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According to a new series of reports on the surgical navigation and robotics systems market in India by iData Research, 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.