The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Neuronavigation Systems Global Market Report 2024, the neuronavigation systems market is expected to show significant growth in the forecast period.

• Steady Growth: The neuronavigation systems market has seen impressive growth recently, expanding from $2.12 billion in 2023 to $2.33 billion in 2024 at a 9.5% CAGR.
• Key Drivers: Increased safety and accuracy in neurosurgery, a rising demand for these systems, a growing prevalence of neurological diseases, and longer life expectancies are driving this growth.

Future Market Forecast

• Continued Expansion: By 2028, the market is projected to reach $3.38 billion, growing at a 9.8% CAGR.
• Growth Factors: Rising incidences of neurological disorders such as cancer, increased healthcare spending, and the demand for precise systems contribute to this expansion.
• Technological Trends: The future will see a surge in computer-assisted technologies, AR, AI, ML, electromagnetic technologies, and robotics, enhancing the accuracy and efficiency of neurosurgery.

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Driving Factor: Neurological Disorders

• Increasing Prevalence: Neurological disorders, such as brain tumors and epilepsy, are on the rise due to aging populations, environmental factors, and improved diagnostics.
• Precision Surgery: Neuronavigation systems provide real-time brain imaging, helping surgeons enhance surgical outcomes. These systems are crucial for handling the growing burden of neurological conditions, which currently affect over 3 billion people globally.

Major Industry Players

• Top Companies: Key players in the market include Medtronic PLC, Stryker Corporation, Zimmer Biomet, and Brainlab AG.
• Focus on Innovation: These companies are committed to enhancing neurosurgical precision, leveraging cutting-edge technologies like AI, AR, and advanced robotics.

Noteworthy Innovations

• Medtronic’s NeuroSmart MER System: Launched in April 2024, this portable system enhances deep brain stimulation (DBS) procedures for Parkinson’s disease. It records neural activity and ensures precise electrode placement, improving patient outcomes and symptom relief.

Industry Mergers and Acquisitions

• Bruker Corporation’s Acquisition of Inscopix: In November 2022, Bruker acquired Inscopix to advance neurotherapeutics. This acquisition boosts research on brain function and supports the development of advanced treatments for neurological conditions.

Regional Insights

• North America Leads: In 2023, North America was the largest region in the neuronavigation systems market.
• Asia-Pacific Growth: The Asia-Pacific region is expected to be the fastest-growing market, driven by increased healthcare expenditure and a rising number of neurological cases.

Conclusion

Neuronavigation systems are essential for the future of neurosurgery, driven by rising neurological disorder cases and technological advancements. Major players are investing in innovative solutions that promise greater precision and better patient outcomes. The market is set to expand, particularly in fast-growing regions like Asia-Pacific, with companies continuously seeking to develop more effective neurotherapeutic solutions.

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