PUBLISHER: Grand View Research | PRODUCT CODE: 1611685
PUBLISHER: Grand View Research | PRODUCT CODE: 1611685
The global neuro-navigation systems market size is anticipated to reach USD 4.75 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 7.9% from 2025 to 2030. The rise in the number of people suffering from a brain tumors and cancer is expected to propel the demand for neuro-navigation systems. According to American Brain Tumor Association, more than 84,000 people were diagnosed with a primary brain tumor in 2021andapproximately 18,000 people died as a result of a primary malignant brain tumor. Nearly one-third (29.7%) of the brain and Central Nervous System (CNS) tumors are malignant.
The outbreak of the COVID-19 pandemic in the year 2020 have a negative impact on the neuro-navigation systems market as the majority of elective brain procedures were postponed to free-up limited space in healthcare settings to treat COVID-19 patients. However, patients suffering from COVID-19 have subsequently shown certain neurologic symptoms that are expected to create a favorable environment for market growth in the near future. For instance, as per the study in Lancet, 1 in 3 Covid patients who recovered have neurological and mental health disorders. Such instances will surge the demand for neurovascular devices.
Furthermore, an increasing number of approvals and new product launches are expected to further drive the market growth over the forecast period. Advancements in technology such as improved accuracy due to improved software and registration processes, as well as the less complicated framework are expected to propel the growth of the neuro-navigation systems market. For instance, in May 2019, MagStim, launched StimGuide TMS navigation system. The device is designed to provide precise and consistent coil positioning during treatments for major depressive disorder.