The orthopedic navigation systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Orthopedic Navigation Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
orthopedic navigation systems market size has grown rapidly in recent
years. It will grow from $2.64 billion in 2023 to $3.03 billion in 2024
at a compound annual growth rate (CAGR) of 14.6%. The growth in the
historic period can be attributed to increasing aging population, rise
in orthopedic disorders, growing patient preference for non-invasive
treatments, surge in sports-related injuries, increased focus on
outcomes and patient safety, collaboration between surgeons and
technology developers..
The orthopedic navigation systems market size is expected to see rapid growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to continuous growth in aging population, expansion of orthopedic procedures, emphasis on value-based healthcare, focus on cost-effectiveness and efficiency, global collaboration in orthopedic research, patient-centric orthopedic care trends.. Major trends in the forecast period include emergence of navigation systems for robotic-assisted total hip arthroplasty, utilization of machine learning algorithms, application of navigation systems in pediatric orthopedics, integration of navigation systems with patient electronic health records (ehr), shift towards subscription-based models..
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Scope Of Orthopedic Navigation Systems Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Orthopedic Navigation Systems Market Overview
Market Drivers -
A
surge in cases of joint reconstruction is expected to propel the growth
of the orthopedic navigation systems market going forward. Joint
reconstruction is a surgical method that involves removing damaged or
arthritic joint components and substituting them with artificial
implants made of metal, plastic, or ceramic materials. Orthopedic
navigation systems offer direction and assess several intraoperative
factors during joint replacement or arthroplasty procedures. These are
utilized in different types of joint reconstruction surgeries, including
total knee arthroplasty, kinematic assessment, hip replacement surgery,
and more. For instance, in November 2022, according to the American
Joint Replacement Registry (AJRR) annual report published by the
American Academy of Orthopedic Surgeons (AAOS), a US-based orthopedic
organization, the hip and knee arthroplasty procedural trends in 2022
demonstrated an overall cumulative procedural volume growth of 14%
compared to the previous year. Also, the total number of total joint
arthroplasty care procedures in 2022 submitted by ASCs (ambulatory
surgical centers) has increased by 57% from 2021. Therefore, the surge
in cases of joint reconstruction is driving the growth of the orthopedic
navigation systems market.
Market Trends -
Companies operating
in orthopedic navigation systems are increasing their focus on
introducing robotic-assisted solutions to gain a competitive edge in the
market. A robotic-assisted solution for navigation in orthopedic
surgeries refers to the integration of robotic technology with
computer-assisted navigation systems to enhance precision and accuracy
during surgical procedures related to the musculoskeletal system. For
instance, in January 2021, Johnson & Johnson Medical Devices
Companies, a US-based pharmaceutical company, obtained 510(k) clearance
from the U.S. Food and Drug Administration (FDA), a US-based federal
agency, for the VELYS Robotic-Assisted Solution, a first-of-its-kind
orthopedic navigation system designed for digital precision in knee
replacement surgery. It is used to improve the accuracy and precision of
the procedure by tracking the position of surgical instruments and the
patient's anatomy in real-time during surgery. It is intended for
application in conjunction with the ATTUNE Total Knee System. The system
uses advanced planning and special technology to help surgeons make
precise bone cuts and position the implant correctly in total knee
replacement surgeries, all without requiring pre-operative imaging.
The orthopedic navigation systems market covered in this report is segmented –
1)
By Technology: Electromagnetic Localizers, Optical Tracking,
Fluoroscopy, MRI (Magnetic Resonance Imaging), Other Technologies
2) By Application: Knee surgery, Spine surgery, Hip surgery, Other Applications
3) By End Users: Hospitals, Ambulatory Surgical Centers, Other End Users
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Regional Insights -
North
America was the largest region in the orthopedic navigation systems
market in 2023. Asia-Pacific is expected to be the fastest-growing
region in the forecast period. The regions covered in the orthopedic
navigation systems market report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America, Middle East, Africa.
Key Companies -
Major
companies operating in the orthopedic navigation systems market report
are Medtronic Plc, Johnson & Johnson MedTech, Siemens Healthineers,
Stryker Corporation, GE Healthcare Technologies Inc., B. Braun Melsungen
AG, Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Karl Storz
GmbH & Co. KG, NuVasive Inc., Globus Medical Inc., MicroPort
Scientific Corporation, Brainlab Medication company, Amplitude Ortho
SAS, Augmedics Inc., Stereotaxis Inc., Intellijoint Surgical Inc.,
OrthAlign Inc., Fiagon GmbH, Kinamed Inc., Orthokey Italia SRL, Ruthless
Spine, Image Navigation Inc., Neocis Inc., Proprio Vision
Table of Contents
1. Executive Summary
2. Orthopedic Navigation Systems Market Report Structure
3. Orthopedic Navigation Systems Market Trends And Strategies
4. Orthopedic Navigation Systems Market – Macro Economic Scenario
5. Orthopedic Navigation Systems Market Size And Growth
…..
27. Orthopedic Navigation Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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