Magnetic Localization System Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027

 Magnetic Localization System Market is expected to exceed the market valuation of more than US$ X million by 2027 expanding at a reasonable CAGR of X% during the forecast period (2021-2027). Magnetic fields are excellent localization tools because of their ability to work in harsh conditions. Magnetic fields can work in extreme temperatures, radiation, pressure, and other extream environmental conditions. Magnetic localization system can be used in the removal of superficial blood clots, by the localization and control of helical robots. This method can be performed in vitro and ex vivo. Array of hall-effect sensors are used to estimate the position on the helical robot and precalculated magnetic field map of two synchronized rotating dipole fields. Experiments show that a helical robot with 1 mm diameter can achieve a mean absolute position error of 2.35 ± 0.4 mm. It enables the propulsion of the helical robot towards a blood clot with an average removal rate of 0.67 ± 0.47 mm3/min. The helical robot can decrease the size of the blood clot by 60.8% in 40 min and 79.7% in 75 min of mechanical rubbing once it penetrates the clot, respectively.

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Magnetic localization devices are used in real time management of tracking medical equipment’s used during minimally invasive procedures. Usually, a computer is connected to the device to provide images. The main application of the magnetic localization system is during mastectomy in bre-ast cancers to guide lymph node biopsies. This helps to identify the spread of cancer. Other than this it is also being increasingly used during open brain surgeries. An estimated 700,000 people in the United States have brain tumor according to Central Brain Tumor Registry of the United States (CBTRUS). Additionally, about 84,000 people will be diagnosed with brain tumor in 2021. Magnetic localization devices help technicians track the devices precisely and accurately. However, the main hindrance of the market growth is the lack of adoption of magnetic localization systems due to lack of awareness about the technology.

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The whole world economy came to a still during the coronavirus pandemic. Many industries suffered deep loss from the economic impact and will take some time to recover. The magnetic localization system market did find a way to come around the economic crisis, however magnetic localization system was tested to be used as a social distancing measure, which proved useful to minimize the cases of Covid-19. Various medical devices are made using magnetic sensors to measure the number of breaths taken by an individual per minute. As breathing issues are the primary symptoms of the coronavirus, this is a successful accomplishment and can have immense impact on the magnetic localization system industry. According to the article, breathing rate higher than 45 breaths per minute indicates a respiratory problem like tachypnea. Hence, this device can be used for real time monitoring of such respiratory conditions including Covid-19. The launch of these devices is expected to boost the magnetic localization system market in the coming times.

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Based on device type, the magnetic localization system market is segmented into rigid and flexible magnetic localization system. The rigid magnetic localization segment was valued at US$ X million in 2020 and is likely to reach US$ X million by 2027 growing at a CAGR of X% from 2021-2027. Using a small permanent magnet requires no power source or wire connection to the body, therefore rigid structures are preferred to restrict the movement of sensors. 2 million new cases of bre-ast cancers worldwide were reported in 2018. The increasing incidence of cancers can influence the increasing use of magnetic localization devices.

Based on application, the magnetic localization system market is segmented into orthopedic, endoscopy, dental and neurosurgery. Endoscopy using magnetic localization systems is a non-invasive procedure, which requires ingestion of a wireless robotic capsule which can be controlled with external guidance for interactive GI tract examination. The small permanent magnet placed in the capsule helps calculate the 3D location and 2D orientation of the capsule.

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Additionally, the report provides detailed initiatives that are being taken in the field of Magnetic localization system, globally. The report provide a detailed analysis of regions including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Spain, Italy, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of the World. North America dominated the market in 2020, with X% share. Medtronic, Brainlab, Fiagon AG Medical Technologies, Collin SAS, Endomagnetics Ltd, KARL STORZ, Stryker, Veran Medical Technologies, Sirius Medical bv, and Cianna Medical are some of the prominent players operating in the global Magnetic localization system market. Several M&As along with partnerships have been undertaken by these players to make Magnetic localization systems as cost-effective device.

Magnetic localization system Market Segmentation

Market Insight, by Device Type

·       Rigid magnetic localization system

·       Flexible magnetic localization system

Market Insight, by Application

·       Orthopedic

·       Endoscopy

·       Dental

·       Neurosurgery

Market Insight, by End-User

·       Hospitals

·       Ambulatory Surgical Centers

·       Others

Market Insight, by Region

• North America Magnetic localization system Market
• United States
• Canada
• Rest of North America
• Europe Magnetic localization system Market
• France
• Germany
• Italy
• Spain
• United Kingdom
• Rest of Europe
• Asia-Pacific Magnetic localization system Market
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
• Rest of World Magnetic localization system Market

Top Company Profiles

·       Medtronic

·       Brainlab

·       Fiagon AG Medical Technologies

·       Collin SAS

·       Endomagnetics Ltd

·       KARL STORZ

·       Stryker

·       Veran Medical Technologies

·       Sirius Medical bv

·       Cianna Medical