Global Surgical Navigation Systems Software Market – Industry Trends and Forecast to 2029

Global Surgical Navigation Systems Software Market, By Technology (Optical, Electromagnetic (EM), Hybrid), Application (Neurosurgery, Orthopaedic, ENT, Spinal, Dental), End User (Hospitals, Physician Practices and Ambulatory Settings), – Industry Trends and Forecast to 2029

Market Analysis and Size

In recent years, with the introduction of surgical navigation systems software, surgeons can plan the surgical procedure ahead of time and perform a more accurate procedure. The technology can tailor procedures to each patient's unique anatomy. The physician must perform the actual surgery, but the surgical navigation systems software system guides the surgeon's tools according to a predetermined method to place the implants safely and accurately in the exact pre-planned locations. These movements are replicated by robots, allowing the surgeon to have direct control over the surgery while remaining remote.

Data Bridge Market Research analyses that the surgical navigation systems software market is expected to grow at a CAGR of 5.2% during the forecast period and would like to rea h an estimated value of 876.37 million by the end of the forecast period. The surgical navigation systems software industry is expected to grow rapidly due to an increase in the elderly population, acceleration in the adoption of surgical navigation technology in minimally invasive operational methods, and the widespread prevalence of chronic diseases such as cerebrovascular diseases, strokes, and Alzheimer's.

Market Definition

Surgical navigation is the use of a computer to aid in image-guided surgery. Surgical navigation software assists surgeons in precisely locating a specific target site as well as tracking, analysing, and monitoring surgical instruments used to control anatomical areas of patients during surgical procedures.

Report Scope and Market Segmentation

Surgical navigation systems software Market Dynamics

Drivers

• The growing preference of minimal invasive surgeries

The growing preference for minimally invasive surgery (MIS), which is preferred for remote procedures, is driving the global surgical navigation systems software market. This is due to the fact that minimally invasive procedures, as opposed to traditional surgeries, are less painful due to less bleeding and fewer cuts. MIS can be carried out with the assistance of robots from remote locations. This factor is propelling the global Surgical navigation systems software market forward.

• The rise in the adoption of robotic health technology

Surging investment in the development of new and advanced technology, increasing adoption of robotic technology, rising awareness of the benefits associated with minimally invasive surgery, an increase in the number of surgical procedures, and hospitals' expanding purchasing power are some of the factors that will drive the growth of the Surgical navigation systems software market during the forecast period. Increased applications from emerging economies, on the other hand, will create new and ample opportunities for the growth of the spine surgery robots market during the forecast period.

• The advantages of Robotic-Assisted Surgery

Globally, the demand for minimally invasive surgeries (MIS) is increasing, owing to the benefits associated with these procedures, which include smaller incisions, fewer cuts, less scarring, less pain, increased safety, shorter recovery periods, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by providing greater accuracy, repeatability, control, and efficiency.

• Government investments for healthcare interoperability

The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.

Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the Surgical navigation systems software market.

Opportunities

Ambulatory surgery centres (ASCs) are self-contained medical facilities that specialise in surgical, diagnostic, and preventive procedures that do not necessitate hospitalisation. The cost-effectiveness of ASCs saves governments, third-party payers, and patients money because these facilities provide a lower-cost site of care than hospital outpatient departments.

Restraints/Challenges

On the other hand, the rising cost of medical robots, as well as the scarcity of skilled and trained professionals, will act as a market restraint for the growth of the Surgical navigation systems software market during the forecast period.

This surgical navigation systems software 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 Surgical navigation systems software 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 Surgical Navigation Systems Software Market

As a result of the COVID-19 pandemic, there will be a significant decrease in Surgical navigation systems software adoption in 2020 compared to 2019. This can be attributed to a decrease in surgical procedures as well as a labour shortage in manufacturing facilities. Furthermore, lockdowns and shutdowns in major markets around the world have had a negative impact on the supply chain, limiting the manufacturing of Surgical navigation systems software in 2020.

Recent Development

• Stryker acquired OrthoSensor and its Verasense intraoperative sensor technology in 2021 to enhance the ortho giant's Mako robots.
• TransEnterix received CE Mark approval in 2021 for its Intelligent Surgical Unit, which adds AI-based capabilities and enables machine vision capabilities on TransEnterix's Senhance robotic surgery system.
• In February 2021, Medtronic acquired Digital Surgery, a privately-held surgical AI company specialising in digital education, data analytics, and training. With the addition of a new robot named Hugo, Medtronic hopes to strengthen its robot-assisted surgical platform and broaden its robotic system portfolio through the acquisition.

Global Surgical Navigation Systems Software Market Scope

The surgical navigation systems software market is segmented on the basis 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

• Optical
• Electromagnetic
• hybrid

The technology segment of the surgical navigation systems and software market is segmented into optical, electromagnetic (EM) and hybrid.

Application

• neurosurgery
• orthopedic
• ENT
• spinal and dental

On the basis of application, the surgical navigation systems and software market is segmented into neurosurgery, orthopedic, ENT, spinal and dental. Orthopedic has further been segmented into orthopedic by referencing type and orthopedic by procedure. Orthopedic by referencing type has further been sub-segmented into imageless, fluoroscopy-based and CT-based. Orthopedic by procedure has further been sub-segmented into knee replacement and hip replacement.

End User

• Hospitals
• Cphusician practices
• ambulatory settings

On the basis of end user, the surgical navigation systems and software market is segmented into hospitals and physician practices and ambulatory settings.

Surgical Navigation Systems Software Market Regional Analysis/Insights

The surgical navigation systems software 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 surgical navigation systems software 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 region leads the surgical navigation systems and software market owing to the high prevalence of ENT disorders, rapid technological advancements, and increase in regulatory approvals by government. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rise in geriatric population, huge patient population and increase in prevalence of various chronic diseases and disorders.Q

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 Surgical navigation systems software 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 Surgical navigation systems software market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Surgical navigation systems software market. The data is available for historic period 2010-2020.

Competitive Landscape and Surgical Navigation Systems Software Market Share Analysis

The Surgical navigation systems software 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 Surgical navigation systems software market.

Some of the major players operating in the surgical navigation systems software market are

• Novartis AG (Switzerland)
• Danaher (U.S.)
• Topcon Corporation (Japan)
• Carl Zeiss AG (Germany)
• Hagg-Streit Surgical GMBH (MÖLLER-WEDEL GMBH) (Germany)
• Accu-Scope Inc. (U.S.)
• Alltion (Wuzhou) Co., Ltd (China)
• Arri Medical (Arri Group) (Germany)
• Karl Kaps GmbH & Co. Kg (Germany)
• Takagi Seiko Co. Ltd. (Japan)
• Wright Medical Group N.V. (US)
• Johnson & Johnson Services, Inc. (US)
• Arthrex Inc. (US)
• AlloSource (US)
• Braun Melsungen AG (Germany)
• Smith & Nephew plc (Germany)
• Zimmer Biomet (US)
• Össur (Iceland)
• Medtronic (Ireland)
• CONMED Corporation (US)
• Surgalign (US)
• AlloSource (US)
• Stryker (US)
• Hanger Inc, (US)
• Otto Bock Healthcare GmBH (Germany)