The Emerging Surgical Navigation Market is set to Continue to Demonstrate Double Digit Annual Growth in India
December 22, 2016 (PRLEAP.COM) Health NewsDecember 22, 2016 - Vancouver, BC – According to a new series of reports on the surgical navigation and robotics systems market in India by iData Research (www.idataresearch.com), the market has demonstrated double digit growth and it has become a relatively attractive area to compete in. As a result, a number of companies are set to enter the market in the near future. Beyond gaining revenue from system sales, a significant amount of revenue is generated through service and maintenance fees which currently represent approximately 15% of the total surgical navigation sales.
"The growth of the orthopedic navigation systems market is driven by sales to new facilities," explains Dr. Kamran Zamanian, CEO of iData. "Growth is expected to increase as application in total knee and total hip arthroplasty increases and partial knee arthroplasty begins to use navigation technology in India."
The largest segment in the Indian surgical navigation market is represented by orthopedic applications. The market value for navigation systems with orthopedic applications more than doubled in size in comparison to any other application. On the other hand, the ENT (ears, nose and throat) market is set to demonstrate the highest growth over the next few years. By 2023, the orthopedic and neuro/spine navigation systems are expected to remain the largest segments of the navigation system market.
The overall average selling price (ASP) of navigation systems is expected to remain stable due to newer systems entering the market both on the higher and lower ends of the price spectrum, which will stabilize the ASP as institutions upgrade. For example, ENT departments often have lower budgets for navigation systems than their higher-priced neurosurgical or spinal counterparts, and the Indian market is seeing growth in both of these segments.
Medtronic is the leading competitor in the surgical navigation systems market in India. The company has established itself through brand recognition and by making systems compatible with their implant products. Medtronic competes with a number of other navigation and implant companies in India. Other leading competitors in surgical navigation include Brainlab, Stryker and Aesculap. Brainlab is expected to maintain or even increase their market share due to their strong portfolio and continuous release of improved and higher-priced systems, compared to others in the market. Stryker is currently focused on the orthopedics market, but all of their systems are well-suited for cranial, ENT and spinal procedures as well.
For Further Information
More on the surgical navigation systems market in India can be found in a series of reports published by iData Research entitled the India Market Report Suite for Surgical Navigation and Robotics Systems. The full report suite includes four segments in surgical navigation and three segments in robotics. The segmentation for surgical navigation systems includes systems with neurosurgery, spinal surgery, ENT and orthopedic hip and knee applications. The segmentation for surgical robotics systems includes minimally invasive surgery (MIS) and orthopedic robotically assisted systems. The robotics reports also explore qualitative information on the neurosurgery, spinal, and radiosurgery robotics markets.
The iData report series on surgical navigation and robotics systems covers the U.S., India, China, Japan, Australia and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about surgical robotics market data or procedure data, register online or email us at email@example.com for an India Market Report Suite for Surgical Navigation and Robotics Systems brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.