A new Transparency Market Research report examines the surgical navigation systems market.
Here are eight key trends from the report:
1. The global surgical navigation systems market was valued at $218.5 million in 2013 and is expected to have a compound annual growth rate of 4.5 percent through 2020 to reach $295.5 million.
2. The market has a basis in neurosurgical navigation systems, ENT navigation and orthopedic navigation systems.
3. Spine surgeries are complicated and demand for improved accuracy is high; as a result, neurosurgical navigation accounted for the largest market share in 2013.
4. Surgical navigation system cost is a major factor hindering growth in the global marketplace. However, demand is expected to rise with increased awareness of the navigational systems and benefits.
5. Existing players in the navigation systems market are expected to acquire smaller players, partner with competitors and offer long-term contracts to maintain relationships with end users.
6. North America dominated the global surgical navigation systems market in 2013, with 40 percent of the market. In North America, there is well-defined regulatory framework, higher rates of implementing regulations in practice and highly development healthcare infrastructure.
7. The Asia-Pacific region is expected to have the highest growth potential for the surgical navigation systems market due to a rapidly development healthcare infrastructure and rise in medical tourism.
8. The key players in the market are BrainLAB, Aesculap Implant Systems, Medtornic, GE Healthcare, Siemens Healthcare, Stryker and Zimmer.
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