NEURO-NAVIGATION SYSTEMS MARKET ANALYSIS

Neuro-Navigation Systems MarketSize and Trends

Market Dynamics

Rising adoption of minimally invasive surgical procedures is expected to fuel growth of the neuro-navigation systems market. Moreover, increasing number of neurological surgeries performed worldwide is also expected to drive demand for neuro-navigation market. According to the AANS National Neurosurgical Procedural Statistics, in 2011, neurosurgeons performed 2,296,331 total procedures, 1,448,400 of which were spine surgeries in the U.S. Rise in number of people suffering with brain tumor and cancer leading to brain metastasis is expected to propel demand for neuro-navigation systems. According to American Brain Tumor Association, over 688,000 people in the U.S. lived with primary brain or central nervous system (CNS) tumor. The data also suggests that around 20-40% of other cancer later develops into brain metastasis. Various technical advancements in neuro-navigation system such as addition of features, higher success rate, and newer application of the device depending on its usage in various surgical procedures indicates shift of neurosurgeons on using these systems more frequently for performing neuro-surgical procedures. Moreover, ease of operation, improved quality of treatment, and improved surgical results is also expected to increase demand for neuro-navigation systems. Additionally, advantages such as reduced hospital stay and improved accuracy in neuro-surgeries are expected to be driving factors for growth of the global neuro-navigation systems market size. However, high costs associated with these systems and lack of skilled workforce to operate these systems are expected to restrain growth of the global market.

Market- Trends

Rising adoption of minimally invasive surgical procedures is expected to fuel growth of the neuro-navigation systems market. Moreover, increasing number of neurological surgeries performed worldwide is also expected to drive demand for neuro-navigation market. According to the AANS National Neurosurgical Procedural Statistics, in 2011, neurosurgeons performed 2,296,331 total procedures, 1,448,400 of which were spine surgeries in the U.S. Rise in number of people suffering with brain tumor and cancer leading to brain metastasis is expected to propel demand for neuro-navigation systems. According to American Brain Tumor Association, over 688,000 people in the U.S. lived with primary brain or central nervous system (CNS) tumor. The data also suggests that around 20-40% of other cancer later develops into brain metastasis. Various technical advancements in neuro-navigation system such as addition of features, higher success rate, and newer application of the device depending on its usage in various surgical procedures indicates shift of neurosurgeons on using these systems more frequently for performing neuro-surgical procedures. Moreover, ease of operation, improved quality of treatment, and improved surgical results is also expected to increase demand for neuro-navigation systems. Additionally, advantages such as reduced hospital stay and improved accuracy in neuro-surgeries are expected to be driving factors for growth of the global neuro-navigation systems market size. However, high costs associated with these systems and lack of skilled workforce to operate these systems are expected to restrain growth of the global market.