Market Overview:
The global magnetic localization system market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for minimally invasive surgeries and rising prevalence of cancer. Additionally, technological advancements in the field of magnetic localization systems are also contributing to the growth of this market. On the basis of type, rigid magnetic localization system held a major share in 2017 and is expected to maintain its dominance during the forecast period. This can be attributed to their high accuracy and reliability as compared Flexible Magnetic Localization System (FMLS). However, FMLS is anticipated to grow at a higher CAGR during 2018-2030 owing its advantages such as easy handling and maneuverability which make it suitable for use in complex surgeries such as neurosurgery. Based on application, orthopedic surgery held a dominant share in 2017 and is projected retain its position during forecast period due high incidence rate os orthopedic disorders across globe coupled with increasing preference for minimally invasive surgeries over traditional open surgery procedures Orthopedic applications accounted for more than one-third share of global magnetic localization system market revenue pie In 2017 . ENT surgery was second largest application segment with significant revenue contribution followed by dental surgery .
Product Definition:
A magnetic localization system (MLS) is a technology that uses the earth's magnetic field to localize objects. The importance of MLS technology is its ability to provide real-time 3D position information for an object in a complex and cluttered environment, such as an operating room.
Rigid Magnetic Localization System:
Rigid magnetic localization system is used for the detection of magnetic nanoparticles in solution. It works on the basis that a metal substrate is placed in a solution containing nanoparticles to be detected. The presence of particles with magnetic properties causes them to align themselves along the direction of an applied field, due to which they generate light and can be observed optically.
Flexible Magnetic Localization System:
Flexible Magnetic Localization System (FMLS) is a non-invasive procedure used to detect and measure the magnetic field strength in various parts of the body. This system uses a combination of two techniques, which include measurement of blood flow response to magnetic fields and use of an electromagnetic coil placed on or around the body part for detecting changes in electric current.
Application Insights:
The orthopedic segment dominated the global market in 2017. This is owing to the rising number of surgeries and an increase in patient¢â‚¬â„¢s age, which increases the risk of developing postoperative complications. In addition, growing product adoption for pre- and postoperative planning as well as surgical navigation using these systems is expected to drive growth over the forecast period.
ENT application segment is expected to witness significant growth during the forecast period due to increasing demand for advanced diagnostic devices that provide accurate diagnosis with high precision and sensitivity. Furthermore, introduction of new technologies such as real-time 3D imaging will further boost product adoption during future years.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of key players and well-established healthcare infrastructure. The increasing prevalence of orthopedic, ENT, neurological disorders is also expected to drive regional growth over the forecast period. In addition, growing R&D investments by companies and increased government funding for advanced patient care are further expected to propel this growth.
Asia Pacific is anticipated to witness lucrative growth over the forecast period due to factors such as improving healthcare facilities & infrastructure coupled with rising medical tourism in emerging economies such as India and China. Moreover, an increase in disposable income levels will boost demand for technologically advanced products resulting into higher adoption rates magnetic localization systems across this region during the forecast period 8). Increasing incidence rate of brain tumor has led neurosurgeons around world using these systems more frequently which will result into high demand from this region during future years) 9).
Growth Factors:
- Increasing demand for minimally invasive surgeries: Magnetic localization system offers an accurate and real-time guidance during surgery, which is why it is increasingly being used in minimally invasive surgeries. This is because it helps to reduce the surgical time and also the chances of complications.
- Growing number of cancer patients: According to a study by the World Health Organization (WHO), there will be around 21 million new cancer cases diagnosed each year by 2030. This growing population of cancer patients will create a high demand for magnetic localization systems, as they are essential for accurately targeting tumors during radiation therapy or surgery.
- Technological advancements: The development of new and innovative technologies has helped to improve the accuracy and efficiency of magnetic localization systems, thus driving their growth in the market. For instance, recent advancements in MRI technology have made it possible to use MRIs as guidance tools during surgery, which has further increased the adoption rate of magnetic localization systems across various surgical procedures.
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Localization System Market Research Report
By Type
Rigid Magnetic Localization System, Flexible Magnetic Localization System
By Application
Orthopedic, ENT, Dental, Neurosurgery
By Companies
Medtronic, Brainlab, Karl Storz, Fiagon, Collin Medical, Scopis, Veran Medical
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
212
Number of Tables & Figures
149
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Localization System Market Report Segments:
The global Magnetic Localization System market is segmented on the basis of:
Types
Rigid Magnetic Localization System, Flexible Magnetic Localization System
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Orthopedic, ENT, Dental, Neurosurgery
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- Brainlab
- Karl Storz
- Fiagon
- Collin Medical
- Scopis
- Veran Medical
Highlights of The Magnetic Localization System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Rigid Magnetic Localization System
- Flexible Magnetic Localization System
- By Application:
- Orthopedic
- ENT
- Dental
- Neurosurgery
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Magnetic Localization System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
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- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
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- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Magnetic Localization System (MLS) is a technology used to measure the position and orientation of a magnetized object.
Some of the major players in the magnetic localization system market are Medtronic, Brainlab, Karl Storz, Fiagon, Collin Medical, Scopis, Veran Medical.
The magnetic localization system market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Magnetic Localization System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Magnetic Localization System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Magnetic Localization System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Magnetic Localization System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Magnetic Localization System Market Size & Forecast, 2018-2028
4.5.1 Magnetic Localization System Market Size and Y-o-Y Growth
4.5.2 Magnetic Localization System Market Absolute $ Opportunity
Chapter 5 Global Magnetic Localization System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Magnetic Localization System Market Size Forecast by Type
5.2.1 Rigid Magnetic Localization System
5.2.2 Flexible Magnetic Localization System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Magnetic Localization System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Magnetic Localization System Market Size Forecast by Applications
6.2.1 Orthopedic
6.2.2 ENT
6.2.3 Dental
6.2.4 Neurosurgery
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Magnetic Localization System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Magnetic Localization System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Magnetic Localization System Analysis and Forecast
9.1 Introduction
9.2 North America Magnetic Localization System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Magnetic Localization System Market Size Forecast by Type
9.6.1 Rigid Magnetic Localization System
9.6.2 Flexible Magnetic Localization System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Magnetic Localization System Market Size Forecast by Applications
9.10.1 Orthopedic
9.10.2 ENT
9.10.3 Dental
9.10.4 Neurosurgery
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Magnetic Localization System Analysis and Forecast
10.1 Introduction
10.2 Europe Magnetic Localization System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Magnetic Localization System Market Size Forecast by Type
10.6.1 Rigid Magnetic Localization System
10.6.2 Flexible Magnetic Localization System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Magnetic Localization System Market Size Forecast by Applications
10.10.1 Orthopedic
10.10.2 ENT
10.10.3 Dental
10.10.4 Neurosurgery
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Magnetic Localization System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Magnetic Localization System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Magnetic Localization System Market Size Forecast by Type
11.6.1 Rigid Magnetic Localization System
11.6.2 Flexible Magnetic Localization System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Magnetic Localization System Market Size Forecast by Applications
11.10.1 Orthopedic
11.10.2 ENT
11.10.3 Dental
11.10.4 Neurosurgery
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Magnetic Localization System Analysis and Forecast
12.1 Introduction
12.2 Latin America Magnetic Localization System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Magnetic Localization System Market Size Forecast by Type
12.6.1 Rigid Magnetic Localization System
12.6.2 Flexible Magnetic Localization System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Magnetic Localization System Market Size Forecast by Applications
12.10.1 Orthopedic
12.10.2 ENT
12.10.3 Dental
12.10.4 Neurosurgery
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Magnetic Localization System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Magnetic Localization System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Magnetic Localization System Market Size Forecast by Type
13.6.1 Rigid Magnetic Localization System
13.6.2 Flexible Magnetic Localization System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Magnetic Localization System Market Size Forecast by Applications
13.10.1 Orthopedic
13.10.2 ENT
13.10.3 Dental
13.10.4 Neurosurgery
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Magnetic Localization System Market: Competitive Dashboard
14.2 Global Magnetic Localization System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Brainlab
14.3.3 Karl Storz
14.3.4 Fiagon
14.3.5 Collin Medical
14.3.6 Scopis
14.3.7 Veran Medical
