Reports And Data

Market Size – USD 146.4 Million in 2018, Market Growth - CAGR of 10.6%, Market Trends – Product launches and research for advanced Rapid Test

NEW YORK, NY, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Orthopedic Navigation Systems Market was valued at USD 146.4 million in 2018 and is expected to reach USD 327.9 million by year 2026, at a CAGR of 10.6 %. Orthopedic navigation systems are used in surgeries for the replacement of the knee, hip, spine, joints and shoulders. Complete knee arthroplasty, revision of total knee arthroplasty, kinematic evaluation and unicompartmental knee arthroplasty (UKA) are some of the applications in which these navigation systems can be used. In the case of hip surgeries, these systems can be used for total hip arthroplasty. In spinal surgeries, orthopedic navigation systems can be used to treat defects caused by degenerative disc disease, spinal stenosis, fractures and spondylolisthesis. The growth in the medical tourism is expected to be one of the main trends that will gain popularity in the orthopedic navigation system market. Orthopedic navigation systems include intraoperative effect and preoperative planning to represent three-dimensional computer images in a relatively durable anatomy that are image-guided operating systems. Increased cases of joint reconstruction fuel market growth. The popularity of orthopedic navigation systems has increased among surgeons in developed countries due to more convenience of the system over traditional imaging techniques such as X-ray. The cost-effective solutions and increased awareness are factors expected to boost the growth of orthopedic navigation systems market in the near future. In addition, the increasing adoption of minimally invasive surgeries is expected to support market growth over the forecast period.

Technological developments in the orthopedic navigation system, increased funding for research and development, and increased incidence of osteoarthritis are other factors that are expected to increase the market for orthopedic navigation systems in years to come. The advantages associated with the orthopedic navigation system, such as shorter hospital stay, easier rehabilitation and low blood loss, are a few other factors that should grow the market over the forecast period. Computer-assisted surgeries offer improved functionality, precise alignment of implants and fewer complications, leading to less pain and less tissue damage, improves the adjusted year of life for quality.

Manufacturers of orthopedic navigation systems are increasingly interested in expanding their operations in developing countries to untapped markets and high growth potential. This, in turn, will provide quality medical care at affordable costs. However, technological innovations and new entrants may hinder the growth of the existing market for orthopedic navigation systems.

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Key Offerings of the Global Orthopedic Navigation Systems Market Report:

• Deep insights into the Orthopedic Navigation Systems market landscape
• Key details about the regional segmentation of the Orthopedic Navigation Systems market
• Analysis of the crucial market trends with regards to both current and emerging trends
• Extensive overview of the key manufacturers and prominent players of the industry
• Comprehensive study of the market segmentation and recent developments

Market Dynamics:

Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.

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Competitive Landscape:

The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.

Further key findings from the report suggest

• Orthopedic Navigation Systems is growing at a CAGR of 7% in Asia Pacific followed by North America and Europe, with 10.4 % and 10.3% CAGR, respectively. Growing geriatric population is the key factor to accelerate the market growth during forecast period across all regions.

• Robotics systems should also create competition as companies like Stryker start selling these systems alongside traditional systems. However, the high price and the recent appearance of this technology will prevent it from completely displace non-robotic navigation in the short term.

• Surgeons who have adopted orthopedic navigation systems generally continue to use the system due to clinical benefits, such as reduced exams. However, surgeons who prefer other technologies believe that navigation systems are too cumbersome, too expensive and that the extra costs do not outweigh the advantages over other technologies. This may inhibit the market growth.

• Strong economic development is boosting medical tourism in countries such as India and China, which would boost the growth by increasing consumer purchasing power.

• The growing demand for computer-assisted orthopedic surgery because of the associated benefits, such as shorter convalescence time and shorter hospital stay, is expected to drive growth in the sector.

• The market is inherently competitive, with key players primarily focusing on product innovation strategies due to changing needs of healthcare facilities, surgeons and patients.

• Knee navigation systems had the largest market share in 2016 due to increasing target population i.e., geriatric population worldwide, wider adoption by healthcare professionals and wide availability of products.

• The Asia-Pacific regional market is expected to grow profitably due to the increasing incidence of orthopedic conditions and consumer awareness of the benefits of minimally invasive surgery.

• The market is consolidating as major pharmaceuticals focus on the strategic acquisitions of small businesses to gain a competitive advantage in the coming years. For instance, in October 2019 Johnson & Johnson’s DePuy Synthes unit has entered a definitive agreement with JointPoint, Inc. to acquire its JointPoint Navigation Software

• Companies are striving to share revenue through new product development, geographic expansion and partnership alliances.

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For the purpose of this report, Reports and Data has segmented the Orthopedic Navigation Systems market on the basis of technology type, application type, end use, and region:

Technology Type (Revenue, USD Million; 2016–2026)

• Electromagnetic
• Optical
• Radiography
• Fluoroscopy-based
• Image-less
• Others

Application Type (Revenue, USD Million; 2016–2026)

• Knee surgeries
• Spine surgeries
• Hip surgeries
• Joint replacement surgeries
• Shoulder replacement surgeries

End Use (Revenue, USD Million; 2016–2026)

• Hospital
• Ambulatory Surgical Centers
• Others

Regional Analysis:

The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Orthopedic Navigation Systems market.

The regional analysis covers:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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