The global Orthopedic Navigation Systems Market is on track for remarkable growth, with sales reaching US$ 2.4 billion in 2022, according to a newly-released analysis report by Future Market Insights. The market is expected to expand at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2033, ultimately achieving a valuation of US$ 13.2 billion.
The rapid growth of this market is primarily attributed to the rising demand for orthopedic surgeries, particularly knee procedures, and the increasing adoption of advanced navigation technologies in surgical practices.
Key Market Drivers:
- Technological Advancements: Innovations in orthopedic navigation systems, including enhanced imaging capabilities and real-time feedback during surgeries, are significantly improving surgical outcomes. These advancements are encouraging healthcare providers to invest in these systems.
- Rising Demand for Knee Surgeries: The orthopedic navigation systems segment for knee procedures is expected to generate the highest revenue, with an impressive projected CAGR of 19.1% from 2023 to 2033. The increasing prevalence of knee-related disorders and the growing aging population are driving this demand.
- Improved Patient Outcomes: The use of navigation systems in orthopedic surgeries enhances precision and reduces complications, leading to better patient outcomes. This efficacy is prompting more hospitals and surgical centers to adopt these technologies.
Regional Insights: North America is anticipated to dominate the orthopedic navigation systems market, driven by a robust healthcare infrastructure and significant investment in advanced surgical technologies. Europe is also expected to hold a considerable market share, while the Asia-Pacific region is projected to experience rapid growth due to increasing healthcare expenditures and rising awareness of advanced surgical techniques.
Market Outlook: With ongoing advancements in technology and a growing demand for precise surgical procedures, the orthopedic navigation systems market is poised for substantial growth over the next decade. As healthcare providers increasingly recognize the benefits of these systems, market expansion is expected to accelerate through 2033.
Key Companies Profiled
- Stryker
- Medtronic
- Johnson & Johnson Services
- B. Braun Melsungen AG
- Smith + Nephew
- OrthAlign
- Globus Medical
- Zimmer Biomet
Competitive Analysis
The key players operating in Orthopedic Navigation Systems Market include Stryker, Medtronic, Johnson & Johnson Services, B. Braun Melsungen AG, Smith + Nephew, OrthAlign, Globus Medical, and Zimmer Biomet.
- In February 2021, Brainlab, received FDA clearance for both Cirq and Loop-X Mobile Imaging Robot. Following the CE mark approval, the FDA’s clearance paved the way for Brainlab to enter the USA market with the Cirq robotic alignment module for spine procedures, and Loop-X, a fully robotic intraoperative imaging device on the market.
- In January 2021, DePuy Synthes received 510(k) FDA clearance for VELYS robotic-assisted solution. It is designed for use with the ATTUNE total knee system.
- In November 2020, Stryker, completed the acquisition of Wright Medical, in an attempt to enhance its market position globally in trauma and extremities. It will provide the company with significant opportunities to improve outcomes, advance innovation, and increase patient reach.
- In July 2020, Smith + Nephew, publicized the introduction of the RI.HIP Navigation for Total Hip Arthroplasty (THA). This device received 510(k) clearance from the USA FDA and CE Mark certification for THA.
Similarly, recent developments related to companies offering Orthopedic Navigation Systems have been tracked by the team at Future Market Insights, which are available in the full report.
Market Segments Covered in Orthopedic Navigation Systems Market Analysis
By Application:
- Knee
- Hip
- Spine
By Technology:
- Electromagnetic
- Optical
- Other Technologies
By End Use:
- Hospitals
- Ambulatory Surgery Centers
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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