North America Surgical Navigation Systems Market : Latest Innovations, Future Scope and Market Trends 2022-2031

The expansion of the global Surgical Navigation Systems Market is likely to be fueled by the rising incidence of target conditions such as osteoarthritis, brain tumors, and ENT problems, as well as an ageing population. As per the World Health Organization (WHO), 18% of women and 9.6% of men& have arthritis in one form or another. Osteoarthritis is a disease that primarily affects the elderly. The majority of osteoarthritis sufferers has trouble moving and is unable to conduct regular tasks.

In 2019, electromagnetic (EM) surgical navigation devices retained the greatest market share, owing to their simplicity of use, superior line of sight, and lower cost than optical navigation. Because these systems were launched before the optical as well as hybrid SNSs, they had a high penetration level. In the following years, the category is expected to maintain its prominence in the market.

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Some prominent players that are found in the global surgical navigation systems market include companies such as Actelion Pharmaceuticals (Johnson & Johnson), F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., EMD Serono (Merck KGaA), Celgene Corporation, and Bayer AG

Global surgical navigation systems market to reach US$ 1,620 Mn through 2027 due to technological advancements made in the industry. The market is projected to rise at a CAGR of 8.5% during the forecast period, from 2019 to 2027. Furthermore, an increase in the need for minimally invasive operations is another factor likely to drive the use of these devices in the years to come. Less incision wounds are used in minimally invasive procedures, which results in a faster healing period, a shorter hospital stay, and improved patient comfort. Furthermore, because of the shorter hospital stays, these operations are cost-effective. When compared to traditional open operations, minimally invasive surgeries result in reduced blood loss. The market is projected to be driven further by technological breakthroughs in these processes and the release of new products.

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High Prevalence of Orthopaedic Illnesses to Drive North America Market

Geographical classifications are expected to give a better understanding of the market forces at play at the regional level.

In 2019, North America had the highest revenue share in the global surgical navigation systems market. Regional expansion is predicted to be fueled by the increased prevalence of orthopaedic, ENT, and neurological illnesses. As the number of patients grows, so does the demand for surgical navigation systems, resulting in a rise in regional demand for surgical navigation systems. The key growth factor for the regional surgical navigation systems market is an increasing preference for ambulatory surgical centers, which, along with growing treatment volumes, puts a strain on hospital operation volumes. In a cost-cutting scenario, a quality-driven healthcare paradigm combined with a trend towards ambulatory procedures is increasing regional demand. Furthermore, factors like ageing population as well as a excellent framework for reimbursement, which contribute to total revenue, are key to the regional market's overall growth.

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High Prevalence of ENT Disorders to Spell Growth for the Market

Trauma is becoming more common over the world, and as a result, the number of procedures is steadily increasing. Furthermore, the world's growing senior population is driving up demand for orthopaedic replacements, particularly hip, shoulder, and knee replacement operations. Increased acceptance of minimally invasive surgical treatments, an increase in the number of agreements, partnerships, and collaborations amongst market competitors, rising incidence of orthopaedic and neurological illnesses, and a high prevalence of ENT disorders are all likely to drive market growth. Furthermore, government support for surgical navigation system research and development is driving the global surgical navigation systems market. During the projection period, however, the global surgical navigation systems market is expected to be hampered by high costs and product recalls.

Over the forecast period, the optical segment is predicted to develop at an exponential rate. Optical surgical navigation systems outperform electromagnetic surgical navigation systems. They are the accepted standard for neurosurgery and have the ability to monitor a large number of instruments at the same time. These devices are used in medical procedures that need a high level of accuracy and require several access points, such as surgeries on the lateral skull base.