North America Surgical Navigation Systems Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Technology (Optical, Electromagnetic, and Others), Application (Orthopedic, ENT, Neurology, Dent

North America Surgical Navigation Systems Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Technology (Optical, Electromagnetic, and Others), Application (Orthopedic, ENT, Neurology, Dental, and Others), End User [Hospitals and Ambulatory Surgical Centers (ASCs)], and Region

The North America surgical navigation systems market is expected to grow from US$ 0.493 billion in 2022 to US$ 1.048 billion by 2030; it is expected to grow at a CAGR of 9.89% from 2022 to 2028. Rising cases of musculoskeletal and neurological disorders, and the integration of advanced technologies with surgical navigation systems are a few factors driving the North America surgical navigation systems market growth.

Surgical navigation systems allow surgeons to precisely track instrument position and assist while performing surgeries. A surgical navigation system comprises a computer workstation and a hardware setup for tracking the position of instruments.

Integration of Advanced Technology with Surgical Navigation Systems

Surgeons have been increasingly emphasizing on conducting safe and less intrusive surgeries. Augmented reality (AR) is one of the advanced technology that has been widely employed in various fields of surgery, including neurosurgery, orthopedics, and spine surgery. Incorporating AR technology for facilitating image-guided surgeries reduces surgical complexities, enhancing procedures performed in operation rooms (OR) with virtual content for surgeons. AR provides visual representation of the patient's brain along with treatment methods, and microscopic and macroscopic visuals for neurosurgeons. Therefore, advanced computer technology and AR-guided navigation would soon become a common part of surgical procedures, which would in turn maximize the number of skilled and safe surgeries. In July 2022, Enovis announced the launch of ARVIS, the only AR-based visualization and information system, which can provide precision guidance to surgeons during surgeries. Thus, the increasing use of innovative surgical navigation techniques incorporated with advanced technology such as AR accelerates the demand for surgical navigation systems.

Market Opportunities

Strategic Developments Such as Acquisitions and Partnerships

Business expansions through mergers and acquisitions have become a popular business growth strategy. Strategic acquisitions allow companies to diversify their products and services, expand their market share, reach new markets, gain competitive advantage, and so on. Such strategic developments by companies in the surgical navigation systems market are mentioned below.

In September 2021, GE Healthcare acquired BK Medical for US$ 1.4 billion. The acquisition would enable GE Healthcare to expand its US$ 3 billion business from diagnostics to surgical and therapeutic interventions, and reinforce its surgical navigation capabilities with the help of BK Medical's robust product portfolio. This acquisition would help GE Healthcare simplify decision-making for clinicians, equipping them with lucrative insights to deliver fast and more personalized care for patients undergoing surgery.

In September 2020, Intersect ENT, Inc. announced the acquisition of Fiagon AG, a pioneer in electromagnetic surgical navigation solutions, for US$ 60 million in cash. Intersect ENT intends to expand its portfolio and geographic reach with this acquisition. In August 2020, Fiagon received the US FDA’s 510 K clearance for a navigable sinuplasty balloon. Intersect ENT has plans to deliver more comprehensive surgical solutions by incorporating this balloon into its portfolio. Thus, mergers and acquisitions by companies are likely to offer lucrative opportunities for the overall surgical navigation system market in the coming years.

The “North America Surgical Navigation Systems Market” is segmented on the basis of technology, application, end user, and region. Based on technology, the surgical navigation systems market is segmented into optical, electromagnetic, and others. The electromagnetic segment held the largest market share in 2022, and the same segment is expected to record a significant CAGR during 2022–2030. In electromagnetic tracking systems (EMTs), magnetic fields are generated, sensors are used to detect them, and finally, software is used to process them. In an electromagnetic field of known geometry, the coordinates of the pre-interventional patient scan and the coordinates of the tracking system are registered.

EMTs are used widely in neurosurgery, interventional bronchoscopy, urology, cardiology, and sinonasal cavity surgeries. EMTs utilize fluoroscopy to screen the patient without using ionizing radiation, and it does not expose the patient to any energy fields that are more harmful than ultrasounds.

In July 2021, TT Electronics—a provider of engineered electronics for performance-critical applications—partnered with US-based Radwave Technologies to develop advanced electromagnetic tracking technologies. These companies, in partnership, would focus on introducing a customizable electromagnetic tracking platform with minimally invasive diagnostic and therapeutic devices for use during surgical procedures.

Based on application, the surgical navigation systems market is segmented as orthopedic, ENT, neurology, dental, and other applications. The orthopedic segment held the largest market share in 2022, and the neurology segment is anticipated to register the highest CAGR during 2022–2030. Orthopedic surgery navigation systems or orthopedic surgical robots use a patient's preoperative/intraoperative imaging data to plan the surgical path and then guide doctors through the planned surgical path using the robotic arm's guiding function. The navigation system also captures a joint range of motion, laxity, and kinematics intraoperatively. HipNav is an image-guided surgical navigation system used in hip replacement surgery. With this system, prosthetic components can be measured and guided during total hip replacement surgery (THR). The system consists of a 3-dimensional preoperative planner, a simulator, and an intraoperative surgical navigator. The orthopedic segment is further classified into knee replacement and hip replacement.

According to the American Academy of Orthopaedic Surgeons, nearly 1 million knee and hip replacements are performed every year. An aging population, and an increase in obesity and osteoarthritis would cause that number to rise to 4 million by 2050.

DePuy Synthes offers a technology-assisted VELYS Hip Navigation platform for hip replacement. The surgeons use real-time data to help improve surgical outcomes. Thus, the growing advancement in orthopedic surgery navigation systems boosts the growth of the orthopedic segment of the North America surgical navigation systems market.

In terms of end user, the surgical navigation systems market is categorized into hospitals and ambulatory surgical centers (ASCs). The hospital segment held a larger share of the market in 2022 and is anticipated to register a higher CAGR during 2022–2030.

Surgical navigation systems are routinely used in orthopedic, neurology, and other surgeries to reach the target body site with greater precision. Hospitals are a vital part of the development of health systems. They play an important role in offering support to other healthcare providers. An increasingly large number of hospitals in North America are attaining expertise to use surgical navigation systems for surgeries. With the rising number of surgeries, the use of surgical navigation is expected to rise in hospital settings. Moreover, the rising number of hospitals is expected to continue the dominance of the hospitals segment in the North America surgical navigation market during the forecast period.

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