Orthopedic Navigation Systems Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2023 - 2028 |
| CAGR | 10.01 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Orthopedic Navigation Systems Market Analysis
The orthopedic navigation systems market size is estimated to record a CAGR of 10.01% during the forecast period.
The COVID-19 pandemic had a significant effect on the market initially due to the reduction in orthopedic procedures due to lockdown restrictions. For instance, according to an article published by PubMed in August 2021, a study in Chile showed that the pandemic had substantially impacted the number of orthopedic procedures performed during the initial phase of the pandemic. Thus, the COVID-19 pandemic significantly impacted the market’s growth. However, now that the pandemic has subsided, the market is expected to grow during the forecast period.
Factors such as the associated advantages of computer-assisted surgeries (CAS), increasing adoption of minimally invasive surgical procedures, and the increasing incidence of orthopedic conditions are expected to boost the market’s growth.
The increasing advantages of computer-assisted orthopedic surgeries are driving the market. For instance, according to an article published by PubMed in October 2022, bone fracture fixation surgery is considered one of the most commonly performed surgical procedures in the orthopedic field. However, fracture healing complications occur frequently after the surgery, and the choice of the most optimal surgical approach often remains challenging. The source stated that computer-assisted surgical techniques were developed in the past few years, which help in assisting preoperative planning procedures of bone fracture fixation surgery. Thus, the rising advantages of computer-assisted surgeries are expected to boost market’s growth.
According to an article published by the Journal of the American Academy of Orthopedic Surgeons in February 2023, there is a rapidly growing interest in minimally invasive surgery (MIS) of the foot and ankle. The technological advancements, specifically with the advent of low-speed high-torque burrs, have enabled the expansion of minimally invasive orthopedic surgery techniques for the foot and ankle. The source also stated that MIS techniques are particularly useful for conducting percutaneous osteotomies and bony debridement, and these can be used to address bunion deformity, hammertoes, metatarsalgia, bunionette deformity, bone spurs, and hindfoot deformity, among others. Thus, the increasing adoption of minimally invasive orthopedic surgeries is expected to boost the usage of orthopedic navigation systems.
The developments by key market players are also expected to boost market’s growth. For instance, in September 2021, Medtronic opened its first surgical robotics experience center (SREC) in India (Asia-Pacific) and showcased its Hugo Robotic-Assisted Surgery System at Gurugram, India.
Thus, the rising advantages of computer-assisted surgeries, the increasing adoption of minimally invasive orthopedic surgeries, and the developments by major market players are expected to enhance the market’s growth during the forecast period. However, increased procedural complications and regulatory processes for approval and the high cost of surgical navigation systems and products are expected to hinder this.
Orthopedic Navigation Systems Industry Segmentation
As per the scope of the report, the orthopedic navigation systems are developed to analyze pre-, intra-, and/or postoperative data in many modalities and provide an augmented reality 3D visualization environment to enhance surgical orthopedic operation clinical results. Currently, there are many surgical navigation techniques and systems in orthopedic procedures. Surgical navigation is generally recognized as the next-generation technology of orthopedic surgery.
The orthopedic navigation systems market is segmented by type (electromagnetic localizers, optical tracking, fluoroscopy, MRI, and other types), application (knee surgery, spine surgery, hip surgery, replacement surgeries, and other applications), end user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Technology | |
| Electromagnetic Localizers | |
| Optical Tracking | |
| Fluoroscopy | |
| MRI | |
| Other Technologies |
| By Application | |
| Knee surgery | |
| Spine surgery | |
| Hip surgery | |
| Other Applications |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End Users |
| By Geography | ||||||||
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Orthopedic Navigation Systems Market Trends
Knee Surgery Segmentation is Expected to Hold a Significant Market Share During the Forecast Period
Knee replacement surgery is a common joint replacement surgery for patients with osteoarthritis, post-traumatic arthritis, osteoporosis, or rheumatoid arthritis, which are knee-damaging diseases. An increase in the geriatric population and growing demand for minimally invasive surgical procedures are expected to enhance the segment’s growth during the forecast period.
For instance, according to an article published by Orthopedic Surgery in February 2022, the use of minimally invasive surgical techniques has spread rapidly in the orthopedic field. It has been widely applied to the surgical approach of total knee arthroplasty surgery. This minimally invasive approach to total knee surgery is a technical improvement and supplement to traditional knee replacement, and it has several advantages, such as small skin incision, minor trauma, and an aesthetically appealing appearance. Thus, the increasing advantages of minimally invasive knee surgery and the increasing usage of these techniques are expected to boost the segment’s growth.
According to the data published by the World Health Organization in October 2022, by 2030, 1 in 6 people worldwide will be aged 60 years or over, and the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion in 2030. By 2050, people aged 60 years and older will double to 2.1 billion. The number of persons aged 80 or older is expected to triple between 2020 and 2050 to reach 426 million. As knee surgeries are mainly associated with the elderly, the rising geriatric population is also expected to boost the segment’s growth.
The rising developments by key market players are also driving the segment. For instance, in July 2021, DePuy Synthes (an Orthopedic company of Johnson & Johnson) launched its VELYS Robotic-Assisted Solution for knee replacement surgery in Australia.
Thus, the rising geriatric population, the increasing adoption of minimally invasive orthopedic surgeries, and the developments by major market players are expected to enhance the segment’s growth during the forecast period.
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North America is Expected to Hold a Significant Market Share During the Forecast Period
North America is expected to hold a significant share of the orthopedic navigation systems market during the forecast period due to the growing geriatric population, increasing prevalence of orthopedic disorders, key developments by market players, and geographical expansions by local players.
For instance, according to an article published by OTA International in June 2022, around 53 million Americans either carry a diagnosis of osteoporosis or are at risk for fracture due to decreased bone mass. Thus, the high prevalence of osteoporosis is expected to boost the usage of orthopedic navigation systems.
The rising geriatric population is also a major factor in the market’s growth. For instance, according to the data published by Statistics Canada in July 2022, around 7,330,605 people are 65 years of age or older in Canada, accounting for 18.8% of the total population.
The developments by key market players are also expected to boost the market’s growth. For instance, in June 2022, VisAR, an augmented reality surgical navigation system from healthcare technology leader Novarad, received FDA approval for precision-guided intraoperative spine surgery.
Thus, the rising geriatric population, the increasing prevalence of orthopedic disorders, and the developments by major market players are expected to enhance the segment’s growth during the forecast period.
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Orthopedic Navigation Systems Industry Overview
The orthopedic navigation systems market is moderately fragmented. The major players in the market are engaged in product development and strategic alliances to cater to the growing global demand and gain a robust place in the market. Major companies operating in the market are B. Braun SE, Brainlab, Medtronic PLC, Stryker, MicroPort, NuVasive, Siemens Healthineers, Smith & Nephew, Wright Medical Group, Zimmer Biomet, and Taynor.
Orthopedic Navigation Systems Market Leaders
Stryker
Zimmer Biomet
Smith + Nephew
Medtronic
NuVasive
*Disclaimer: Major Players sorted in no particular order
Orthopedic Navigation Systems Market News
- In December 2022, SeaSpine Holdings Corporation announced the placement of its 100th 7D FLASH navigation system globally.
- In February 2022, Smith+Nephew launched the CORI surgical navigation system in Japan. The CORI surgical navigation system is designed to augment the surgical experience for high accuracy and improved outcomes in knee arthroplasty.
Orthopedic Navigation Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Associated Advantages of Computer-Assisted Surgeries (CAS)
4.2.2 Increasing Adoption of Minimally Invasive Surgical Procedures
4.2.3 Increasing Incidence of Orthopedic Conditions
4.3 Market Restraints
4.3.1 Increased Procedural Complications and Regulatory Processes for Approval
4.3.2 High Cost of Surgical Navigation Systems and Product
4.4 Industry Attractiveness -Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products/Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Technology
5.1.1 Electromagnetic Localizers
5.1.2 Optical Tracking
5.1.3 Fluoroscopy
5.1.4 MRI
5.1.5 Other Technologies
5.2 By Application
5.2.1 Knee surgery
5.2.2 Spine surgery
5.2.3 Hip surgery
5.2.4 Other Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End Users
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 France
5.4.2.3 Germany
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Stryker
6.1.2 Zimmer Biomet
6.1.3 Smith & Nephew
6.1.4 Medtronic PLC
6.1.5 NuVasive
6.1.6 Arthrex Inc.
6.1.7 B. Braun SE
6.1.8 Brainlab
6.1.9 Siemens Healthineers
6.1.10 MicroPort Medical
6.1.11 Tynor
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Orthopedic Navigation Systems Market Research FAQs
What is the current Orthopedic Navigation Systems Market size?
The Orthopedic Navigation Systems Market is projected to register a CAGR of 10.01% during the forecast period (2023-2028).
Who are the key players in Orthopedic Navigation Systems Market?
Stryker, Zimmer Biomet, Smith + Nephew, Medtronic and NuVasive are the major companies operating in the Orthopedic Navigation Systems Market.
Which is the fastest growing region in Orthopedic Navigation Systems Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Orthopedic Navigation Systems Market?
In 2023, the North America accounts for the largest market share in the Orthopedic Navigation Systems Market.
Orthopedic Navigation Systems Industry Report
Statistics for the 2023 Orthopedic Navigation Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Orthopedic Navigation Systems analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Orthopedic Navigation Systems Report Snapshots
