Neuro-navigation systems facilitate minimally invasive brain and spine surgeries by providing accurate positional data to surgeons during intra-operative procedures. These systems integrate preoperative MRI/CT scan images with real-time surgical navigation to guide surgeons during complex surgeries. They are used for operations such as brain biopsy, resection of tumors or aneurysms, deep brain stimulation for Parkinson’s disease, and spine surgeries. The global neuro-navigation systems market is estimated to be valued at US$ 2283 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global neuro-navigation systems market is driven by the growing preference for minimally invasive surgical procedures owing to advantages such as reduced risk of infection, lesser pain and scarring, shorter hospital stays, and quicker recovery times. Neuro-navigation systems enable surgeons to perform intricate brain and spine procedures with minimal incisions, thereby improving surgical outcomes. Furthermore, the rising prevalence of neurological disorders such as Parkinson’s disease, Alzheimer’s, epilepsy, and brain tumors is also propelling the demand for neuro-navigation systems in hospitals and surgical centers.
Market Dynamics:
The increasing adoption of minimally invasive surgical procedures as highlighted in the heading is a major driver propelling the growth of the neuro-navigation systems market. Minimally invasive procedures offer advantages like reduced hospital stay and recovery time along with lower surgical risks and costs. This is encouraging more surgeons and hospitals to adopt neuro-navigation systems for conducting complex brain and spine surgeries through small incisions.
Another key driver for the neuro-navigation systems market growth is the rising prevalence of neurological disorders globally. According to the Parkinson’s Foundation, over 10 million people worldwide suffer from Parkinson’s disease. Neuro-navigation systems help surgeons precisely target and remove diseased regions of the brain during deep brain stimulation procedures to control symptoms of Parkinson’s disease. Similarly, around 50 million people have Alzheimer’s dementia worldwide and it is a leading cause of death in developed countries. Neuro-navigation aids in brain biopsy and tumor resection surgery outcomes for Alzheimer’s patients.
Segment Analysis
The neuro-navigation systems market is currently dominated by the electromagnetic segment which holds around 58% of the total market share. Electromagnetic neuro-navigation systems work on the principle of generating and detecting low-frequency electromagnetic fields which are then used to localize surgical tools and implants in the brain. These systems offer high accuracy of around 1mm and are relatively easy to use which has resulted in their widespread adoption among neurosurgeons.
PEST Analysis
Political: Governments across various countries are increasingly focusing on investments in healthcare infrastructure and research & development activities for neurological disorders which is positively impacting the demand for neuro-navigation systems.
Economic: Rising per capita healthcare expenditure along with growing awareness about the benefits of minimally invasive surgeries for brain related conditions is fueling the growth of the neuro-navigation systems market.
Social: Increasing prevalence of neurological diseases such as brain tumors, epilepsy, and Parkinson’s disease is driving the need for advanced surgical guidance technologies like neuro-navigation systems for improved treatment outcomes.
Technological: Continuous innovations aimed at making neuro-navigation systems more accurate, easy-to-use and affordable is enhancing their adoption. Introduction of robotics-assisted technologies is also expected to provide new opportunities.
Key Takeaways
The Global Neuro-Navigation Systems Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regionally, North America dominated the neuro-navigation systems market and accounted for over 35% market share in 2024. This can be attributed to growing demand for brain surgeries, supportive reimbursement policies, and presence of prominent players in the region.
Key players operating in the neuro-navigation systems market are Bayer AG, BASF SE, Syngenta AG, Corteva Agriscience, FMC Corporation, Nufarm Limited, Dow AgroSciences, UPL Limited, Adama Agricultural Solutions, AMVAC Chemical Corporation, and Valent U.S.A. Bayer AG and Medtronic plc collectively hold around 30% of the total market share.
