Electromagnetic Surgical Navigation Systems Market Snapshot 2024-2028
Overview
Valued at ~$230.9 million in 2023, the electromagnetic surgical navigation systems market is
projected to reach ~$271.4 million by 2028, increasing at a CAGR of 3.3% over
the 2023-2028 forecast period. This Market Snapshot is part of LSI’s Market Intelligence platform, your
one-stop-shop for global medtech market sizing and analysis, procedure volume data, startup company- and
deal-tracking, curated insights, and more.
Electromagnetic surgical navigation systems are advanced computerized imaging and instrument tracking tools that
use magnetic fields and sensors attached to surgical instruments. These systems provide real-time position and
orientation data for handheld instruments, primarily used in minimally invasive and endoscopic procedures. By
integrating pre-procedural imaging, such as CT scans, the system displays a real-time 3D rendition of the
surgical instrument on the image, offering precise guidance to surgeons throughout the procedure. This
technology enhances accuracy and efficiency, especially in complex surgeries.
Products included within the scope of this analysis include:
Surgical navigation systems employing electromagnetic surgical instrument-tracking technology for real-time
guidance of surgical procedures
This Market Snapshot is intended to provide a high-level overview of the global market for electromagnetic
surgical navigation systems, with key insights into:
Unit volumes from 2023 to 2028
Market forecasts from 2023 to 2028
Market insights
Competitive landscape analysis of major competitors
Insights into key market events for strategic and startups
Electromagnetic Surgical Navigation Systems Market Snapshot Summary
| Snapshot Aspect | Data and Details |
| Base Year for Estimate | 2023 |
| Forecast Period | 2023 - 2028 |
| Market Size in 2023 | $230.9 million |
| CAGR | 3.3% |
| Projected Market Size in 2028 | $271.4 million |
Electromagnetic Surgical Navigation Systems Market Insights
The electromagnetic surgical navigation systems market, valued at $230.9 million in 2023, is projected to grow
at a CAGR of 3.3% from 2023 to 2028—a significant slowdown compared to previous forecasts. This decline is
largely due to disruptions in the market, including the 2023 FDA Class 2 recall of the SPIN thoracic navigation
system, which was developed by Veran Medical Systems (now part of Olympus). As a result, Olympus terminated the
manufacture and sale of the SPIN system, contributing to a decrease in market activity. Additionally, Medtronic,
the leading supplier in this market, reported a significant decline in sales for its surgical navigation systems
business, further impacting overall market performance.
Despite these setbacks, prices for electromagnetic surgical navigation systems are expected to increase, though
at a slower rate compared to the broader medical device market. Technological advancements and feature
enhancements will continue to drive price growth. However, the growing adoption of robotic systems that do not
rely on electromagnetic navigation, such as Intuitive’s Ion system, could pose a long-term challenge to the
market’s growth trajectory.
Competitive Landscape
The full Market Snapshot includes a robust analysis of the competitive landscape for the electromagnetic
surgical navigation systems market. This includes estimated market revenue and market share for key players,
such as Medtronic, Stryker, and Fiagon.
Select Market Events
| Company | Date | Event Type | Event |
|
Medtronic
|
9/2023 | Product Recall | Medtronic initiated a Class I recall of the StealthStation S8 due to a software glitch causing the surgical plan data to shift to a different location outside the surgical site. There have been no reported injuries or deaths. |
|
Olympus
|
9/2023 | Product Discontinuation | Olympus announced the discontinuation of the manufacture and sale of Veran Medical Technology electromagnetic navigation systems due to quality issues. |
Key Companies Covered
Brainlab
Collin
Fiagon
Heal Force
joimax
KARL STORZ
Medtronic
Olympus
Stryker
Veran Medical Systems
