Orthopedic Navigation Systems Market

The global Orthopedic Navigation Systems Market is valued at USD 2.2 Billion in 2022 and is projected to reach a value of USD 6.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 14.87% between 2023 and 2030.

Premium Insights

According to the World Health Organization, one in every six individuals worldwide will be 60 or older by 2030, with the share of the population aged 60 increasing to 1.4 billion. By 2050, the number of people aged 60 and up will have risen to 2.1 billion. By 2050, the number of persons The number of people aged 80 and up will more than triple, reaching 426 million. Because knee procedures are primarily performed on older people, the growing geriatric population is predicted to increase the segments growth. For instance, according to a report of Orthopedic Surgery in February 2022, the usage of minimally invasive surgical procedures in the orthopedic sector has spread fast. It is commonly used in the surgical approach to total knee arthroplasty surgery. This minimally invasive approach to complete knee replacement is a technical advancement and complement to standard knee replacement, with various advantages, including a small skin incision, little stress, and an aesthetically pleasing appearance. Thus, the growing benefits of minimally invasive knee surgery and the increased use of these procedures will likely drive segment expansion.

According to the Journal of the American Academy of Orthopedic Surgeons, there is an increasing interest in minimally invasive surgery (MIS) of the foot and ankle. Technological advances, particularly the introduction of low-speed high-torque burrs, have enabled the spread of minimally invasive orthopedic surgery techniques for the foot and ankle. According to the site, MIS procedures are especially beneficial for performing percutaneous osteotomies and bony debridement, which can be used to treat bunion deformity, hammertoes, metatarsalgia, bunionette deformity, bone spurs, and hindfoot deformity, among other things. As a result, the growing use of minimally invasive orthopedic operations is predicted to increase the use of Orthopedic Navigation Systems. The COVID-19 pandemic initially substantially impacted the industry due to decreased orthopedic surgeries due to lockdown restrictions. For instance, according to a report, research in Chile found that the pandemic significantly moved the number of orthopedic procedures performed during the epidemics initial phase. As a result, the COVID-19 pandemic considerably affected market growth. However, with the pandemic over, the market is likely to expand during the projection period.

Key Highlights

• North America generated more than 48.50% of the revenue share in 2022.
• The Asia Pacific region is expected to grow at the quickest CAGR from 2023 to 2030.
• Based on the Application, the Knee sector led the market in 2022.
• Based on Technology, the Optical segment recorded the most significant market share in 2022.
• Based on End-User, the Hospitals segment contributed a significant revenue share in 2022.

Economic Insights

The Orthopedic Navigation Systems market is a promising and quickly expanding industry with much growth potential. Economically, the market is critical for employment creation in the manufacturing, sales, and service sectors. It provides significant Revenue for healthcare enterprises, contributing to overall economic growth. Furthermore, Orthopedic Navigation Systems improve patient outcomes, saving healthcare expenses over time. Moreover, the markets emphasis on improving the quality of life for those with orthopedic disorders is highly valuable, bringing social and economic benefits. Despite the high initial cost of this cutting-edge technology, hospitals and healthcare facilities have continued to invest in Orthopedic Navigation Systems due to the promise of improved surgical results and long-term cost savings. For instance, according to a report by OTA International, over 53 million Americans have osteoporosis or are at risk of fracture due to decreasing bone mass. As a result of the increased prevalence of osteoporosis, the use of Orthopedic Navigation Systems is predicted to grow.

Furthermore, developing market prospects in Asia and Latin America demonstrated significant growth potential for the Orthopedic Navigation Systems industry. The Orthopedic Navigation Systems market grew steadily due to increased demand for precise and less invasive surgical procedures. Technological improvements, an aging population, and an increase in the prevalence of orthopedic disorders have driven global market growth.

Top Market Trends

• Increasing telehealth and virtual care approval: The COVID-19 pandemic has accelerated the implementation of telehealth and virtual care services, and this trend is anticipated to continue even beyond the epidemic. Reducing the need for in-person visits, telehealth enables people to access healthcare services and receive medical consultations remotely. This trend is particularly pronounced in primary care, mental health, and chronic disease management. Telehealth is widely adopted and revolutionizes how healthcare is provided because of its convenience, accessibility, and cost-effectiveness.
• Emphasis on patient-centric care and personalized medicine: Healthcare providers are moving towards a more patient-centric approach, concentrating on providing customized care that considers individual requirements, preferences, and genetic variables. Precision diagnostics, biomarker research, and advances in genetic medicine pave the way for creating targeted medications and treatments customized to each patients unique needs. Personalized medicine aims to enhance patient outcomes, lessen adverse side effects, and enhance therapeutic effectiveness. Technological developments, declining genetic testing prices, and a rising appreciation for the value of individualized care are the forces behind this movement.
• Value-based care and healthcare cost containment are emphasized: The issue of rising healthcare expenses and the requirement to enhance the value of treatment provided is one healthcare systems worldwide must address. Value-based care approaches are taking off because they put patient outcomes and quality of service above quantity. These models encourage healthcare professionals to provide high-quality, economically sensible treatment, boosting efficiency and minimizing unnecessary medical interventions. Additionally, care coordination, patient engagement, and population health management are being enhanced through healthcare technology, including telemedicine, remote patient monitoring, and digital health solutions.
• Expansion of digital therapies: Software-based medical treatments, commonly called digital therapeutics, are becoming a more cutting-edge way to manage and treat various health issues. These approaches deliver evidence-based therapeutic interventions through digital technology like mobile applications, virtual reality, and cognitive behavioral therapy programs. For the management of chronic diseases, mental health assistance, addiction treatment, and behavior modification, digital therapies provide customized, scalable, and affordable options. As regulatory frameworks change and more clinical data points to the efficacy of digital treatments, The market for these products is expected to grow considerably.

Market Segmentation

The global Orthopedic Navigation Systems market can be categorized as Application, Technology End Use, and Region. Based on Application, the market is fragmented into Knee, Hip, and Spine. Furthermore, based on the Technology, the market is further segmented into Electromagnetic, Optical, and Other Technologies. Moreover, based on the End-User segment, the market is bifurcated further into Hospitals and Ambulatory Surgical Centres (ASCs). Likewise, the market is segmented based on Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Application

Knee Sector to Account for the Largest Market Share

The knee sector led the total market during the forecast period due to increased total knee replacement surgeries and public knowledge of the benefits they provide. Further supporting segment growth are expanding uses in various surgical circumstances, including revision knee replacement, patellofemoral arthroplasty, unicompartmental (partial) knee replacement, and total knee arthroplasty. The volume of knee surgery procedures is projected to increase due to rising technological developments, such as minimally invasive procedures, and the availability of improved implant materials, which will promote the segments expansion.

Based on Technology

Optical Segment will dominate the market during Forecast Period.

The Optical sector is anticipated to dominate the market throughout the forecast period. The use of this technology has enhanced surgical techniques and enabled complex treatments. An optical surgical navigation system is easier to use than conventional surgical systems. It is also built with a high degree of precision using the stereo vision method. These systems are employed in medical procedures because they require extensive access points and high accuracy. The sectors expansion can be attributed to these technological advantages.

Based on End-Use

Hospitals held the most significant market share.

Hospitals are expected to experience the fastest growth over the forecast period. Orthopedic surgery and pain management therapies are widely available in hospitals. The segment is growing as a result of the accessibility of technologically advanced medical devices as well as an increase in patient traffic in these facilities.

Based on Region

North America accounted for the most significant Revenue.

The availability of better infrastructure, high levels of awareness, and supportive government activities relevant to promoting Orthopedic Navigation Systems in North America accounted for the most significant revenue share. In addition, factors including an aging population, high government healthcare spending, a well-established reimbursement system, and reputable manufacturers in the region all support the expansion of the regional market.

Competitive Landscape

Several major competitors competing for a competitive edge make up the competitive landscape of the Orthopedic Navigation Systems market. These companies are concentrating on product innovation, strategic relationships, market penetration, mergers and acquisitions, and global expansion to improve their market position. Leading participants in the industry include Johnson & Johnson Services Inc. (DePuy Synthes), Stryker, Zimmer Biomet, B. Braun Melsungen AG. To create cutting-edge navigation systems with increased accuracy and user-friendly features, these businesses consistently invest in research and development efforts. Additionally, partnerships with medical facilities and surgeons are being formed to collect essential knowledge and boost orthopedic navigation system use. Competition between the major companies is anticipated to increase as the market develops, resulting in more technological developments and a more excellent selection of healthcare solutions.

The global Orthopedic Navigation Systems markets key players include- Johnson & Johnson Services Inc. (U.S.) among others.

Recent Market Developments

• December 2022: SeaSpine Holdings Corporation announced deploying the world’s 100th 7D FLASH navigation system.
• February 2022: Smith+Nephew introduced the CORI surgical navigation system in Japan. The CORI surgical navigation system is designed to improve knee arthroplasty outcomes and the operating experience.
• February 2021: Brainlabs Cirq and Loop-X Mobile Imaging Robots have acquired FDA approval. Following C.E. mark certification, the FDAs permission allowed Brainlab to join the U.S. market with the Cirq robotic alignment module for spine procedures and Loop-X, the markets first fully robotic intraoperative imaging system.
• January 2021: VELYS robotic-assisted solution obtained 510(k) FDA certification from DePuy Synthes. It is intended to be used with the ATTUNE complete knee system.

Segmentation of the Global Orthopedic Navigation Systems Market