Surgical Navigation Systems Market Analysis

The demand for surgical navigation systems is rapidly increasing in emerging economies as a solution to challenges posed by traditional surgeries, aiming to enhance the efficiency of patient care. Notably, countries like India and China stand out as promising markets for the global surgical navigation systems industry due to their sizable patient populations and a rising prevalence of chronic diseases. A study published in the Lancet Journal revealed that China has approximately 1.7 million individuals diagnosed with Parkinson's Disease. Similarly, in 2018, around 30,000 people in China were reported to have multiple sclerosis.

The substantial growth potential in these emerging markets is further fueled by the aging demographic, particularly in China. As per the United Nations Population Fund (UNFPA) report, the proportion of individuals aged 60 and above in India was 8% in 2015 and is projected to climb to 19% by 2050. This demographic shift is anticipated to contribute significantly to the expansion of the surgical navigation systems market in the region.

Furthermore, major industry players are actively seeking to establish a stronger foothold in these emerging markets, opening avenues for market growth. For example, in April 2018, B. Braun inaugurated five new production facilities in Malaysia, focusing on the increased manufacturing of pharmaceutical solutions, medical devices for infusion therapy, and surgical instruments. Similarly, Medtronic PLC expanded its presence in the Asia-Pacific region by establishing a new headquarters in Singapore in May 2016. This strategic move is intended to support and reinforce Medtronic's operations across 80 locations in the Asia-Pacific region.
The surge in interest from major players in the healthcare industry to extend their reach into these untapped markets have paved the way for collaborative efforts and advancements. As a case in point, B. Braun's initiative to open new production facilities in Malaysia not only addresses the growing demand for surgical navigation systems but also contributes to the local economy by creating jobs and fostering technological development. Similarly, Medtronic PLC's establishment of its Asia-Pacific headquarters in Singapore reflects a commitment to streamline operations and better cater to the diverse healthcare needs across the region.