Market Size of Orthopedic Navigation Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| 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.
