$ 6.05 Billion Orthopedic Navigation Systems Market Size by 2028: Grand View Research, Inc.

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SAN FRANCISCO, August 26, 2021 / PRNewswire / The Global orthopedic navigation systems market size is expected to reach $ 6.05 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected increase at a CAGR of 14.4% from 2021 to 2028. The growing geriatric population prone to orthopedic diseases is a key factor driving the demand for orthopedic navigation systems. Osteoarthritis and osteoporosis are the most common disorders in the population aged 70 and over. The increasing prevalence of these disorders results in an increased economic burden for many countries.

Main lessons and findings:

  • The knee segment accounted for the largest share of revenue in 2020 due to the increasing prevalence of osteoarthritis, which is the most common form of arthritis and the leading cause of chronic pain and physical disability in the elderly. .
  • Spine Segment Expected to Experience Fastest CAGR from 2021-2028 Due to Rising Incidence of Spinal Deformities
  • According to a CDC report, in 2019, about 34.0% of the adult population and 62.0% of the elderly population were affected by spinal deformities.
  • Optical navigation systems segment held the largest share of revenue in 2020 due to the affordability of the technology compared to other navigation systems
  • The hospital segment held the largest share of revenue in 2020. Hospitals use technologically advanced medical devices to improve point of service (PoC), which is driving the growth of the segment
  • North America dominated the global market in 2020 due to the availability of better quality health infrastructure and supportive government initiatives
  • The market is highly competitive as the major players focus more on product innovation strategies due to the changing needs of healthcare facilities, surgeons and patients.
  • The market is moving towards consolidation as large companies focus on strategic acquisitions of small companies to gain competitive advantage.

Read the 120-page market research report, “Orthopedic Navigation Systems Market Size, Share and Trend Analysis Report by End Use (Hospitals, ASC), Application (Knee, Hip), Technology (Electromagnetic, Optical), Region and Forecast segment, 2021-2028“, by Grand View Research

Due to the COVID-19 pandemic, non-emergency procedures have been canceled or postponed, hurting the global market as restrictions have caused delays in a number of procedures. In the UK, the number of people awaiting surgery has risen to around 10 million, from 4 million before the pandemic. While the United States is expected to have a backlog of over a million joint and spine surgeries by mid-2022. Currently, most countries have high restrictions on elective surgery. As a result of the resumption of surgeries at full speed, the market is expected to catch up in the forecast years.

Growing awareness of the benefits of minimally invasive surgery is expected to further drive product demand in the years to come. Some of the benefits include less blood loss, reduced risk of damage, condensed risk of infection and postoperative pain, and faster recovery after surgery. In addition, the introduction of technologically advanced products is driving the growth of the market. For example, in July 2021, SeaSpine Holdings Corp. has released FDA 510 (k) clearance for its 7D Percutaneous Spine Module. This module is intended for minimally invasive surgery. This means a new app and improved functionality for its Flash 7D navigation system.

Grand View Research has segmented the global orthopedic navigation systems market on the basis of application, technology, end use, and region:

  • Orthopedic Navigation Systems Application Outlook (Revenue, USD Million, 2016 – 2028)
  • Orthopedic Navigation Systems Technology Outlook (Revenue, USD Million, 2016-2028)
    • Electromagnetic
    • Optical
    • Others
  • Orthopedic Navigation Systems End Use Outlook (Revenue, USD Million, 2016 – 2028)
    • Hospitals
    • Ambulatory surgical centers (ASC)
  • Regional Outlook for Orthopedic Navigation Systems (Revenue, USD Million, 2016 – 2028)
    • North America
    • Europe
      • UK
      • Germany
      • France
      • Switzerland
      • Italy
      • Spain
      • Belgium
      • Austria
      • The Netherlands
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
    • Latin America
    • Middle East and Africa

List of key players in the orthopedic navigation systems market

  • B. Braun Melsungen SA
  • Stryker
  • Medtronic
  • Blacksmith + Nephew
  • Johnson & Johnson Services, Inc. (DePuy Synthes)
  • Zimmer Biomet
  • Surgical amplitude
  • Kinamed, Inc.
  • Globus Medical
  • OrthAlign.

Browse Grand View Research’s coverage of the Global medical device industry:

  • General Surgery Devices Market The size of the global general surgery devices market has been estimated to be $ 14.1 billion in 2018 and is expected to register a CAGR of 8.5% from 2019 to 2026. The increasing number of surgeries, coupled with technological advancements in the field, is expected to drive the market.
  • Joint Replacement Market The size of the global joint replacement market has been estimated to be $ 17.1 billion in 2020 and is expected to increase at a CAGR of 3.4% from 2021 to 2028. The increasing prevalence of orthopedic disorders, osteoporosis, osteoarthritis (OA) and lower extremity conditions is driving the market.
  • Outpatient Surgery Center Market The size of the global outpatient surgery centers market has been estimated to be $ 75.2 billion in 2018 and is expected to register a CAGR of 6.1% over the forecast period. CHWs have proven to be an effective solution in this scenario.

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About Grand View Search

Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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