The neuronavigation systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neuronavigation Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The neuronavigation systems market size has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increasing the safety and accuracy of neurosurgery, increasing demand of neuro-navigation systems, increasing the risk of clinical onset and progression of neurological diseases, increasing funding and investment, and increasing average life expectancy.
The neuronavigation systems market size is expected to see strong growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to the increasing need for systems that are accurate, growing incidences of neurological disorders such as cancer, rising incidence rate of disorders, increasing prevalence of neurological disorders, and rising healthcare expenditure. Major trends in the forecast period include computer-assisted technologies, integration of augmented reality (AR), integration of artificial intelligence(AI) and machine learning (ML), electromagnetic technology, and advanced robotics in neurosurgery.
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Scope Of Neuronavigation Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Neuronavigation Systems Market Overview
Market Drivers –
The increasing number of neurological disorders is expected to propel the growth of neuronavigation systems going forward. Neurological disorders primarily affect the brain, spinal cord, and nerves throughout the body. The increasing cases of neurological disorders are due to aging populations, exposure to environmental pollutants and toxins, poor diet and nutritional deficiencies, and improved diagnostic capabilities. Neuronavigation systems help surgeons perform brain surgery more accurately, reducing risks and improving outcomes for patients with neurological disorders such as brain tumors and epilepsy by providing precise real-time imaging and mapping of the brain with better detection of these disorders, environmental factors, lifestyle changes such as diet and exercise habits, and, in some cases, genetic predispositions. For instance, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations focused on international public health, in 2021, neurological conditions affected over one-third of the global population, making them the leading cause of illness and disability worldwide. Further, currently, more than 3 billion people are living with a neurological condition globally. Therefore, the increasing number of cases of neurological disorders drives the neuronavigation systems market.
Market Trends –
Major companies operating in the neuronavigation systems market focus on developing innovative solutions, such as the portable microelectrode recording (MER) navigation system, to enhance surgical precision and improve patient outcomes. A portable microelectrode recording (MER) navigation system is a sophisticated medical device used primarily in neurosurgery, particularly for deep brain stimulation (DBS) procedures. This system aids in precisely placing electrodes within the brain by recording the electrical activity of neurons. For instance, in April 2024, Medrotonic, a Singapore-based medical device company, launched the NeuroSmart Portable Micro Electrode Recording (MER) Navigation System in India, designed explicitly for managing Parkinson’s disease through Deep Brain Stimulation (DBS) procedures. Deep brain stimulation (DBS) is a treatment for symptoms of Parkinson’s disease, including tremors, stiffness, and difficulty walking. NeuroSmart Portable Micro Electrode Recording (MER) Navigation System enables precise electrode placement while recording neural activity by featuring advanced neurophysiological navigation mapping. Its sophisticated capabilities enhance target localization, helping to identify the most effective target for each patient and ensuring optimal symptom relief.
The neuronavigation systems market covered in this report is segmented –
1) By Type: Optical System, Electromagnetic System
2) By Application: Neurosurgery, Craniomaxillofacial Surgery, Spinal Surgery, Other Applications
3) By End-Users: Hospitals, Neurology Clinic, Ambulatory Surgical Centers (ASCs), Research Centers
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Regional Insights –
North America was the largest region in the neuronavigation systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuronavigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neuronavigation systems market are Medtronic PLC, Stryker Corporation (SYK), Zimmer Biomet Holdings Inc., Apollo Hospitals Enterprise Ltd., Carl Zeiss Meditec (AFXA.F), Elekta AB, Renishaw PLC, Brainlab AG, Aesculap Inc., Heal Force Bio-Meditech Holdings Limited, Synaptive Medical, Northern Digital Inc., Magstim TMS, NICO Corporation, Surgical Theater, Ying-Chi TMS, Micromar, NeuroCare Group, MRI Interventions Inc., ClaroNav
Table of Contents
1. Executive Summary
2. Neuronavigation Systems Market Report Structure
3. Neuronavigation Systems Market Trends And Strategies
4. Neuronavigation Systems Market – Macro Economic Scenario
5. Neuronavigation Systems Market Size And Growth
…..
27. Neuronavigation Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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