Orthopedic Navigation Systems Global Market Report 2024

Orthopedic navigation systems represent an advanced technological platform utilized in orthopedic surgery to assist surgeons in achieving precise and accurate placement of implants, including joint replacements or screws. These systems find application in a variety of orthopedic procedures, such as musculoskeletal trauma, spine diseases, sports injuries, and degenerative diseases.

The primary types of technologies incorporated into orthopedic navigation systems include electromagnetic localizers, optical tracking, fluoroscopy, MRI (magnetic resonance imaging), and others. Electromagnetic localizers serve as an economical and adaptable technology employed in clinical settings, particularly for creating a free-hand three-dimensional ultrasound system. They are utilized in various orthopedic applications, including knee surgery, spine surgery, hip surgery, among others. These systems are deployed by different end users, including hospitals, ambulatory surgical centers, and other relevant healthcare facilities.

The orthopedic navigation systems market research report is one of a series of new reports from The Business Research Company that provides orthopedic navigation systems market statistics, including orthopedic navigation systems industry global market size, regional shares, competitors with a orthopedic navigation systems market share, detailed orthopedic navigation systems market segments, market trends and opportunities, and any further data you may need to thrive in the orthopedic navigation systems industry. This orthopedic navigation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The orthopedic navigation systems market size has grown rapidly in recent years. It will grow from $2.64 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth observed during the historical period can be attributed to several factors, including the increasing aging population, a rise in orthopedic disorders, a growing preference among patients for non-invasive treatments, a surge in sports-related injuries, an increased focus on outcomes and patient safety, and collaborative efforts between surgeons and technology developers.

The orthopedic navigation systems market size is expected to see rapid growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The anticipated growth in the forecast period can be attributed to a sustained increase in the aging population, the expansion of orthopedic procedures, a heightened emphasis on value-based healthcare, a focus on cost-effectiveness and efficiency, global collaboration in orthopedic research, and the adoption of patient-centric orthopedic care trends. Major trends expected in the forecast period include the emergence of navigation systems for robotic-assisted total hip arthroplasty, the utilization of machine learning algorithms, the application of navigation systems in pediatric orthopedics, the integration of navigation systems with patient electronic health records (EHR), and a shift towards subscription-based models.

The anticipated increase in cases of joint reconstruction is expected to drive the growth of the orthopedic navigation systems market in the future. Joint reconstruction involves a surgical approach where damaged or arthritic joint components are removed and replaced with artificial implants crafted from materials such as metal, plastic, or ceramics. Orthopedic navigation systems play a crucial role by providing guidance and evaluating various intraoperative factors during joint replacement or arthroplasty procedures. These systems find application in diverse joint reconstruction surgeries, including total knee arthroplasty, kinematic assessment, hip replacement surgery, and more. In November 2022, the American Joint Replacement Registry (AJRR) annual report published by the American Academy of Orthopedic Surgeons (AAOS) revealed a 14% overall cumulative procedural volume growth in hip and knee arthroplasty procedures in 2022 compared to the previous year. Additionally, the total number of total joint arthroplasty care procedures submitted by ambulatory surgical centers (ASCs) increased by 57% from 2021. Hence, the surge in joint reconstruction cases is a key driver of the orthopedic navigation systems market's growth.

The increasing incidence of orthopedic disorders is also expected to contribute significantly to the growth of the orthopedic navigation systems market. Orthopedic disorders encompass various conditions affecting the musculoskeletal system, including arthritis, osteoarthritis, rheumatoid arthritis, bursitis, and other issues related to bones, joints, and soft tissues. Orthopedic navigation systems play a pivotal role in surgeries by offering real-time guidance and precise navigation, thereby enhancing the surgeon's ability to perform intricate maneuvers with precision. For example, in June 2023, Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, projected an increase in the number of people with rheumatoid arthritis (450,000), psoriatic arthritis (190,000 adults), and osteoarthritis (10 million people) compared to the figures in 2021. This marks a significant rise from 2021, with 430,000 people having rheumatoid arthritis, 100,000 adults with psoriatic arthritis, and 8.5 million people with osteoarthritis, respectively. Hence, the escalating cases of orthopedic disorders are a driving force behind the growth of the orthopedic navigation systems market.

The limited adoption of orthopedic navigation systems, primarily due to the high cost of both navigation equipment and associated treatments, is expected to impede the growth of the orthopedic navigation systems market. These systems are costly, creating a barrier to their adoption, especially in underdeveloped countries with constrained healthcare budgets. For instance, as of January 2022, the National Library of Medicine, a US-based biomedical library, highlighted the image-based robotic system as one of the most expensive technologies in the healthcare navigation system. This system incurs additional costs totaling $2600, primarily stemming from technical support, disposals, CT-Scan, and an additional 14 minutes of operating room (OR) time. The approximate cost of the navigation system is $475,000, with $225,000 allocated for Vector Vision-BrainLAB and $250,000 for Arcadis Orbic-Siemens. Consequently, the limited adoption of orthopedic navigation systems, driven by the high cost of navigation equipment and treatment, is constraining the growth of the orthopedic navigation systems market.

Major companies operating in the orthopedic navigation systems sector are strategically focusing on the development and introduction of robotic-assisted solutions to enhance their competitiveness in the market. Robotic-assisted solutions for navigation in orthopedic surgeries involve integrating robotic technology with computer-assisted navigation systems to augment precision and accuracy during surgical procedures related to the musculoskeletal system. For example, in January 2021, Johnson & Johnson Medical Devices Companies, a US-based pharmaceutical company, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the VELYS Robotic-Assisted Solution. This groundbreaking orthopedic navigation system is specifically designed for digital precision in knee replacement surgery. It aims to enhance the accuracy and precision of the procedure by tracking the position of surgical instruments and the patient's anatomy in real-time during surgery. The system is intended for use in conjunction with the ATTUNE Total Knee System and utilizes advanced planning and special technology to assist surgeons in making precise bone cuts and correctly positioning the implant in total knee replacement surgeries, all without requiring pre-operative imaging.

In January 2021, Stryker Corporation, a U.S.-based medical technology company, completed the acquisition of OrthoSensor Inc. for a sum of $4.1 million. This strategic move solidifies Stryker's position at the forefront of innovation, advancing its commitment to developing intelligent sensor technologies. The focus of this initiative encompasses intraoperative sensors, wearable devices, and intelligent implants, particularly within the joint replacement sector. By incorporating OrthoSensor into its portfolio, Stryker now possesses a gateway to intelligent orthopedic devices and data services. OrthoSensor Inc., a U.S.-based provider of orthopedic navigation systems, brings sensorized devices to the table, offering enhancements to the accuracy and precision of surgical procedures.

Major companies operating in the orthopedic navigation systems market report are Medtronic Plc, Johnson & Johnson MedTech, Siemens Healthineers, Stryker Corporation, GE Healthcare Technologies Inc., B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Karl Storz GmbH & Co. KG, NuVasive Inc., Globus Medical Inc., MicroPort Scientific Corporation, Brainlab Medication company, Amplitude Ortho SAS, Augmedics Inc., Stereotaxis Inc., Intellijoint Surgical Inc., OrthAlign Inc., Fiagon GmbH, Kinamed Inc., Orthokey Italia SRL, Ruthless Spine, Image Navigation Inc., Neocis Inc., Proprio Vision.

North America was the largest region in the orthopedic navigation systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the orthopedic navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the orthopedic navigation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

Orthopedic navigation systems market consists of revenue earned by entities by providing real-time during surgery and stereoscopic vision. The market value includes the value of related goods sold by the service provider or included within the service offering. Orthopedic navigation systems market also includes sales of surgical navigation systems, model-based navigation systems, and commercialized orthopedic navigation systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Orthopedic Navigation Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on orthopedic navigation systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for orthopedic navigation systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The orthopedic navigation systems market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Technology: Electromagnetic Localizers; Optical Tracking; Fluoroscopy; MRI (Magnetic Resonance Imaging); Other Technologies
• 2) By Application: Knee surgery; Spine surgery; Hip surgery; Other Applications
• 3) By End Users: Hospitals; Ambulatory Surgical Centers; Other End Users
• Companies Mentioned: Medtronic Plc; Johnson & Johnson MedTech; Siemens Healthineers; Stryker Corporation; GE Healthcare Technologies Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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