Global Orthopedic Navigation Systems Market by Technology (Optical, Electromagnetic), by End-use (Hospitals, ASCs), by Application (Knee, Hip) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global orthopedic navigation systems market was valued at USD 1.97 Billion in 2020. It is forecast to grow at a compound annual rate (CAGR of 14.4%) over the forecast period. The market is expected to grow due to rising geriatric populations and cases of joint reconstruction, increasing healthcare spending, and increased awareness among patients and healthcare professionals. An increase in orthopedic conditions such as osteoarthritis and osteoarthritis, rheumatoidarthritis, and ligamentous injuries to the knees is evident. These conditions affect the body's muscles, bones and joints. The result is a decrease in range of motion, stiffness and swelling. This can lead to muscle pain, which may require surgical treatment.

This will increase the demand for the orthotic navigation system over the next few years. According to the CDC, 54.4 million Americans (or 1 out of 4) have arthritis. This number is expected to rise to 78 million in 2040. This shows the need for navigation systems to assist with orthopedic surgery in the near future. Many countries took the necessary steps to eliminate all non-emergency procedures in order to provide care for COVID-19 patients. Due to the restrictions on non-emergency surgical procedures, the pandemic has negatively affected the market. This resulted in major revenue losses for orthopedic companies. Stryker's net income decreased 9.1% compared to last year, while Smith & Nephew saw their revenue drop 11.2% in 2020. The market began to recover and started working quickly after the third quarter. Hospitals have slowly resumed elective procedures. In the next few years, the market for orthotic navigation systems is expected to recover quickly after the resumption full-force of surgical procedures.

Orthopedic Navigation Systems Market - The COVID-19 lockdown scenario has adversely affected the market.

Other factors that will drive industry revenue include the associated benefits of Computer-assisted Surgeries, such as lower blood loss, shorter hospital stays and easier rehabilitation. CAS plays a key role in implant alignment. It also improves functionality and quality-adjusted lives year. It causes less pain and tissue damage, and is more cost-effective than traditional surgery. The demand for minimally-invasive surgery is growing rapidly due to all of the above factors. Other factors that could increase the demand include technological advances in orthopedic surgical navigation, an increasing incidence of osteoarthritis and an increase in funding for R&D.

Application Insights

The market was dominated by the knee segment, which accounted for 46% of the total revenue in 2020. This share will continue to grow at a steady CAGR over the next years. The main factors behind its dominance are an increasing number of total-knee replacement procedures and growing awareness about the associated benefits. Segment growth is further supported by its wider application in multiple surgical conditions such as total knee joint arthroplasty and unicompartmental (partial), knee replacements (patellofemoral arthritis), and kneecap replacements.

The growth of the segment will be supported by technological advances, including minimally invasive surgery and the availability of better implant materials. The fastest CAGR is expected for the spine segment, which will grow at a rate of 14% between 2021 and 2028.

As a result of an increase in the number of spine surgeries and the prevalence of spinal disorders, this growth has been significant. The main cause of death and morbidity from spinal injuries is either a weakening or bony spine to the spinal cord or nerves. To reduce chronic functional disability, it is important to receive prompt medical and surgical treatment. Segment growth is also caused by the rising incidence of sports injuries, and the increase in road accidents and falls.

End-use Insights

In 2020, hospitals ended-use segment accounted for more than 75.0% of the total market. Hospitals provide a wide range of options for pain management and orthopedic procedures. Segment growth is further fueled by the availability of medical devices that are more advanced and increased patient footfall at these facilities.

The fastest expected CAGR for the Ambulatory Surgical Centers (ASCs), segment is the End-Use Segment. These centers are in high demand due to their ability to provide personalized care, shorter wait times and shorter stays. These centers offer innovative surgical techniques that allow for tests and procedures to be done without the need for hospital admission. Segment growth will be supported by this.

Technology Insights

With a market share of more than 57% in 2020, the optical segment was the dominant player. It is expected to continue its dominance during the forecast period. This system has made it possible to perform complex surgeries and improved technical procedures. Optical surgical navigation systems are much easier than traditional surgical systems.

It is also built on the principle stereo vision with high precision. These systems are used in medical procedures that require high precision and major access routes. Segment growth can explain these benefits.

The use of electromagnetic navigation systems that combine magnetic field producers and magnetic field detectors to create an image of the body, is known as electromagnetic navigation. This navigation system is especially important for seniors, who are highly vulnerable to many physical conditions. This will support segment growth over the next few years.

Regional Insights

North America had the highest revenue share at over 45% in 2020 due to improved infrastructure, increased awareness and favorable government initiatives related to orthopedic navigation systems. The region's market growth is also due to factors such as an increasing geriatric population and high government spending on healthcare. A well-developed reimbursement system, established manufacturers, and a well-developed reimbursement structure all contribute to this.

Asia Pacific will be the fastest growing region market between 2021 and 2028. This is due to high unmet medical needs, increased government awareness regarding minimally invasive replacement surgery, and increasing investments by manufacturers in the production of affordable orthopedic navigation systems. Geriatrics are more susceptible to orthopedic conditions, which makes them a large target population. The major contributors to the region are Japan, China, India.

Market Share Insights & Key Companies

The dominance of just a few players can be attributed to a large product portfolio and a global distribution network. Other players are also gaining market share through mergers & acquisitions, new product development and other activities.

To increase their market penetration, the key players are involved with various strategies such as product development, distribution agreements and expansion strategies. Innovators and patients have access to Wright Medical. Stryker acquired Wright Medical in November 2020.

Smith+Nephew announced the launch of the RI.HIP navigation for Total Hip Arthroplasty in July 2020. The U.S. FDA granted the device 510(k), and CE Mark certification for THA. This has led to increased competition in this sector in the future. The following are some of the major players in the global market for orthopedic navigation systems:

• B. Braun Melsungen AG

• Stryker

• Medtronic

• Smith+Nephew

• Johnson & Johnson Services, Inc.

• Zimmer Biomet

• Amplitude Surgical

• Kinamed, Inc.

• Globus Medical

• OrthAlign

Up Market Research published a new report titled “Orthopedic Navigation Systems Market research report which is segmented by Technology (Optical, Electromagnetic), by End-use (Hospitals, ASCs), by Application (Knee, Hip), By Players/Companies Medtronic, Amplitude Surgical, Kinamed Inc, Stryker, Johnson & Johnson Services Inc (DePuy Synthes), Zimmer Biomet, Smith+Nephew, B Braun Melsungen AG, OrthAlign, Globus Medical”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Orthopedic Navigation Systems Market Report Segments:

The market is segmented by Technology (Optical, Electromagnetic), by End-use (Hospitals, ASCs), by Application (Knee, Hip).

Orthopedic Navigation Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Orthopedic Navigation Systems Market

Overview of the regional outlook of the Orthopedic Navigation Systems Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Orthopedic Navigation Systems Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Orthopedic Navigation Systems Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Optical

                2. Electromagnetic

                1. Hospitals

                2. ASCs

                1. Knee

                2. Hip

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Orthopedic Navigation Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Orthopedic Navigation Systems Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.