetic surgical navigation system segmented by end-user segment including hospitals, ambulatory surgical centers and others.
Growth Drivers in Electromagnetic Surgical Navigation System Market
In the past years, technological advancements in surgical navigation systems have led to an increase in the adoption of such products among medical professionals. These devices are used in various surgical procedures due to ease of operation, improved surgical results, and improved quality of treatment. In addition, these factors are helping the market to grow at a significant rate. Also, the manufacturers are investing heavily on the research and development to introduce such advanced products in the market to gain a competitive edge and are providing immense opportunity for the electromagnetic surgical navigation system market to grow in the upcoming years.
The increasing demand for minimally invasive surgeries has led to a prompt growth of the electromagnetic surgical navigation system market. Further, the rapid recovery and lower post-operative care makes this method of surgery highly desirable which is anticipated to propel the growth of the market across the globe. According to W.H.O., around 80% of people suffering from osteoarthritis face difficulty in movement and high prevalence of chronic disorders are the major factor behind the increasing number of surgeries among the elder age population. These factors are anticipated to drive the demand for electromagnetic surgical navigation systems in the upcoming years.
Orthopedic conditions referring to injuries & diseases that affect the musculoskeletal system and neurological disorders that affect the brain as well as the nerves found throughout the human body & the spinal cord has become one of the major health concerns toady as it contributes to the likelihood of developing poor health conditions. Moreover, the electromagnetic surgical navigation system helps in collecting the image data for future reference and gives an accurate display of the internal organs of the body while performing surgery. Mainly, this form of navigation system is especially important for the geriatric population as they are highly vulnerable to various physical disorders. Thus, increase in number of geriatric population along with rising prevalence of orthopedic & neurology disorder, the market for electromagnetic surgical navigation system is anticipated to grow at a significant rate over the upcoming years.
Regional Analysis
North America electromagnetic surgical navigation system market size accounted for the largest share in 2022 and is expected to reach USD 87.3 Million by 2023, growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period i.e. 2023-2032.
Asia Pacific electromagnetic surgical navigation system market size is expected to reach USD 29.4 Million by 2023. The Asia Pacific electromagnetic surgical navigation system market is expected to grow at a CAGR of 8.9% from 2023 to 2032.
In addition to this, Asia Pacific electromagnetic surgical navigation system market value is projected to witness a Y-O-Y growth of 10.9% in 2032 as compared to previous years. The ENT segment is anticipated to grow at a CAGR of 9.3% and the segment market size is estimated to be USD 5.6 Million in 2023.
In Asia Pacific, orthopedics segment is projected to account for more than 28.5% total value sales in 2023. In 2023, electromagnetic surgical navigation system sales for orthopedics segment is anticipated to grow at a CAGR of 9.4% during forecast period.
Companies Covered:
- Fiagon GmbH
- Medtronic plc
- KARL STORZ Endoscopy
- Brainlab
- Northern Digital Inc.
- Veran Medical Technologies
- Stryker Corporation
- Joimax GmbH
- Heal Force
- Zimmer Biomet
- Other Major & Key Players
|
Attribute |
Value |
|
Market Name |
Global Electromagnetic Surgical Navigation System Market |
|
Market Value (2022) |
USD 186.9 Million |
|
Market Value (2023) |
USD 200.3 Million |
|
CAGR (2023-2032) |
7.5% |
|
Key Growth Drivers |
Technological Advancements, Minimally Invasive Surgeries, Increasing Elderly Population, Orthopedic & Neurological Disorders |
|
Application Segments |
ENT, Neurology, Cardiology, Orthopedics, Dental, Others |
|
Market Share (Neurology Segment) |
33.5% |
|
Neurology Segment Value (2023) |
USD 61.9 Million |
|
Market Share (Orthopedics Segment) |
27.0% |
|
Geographic Segments |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
North America Market Value (2023) |
USD 76.9 Million |
|
Asia Pacific Market Value (2023) |
USD 29.4 Million |
|
CAGR (Asia Pacific, 2023-2032) |
8.9% |
|
Y-O-Y Growth (Asia Pacific, 2022-2032) |
10.9% |
|
CAGR (Orthopedics, Asia Pacific, 2023-2032) |
9.4% |
|
Key Companies Covered |
Fiagon GmbH, Medtronic plc, KARL STORZ Endoscopy, Brainlab, Northern Digital Inc., Veran Medical Technologies, Stryker Corporation, Joimax GmbH, Heal Force, Zimmer Biomet, Other Major & Key Players |
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized Version
- Publication date: 20th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
- Quick Contact -
- ISO Certified Logo -
Frequently Asked Questions(FAQ)
Electromagnetic Surgical Navigation System Market
-: Our Clients :-
