Global Electromagnetic Surgical Navigation System Market – Industry Trends and Forecast to 2029

Electromagnetic Surgical Navigation System Market Analysis and Size

The electromagnetic surgical navigation system market is expected to grow in the forecast period. The rise in the prevalence of target conditions like osteoarthritis, brain tumors, and ENT problems, as well as an aging population, are likely to drive electromagnetic surgical navigation system market growth.

Data Bridge Market Research analyses that the electromagnetic surgical navigation system market which was USD 503.4 million in 2021, would rocket up to USD 924.88 million by 2029, and is expected to undergo a CAGR of 7.90% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

A type of surgical navigation system used to examine the patient's body while performing surgery on it is an electromagnetic surgical navigation system. It gives a true-to-life depiction of the body's internal organs and stores image data for later use. Compared to conventional surgical techniques, surgical operations carried out with a surgical navigation system are more dependable. During a surgical procedure, navigation systems are employed to go through the body's internal organs.

Global Electromagnetic Surgical Navigation System Market Dynamics

Drivers

• Increase in target conditions

The rise in the prevalence of target conditions like osteoarthritis, brain tumors, and ENT problems, as well as an aging population, are likely to drive electromagnetic surgical navigation system market growth.

• Rising chronic diseases

Advances in medical technology primarily drive the global electromagnetic surgical navigation system market. These technologies provide many advantages during surgical procedures, such as ease of use, better surgical outcomes, and higher-quality care. Additionally, the global market for electromagnetic surgical navigation systems is expanding as a result of the ageing population and the rising incidence of chronic illnesses among them, including cardiovascular and neurological conditions.

Opportunities

• Increase in technological advancement

The popularity of surgical navigation systems among medical practitioners has increased over the past few years as a result of technological developments in this field. Due to their simplicity of use, enhanced surgical outcomes, and higher level of patient care, these devices are employed in a variety of surgical procedures. Additionally, in order to get a competitive edge, the manufacturers are spending a lot of money on research and development to release such cutting-edge products on the market.

Restraints/Challenges

• High cost

On the other hand, the high cost associated with surgical instruments will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the electromagnetic surgical navigation system market.

This electromagnetic surgical navigation system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electromagnetic surgical navigation system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Electromagnetic Surgical Navigation System Market

The COVID-19 outbreak is anticipated to negatively affect the global market expansion for electromagnetic surgical navigation systems. The worldwide COVID-19 outbreak has disrupted workflows in the medical field. Because of the pandemic, fewer surgeries have been performed, and patients have chosen to delay hospital visits, which limiting the market expansion.

Recent Development

• In March 2022, the medical device innovator NICO Corporation became the first provider to offer an electromagnetic navigation (EM) adaptor for minimally invasive Para fascicular surgery (MIPS), giving neurosurgeons the option of performing frameless brain surgery. This opens the door to a more kind and minimally invasive surgery option because the right patients won't need to be pinned inside a rigid headframe during the navigation procedure.
• November 2021 - NaoTrac, a surgical navigation robot with robotic assistance, from Brain Navi Biotechnology, a company that specialises in cutting-edge navigation robots, has received CE mark authorization.
• In February 2021, Royal Philips unveiled ClarifEye Augmented Reality Surgical Navigation as an innovative technique for promoting minimally invasive spine surgeries in hybrid operating rooms like Philips' Hybrid Suite.

Global Electromagnetic Surgical Navigation System Market Scope

The electromagnetic surgical navigation system market is segmented on the basis of technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

•  Electromagnetic Navigation Systems
•  Hybrid Navigation Systems
•  Optical Navigation Systems
•  Fluoroscopy-based Navigation Systems
•  CT-based Navigation Systems
•  Other Technologies

Application

•  Neurosurgery
•  ENT Surgery
•  Cardiac Surgery
•  Orthopedic Surgery
•  Other Applications

End-User

•  Hospitals
•  Ambulatory Surgical Centers
•  Others

Electromagnetic Surgical Navigation System Market Regional Analysis/Insights

The electromagnetic surgical navigation system market is analysed and market size insights and trends are provided by country, technology, application and end-user as referenced above.

The countries covered in the electromagnetic surgical navigation system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the electromagnetic surgical navigation system market due to the increasing number of chronic diseases.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and increasing demand for advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The electromagnetic surgical navigation system market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for electromagnetic surgical navigation system market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the electromagnetic surgical navigation system market. The data is available for historic period 2010-2020.

Competitive Landscape and Electromagnetic Surgical Navigation System Market Share Analysis

The electromagnetic surgical navigation system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electromagnetic surgical navigation system market.

Some of the major players operating in the electromagnetic surgical navigation system market are:

• Medtronic (Ireland)
• Brainlab (Germany)
• Fiagon (Germany)
• Siemens (Germany)
• Veran Medical Technologies (U.S.)
• KARL STORZ SE & Co. KG (Germany)
• Northern Digital Inc (Canada)
• Scopis (U.S.), Stryker (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)
• B. Braun Melsungen AG (Germany)
• Amplitude Surgical (France)
• Smith+Nephew (U.K.)
• Zimmer Biomet (U.S.)
• Corin (U.K.)

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