Cranial Guidance Software Market
Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
7.7% |
|
Base Year For Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Deployment, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global cranial guidance software market is expected to register a revenue CAGR of 7.7% in the forecast period from 2023 to 2031.
Cranial Guidance Software Market Fundamentals
Cranial guidance software is an image-based technology and intraoperative guidance system to support cranial surgeries. It combines new optical tracking options from a redesigned, cutting-edge camera with sophisticated algorithms of the recently launched spine guidance software. This device helps surgeons to carry out complex cranial procedures more precisely and effectively, leading to better patient outcomes and shorter surgery times. Advanced software and technology, such as cranial, enable the real-time imaging and tracking of surgical tools, giving surgeons more control and precision during operations. Cranial guidance software is intended for all medical conditions, including brain tumors, abnormal tissue, blood, or blood clots, in which computer-assisted planning and operation may be acceptable. It can be utilized for intraoperative guidance when a reference to a rigid anatomical structure can be recognized. It follows navigational instruments and displays their position and orientation in patient photos. The cranial guidance software incorporates autonomous, algorithmic processing and extensive guidance data to improve surgical confidence and ability.
Cranial Guidance Software Market Dynamics
The rising occurrence of brain tumors and other cranial diseases is the key factor propelling the market revenue growth. The aging of the population, exposure to environmental contaminants, and improvements in medical imaging technologies that enable earlier identification and diagnosis of many disorders all contribute to supporting the cranial guidance software market demand. As a result, there is a greater need for efficient techniques and treatment choices. According to the statistics provided by a foundation of the American Society of Clinical Oncology, in 2023, in the U.S., there will be 24,810 adults with primary malignant tumors of the brain or spinal cord, including 14,280 males and 10,530 women where brain tumors account for 85% to 90% of all primary central nervous system (CNS) cancers.
Furthermore, technological developments in the healthcare industry benefit the global cranial guidance software market revenue growth. Cranial guidance software is a relatively recent innovation that has grown in favor recently. The use of augmented reality (AR) technology in cranial guidance software is one of the most emerging trends in the cranial guidance software market. The surgical site can be more precisely visualized with augmented reality by superimposing real-time photographs of the patient’s anatomy onto the surgeon’s vision. This can increase surgical accuracy and lower the possibility of problems. Also, multi-modal imaging, which integrates many imaging modalities like ultrasound, MRI, and CT, is being investigated to enhance the precision and resolution of cranial guidance software.
Additionally, numerous government initiatives to encourage the usage of image-guided surgery software significantly influence the cranial guiding software market trends. These programs attempt to make surgical operations more precise and safer, lowering the chance of problems and increasing patient outcomes. The United States National Institutes of Health funds research on various medical topics, including image-guided surgery. The National Institute of Biomedical Imaging and Bioengineering (NIBIB) has invested in developing new imaging technologies for surgical procedures. The initiative supports research on implementing novel image-directed methods for guidance, navigation, tissue differentiation, and detection of illnesses during surgical procedures that can improve patient outcomes.
However, cranial guidance software’s high purchase and operating costs are the most crucial factor inhibiting the market revenue growth. The lack of skilled professionals is also considered the main cranial guidance software market challenge.
Cranial Guidance Software Market Ecosystem
This report provides the global cranial guidance software market analysis in terms of revenue, market dynamics, regional landscape, and overall competitive positioning of the major market players.
The global cranial guidance software market is analyzed from three perspectives: deployment, end user, and region.
Cranial Guidance Software Market by Deployment
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Based on the deployments, the global cranial guidance software market is segmented into cloud-based and on-premises software.
Cloud-based software accounted for a large revenue share of the cranial guidance software market in 2022. Cloud-based software for cranial guidance can be used from any location with internet connectivity, which is useful for practices with numerous locations or for doctors who require access to patient data remotely. Compared to desktop-based software, cloud-based cranial guiding software frequently requires less upfront investment in technology and infrastructure, making it potentially more affordable for practices. Additionally, as it is continuously backed up and secured by advanced security methods, cloud-based software is often safer and more dependable. It lowers the chance of data loss or breaches. This makes it an excellent choice to value data security and wish to prevent expensive downtime brought on by technical difficulties.
In contrast, without an online connection, on-premises cranial guiding software can be used, which is advantageous for doctors in remote locations or those wanting to maintain patient care during internet disruptions. On-premises software, however, has the drawback of requiring additional IT management and maintenance resources, which might be a disadvantage for smaller practices with fewer resources.
Cranial Guidance Software Market by End User
Based on the end-user, the global cranial guidance software market is segmented into hospitals, ambulatory surgery centers, and specialty clinics.
The hospital’s segment accounted for the largest revenue share of the global cranial guidance software market in 2022. For performing cranial surgery, hospitals have the required specialist equipment. Patients, therefore, choose hospitals for complex brain procedures. Hospitals offer sophisticated technology as well as highly skilled and experienced medical staff for critical cranial surgeries. Patients feel secure and confident in the caliber of hospital care. Hospitals have the resources and infrastructure required to perform complex surgeries with advanced equipment, such as image-guided surgeries, which help doctors and patients with the largest number of surgical successes. Moreover, government subsidies give hospitals access to newly launched advanced technologies. On the other hand, hospitals often have partnerships with research institutions and universities, allowing for ongoing advancements in surgical techniques and technologies to be incorporated into patient care. This ensures that patients receive the most up-to-date and effective treatments available.
Cranial Guidance Software Market by Region
Based on the region, the global cranial guidance software market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global cranial guidance software market in 2022. From the perspective of the rising prevalence of neurological illnesses and brain tumors, there is a greater demand for sophisticated cranial guiding software, which can help surgeons perform complex brain procedures with more precision and accuracy. As a result, the cranial guiding software market is predicted to increase rapidly. The American Association of Neurological Surgeons (AANS) reported that in 2019, roughly 1.7 million neurosurgical procedures were carried out in the country. About 500,000 of these involved cranial operations. This encompasses treatments for illnesses including brain tumors, aneurysms, traumatic brain injury, and common cranial surgery operations like craniotomies. Due to a sophisticated healthcare system and increased use of innovative technologies in the healthcare industry, the North American area has a considerable cranial guidance software market revenue share. The market is expected to expand significantly over the next several years due to the rising geriatric population and the demand for minimally invasive operations. The United States is the largest market in North America for cranial guiding software because of significant medical research and development expenditures. The abundance of hospitals and medical facilities in the nation outfitted with cutting-edge technology has facilitated the adoption of cranial guiding software.
On the other hand, Europe is growing with the fastest revenue CAGR in the cranial guidance software market forecast due to various causes, including well-established healthcare infrastructure and regulatory environment, which supports the development and adoption of new technologies in healthcare. Additionally, Europe has a high rate of neurological diseases such as brain tumors, strokes, and neurodegenerative diseases. According to the European Brain Council, neurological illnesses impact over 220 million individuals in Europe, costing an estimated €800 billion annually. As a result, there is an increasing demand for new technology like cranial guidance software to improve the accuracy and precision of neurosurgical treatments.
Cranial Guidance Software Market Competitive Landscape
Traditional surgical techniques are evolving due to the introduction of cranial guidance software, which has increased competition in the market for the software. Many businesses emphasize profitable expansion projects, such as new product launches, approvals, and other things like patents and events. The worldwide cranial guidance software market analysis identified two growth strategies: acquisitions, partnerships, and collaborations. Market participants have been able to expand their customer bases and business operations owing to these initiatives. It is expected that market participants in this industry will have opportunities in the future due to the rising global cranial guiding software market demand. Additionally, companies across the globe are investing in raising awareness and reimbursement, which is also expected to improve the cranial guidance software market outlook. Notable market participants operating in the global cranial guidance software market with the largest revenue share include,
Cranial Guidance Software Market Strategic Development
Cranial guidance software records instruments that are being moved and show the location and orientation of those instruments in pictures of the patient. The cranial guidance software aims to increase surgical proficiency and confidence through automatic, algorithmic processing and complete guiding data.
Advanced treatment strategies and increased cranial surgeries are the key driving factors to fuel the global cranial guidance software market revenue growth.
High costs and a need for more skilled professionals are potentially restricting the revenue growth of the global cranial guidance software market.
Key companies operating the global Cranial Guidance Software market are Stryker, Medtronic plc, Brainlab Ag, Depuy Synthes (Jhonson & Jhonson Medical Device Company), and Renishaw Plc.
The global cranial guidance software market is expected to grow at a revenue CAGR of 7.7% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain