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Market Insight: Global Image Guided Navigation Technology Market
The global market for image-guided navigation technologies is expected to register a substantial CAGR during the forecast period 2019-2026. The report contains data from the base year 2018 and the historical year 2017. This increase in market value can be attributed to the significant increase in the levels of chronic diseases and their burden on various healthcare institutions.
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Main market competitors:
Among the major competitors currently working in the global image-guided navigation technology market, few are Brainlab; Acclarent, Inc.; Koninklijke Philips NV; Medtronic; Stryker; B. Braun Melsungen AG; Fiagon AG Medical Technologies; Zimmer Biomet; Siemens Healthcare GmbH; KARL STORZ SE & Co. KG; Analog society; GENERAL ELECTRICITY COMPANY; 7D surgery; Varian Medical Systems, Inc.; Olympus Corporation among others.
Global Image Guided Navigation Technology Market By Product (CT Scanners, Ultrasound Systems, MRI, Endoscope, X-Ray Fluoroscopy, PET, SPECT), Technology (Optical Navigation System, Electromagnetic Navigation System, Navigation Systems By fluoroscopy, hybrid navigation system, others), Application (neurological, ENT, orthopedic, cardiac, dental, urology, gastroenterology, oncology, others), end user (hospitals and retirement homes, ambulatory surgery centers, medical practices, Clinical, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa) – Industry Trends & Forecasts to 2026
The global Image Guided Navigation Technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Image Guided Navigation Technology market for Global, Europe, North America, Asia-Pacific, South America & Middle East & Africa.
Market Definition: Global Image Guided Navigation Technology Market
Image-guided navigation technology is the use of various medical devices and visualization technology that aids physicians in diagnostic and surgical procedures. These navigation systems help to better understand the human anatomy, which contributes to the improvement of surgical and diagnostic procedures. These systems transform the anatomy of the human body into 3D or 2D images in an output device such as monitors or in physical forms.
- Growing demands from patients to undergo minimally invasive procedures; this factor is expected to fuel the growth of the market
- Growing volume of geriatric population resulting in higher number of patients likely to suffer from various chronic conditions can boost this market growth
- Various innovations and technological advancements in these systems will also boost the growth of this market
- Growing government support to increase the volume of cancer radiotherapy procedures; this factor is expected to propel the growth of the market
- Significant financial costs associated with image-guided systems; this factor is expected to hamper the growth of the market
- Presence of stringent regulatory requirements from various authorities regarding product marketing acts as a limiting factor for this market growth
- Concerns over various manufacturer product recalls are also hampering the market growth
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Segmentation: Global Image Guided Navigation Technology Market
- Computed tomography (CT) scanners
- Ultrasound systems
- Magnetic Resonance Imaging (MRI)
- X-ray fluoroscopy
- Positron emission tomography (PET)
- Single Photon Emission Tomography (SPECT)
- Optical navigation system
- Electromagnetic navigation system
- Navigation systems for fluoroscopy
- Hybrid navigation system
- Otorhinolaryngology (ENT)
- hip replacement
- Knee Replacement
Per end user
- Hospitals and retirement homes
- Ambulatory surgery centers
- Medical offices
Key Market Developments:
- In September 2019, Koninklijke Philips NV together with B. Braun Melsungen AG announced the availability of Onvision. It is an ultrasound system for real-time monitoring of needle tip tracking in specific anesthesia. This guidance system will help anesthesiologists accurately deploy needle tips for patients. The device will be on display at the “38th Annual Conference of the European Society for Regional Anesthesia and Pain Management (ESRA)” to be held in Bilbao, Spain, September 11-14, 2019
- In May 2018, Acclarent, Inc. announced the launch of “TruDI”, an image-guided navigation system for ENT procedures. The device has received 510(k) clearance from the US FDA which has been designed for endoscopic sinus surgeries, intra and paranasal procedures in patients requiring sinus surgeries
Reasons to buy this report
- Current and Future Prospects of the Global Image Guided Navigation Technology Market in Developed and Emerging Markets
- The segment that is expected to dominate the market as well as the segment that holds the highest CAGR during the forecast period
- Regions/countries expected to experience the fastest growth rates during the forecast period
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