Research Nester released a report titled “Electromagnetic Surgical Navigation System Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global electromagnetic surgical navigation system market in terms of market segmentation by application, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Electromagnetic surgical navigation system offers an accurate image data of patients during a surgical procedure. Such systems aids in providing a minimally invasive procedure which is beneficial as the blood loss is minimized and the accuracy of the surgical operation is increased. The electromagnetic surgical navigation system consists of magnetic field generators for the production of an image and magnetic field detector for the detection and display of the image.
The market of electromagnetic surgical navigation system is anticipated to grow at a significantly high CAGR of about 7.5% during the forecast period, i.e., 2019-2027. The market is segmented into applications, end user and region. Among these segments, the end user segment is further divided into hospitals, ambulatory surgical centers and others, out of which, the hospitals segment is anticipated to grow with the highest rate which can be attributed to the increasing number of hospitals all over the world along with an increase in the number of patients admitted for surgical procedures.
The market in North America is estimated to hold the largest share in the electromagnetic surgical navigation system market owing to the growing number of health risks among people living in the region as well as the increasing advancements in the technology used in hospitals and other healthcare settings. The growth is closely trailed by the market in Asia-Pacific region on the back of an ever-growing healthcare industry and the growing population in the area, especially the geriatric population.
Growing Geriatric Population To Increase The Demand For Electromagnetic Surgical Navigation Systems
The growth of this market can be attributed to the increasing technological advancement in the healthcare sector and high prevalence of diseases which require surgery in order to be treated. According to the World Bank, 9% of the total world’s population is above the age of 65. These systems are required especially for the geriatric population, which are estimated to be the target population base for this market. These factors are estimated to propel the growth of the market.
Overcoming Challenges Faced By The Market
The high cost of electromagnetic surgical navigation system is estimated to operate as a key restraint to the growth of the electromagnetic surgical navigation system market over the forecast period. Taking measures to make the product cheaper might reduce the effect of this restraint.
This report also provides the existing competitive scenario of some of the key players of the global electromagnetic surgical navigation system market which includes company profiling of Medtronic, Brainlab, Fiagon, Karl Storz, Scopis, Veran Medical Technologies, Stryker, Siemens Healthcare, Zimmer Biomet and DePuy Synthes. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electromagnetic surgical navigation system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.