PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1134216
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1134216
Global Orthopedic Navigation System Market - By Technology, By Practice, By End User, By Region, Trend Analysis, Competitive Market Share, and Forecast, 2018-2028
Global Orthopedic Navigation System Market Surging to Triple Its Size Touching USD 5.75 Billion by 2028
Global Orthopedic Navigation System Market size is expanding at a robust double-digit growth rate during the forecast period, mainly due to the orthopedic navigation system's innovativeness, aging world population, increasing number of joint reconstruction cases, rising healthcare costs, and high patient and healthcare professional awareness levels.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Orthopedic Navigation System Market size at USD 1.87 billion in 2021. And BlueWeave forecasts Global Orthopedic Navigation System Market to grow at an impressive CAGR of 18.2% between 2022 and 2028 to reach a market size of USD 5.75 billion by 2028. Major growth factors for the Global Orthopedic Navigation System Market include an increasing demand for orthopedic therapies, surgeries including joint reconstruction, and solutions driven by the rapidly aging global population.
Global Orthopedic Navigation System Market - Technology Advancements
In the recent past, pedicle screw insertion efficiency was improved by using orthopedic navigation systems during orthopedic spinal surgery. Since then, it has grown in popularity among orthopedic surgeons and has emerged as a crucial tool for several orthopedic procedures, including spine, tumor, sports injury, reconstructive hip, and knee surgery. Orthopedic navigation systems are now made to provide surgeons with in-the-moment input on the operating field, allowing them to modify their surgical technique to enhance postoperative results and reduce intraoperative errors. Additionally, typical and conventional methods may not be accurate, precise, or repeatable. As a result, there is a greater need for the creation of an innovative orthopedic navigation system. This, in turn, is expected to accelerate the rate of expansion of the global orthopedic navigation system market.
Global Orthopedic Navigation System Market - Rising Demand
Global orthopedic navigation system market is predicted to boom as a result of an aging population and an increase in joint reconstruction cases, rising healthcare costs, and high patient and healthcare professional awareness levels. Orthopedic disorders including osteoporosis, osteoarthritis, rheumatoid arthritis, and ligamentous knee injuries are becoming more common. The musculoskeletal system of the body, which consists of muscles, bones, joints, nerves, ligaments, cartilage, and tendons, is impacted by these diseases. Reduced range of motion, stiffness, edema, and muscle pain follow, is necessitating subsequent surgical intervention. In the coming years, it is projected that it would increase demand for orthopedic navigation systems. The CDC estimates that 54.4 million Americans (or 1 in 4) have some kind of arthritis, and that number is anticipated to rise to 78 million by the year 2040. It suggests that the adoption of navigation systems for orthopedic procedures would increase further in the near future.
Segmental Coverage
Global Orthopedic Navigation System - By Application
The knee segment dominated the total market in 2021 and will continue to grow at a consistent CAGR over the coming years. The reasons for its dominance include an increase in total knee replacement surgeries and public knowledge of the benefits they provide. Further supporting factors for the segment growth include expanding uses in a variety of surgical circumstances, including revision knee replacement, patellofemoral arthroplasty, unicompartmental (partial) knee replacement, and total knee arthroplasty. The number of knee surgery procedures is projected to increase as a result of rising technological developments, such as minimally invasive procedures, together with the accessibility of enhanced implant materials, which will encourage segment expansion.
The spine segment, on the other hand, is projected to record growth at the fastest CAGR between 2022 and 2028. The prevalence of spinal problems is rising, which has led to an increase in the number of spine procedures. The main cause of death and morbidity due to spinal injuries is either neurological injury weakness or bony spine damage to the spinal nerves or spinal cord. To reduce persistent functional impairment, quick medical and surgical intervention is essential. Additionally, the incidence of sports injuries is rising, along with the number of falls and traffic accidents.
Regional Insights
Due to the availability of better infrastructure, high awareness levels, and supportive government initiatives relevant to the promotion of orthopedic navigation systems, North America accounted for the highest revenue share. Besides, factors including the rising elderly population, high healthcare spending by the government, a well-established system of reimbursement, and the presence of reputable manufacturers in the region all support the expansion of the regional market. Due to the high number of unmet clinical needs, the rise in government initiatives to increase patient awareness of minimally invasive procedures for replacement surgeries, and rising investments by manufacturers for the creation of affordable orthopedic navigation systems, Asia Pacific (APAC) is expected to record growth at the fastest rate from 2022 to 2028. As older people are more likely to develop orthopedic illnesses, APAC as a whole offers a sizable target market, with Japan, China, and India being the main regional contributors.
Impact of COVID-19 on Global Orthopedic Navigation System Market
Numerous industries have been disrupted by the 2019 coronavirus illness (COVID-19), which had also resulted in trade and supply chain constraints on a global scale. Many cases of this contagious illness, which ranges in severity from extremely mild to life-threatening, have been reported as a result of the COVID-19 pandemic. Outpatient visits to healthcare providers have reduced due to worries about contracting the virus. Patients are occasionally needed to present with negative COVID-19 test results even in the absence of symptoms before undergoing specific surgical procedures.
During lockdowns, hospitals might not have enough supplies to handle an unexpected patient inflow, forcing them to cancel elective treatments and rearrange ICU beds. Also, a number of procedures were postponed or canceled to protect the wellbeing of patients and personnel due to the high risk of infectious transmission among patients and healthcare professionals. However, to effectively handle these difficulties, carry out time-efficient surgery over long operative hours, and reduce the transmission of infectious diseases, the usage of surgical robots has expanded. The hospital business is anticipated to see an increase in cases that were delayed or postponed due to the pandemic as the pandemic is currently reaching its end in most nations. During the period in analysis, this is most likely to fuel the market for orthopedic navigation systems.
Competitive Landscape
To increase their market penetration, the leading companies engage in a variety of activities, including the development of new products, distribution agreements, and growth plans. For instance, Stryker finalized the acquisition of Wright Medical in November 2020 in an effort to strengthen its position in the worldwide trauma and extremities market, offering considerable prospects to better results, accelerate innovation, and broaden patient access.
Smith+Nephew launched the RI.HIP Navigation for Total Hip Arthroplasty in July 2020. (THA). The FDA of the United States granted 510(k) approval for this product, and the CE Mark was certified for THA. These activities are expected to increase the level of competition in the market in the upcoming years. Leading companies in the global orthopedic navigation systems market include AG B. Braun Melsungen, Stryker, and Medtronic.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
3. Executive Summary
4. Global Orthopedic Navigation Systems Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Advancement/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
5. Global Orthopedic Navigation Systems Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Technology
- 5.2.1.1. Electromagnetic
- 5.2.1.2. Optical
- 5.2.2. By Application
- 5.2.2.1. Knee
- 5.2.2.2. Hip
- 5.2.2.3. Spine
- 5.2.3. By End User
- 5.2.3.1. Hospitals
- 5.2.3.2. Ambulatory Surgical Centers
- 5.2.3.3. Others
- 5.2.4. By Region
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. Latin America
- 5.2.4.5. Middle East and Africa
- 5.2.1. By Technology
6. North America Orthopedic Navigation Systems Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Technology
- 6.2.2. By Application
- 6.2.3. By End User
- 6.2.4. By Country
- 6.2.4.1. United States
- 6.2.4.2. Canada
7. Europe Orthopedic Navigation Systems Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Technology
- 7.2.2. By Application
- 7.2.3. By End User
- 7.2.4. By Country
- 7.2.4.1. Germany
- 7.2.4.2. United Kingdom
- 7.2.4.3. Italy
- 7.2.4.4. France
- 7.2.4.5. Spain
- 7.2.4.6. Rest of Europe
8. Asia Pacific Orthopedic Navigation Systems Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Technology
- 8.2.2. By Application
- 8.2.3. By End User
- 8.2.4. By Country
- 8.2.4.1. China
- 8.2.4.2. India
- 8.2.4.3. Japan
- 8.2.4.4. South Korea
- 8.2.4.5. Indonesia
- 8.2.4.6. Australia
- 8.2.4.7. Thailand
- 8.2.4.8. Rest of Asia Pacific
9. Latin America Orthopedic Navigation Systems Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Technology
- 9.2.2. By Application
- 9.2.3. By End User
- 9.2.4. By Country
- 9.2.4.1. Brazil
- 9.2.4.2. Mexico
- 9.2.4.3. Rest of Latin America
10. Middle East & Africa Orthopedic Navigation Systems Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Technology
- 10.2.2. By Application
- 10.2.3. By End User
- 10.2.4. By Country
- 1.1.1.1. Saudi Arabia
- 1.1.1.2. UAE
- 1.1.1.3. South Africa
- 1.1.1.4. Rest of Middle East & Africa
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership, etc.)
12. Impact of Covid-19 on Global Orthopedic Navigation Systems Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. B. Braun Melsungen AG
- 13.2. Stryker
- 13.3. Medtronic
- 13.4. Johnson & Johnson
- 13.5. Smith & Nephew Plc
- 13.6. Zimmer Biomet
- 13.7. Amplitude Surgical
- 13.8. Kinamed Inc
- 13.9. Globus Medical
- 13.10. Orth Align
- 13.11. Other Prominent Players
14. Key Strategic Recommendations
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1: Global Orthopedic Navigation Systems Market Segmentation
- Figure 2: Global Orthopedic Navigation Systems Industry Value Chain Analysis
- Figure 3: Global Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 4: Global Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 5: Global Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 6: Global Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 7: Global Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 8: North America Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 9: North America Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 10: North America Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 11: North America Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 12: North America Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 13: Europe Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 14: Europe Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 15: Europe Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 16: Europe Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 17: Europe Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 18: Asia-Pacific Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 19: Asia-Pacific Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 20: Asia-Pacific Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 21: Asia-Pacific Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 22: Asia-Pacific Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 23: Latin America Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 24: Latin America Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 25: Latin America Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 26: Latin America Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 27: Latin America Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 28: Middle East & Africa Orthopedic Navigation Systems Market Size, By Value (USD Million), 2018-2028
- Figure 29: Middle East & Africa Orthopedic Navigation Systems Market Share (%), By Technology, By Value, 2018-2028
- Figure 30: Middle East & Africa Orthopedic Navigation Systems Market Share (%), By Application, By Value, 2018-2028
- Figure 31: Middle East & Africa Orthopedic Navigation Systems Market Share (%), By End User, By Value, 2018-2028
- Figure 32: Middle East & Africa Orthopedic Navigation Systems Market Share (%), By Country, By Value, 2018-2028
- Figure 33: Global Orthopedic Navigation Systems Market Share Analysis, 2021
List of Tables
- Table 1: Global Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), 2018-2028
- Table 2: Global Orthopedic Navigation Systems Market Size, By Application, By Value (USD Million), 2018-2028
- Table 3: Global Orthopedic Navigation Systems Market Size. By End User, By Value (USD Million), 2018-2028
- Table 4: Global Orthopedic Navigation Systems Market Size. By Country, By Value (USD Million), 2018-2028
- Table 5: North America Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), 2018-2028
- Table 6: North America Orthopedic Navigation Systems Market Size, By Application, By Value (USD Million), 2018-2028
- Table 7: 28 North America Orthopedic Navigation Systems Market Size (USD Million), By End User, By Value 2018-2028
- Table 8: 28 North America Orthopedic Navigation Systems Market Size (USD Million), By Country, By Value 2018-2028
- Table 9: Europe Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), By Value 2018-2028
- Table 10: Europe Orthopedic Navigation Systems Market Size, By Application, By Value (USD Million), By Value 2018-2028
- Table 11: 40 Europe Orthopedic Navigation Systems Market Size (USD Million), By End User, By Value 2018-2028
- Table 12: 40 Europe Orthopedic Navigation Systems Market Size (USD Million), By Country, By Value 2018-2028
- Table 13: Asia-Pacific Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), By Value 2018-2028
- Table 14: Asia-Pacific Orthopedic Navigation Systems Market Size (USD Million), By Application, By Value 2018-2028
- Table 15: Asia-Pacific Orthopedic Navigation Systems Market Size (USD Million), By End User, By Value 2018-2028
- Table 16: Asia-Pacific Orthopedic Navigation Systems Market Size (USD Million), By Country, By Value 2018-2028
- Table 17: Latin America Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), By Value 2018-2028
- Table 18: Latin America Orthopedic Navigation Systems Market Size, By Application, By Value (USD Million), 2018-2028
- Table 19: Latin America Orthopedic Navigation Systems Market Size (USD Million), By End User, By Value 2018-2028
- Table 20: Latin America Orthopedic Navigation Systems Market Size (USD Million), By Country, By Value 2018-2028
- Table 21: Middle East & Africa Orthopedic Navigation Systems Market Size, By Technology, By Value (USD Million), 2018-2028
- Table 22: Middle East & Africa Orthopedic Navigation Systems Market Size, By Application, By Value (USD Million), 2018-2028
- Table 23: Middle East & Africa Orthopedic Navigation Systems Market Size (USD Million), By End User, By Value 2018-2028
- Table 24: Middle East & Africa Orthopedic Navigation Systems Market Size (USD Million), By Country, By Value 2018-2028
- Table 25: List of Key Players and Their Offerings
- Table 26: Competitive Benchmarking, by Operating Parameters
- Table 27 B.Braun Melsungen Overview
- Table 28 B.Braun Melsungen Financial Overview
- Table 29 Stryker Company Overview
- Table 30 Stryker Financial Overview
- Table 31 Medtronic AG Company Overview
- Table 32 Medtronic AG Financial Overview
- Table 33 Johnson & Johnson Company Overview
- Table 34 Johnson & Johnson Financial Overview
- Table 35 Smith + Nephew Plc Company Overview
- Table 36 Smith + Nephew Plc Financial Overview
- Table 37 Zimmer Biomet Company Overview
- Table 38 Zimmer Biomet Corporation Financial Overview
- Table 39 Amplitude Surgical Company Overview
- Table 40 Amplitude Surgical Financial Overview
- Table 41 Kinamed Inc Company Overview
- Table 42 Kinamed Inc Financial Overview
- Table 43 Globus Medical Company Overview
- Table 44 Globus Medical Financial Overview
- Table 45 Orth Align Company Overview
- Table 46 Orth Align Financial Overview
