Industry Background:
Magnetic localization systems are the instruments that help in the real-time management and tracking of medical equipment used during minimally invasive procedures. A magnetic localization system is usually attached to a computer that provides image guidance. The devices use an electromagnetic field that helps in the proper navigation of internal body organs. The magnetic localization system has helped the technicians in the placement of devices precisely and accurately. Magnetic localization systems reduce cost and increase the workflow of the technicians. Magnetic localization system helps to identify the pathological site inside the human body. The main focus of the magnetic localization systems is the removal of tumors and treating other neurological problems, propelling the growth of the magnetic localization system market in the forecast period.This growth is primarily driven by Minimal Invasive Procedure using Magnetic Localization Systems Over the Traditional Open Brain Surgeries and Growing Aid From Government Organizations and Reimbursement Policies for Biopsy and Diagnosis.
Globally, a noticeable market trend is evident Rising Application such as Removal of Tumor and to Treat Other Neurological Problems. Major Players, such as Medtronic (Ireland), Brainlab (Germany), Fiagon AG Medical Technologies (Germany), Collin SAS (France), Endomagnetics Ltd (United Kingdom), KARL STORZ (Germany), Stryker (United States), Veran Medical Technologies (United States), Sirius Medical bv (Netherlands) and Cianna Medical (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Minimal Invasive Procedure using Magnetic Localization Systems Over the Traditional Open Brain Surgeries
- Growing Aid From Government Organizations and Reimbursement Policies for Biopsy and Diagnosis
Market Trend
- Rising Application such as Removal of Tumor and to Treat Other Neurological Problems
Restraints
- Lack of Adoption in Emerging Economies
Opportunities
Technologically Advanced Products are Offering More Convenient and Less Invasive Option
Challenges
High Product Differentiation and Innovation to Meet Unique End-Use Requirements
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Growth Drivers and Constraints
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Consumer Demographics
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