The global orthopedic navigation systems market revenues were estimated at USD 2.8 Billion in 2023 and is anticipated to grow at a CAGR of 16.9% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach USD 10.4 Billion.
Increasing financing initiatives from the government for surgical navigation system research and development is also contributing to market growth. The high cost of surgical navigation systems and product recalls, on the other hand, are anticipated to have a negative impact on the orthopedic navigation systems market’s growth.
Businesses are concentrating on raising knowledge about the use and benefits of orthopedic navigation systems among healthcare professionals and patients. In developed countries, manufacturers of surgical navigation systems have begun to reach out to local communities by offering CME classes. As a result, physicians and experts are becoming more aware of the availability and use of orthopedic navigation systems. Furthermore, commercially marketed orthopedic navigation systems come with a six to seven-year warranty, resulting in a seven-year product sales cycle. Due to the increased demand for technology aid in orthopedic treatments, the market for orthopedic navigation systems is likely to expand throughout the forecast period.
Key Takeaways: Global Orthopedic Navigation Systems Market
- The global orthopedic navigation systems market is projected to experience significant growth, with revenues expected to increase from USD 2.8 billion in 2023 to USD 10.4 billion by 2033, representing a CAGR of 16.9%.
- Key drivers of this growth include increasing demand for minimally invasive surgeries, advancements in technology, and rising healthcare spending.
- The United States dominates the market, accounting for a significant share and expected to reach a valuation of USD 5.2 billion by 2033.
- The United Kingdom and Japan are also anticipated to experience substantial growth, with projected market values of USD 1.1 billion and USD 539 million, respectively.
- South Korea is expected to have a smaller market size but is still projected to grow at a steady pace.
- Orthopedic imaging-guided surgical systems are commonly used in various procedures, including complete knee arthroplasty, total hip arthroplasty, anterior cruciate ligament restoration, trauma, and corrective surgeries.
Orthopedic Navigation Systems Market Insights: Access Our Full Report for a Deep Dive into Emerging Trends!
Competitive Landscape:
The key players operating in Orthopedic Navigation Systems Market include Stryker, Medtronic, Johnson & Johnson Services, B. Braun Melsungen AG, Smith + Nephew, OrthAlign, Globus Medical, and Zimmer Biomet.
- In February 2021, Brainlab, received FDA clearance for both Cirq and Loop-X Mobile Imaging Robot. Following the CE mark approval, the FDA’s clearance paved the way for Brainlab to enter the U.S. market with the Cirq robotic alignment module for spine procedures, and Loop-X, a fully robotic intraoperative imaging device on the market.
- In January 2021, DePuy Synthes received 510(k) FDA clearance for VELYS robotic-assisted solution. It is designed for use with the ATTUNE total knee system.
- In November 2020, Stryker, completed the acquisition of Wright Medical, in an attempt to enhance its market position globally in trauma and extremities. It will provide the company with significant opportunities to improve outcomes, advance innovation, and increase patient reach.
- In July 2020, Smith + Nephew, publicized the introduction of the RI.HIP Navigation for Total Hip Arthroplasty (THA). This device received 510(k) clearance from the U.S. FDA and CE Mark certification for THA.
Market Segments Covered in Orthopedic Navigation Systems Market Analysis
By Application:
- Knee
- Hip
- Spine
By Technology:
- Electromagnetic
- Optical
- Other Technologies
By End Use:
- Hospitals
- Ambulatory Surgery Centers
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa(MEA)
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