Orthopedic Navigation Systems Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR (2024 - 2029) | 10.01 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Orthopedic Navigation Systems Market Analysis
The Orthopedic Navigation Systems Market is expected to register a CAGR of 10.01% during the forecast period.
The orthopedic navigation systems market is expected to grow due to several factors, including the benefits associated with computer-assisted surgeries (CAS), the increasing adoption of minimally invasive surgical procedures, and the rising incidence of orthopedic conditions. These elements collectively contribute to the market's expansion by enhancing surgical precision, reducing recovery times, and addressing the growing demand for effective orthopedic treatments.
- The significant advantages of computer-assisted orthopedic surgeries are expected to boost the adoption of orthopedic navigation systems, thus driving the market. For instance, according to an October 2022 article published by PubMed, bone fracture fixation surgery is a cornerstone in orthopedics and is frequently performed. Yet, post-surgery, complications in fracture healing are common, making selecting the best surgical approach a persistent challenge. As per the source, computer-assisted surgical techniques have emerged recently. These techniques aid in preoperative planning for bone fracture fixation surgeries. Thus, the significant advantages of computer-assisted surgeries are expected to boost the market's growth.
- The rise in the adoption of minimally invasive surgeries due to their advantages leads to an increase in the usage of orthopedic navigation systems and thus contributes to the market growth. For instance, according to an article published by the Journal of the American Academy of Orthopedic Surgeons in February 2023, minimally invasive surgery (MIS) of the foot and ankle is experiencing a surge in popularity. The advent of low-speed high-torque burrs, a technological breakthrough, has fueled the growth of minimally invasive orthopedic techniques for these areas.
- The above source highlights the benefits of MIS techniques for procedures like percutaneous osteotomies and bony debridement, addressing conditions such as bunions, hammertoes, metatarsalgia, bunionettes, bone spurs, and hindfoot deformities. This growing use of minimally invasive orthopedic surgeries is anticipated to drive the demand for orthopedic navigation systems.
- The key developments by key market players are also expected to boost the market's growth. For instance, in December 2022, SeaSpine Holdings Corporation achieved a significant milestone by placing its 100th 7D FLASH navigation system worldwide. Meanwhile, Smith and Nephew expanded its surgical navigation technology reach by launching Japan's CORI surgical navigation system in February 2022. This system is designed to enhance knee arthroplasty procedures, promoting greater accuracy and improved patient outcomes. Thus, such developments lead to an increase in product availability and thus drive market growth.
- The orthopedic surgical navigation systems market is poised for growth, driven by the increasing popularity of computer-assisted surgeries, the shift towards minimally invasive procedures, and innovations from key market players. However, potential challenges include the risk of complications associated with these procedures, stringent regulatory approvals, and the high cost of surgical navigation systems and products, which restrain the market growth.
Orthopedic Navigation Systems Market Trends
Knee Surgery Segmentation is Expected to Hold a Significant Market Share During the Forecast Period
- Knee surgeries are required to be performed due to various reasons for patients suffering from osteoarthritis, post-traumatic arthritis, osteoporosis, or rheumatoid arthritis, which are knee-damaging diseases. There are multiple types of knee surgeries such as arthroscopic surgery and knee replacement surgery. An increase in the geriatric population and growing demand for minimally invasive surgical procedures are expected to enhance the segment's growth during the forecast period.
- Due to their advantages, the increasing demands for minimally invasive surgical procedures for knee replacement are anticipated to contribute to the market growth. For instance, according to an article published by Orthopedic Surgery in February 2022, minimally invasive surgical techniques spread rapidly in the orthopedic field. It has been widely applied to the total knee arthroplasty surgery surgical approach. This minimally invasive approach to total knee surgery is a technical improvement and supplement to traditional knee replacement, and it has several advantages, such as small skin incision, minor trauma, and an aesthetically appealing appearance. Thus, the increasing benefits of minimally invasive knee surgery and the growing usage of these techniques are expected to boost the segment's growth.
- The growing geriatric population raises the need for minimally invasive surgeries for knees and thus boosts the market growth. For instance, according to the data published by the World Health Organization in October 2022, by 2030, 1 in 6 people worldwide will be aged 60 years or over, and the share of the population aged 60 years will reach 1.4 billion in 2030. By 2050, the number of people aged 60 will double to 2.1 billion. As knee surgeries are mainly associated with the elderly, the rising geriatric population is also expected to boost the segment's growth.
- The rising developments by key market players are also driving the segment. For instance, in March 2024, the Columbia University Irving Medical Center in New York used the STELLAR Knee mixed-reality surgical guidance system to perform total knee arthroplasty. STELLAR Knee is a mixed-reality surgical navigation solution that displays measured and computed data in 3D form, thus providing robot-like accuracy and real-time guidance to surgeons for total knee arthroplasty procedures. However, in October 2023, DePuy Synthes (an Orthopedic company of Johnson & Johnson) launched its VELYS Robotic-Assisted Solution for knee replacement surgery in European markets such as Germany, Belgium, and Switzerland. Thus, such advanced product launches for performing knee surgeries are anticipated to contribute to the segment growth.
- Thus, the rising geriatric population, the increasing adoption of minimally invasive orthopedic surgeries, and the developments by major market players are expected to enhance the segment's growth during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
- During the forecast period, North America is expected to hold a significant share of the orthopedic navigation systems market due to the growing geriatric population, increasing prevalence of orthopedic disorders, key developments by market players, and geographical expansions by local players.
- The high prevalence of orthopedic conditions is anticipated to drive the demand for orthopedic navigation systems to promote surgeries, thus contributing to the market growth in the region. For instance, according to an article published by OTA International in June 2022, around 53 million Americans either had a diagnosis of osteoporosis or are at risk for fracture due to decreased bone mass. Thus, the high prevalence of osteoporosis is expected to boost the usage of orthopedic navigation systems.
- The rising geriatric population is also a significant factor in the market's growth. For instance, according to the data published by Statistics Canada in July 2023, around 7.6 million people were 65 or older in Canada in 2023. Thus, the high burden of the senior population in the region is expected to fuel the use of orthopedic navigation systems.
- Key market players' developments are also expected to boost the market's growth. For instance, in June 2022, VisAR, an augmented reality surgical navigation system from healthcare technology leader Novarad, received FDA approval for precision-guided intraoperative spine surgery.
- Thus, the rising geriatric population, the increasing prevalence of orthopedic disorders, and the developments by major market players are expected to enhance the segment's growth during the forecast period.
Orthopedic Navigation Systems Industry Overview
The orthopedic navigation systems market is semi-consolidated. The major players in the market are engaged in product development and strategic alliances to cater to the growing global demand and gain a robust place in the market. Major companies operating in the market are Medtronic PLC, Stryker, NuVasive, Smith & Nephew, and Zimmer Biomet.
Orthopedic Navigation Systems Market Leaders
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Stryker
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Zimmer Biomet
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Smith + Nephew
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Medtronic
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NuVasive
*Disclaimer: Major Players sorted in no particular order
Orthopedic Navigation Systems Market News
- December 2023: Zimvie received US Food and Drug Administration (FDA) approval for its spinal fixation system, Vital, which may be used with Brainlab’s surgical imaging, planning, and navigation tools. Brainlab Spine and Trauma navigation tools incorporate artificial intelligence and mixed reality, thus guiding surgeons in spinal procedures.
- August 2023: Orthofix Medical Inc. launched an innovation in its advanced navigation system, 7D FLASH Navigation System Percutaneous Module 2.0, for minimally invasive back surgeries and completed its success for the first case in the United States.
Orthopedic Navigation Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Associated Advantages of Computer-Assisted Surgeries (CAS)
- 4.2.2 Increasing Adoption of Minimally Invasive Surgical Procedures
- 4.2.3 Increasing Incidence of Orthopedic Conditions
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4.3 Market Restraints
- 4.3.1 Increased Procedural Complications and Regulatory Processes for Approval
- 4.3.2 High Cost of Surgical Navigation Systems and Product
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4.4 Industry Attractiveness -Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products/Services
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Technology
- 5.1.1 Electromagnetic Localizers
- 5.1.2 Optical Tracking
- 5.1.3 Fluoroscopy
- 5.1.4 MRI
- 5.1.5 Other Technologies
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5.2 By Application
- 5.2.1 Knee surgery
- 5.2.2 Spine surgery
- 5.2.3 Hip surgery
- 5.2.4 Other Applications
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Other End Users
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 United Kingdom
- 5.4.2.2 France
- 5.4.2.3 Germany
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Japan
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East & Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East & Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Stryker
- 6.1.2 Zimmer Biomet
- 6.1.3 Smith & Nephew
- 6.1.4 Medtronic PLC
- 6.1.5 NuVasive
- 6.1.6 Arthrex Inc.
- 6.1.7 B. Braun SE
- 6.1.8 Brainlab
- 6.1.9 Siemens Healthineers
- 6.1.10 MicroPort Medical
- 6.1.11 Tynor
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityOrthopedic Navigation Systems Industry Segmentation
As per the scope of the report, the orthopedic navigation systems are developed to analyze pre-, intra-, and/or postoperative data in many modalities and provide an augmented reality 3D visualization environment to enhance clinical results of surgical orthopedic operations. Currently, there are many surgical navigation techniques and systems in orthopedic procedures. Surgical navigation is generally recognized as the next-generation technology of orthopedic surgery.
The orthopedic navigation systems market is segmented by type, application, end-user, and geography. By type, the market is segmented into electromagnetic localizers, optical tracking, fluoroscopy, MRI, and other types. By application, the market is segmented into knee surgery, spine surgery, hip surgery, replacement surgeries, and other applications. By end user, the market is segmented into ambulatory surgical centers, hospitals, and other end users. By geography, the market is segmented into North America, Asia-Pacific, Europe, Middle East & Africa, and South America. The report offers the market size in value terms in USD for all the abovementioned segments.
By Technology | Electromagnetic Localizers | |
Optical Tracking | ||
Fluoroscopy | ||
MRI | ||
Other Technologies | ||
By Application | Knee surgery | |
Spine surgery | ||
Hip surgery | ||
Other Applications | ||
By End User | Hospitals | |
Ambulatory Surgical Centers | ||
Other End Users | ||
By Geography | North America | United States |
Canada | ||
Mexico | ||
By Geography | Europe | United Kingdom |
France | ||
Germany | ||
Italy | ||
Spain | ||
Rest of Europe | ||
By Geography | Asia-Pacific | India |
China | ||
Japan | ||
Australia | ||
South Korea | ||
Rest of Asia-Pacific | ||
By Geography | Middle East & Africa | GCC |
South Africa | ||
Rest of Middle East & Africa | ||
By Geography | South America | Brazil |
Argentina | ||
Rest of South America |
Orthopedic Navigation Systems Market Research FAQs
What is the current Orthopedic Navigation Systems Market size?
The Orthopedic Navigation Systems Market is projected to register a CAGR of 10.01% during the forecast period (2024-2029)
Who are the key players in Orthopedic Navigation Systems Market?
Stryker, Zimmer Biomet, Smith + Nephew, Medtronic and NuVasive are the major companies operating in the Orthopedic Navigation Systems Market.
Which is the fastest growing region in Orthopedic Navigation Systems Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Orthopedic Navigation Systems Market?
In 2024, the North America accounts for the largest market share in Orthopedic Navigation Systems Market.
What years does this Orthopedic Navigation Systems Market cover?
The report covers the Orthopedic Navigation Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Orthopedic Navigation Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Orthopedic Navigation Systems Industry Report
Statistics for the 2024 Orthopedic Navigation Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Orthopedic Navigation Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.