LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global surgical navigation software market to grow at a CAGR of over 7% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global surgical navigation software market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
The surgical navigation software has been technologically upgraded many times. Technological advances and highly specialized features of the software allow surgeons to perform surgeries with high precision. With technological advances, vendors are anticipated to produce more advanced, risk-free surgical navigation software that supports computer-assisted MIS. This will boost the global surgical navigation software market.
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Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global surgical navigation software market:
Increased investments on ambulatory surgery centers
Many surgeons have started practicing surgeries using the surgical navigation systems, especially for spinal, ENT, and orthopedic disorders. This trend is expected to continue during the forecast period and many complicated surgeries will be converted to MIS with the help of these surgical navigation systems. These factors have driven the market growth for the surgical navigation software.
Ishmeet Kaur, a lead enterprise application research analyst at Technavio, says, “Insurance companies provide high reimbursements for outpatient settings compared with hospital stays. This will also encourage surgeons to adopt computer-assisted navigation surgeries for the treatment of many disorders in an outpatient facility.”
Fall of the hospital conglomerate
Before 2010, large hospitals developed research machines, while medium-sized hospitals merged to form conglomerates, and smaller hospitals struggled through various economic consequences. Large centers had advanced research infrastructure for capital-intensive surgical procedures. Since 2010, with the emergence of MIS practices, physicians and surgeons are gradually moving to start their own specialty practices and surgical centers by buying small hospitals, getting rid of unprofitable emergency rooms, and focusing on high skill and efficient procedures.
“Many hospitals have bi-weekly newsletters, interactive websites for patients, and media departments. Some advertise their use of MIS technologies, ranging from robotic surgery to surgical navigation systems, and seek to be the early adopters of new procedures. This will drive the market growth of surgical navigation software,” adds Ishmeet.
Increased government support for surgical navigation systems
The governments of many regions, such as the US and China, support the adoption of surgical navigation systems and it has increased since 2012. As of 2016, there were more than 2,000 surgical robots and navigation systems in the US. FDA has requested surgeons to get used to the new computer and robotic-assisted surgeries by accepting the fact that they can no longer physically touch the operation site under the new procedure paradigm. The Chinese government is also encouraging every province to install at least one of these machines.
Top vendors:
- Brainlab
- Medtronic
- Stryker
Browse Related Reports:
- Global Surgical Microscope Market 2017-2021
- Global Surgical Navigation Systems Market 2016-2020
- Global Surgical Power Tools Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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