According to the report, the global orthopedic navigation systems market was valued at US$ 299.2 Mn in 2020.
Orthopedic Navigation Systems Market: Introduction
According to the report, the global orthopedic navigation systems market was valued at US$ 299.2 Mn in 2020. It is projected to expand at a CAGR of 4.3% from 2021 to 2031. Orthopedic navigation systems are being developed with the goal of analyzing pre-, intra-, and/or postoperative data in many modalities and providing an augmented reality 3-D visualization environment to enhance surgical orthopedic operation clinical results.
In terms of navigation technology, the global orthopedic navigation systems market has been classified into electromagnetic, optical, fluoroscopy, MRI, and others. In terms of application, the global orthopedic navigation systems market has been split into knee surgery, spine surgery, hip surgery, replacement surgeries, and others. Based on end user, the global orthopedic navigation systems market has been categorized into hospitals, ambulatory surgical centers, and others. Advancements in this area are further due to increasing knowledge about the usage and benefits of orthopedic navigation system and increasing incidence of osteoarthritis.
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North America dominated the global orthopedic navigation systems market in 2020, and the trend is anticipated to continue during the forecast period. Expansion of the orthopedic navigation systems market in North America can be predominantly attributed to the high rate of incidence of osteoarthritis in countries in North America, such as U.S. Furthermore, North America has a significantly high geriatric population; therefore, chance of geriatric populations getting osteoarthritis and other orthopedic conditions is considerably high, which boosts also boosts the orthopedic navigation systems market in North America. Moreover, technological developments and increasing product launches in orthopedic navigation systems fuel the market in North America.
Europe is also likely to have strong market share during the forecast period. The region’s Orthopedic Navigation Systems market is expected to be driven by product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players. The growth of major industries, launch of Orthopedic Navigation System by start-up companies in the area, and rising conditions related to orthopedic are also driving the demand for orthopedic navigation system. For instance, there are some new 50 to 270 new upper-limb amputees every year in Europe, making it for a stable population estimated around 1900 traumatic upper-limb amputees and 94 000 total upper-limb amputees. Trans-radial level amputations account for 57% of this figure, while trans-humeral procedures make up the majority, this shows the percentage of orthopedic conditions, which ultimately augments the market in Europe.
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Increase in Demand for Orthopedic Navigation Systems in Emerging as well as Developed Economies
The prevalence of osteoarthritis has increased across the world, Osteoarthritis is the second-most common rheumatologic issue, and it is the most-frequent joint disease with a prevalence of 22% to 39% in regions such as Asia. Osteoarthritis is more common in women than men; however, the prevalence increases dramatically with age. Nearly, 45% of women over the age of 65 years have symptoms, while radiological evidence is found in 70% of those over 65 years. Osteoarthritis of the knee is a major cause of mobility impairment, particularly among females. Osteoarthritis was estimated to be the tenth-leading cause of nonfatal burden.
Technological advancements have also played an important role in driving the global orthopedic navigation systems market. Manufacturers are making efforts to increase awareness among healthcare professionals and patients about the usage and benefits of orthopedic navigation systems. Surgical navigation system manufacturers in developed countries, such as the U.S., have begun to reach local communities by offering Continual Medical Education (CME) classes. This fuels the awareness among physicians and surgeons about the availability and usage of orthopedic navigation systems. Hence, increase in technological advancements and incidences of osteoarthritis is expected to drive the global orthopedic navigation systems market
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Fluoroscopy to Dominate Global Market
In terms of navigation technology, the global orthopedic navigation systems market has been segregated into electromagnetic, optical, fluoroscopy, MRI, and others. Fluoroscopy system provides better accuracy and safety than conventional fluoroscopy. This is anticipated to boost the segment during the forecast period. Electromagnetic, optical, MRI, and others are navigation technologies used in the orthopedic navigation systems market.
Knee Surgery to Offer Lucrative Opportunities
In terms of application, the orthopedic navigation systems market has been classified into knee surgery, spine surgery, hip surgery, replacement surgeries and others. According to the American Academy of Orthopedic Surgeons (AAOS), 90% of people who have a knee replacement experience a significant reduction in pain and thus, patients tend to go for surgery, which boosts the segment of the orthopedic navigation systems market.
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North America to Lead Global Market
The global orthopedic navigation systems market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2020, followed by Europe. North America accounted for a major share of the global orthopedic navigation systems market in 2020. Expansion of the orthopedic navigation systems market in North America can be primarily ascribed to the high rate of incidence of Osteoarthritis and technologically advancement in the U.S. and Canada. For instance, according to the Arthritis Foundation, 92.1 million adults either have doctor-diagnosed arthritis and/or report joint symptoms consistent with a diagnosis of arthritis. The number of adults in the U.S. with doctor-diagnosed osteoarthritis is projected to increase 49% to 78.4 million by 2040, in which 25.9% of adults. The number of adults reporting activity limitations due to their osteoarthritis is estimated to increase by 52% to 34.6 million.
The orthopedic navigation systems market in North America is likely to expand at a high CAGR from 2021 to 2031. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players are expected to drive the orthopedic navigation systems market in the region.
Competition Landscape
The study also presents profiles of leading players in the global market for Orthopedic Navigation System. These include B. Braun Melsungen AG., Amplitude SAS, Brainlab, DePuy Synthes (Johnson & Johnson), Fiagon (Intersect ENT, INC.), GE Healthcare, Intellijoint Surgical, Karl Storz GmbH & Co. KG, MicroPort Scientific Corporation, Orthokey Italia SRL, Stryker Corporation, Siemens Healthineers, and Zimmer Biomet.
Leading companies operating in the global market for orthopedic navigation system are focused on product launches, strengthening the distribution chain, and expansion of the product range to gain market share. For instance, in February 2021, Brainlab received FDA clearance for both Loop-X Mobile Imaging Robot and Cirq, a robotic surgical system. Following on CE mark approvals, the FDA clearance paves the way for Brainlab to enter the U.S. markets with the Cirq robotic alignment module for spine procedures, and Loop-X, the first fully robotic intraoperative imaging device on the market.
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