Neuronavigation Systems Market 2023 : To Register A Healthy CAGR For The Forecast Period

Precise identification of location of brain lesions and prevention of damage to the vital brain structures is critical during operation of brain pathologies. Neuronavigation systems assist neurosurgeons during such critical operations that are performed within the confines of the brain and the spinal column. These systems provide intra-operative orientation to the surgeons that help them in formulating an accurate surgical approach toward the targeted lesion. Additionally, neuronavigation systems help in guiding the surgery precisely by providing an exact outline of the surrounding neurovascular structures. These systems also help in minimizing the size of the skull opening required for safe removal of brain tumors. Neuronavigation systems are also utilized while performing brain biopsies for deep brain tumors whose surgical removal through open brain surgery is difficult as well as life threatening.

Increasing need and rising demand for accurate and precise systems for carrying out critical neurosurgeries are the key factors driving the global neuronavigation systems market. Moreover, advantages such as shorter hospital stay and improved outcomes increase demand for these systems globally. However, side effects associated with open brain surgeries is likely to restrain the global neuronavigation systems market. Nevertheless, product improvement and innovative technologies will provide newer opportunities for the growth of the market in the near future. High prevalence and increase in incidence of several neurological disorders associated with brain and spine, tumors, and other neurovascular disorders are expected to fuel the growth of the global neuronavigation systems market.

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The global neuronavigation systems market can be segmented based on product type, application, end-user, and region. In terms of product type, the global market can be classified into optical system and electromagnetic system. Optical neuronavigation systems are user-friendly and can be utilized to perform different surgeries such as ENT, maxillofacial, spinal, and neurosurgery. However, electromagnetic neuronavigation systems are computer-assisted technologically advanced systems utilized to perform complicated cranial and ENT surgical procedures. Presently, electromagnetic neuronavigation systems are experiencing significant demand in most parts of the globe. Based on application, the global neuronavigation systems market can be categorized into neurosurgery, ENT surgery, maxillofacial surgery, and spinal surgery. Based on end-user, the market can be divided into hospitals, ambulatory surgical centers, and others.

Geographically, the global neuronavigation systems market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global neuronavigation systems market during the forecast period, followed by Europe. Key factors attributed to the large market shares of these regions are well-established health care infrastructure, high demand for technologically advanced products, and higher spending capacity of the people. Moreover, the neuronavigation systems market in Asia Pacific is expected to register the fastest growth during the forecast period. Rapidly growing medical tourism industry in the region, government initiatives promoting health care infrastructure in many countries, and rise in health care expenditure are expected to boost market growth in the region. Other regions such as Latin America and Middle East & Africa are also expected to register steady growth during the forecast period due to increase in number of health care facilities and improving health awareness.

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Key players operating in the global neuronavigation systems market are Stryker, Medtronic plc, Brainlab AG, Scopis GmbH, ClaroNav, Surgical Theater, LLC, Heal Force Bio-Meditech Holdings Limited, Parsiss Co., and Synaptive Medical, among others.

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