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Orthopedic Navigation Systems Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Medtronic Plc, Johnson & Johnson MedTech, Siemens Healthineers, Stryker Corporation
Orthopedic Navigation Systems Market Characteristics
The Business Research Company offers in-depth market insights through Orthopedic Navigation Systems Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of technologies included in orthopedic navigation systems are electromagnetic localizers, optical tracking, fluoroscopy, MRI (magnetic resonance imaging), and others. Electromagnetic localizers refer to an economical and adaptable technology employed in clinical settings for creating a free-hand three-dimensional ultrasound system. They are used for several applications, including knee surgery, spine surgery, hip surgery, and others, and are used by various end users, such as hospitals, ambulatory surgical centers, and others.
Major Driver - Surge In Cases of Joint Reconstruction
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.
Competitive Landscape:
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
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Top Trend - Increasing Focus On Introducing Robotic-Assisted Solutions To Gain A Competitive Edge
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Orthopedic Navigation Systems Market Characteristics
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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