Magnetic Localization System Market Scope
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Medtronic (Ireland), Brainlab (Germany), Fiagon AG Medical Technologies (Germany), Collin SAS (France), Endomagnetics Ltd (United Kingdom), KARL STORZ (Germany), Stryker (United States) and Veran Medical Technologies (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Magnetic Localization System market throughout the predicted period.
Medtronic (Ireland), Brainlab (Germany), Fiagon AG Medical Technologies (Germany), Collin SAS (France), Endomagnetics Ltd (United Kingdom), KARL STORZ (Germany), Stryker (United States) and Veran Medical Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Sirius Medical bv (Netherlands) and Cianna Medical (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Magnetic Localization System market by Type , by Application (Orthopedic, ENT, Dental and Neurosurgery) and Region with country level break-up.
On the basis of geography, the market of Magnetic Localization System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2023, Infineon Technologies AG partnered with NuCurrent, a developer of high-efficiency antennas for wireless power applications. This partnership aimed to include NuCurrent’s wireless power systems technology and design capabilities to broaden the market via OEMs.
In October 2023, TDK Corporation unveiled the HAL 3927 sensor, a linear, ratiometric analog output. The launched product would be designed for automotive and industrial applications.
Influencing Trend:
Rising Application such as Removal of Tumor and to Treat Other Neurological Problems
Market Growth Drivers:
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
Challenges:
High Product Differentiation and Innovation to Meet Unique End-Use Requirements
Restraints:
Lack of Adoption in Emerging Economies
Opportunities:
Technologically Advanced Products are Offering More Convenient and Less Invasive Option
Key Target Audience
Magnetic Localization System Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others