Neuronavigation is a technology that uses 3D imaging techniques to guide surgeons during neurosurgical procedures.
This pre-feasibility report aims to assess the viability of neuronavigation as a business opportunity. The neuronavigation system is a combination of navigation technology and neurosurgery. It is a computer-assisted technology in the field of Neurosurgery that helps surgeons to achieve the precise location of an affected tissue during and before the surgical procedure.
The global market for neuronavigation is expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the global neuronavigation systems market is projected to reach USD 3.7 billion by 2025, growing at a CAGR of 7.2% from 2020 to 2025. In India, the cost of a neuronavigation system can range from approximately INR 40 lakhs to INR 1 crore or more. The increasing prevalence of neurological disorders, the rising geriatric population, and advancements in technology are some of the key factors driving the growth of this market.
Neuronavigation technology is technically feasible and has been widely used in neurosurgical procedures. The technology involves the use of 3D imaging techniques such as MRI, CT scans, and PET scans to create a 3D map of the brain. The 3D map is then used to guide the surgeon during the procedure, allowing for greater precision and accuracy.
The initial investment for setting up a neuronavigation facility is high, depending on the type and capacity of the system. The cost of maintenance and upgrades is also significant. However, the use of neuronavigation technology can lead to reduced procedure times, improved surgical outcomes, and reduced postoperative complications, which can result in cost savings for patients and healthcare providers.
The regulatory landscape for neuronavigation technology is well-established, with the technology being classified as a medical device. The technology must comply with regulatory requirements, such as those set by the US FDA, to ensure patient safety and efficacy.
Based on the market analysis and technical feasibility, neuronavigation technology is a viable business opportunity. While the initial investment is high, the technology can lead to improved surgical outcomes and cost savings in the long run. The regulatory landscape is well-established, which assures compliance with regulatory requirements.