(EMAILWIRE.COM, January 29, 2019 ) The global surgical navigation systems market is expected to reach USD 906.8 Million by 2021 from USD 662.5 Million in 2016, at a CAGR of 6.5% during the forecast period (2016–2021). Growth of this market is primarily driven by factors such as the rising adoption of minimally invasive surgical procedures; growing number of regulatory approvals, and partnerships, agreements, and collaborations among market players; increasing incidence of orthopedic and neurological disorders; and high prevalence of ENT disorders. However, the high cost of surgical navigation systems and product recalls are likely to create a negative impact on the growth of this market.

The surgical navigations systems market is highly competitive with the presence of various established as well as emerging players. Some of key players in this market include Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), B. Braun Melsungen AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), and Siemens Healthineers (Germany).

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Other players in the market include companies such as Synaptive Medical, Inc. (U.S.), Sonowand AS (Norway), Olympus Corporation (Japan), Xion GmbH (Germany), ClaroNav (Canada), X-Nav Technologies, LLC (U.S.), Inliant Dental Technologies (Canada), Image Navigation (Israel), Anke (China), Blue Belt Technologies (U.S.), Collin Medical (France), Surgical Theatre LLC (U.S.), OrthoAlign, Inc. (U.S.), and 7D Surgical, Inc. (U.S).

Companies are focusing on organic as well as inorganic growth strategies such as product launches and product approvals; agreements, partnerships, and collaborations; expansion; and acquisitions. Product launches and product approvals accounted for the largest share of the overall growth strategies adopted by market players between 2013 and 2016. Various new and technologically advanced products were launched during this period. For instance, in March 2015, Stryker launched the PROFESS system, a surgical navigation system for image-guided endoscopic sinus surgery. This system is integrated with surgical navigation software that utilizes video tracking capabilities. Also, in October 2014, Brainlab introduced Knee 3, orthopedic navigation software used in image-guided surgery for total knee replacement. This enabled the company to expand its product offerings in the market. In addition to the product launches, prominent players in this market received product approvals to market their products in the global surgical navigation systems market. Some of the recent product approvals include brain navigation system (Fiagon AG) (April 2016); ENT navigation instruments (Fiagon AG) (March 2016); Expanded indication of StealthStation electromagnetic (EM) surgical navigation system instruments for pediatric and adult cranial ENT procedures (Medtronic plc) (May 2015).

Such product launches and approvals help companies to enhance their product offerings and leverage the growth opportunities in this market. Key players who adopted this growth strategy include Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), Scopis GmbH (Germany), and Fiagon GmbH (Germany). This strategy enabled market players to expand their product portfolio in the surgical navigation systems market.

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