Electromagnetic Surgical Navigation System Market | 2031
Electromagnetic Surgical Navigation System Market | 2031
Segments - Electromagnetic Surgical Navigation System Market by Application (Neurosurgery, ENT Surgery, Cardiac Surgery, Orthopedic Surgery, and Others), End-user (Hospitals, Ambulatory Surgical Centers, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5843
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| 187 Pages
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Report Description
Electromagnetic Surgical Navigation System Market Outlook
The global electromagnetic surgical navigation system market size was USD 543.12 Billion in 2022 and is likely to reach USD 1075.79 Billion by 2031, expanding at a CAGR of 7.89% during 2023–2031. The market growth is attributed to growing prevalence of minimally invasive surgery.
Growing prevalence of minimally-invasive surgery is expected to boost the demand for the electromagnetic surgical navigation system. This system helps surgeons perform minimally invasive surgeries with high accuracy and precision, encouraging hospitals and doctors to adopt electromagnetic surgical navigation systems for non-invasive surgery.
Electromagnetic surgical navigation systems allow surgeons to precisely track instrument positions. The tracked position of the instrument is projected onto the preoperative imaging data, to allow surgeons to perform minimally invasive surgeries. It consists of a robot, a computer, an optical tracking system (OTS), and dynamic reference frames (DRF). Electromagnetic surgical navigation systems are used in neurosurgery, ENT surgery, cardiac surgery, orthopedic surgery, and other surgeries.
The COVID-19 pandemic hampered the demand for electromagnetic surgical navigation systems. The abrupt rise in COVID-19 infection encouraged governments to impose social distancing and lockdowns, which sharply declined the demand for clinic visits and elective surgeries. This impeded the market as electromagnetic surgical navigation systems are used in surgical procedures to assist surgeons in precise and accurate guidance by integrating real-time imaging technology, computer algorithms, and tracking devices. For instance,
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According to the National Library of Medicine, a 54% reduction was seen in total surgeries in 2020, due to the postponement of elective surgical procedures.
Impact of Artificial Intelligence (AI) on Electromagnetic Surgical Navigation System
The implementation of artificial intelligence in electromagnetic surgical navigation systems is an immense opportunity in the market. AI in electromagnetic surgical navigation systems assists in the development of advanced navigation and guidance systems, which help improve the precision of the surgical procedure accuracy. AI-powered surgical navigation systems identify and track surgical instruments, providing real-time guidance to the surgeon during the procedure.
Electromagnetic Surgical Navigation System Market Dynamics
Major Drivers
Increasing prevalence of brain tumors and ENT disorders is expected to boost the demand for electromagnetic surgical navigation systems. Electromagnetic surgical navigation systems are utilized in the surgery of brain tumors, as they help surgeons safely find the way around the brain and precisely locate tumors. Thus, rising prevalence of brain tumors is propelling the market.
Rising incidences of chronic diseases such as cancer and neurological disorders is projected to drive the market. Chronic diseases require regular monitoring to check the progress or regress of the disease and the development of complications. Electromagnetic surgical navigation systems provide precise diagnosis, planning, and execution of surgical procedures, leading to improved patient outcomes, which encourages its adoption for chronic disease management. Therefore, growing incidences of chronic diseases is expected to propel the market. For instance,
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According to a report published by the World Health Organization on September 16, 2023, 41 million people are killed every year globally due to chronic diseases, which is equivalent to 74% of all deaths globally.
Existing Restraints
High costs associated with electromagnetic surgical navigation systems encourages small- and mid-size hospitals and clinics lessens their adoption. Moreover, the presence of metal or ferromagnetic sources in the operating workspace affects the efficiency and measurement accuracy of electromagnetic surgical navigation systems, which is projected to hamper the market.
Emerging Opportunities
Rising healthcare expenditure in emerging nations is anticipated to create a lucrative opportunity in the market. Moreover, increasing investments in R&D activities by major players in the market to develop and introduce new electromagnetic surgical navigation systems with added features and technology creates an immense opportunity in the market. For instance,
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On May 02, 2023, Koninklijke Philips N.V. a Dutch-based multinational company that develops and manufactures medical systems, launched Zenition 10. It helps expand patient access to routine surgical care and minimally invasive procedures and enables surgeons to treat more patients at a low cost, while improving patient outcomes.
Scope of the Electromagnetic Surgical Navigation System Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Electromagnetic Surgical Navigation System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Application (Neurosurgery, ENT Surgery, Cardiac Surgery, Orthopedic Surgery, and Others) and End-user (Hospitals, Ambulatory Surgical Centers, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
B. Braun SE; Brainlab AG; Brain Navi Biotechnology Co., Ltd; Corin; Johnson & Johnson Services, Inc.; Karl Storz SE & Co. KG; Medtronic; Northern Digital Inc; Smith+Nephew; Siemens Healthcare GmbH; Stryker; and Zimmer Biomet |
Market Segment Insights
Application Segment Analysis
Based on application, the electromagnetic surgical navigation system market is categorized as neurosurgery, ENT surgery, cardiac surgery, orthopedic surgery, and others. The neurosurgery segment held a large share of the market in 2022 due to an increasing number of patients seeking treatment for conditions such as brain tumors, stroke, and traumatic brain injuries.
Neurosurgery requires precise diagnosis and accurate procedures, which can be fulfilled by an electromagnetic surgical navigation system, as it allows accurate localization of vital anatomic structures, such as cranial nerves or carotid arteries. Moreover, it provides a real-time display of a tracked instrument, which enhances the confidence and efficiency of surgeons. This increases the demand for electromagnetic surgical navigation systems in neurosurgery.
The ENT surgery segment is projected to grow at a rapid pace in the coming years owing to the growing prevalence of sinusitis and rising incidences of ENT disorders. An electromagnetic surgical navigation system is required in ENT surgery, as it helps surgeons perform minimally invasive surgery by providing alignment validation to surgeons during surgical procedures and improved intraoperative feedback.
End-user Segment Analysis
In terms of end-users, the global market is segregated into hospitals, ambulatory surgical centers, and others. The hospitals segment accounted for a major share of the market in 2022 due to the increasing demand for wellness and greater access to medical facilities.
Electromagnetic surgical navigation systems are extensively used in hospitals to improve point-of-care (PoC) and enable fast and accurate results. Hospitals offer a large array of treatment options for orthopedic procedures and pain management, which enhances the demand for electromagnetic surgical navigation systems in hospitals.
The ambulatory surgical centers segment is anticipated to grow at a quick pace in the coming years owing to rising demand for minimally invasive treatments and shortage of hospital beds. Electromagnetic surgical navigation systems are used in ambulatory surgical centers to provide a faster recovery rate and are easy and precise to perform surgeries than traditional therapies and treatments.
Regional Outlook
Based on region, the electromagnetic surgical navigation system market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2022 due to rising prevalence of orthopedic, ENT, and neurological disorders, and the presence of key market players such as Johnson & Johnson Services, Inc., Stryker, and Zimmer Biomet. Moreover, increasing incidence of chronic diseases in the region is propelling the demand for electromagnetic surgical navigation system, as it is used to treat chronic diseases by enabling precise diagnosis, planning, and execution of surgical procedures, leading to improved patient outcomes. For instance,
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According to a report published by the National Library of Medicine, approximately 45% or 133 million people in the US suffer from at least one chronic disease, and the number is expected to grow in the coming years.
The market in Asia Pacific is projected to expand at a high CAGR during the assessment year owing to growing medical tourism and increasing population. Moreover, rising geriatric population in the region is estimated to boost the demand for electromagnetic surgical navigation systems, as the geriatric population needs minimally invasive surgeries. Additionally, rising healthcare spending by the government is propelling the market. For instance,
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The government of India introduced the Union Budget of India on February 1, 2023, stating the allocation of ₹89,155 crores for the Ministry of Health.
Segments
The electromagnetic surgical navigation system market has been segmented on the basis of
Application
- Neurosurgery
- ENT Surgery
- Cardiac Surgery
- Orthopedic Surgery
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global market are B. Braun SE; Brainlab AG; Brain Navi Biotechnology Co., Ltd; Corin; Johnson & Johnson Services, Inc.; Karl Storz SE & Co. KG; Medtronic; Northern Digital Inc; Smith+Nephew; Siemens Healthcare GmbH; Stryker; and Zimmer Biomet.
These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
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On 23 November 2021, Brain Navi Biotechnology Co., Ltd a Taiwan-based leading surgical robotic company received CE mark approval for brain surgery procedures for its NaoTrac, a robotic-assisted surgical robot. NaoTrac is equipped with a high-precision navigation system that helps surgeons with precise anatomical locations during the pre-operating planning preparation.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Electromagnetic Surgical Navigation System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electromagnetic Surgical Navigation System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electromagnetic Surgical Navigation System Market - Supply Chain
4.5. Global Electromagnetic Surgical Navigation System Market Forecast
4.5.1. Electromagnetic Surgical Navigation System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electromagnetic Surgical Navigation System Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Electromagnetic Surgical Navigation System Market Absolute $ Opportunity
5. Global Electromagnetic Surgical Navigation System Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
5.3.1. Neurosurgery
5.3.2. ENT Surgery
5.3.3. Cardiac Surgery
5.3.4. Orthopedic Surgery
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Electromagnetic Surgical Navigation System Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
6.3.1. Hospitals
6.3.2. Ambulatory Surgical Centers
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Electromagnetic Surgical Navigation System Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
8. North America Electromagnetic Surgical Navigation System Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
8.4.1. Neurosurgery
8.4.2. ENT Surgery
8.4.3. Cardiac Surgery
8.4.4. Orthopedic Surgery
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
8.7.1. Hospitals
8.7.2. Ambulatory Surgical Centers
8.7.3. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
9. Latin America Electromagnetic Surgical Navigation System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
9.4.1. Neurosurgery
9.4.2. ENT Surgery
9.4.3. Cardiac Surgery
9.4.4. Orthopedic Surgery
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
9.7.1. Hospitals
9.7.2. Ambulatory Surgical Centers
9.7.3. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
10. Europe Electromagnetic Surgical Navigation System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
10.4.1. Neurosurgery
10.4.2. ENT Surgery
10.4.3. Cardiac Surgery
10.4.4. Orthopedic Surgery
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
10.7.1. Hospitals
10.7.2. Ambulatory Surgical Centers
10.7.3. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
11. Asia Pacific Electromagnetic Surgical Navigation System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
11.4.1. Neurosurgery
11.4.2. ENT Surgery
11.4.3. Cardiac Surgery
11.4.4. Orthopedic Surgery
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
11.7.1. Hospitals
11.7.2. Ambulatory Surgical Centers
11.7.3. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
12. Middle East & Africa Electromagnetic Surgical Navigation System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Electromagnetic Surgical Navigation System Market Size and Volume Forecast by Applications
12.4.1. Neurosurgery
12.4.2. ENT Surgery
12.4.3. Cardiac Surgery
12.4.4. Orthopedic Surgery
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Electromagnetic Surgical Navigation System Market Size and Volume Forecast by End Users
12.7.1. Hospitals
12.7.2. Ambulatory Surgical Centers
12.7.3. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Electromagnetic Surgical Navigation System Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Electromagnetic Surgical Navigation System Market: Market Share Analysis
13.2. Electromagnetic Surgical Navigation System Distributors and Customers
13.3. Electromagnetic Surgical Navigation System Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. B. Braun SE
13.4.2. Brainlab AG
13.4.3. Brain Navi Biotechnology Co., Ltd
13.4.4. Corin
13.4.5. Johnson & Johnson Services, Inc.
13.4.6. Karl Storz SE & Co. KG
13.4.7. Medtronic
13.4.8. Northern Digital Inc
13.4.9. Smith+Nephew
13.4.10. Siemens Healthcare GmbH
13.4.11. Stryker
13.4.12. Zimmer Biomet
Methodology
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