MARKET OVERVIEW- GLOBAL ENT SURGICAL NAVIGATION SYSTEM MARKET
Typical ENT disorders include cholesteatoma, dizziness, dysphagia (difficulty swallowing), ear infection (otitis media), gastric reflux, hearing aids, and hearing loss. Rise in prevalence of ENT disorders are boosting the market growth. Surgical navigation systems include utilization of imaging modalities during the surgical procedure, thereby enabling minimally invasive surgery. ENT surgical navigation system is designed to provide improved intraoperative feedback and alignment validation to surgeons during surgical procedures. Rise in adaptation of surgical navigation system to cure ENT disorders is further propelling the market growth.
MARKET DRIVERS
The key factor propelling the growth of ENT surgical navigation system market is such as prevalence of Rise in prevalence of ENT disorders are boosting the market growth. According to an article published in iMedPub LTD in 2018, the prevalence of dysphagia, which is also one of the common ENT disorders, in the general population was 16%–23%, which is expected to increase to 27% in those over 76 years of age. As per the American Academy of Sleep Medicine, 50 to 70 million adults in the U.S. people suffer from sleep apnea.
In addition, development of technologically advanced surgical navigation systems to offer more precise outcomes is acts as a driving factor. For instance, Stryker’s Scopis TGS is a next-generation solution for navigated Functional Endoscopic Sinus Surgery (FESS) that offers surgeons highly advanced image guidance and visualization capabilities in a single system.
MARKET OPPORTUNITIES
The major opportunity for ENT surgical navigation system market is increasing investments by both public and private sectors in the healthcare infrastructure is expected to increase the market. High investment in research and development in research institutes and in research industries. As increasing the technology in healthcare sectors is also the major impacting factor to increase the growth of ENT surgical navigation system market. Addition to this increasing sinus disease in population due to changing lifestyle and habits this factors is expected to increase the market growth during the forecast period.
MARKET RESTRAINTS
Price fluctuations is one of the key market restraint for the market growth. Moreover, complexities in medical procedures and high cost of surgical navigation systems is further restraining the market growth. Product recall of ENT surgical navigation systems may hamper the market. In 2017, FDA recalled Medtronic ENT surgical navigation system StealthStation AxiEM.
MARKET GROWTH CHALLENGES
The key challenge faced by the market will be lack of awareness are expected to obstruct the market growth. Lack of technical knowledge is projected to challenge the ENT Surgical Navigation System market. High capital investment required for the increase the growth of research development in the developing countries and this factor has decreased the demand during the forecast period. This is expected to face challenges in ENT Surgical Navigation System market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global Ent Surgical Navigation System market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various Ent Surgical Navigation System in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
ENT SURGICAL NAVIGATION SYSTEM MARKET SEGMENTAL OVERVIEW
The global ENT surgical navigation system market comprises of different market segment like, technology, end user and geography.
ENT SURGICAL NAVIGATION SYSTEM MARKET BY TECHNOLOGY
The different type studied in the global ENT surgical navigation system market are
- Electromagnetic navigation systems
- Optical navigation systems
- Hybrid navigation systems
Electromagnetic navigation systems, is likely to have rapid demand for the ENT surgical navigation system market. Electromagnetic navigation systems, has register the major market share in 2021 and is expected to witness growth at highest pace during the forecast period (2021-2028). In 2017, Medtronic launched a new surgical navigation system based on electromagnetic (EM) tracking technology, StealthStation ENT for surgeons treating conditions within the ear, nose, and throat (ENT) anatomy. This factors is expected to increase the growth of ENT surgical navigation system market.
ENT SURGICAL NAVIGATION SYSTEM MARKET BY END USER
The ENT surgical navigation system market by end users includes various segment like
- Hospitals
- Specialty clinics
- Ambulatory surgical centers
- Physician practices
The EMS service provider’s hospitals segment is projected to dominate the global market during the forecast period. Hospital segment is expected to dominate the ENT surgical navigation system market. This is due to extensive use of technologically advanced medical devices to offer point-of-care (PoC). Additionally greater number of patients undergoing treatments in hospitals and implementation of government initiatives for installing surgical navigation systems in hospitals.
ENT SURGICAL NAVIGATION SYSTEM MARKET BY GEOGRAPHY
The global Ent Surgical Navigation System market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
North America is likely to dominate the global market during the forecast period. According to the WHO, approximately one third of people over 65 years of age are affected by disabling hearing loss. A rise in the number of patients consequently increases the demand for surgical navigation systems, thereby boosting the regional demand for surgical navigation systems. Furthermore, Whereas Asia Pacific is expected to witness the growth at highest pace during the estimated time period.
COVID-19 IMPACT ANALYSIS ON GLOBAL ENT SURGICAL NAVIGATION SYSTEM MARKET
COVID-19 has various impact in different countries depending on their cultural norms, mitigation efforts, and health infrastructure. The economies in low and middle-income countries is affected negatively due to loss of income, the shutdown of business, human and goods movement restrictions imposed by governments, de-globalization and breakdown of markets because of both demand shocks and supply constrain. The COVID-19 outbreak will have a negligible negative impact on the single-domain antibody platforms market.
Facing the outbreak of COVID-19, the medical setting across the globe has changed dramatically, offering unprecedented challenges to routine clinical practice. Owing to restrictions on elective procedures, the pandemic has significantly impacted the surgical navigation system market. As restrictions resulted in delays to a number of procedures. According to British Journal of Surgery Report, around 28 million surgeries are cancelled and postponed during the COVID times. However, after the third wave of COVID-19 all people are back to normal life thus, market is getting back to normal stage.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Ent Surgical Navigation System market is majorly focused on expanding the global growth of Ent Surgical Navigation System with new product innovation, business expansion, increasing presence of range of manufacturer operating in Ent Surgical Navigation System has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Stryker
- Medtronic
- Brainlab
- Karl Storz
- Intuitive Surgical
- Hansen Medical
- Accuray
- Acclarent Inc
- Fiagon
- ClaroNav
RECENT DEVELOPMENT:
December 2017: Medtronic launched a new surgical navigation system based on electromagnetic (EM) tracking technology, StealthStation ENT for surgeons treating conditions within the ear, nose, and throat (ENT) anatomy.
