World Surgical Navigation Systems Sector to See 6.5% CAGR to 2021, Projects M&M in Comprehensive Report Available at MarketPublishers.com
05 Dec 2016 • by Natalie Aster
LONDON – Currently worth USD 662.5 million, the global market for surgical navigation systems is poised to witness a 6.5% CAGR, with its value standing at USD 906.8 million by 2021. The market growth will likely be caused by a hike in the demand for minimally invasive surgeries; a rising volume of product approvals and partnership agreements, etc. amid market participants; growing incidence rates of neurological and orthopedic disorders; and an increased prevalence rate of disorders of ENT. However, the high prices for surgical navigation systems along with product recalls are expected to adversely influence the market’s growth.
Companies undertake a variety of massive R&D activities with a view to developing innovative surgical navigation systems. This has brought in investors, leading market players, and government authorities to pour money in the development of these systems. For example, in October 2015, US-based Surgical Theatre LLC obtained funding of USD 9 million from Shanghai Creation Investment Management Co., Ltd. and Taiwanese HTC Corporation to develop image guidance software.
North America is poised to capture the biggest share of the world market in 2016, with Europe following after. The dominance of the North American market is owing to the increased prevalence rate of ENT diseases, budge financing for the development of surgical navigation systems, rising popularity of minimally invasive surgeries, surging take-up by ambulatory care settings, and a hike in regulatory approvals. Asia is likely to be see the fastest CAGR in the offing.
Medtronic plc, Brainlab AG, Stryker Corporation, Fiagon AG, Scopis GmbH, B. Braun Melsungen AG, Karl Storz GmbH & Co. KG, Zimmer Biomet Holdings, Inc., Amplitude Surgical, and Siemens Healthineers are the leading players in the industry.
Comprehensive report “Surgical Navigation Systems Market” created by M&M offers an insightful examination of the marketplace on a global scale, categorised based on technology, patient care setting, application, and geographic region.
The study gives detailed insights into emerging technologies, R&D landscape, and novel product launches in the global marketplace.
The study offers historical and current market size estimates, offers a competitive landscape analysis that covers growth strategies implemented by industry players in the recent past. The report canvasses the factors shaping the market evolution such as restraints, drivers, opportunities and challenges. Detailed company profiles are presented including basic views on the dominant players and their products, developments, and key strategies. Comprehensive forecasts of future market trends are also available in the report.
More in-demand reports by our partner can be found at M&M page.