PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485768
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485768
Neuro-Navigation Systems Market size was valued at USD 2,187.32 Million in 2023, expanding at a CAGR of 7.67% from 2024 to 2032.
Neuro-navigation systems are advanced tools used in neurosurgery to precisely guide surgeons during procedures involving the brain and spinal cord. These systems integrate various imaging modalities, such as magnetic resonance imaging (MRI). Neuro-navigation systems play a crucial role in guiding surgeons during these procedures, allowing for smaller incisions and less tissue damage. However, there are concerns about the accuracy of navigation systems, especially in real-time surgical applications where precise localization is crucial. Furthermore, integration with robotic systems can further enhance the precision and capabilities of neuro-navigation, creating lucrative opportunities in the future.
Neuro-Navigation Systems Market- Market Dynamics
Rising adoption of minimally invasive neurosurgeries
Minimally invasive neurosurgery techniques require a high level of precision and accuracy due to the delicate nature of neurological procedures. Neuro-navigation systems provide real-time imaging and guidance, allowing surgeons to navigate through complex brain structures with enhanced precision, thereby minimizing damage to surrounding healthy tissue. For instance, in April 2023, ClearPoint Neuro, Inc. a global therapy-enabling platform company announced the successful registration of its Neuro Navigation portfolio with the Brazilian regulatory body, Agencia Nacional de Vigilancia Sanitaria (ANVISA).
Neuro-Navigation Systems Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.67% over the forecast period (2024-2032)
Based on application segmentation, neurosurgery was predicted to show maximum market share in the year 2023
Based on end-user segmentation, ambulatory surgery centers was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Neuro-Navigation Systems Market is segmented on the basis of Type, Application, End-User, and Region.
The market is divided into four categories based on application: Neuro-navigation systems assist surgeons in accurately targeting and removing tumors while minimizing damage to surrounding healthy brain tissue. They can help guide the placement of surgical tools and monitor progress throughout the procedure.
The market is divided into three categories based on end-user: Neuro-navigation systems are primarily used in ambulatory surgery centers to enhance the precision and safety of neurosurgical procedures performed on an outpatient basis. Neuro-navigation systems allow surgeons to plan procedures in detail before the surgery.
Neuro-Navigation Systems Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The North American region's neuronavigation market is growing at a robust rate due to the increasing frequency of neurological illnesses and the need for highly developed neurological systems. Furthermore, the market for neuronavigation systems in North America is expanding due to government financing in this region for the development of surgical navigation systems and the growing popularity of minimally invasive surgery. The market for neuronavigation systems is expected to see an increase in Europe because the region adopts cutting-edge technologies and an increased prevalence of illnesses. The market size for neuronavigation systems is also being driven by the expansion of the healthcare infrastructure in the European areas.
The major payers in the industry are always working together to develop new technologies that will benefit patients by providing standard and minimally invasive procedures for neurosurgeries and related specializations. ClaroNav, Stryker, Brainlab AG, Parsis, Northern Digital Inc., Heal Force, Medtronic, Synaptive Medical, and Bramsys Industria e Comercio Ltd. are a few of the major companies in the worldwide neuronavigation system market. Likewise, partnerships, mergers, acquisitions, and End-User network strengthening are the primary strategies used by market participants to support their expansion and growth objectives.
In August 2022, Axial3D partnered with NeuroNav to advance the neurosurgical navigation workflow using AI. Through this business, Axial3D will deliver this important stage in NeuroNav's workflow which will help to add value to their neuronavigation platform.
In May 2022, ClearPoint Neuro, Inc. a global therapy-enabling platform company announced a partnership with Higgs Boson Health to bring to the marketplace a patient-facing digital application based on the 'ManageMySurgery' platform and specializing in Drug Delivery to the Brain and Spine.
SCOPE OF THE REPORT
GLOBAL NEURO-NAVIGATION SYSTEMS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic
Stryker
7D Surgical
Synaptive Medical
Soterix Medical Inc.
Nexstim Plc
ClaroNav
Zimmer Biomet Holding Inc.
Brainlab
Northern Digital Inc.
Others