Global Neuronavigation Systems Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Neuronavigation Systems Market from 2024 to 2033?
The neuronavigation systems market size has seen significant growth in recent years. It is expected to grow from $2.12 billion in 2023 to $2.33 billion in 2024, with a CAGR of 9.5%. The historical growth can be linked to the need for increased safety and accuracy in neurosurgery, rising demand for neuro-navigation systems, an increase in the risk of clinical onset and progression of neurological diseases, increased funding and investment, and a growing average life expectancy.
The neuronavigation systems market size is expected to experience strong growth in the next few years, projected to reach $3.38 billion by 2028 at a compound annual growth rate (CAGR) of 9.8%. This growth can be attributed to the increasing demand for accurate systems, rising incidence of neurological disorders such as cancer, a growing rate of neurological disorder occurrences, and an increase in healthcare expenditure. Key trends in the forecast period include the adoption of computer-assisted technologies, integration of augmented reality (AR), incorporation of artificial intelligence (AI) and machine learning (ML), advancements in electromagnetic technology, and enhancements in robotics for neurosurgery.
What Factors Are Encouraging Growth in the Neuronavigation Systems Market?
The rising prevalence of neurological disorders is predicted to accelerate the growth of neuronavigation systems. Neurological disorders primarily affect the brain, spinal cord, and peripheral nerves. The increase in such cases is linked to aging populations, environmental pollutants, poor dietary habits, and enhanced diagnostic capabilities. Neuronavigation systems assist surgeons in performing brain surgeries with greater accuracy, reducing risks and improving outcomes for patients with conditions such as brain tumors and epilepsy by offering precise real-time imaging and brain mapping.
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Which Segments Play a Vital Role in the Neuronavigation Systems Market?
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
What Trends Are Driving Change in the Neuronavigation Systems Market?
Major companies in the neuronavigation systems market are dedicated to creating 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, especially for deep brain stimulation (DBS) procedures. This system assists in accurately positioning electrodes within the brain by recording the electrical activity of neurons. For example, in April 2024, Medtronic, a Singapore-based medical device company, launched the NeuroSmart Portable Micro Electrode Recording (MER) Navigation System in India, specifically designed for managing Parkinson’s disease through Deep Brain Stimulation (DBS) procedures. Deep brain stimulation (DBS) treats symptoms of Parkinson’s disease, including tremors, stiffness, and difficulty walking. The NeuroSmart Portable Micro Electrode Recording (MER) Navigation System enables precise electrode placement while recording neural activity through advanced neurophysiological navigation mapping. Its advanced capabilities enhance target localization, helping to identify the most effective target for each patient and ensuring optimal symptom relief.
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What Regions Are Contributing Significantly to the Growth of the Neuronavigation Systems Market?
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.
The Neuronavigation Systems Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the neuronavigation systems market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Neuronavigation Systems Market Include
1. Neuronavigation Systems Market Executive Summary
2. Neuronavigation Systems Market Segments
3. Neuronavigation Systems Market Size And Template Market Growth Rate
4. Key Neuronavigation Systems Market Trends
5. Major Neuronavigation Systems Market Drivers
……
25. Key Mergers And Acquisitions In The Neuronavigation Systems Market
26. Top Neuronavigation Systems Companies
27. Neuronavigation Systems Market Opportunities And Strategies
28. Neuronavigation Systems Market, Conclusions And Recommendations
29. Appendix
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