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Research Nester published a report titled “ Magnetic Localization System market : Global Demand Analysis & Opportunity Outlook 2030 ” which delivers detailed overview of theglobalmagnetic localization system market in terms of market segmentation by product type, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global magnetic localization system market is estimated to occupy a large amount of revenue by growing at a robust CAGR during the forecast period, i.e., 2022 – 2030, owing to the rising demand for minimally invasive surgeries by patients, and increasing use of the product for proper navigation of internal body organs. Apart from these, growing prevalence of chronic diseases, and favorable reimbursement policies for diagnosis and biopsy in many developed and developing nations are also expected to significantly drive market growth in the forthcoming years.
The market is segmented by product type, application and end user. Based on application, the endoscopy segment is anticipated to occupy the largest share during the forecast period on the back of the high number of endoscopic procedures performed worldwide. Additionally, by end user, the hospitals segment is projected to grab the largest share over the forecast period attributing to the fact thar several surgeries such as neurosurgery and breast mastectomy are better performed in hospitals as the patients need to stay overnight.
Geographically, the global magnetic localization system market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the high healthcare spending, and strong presence of major market players in the region. Moreover, the market in Asia Pacific is assessed to grow by a noteworthy rate in the future owing to the escalating geriatric population, as a result of their high susceptibility to chronic diseases, and large patient pool in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Occurrence of Chronic Diseases Worldwide to Boost Market Growth
As per the Globocan, 308,102 new cases of brain and central nervous system cancer emerged across the globe in 2020. 251,329 people lost their lives to the disease.
Growing prevalence of chronic diseases such as brain cancer and osteoarthritis is largely projected to drive market growth in the near future, which can be ascribed to the increasing demand for magnetic localization systems for their incorporation with minimally invasive techniques to perform surgical procedures. It results in reduced cost and improve the workflow of technicians.
However, lack of adoption of the equipment in emerging economies is expected to operate as key restraint to the growth of the global magnetic localization system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global magnetic localization system market which includes company profiling of Medtronic plc, Collin SAS, Brainlab AG, Fiagon AG Medical Technologies, Sirius Medical BV, Endomagnetics Ltd, Stryker Corporation, KARL STORZ, Veran Medical Technologies, Cianna Medical, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global magnetic localization system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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