PUBLISHER: The Insight Partners | PRODUCT CODE: 1389649
PUBLISHER: The Insight Partners | PRODUCT CODE: 1389649
The orthopedic navigation systems market size is expected to grow from US$ 2.532 billion in 2022 to US$ 7.477 billion by 2030; it is estimated to register a CAGR of 14.5% from 2022 to 2030.
The growing advantages of computer-assisted orthopedic surgeries and the increasing incidence of orthopedic conditions are among the key factors driving the market growth. However, the high costs associated with coagulation analyzers hamper the market growth.
Rising Interest in Minimally Invasive Surgery
In minimally invasive spine surgery(MISS), the use of computer-assisted navigation technology allows surgeons to better visualize bone and soft tissue anatomy through limited minimally invasive surgery (MIS) incisions. In addition, due to smaller incisions, postoperative wound healing takes longer in conventional surgeries than in MIS. Interest in MISS increases tremendously as its core principle is to minimize insertion-related injuries while achieving similar results to traditional open spine procedures. With technical and technological advances, MISS can expand its utility to simple spinal stenosis and complex spinal pathologies such as metastasis, trauma, or spinal deformity in adults.
In August 2023, Orthofix Medical Inc. announced the full commercial launch and successful completion of the first cases in the US with the 7D FLASH Navigation System Percutaneous Module 2.0. The system enables Orthofix to continue to operate MIS for the spine. Speed, accuracy, and efficiency of image processing technology are expected to provide significant economic added value and reduced radiation exposure for staff and patients in open procedures. This launch expands the clinical functionality and utility of the navigation system by providing surgeons with a fully integrated procedural solution for MIS, including implant planning and an expanded suite of navigated tools. The growing preference of patients and healthcare professionals for minimally invasive procedures that offer faster recovery times and reduced postoperative pain would support the adoption of orthopedic navigation systems. Thus, the rising adoption of orthopedic navigation systems in practice benefits patients and hospitals, which is expected to boost the orthopedic navigation system market growth in the coming years.
The global orthopedic navigation system market is segmented by region into North America, Europe, Asia-Pacific, Middle East & Africa, and South & Central America. North America held the largest regional market share and is expected to grow with a steady CAGR during the period 2022-2030. The market's growth is driven by factors such as an aging population, the increasing incidence of orthopedic conditions, the demand for minimally invasive surgeries, and the adoption of advanced technology by healthcare providers. Also, the presence of several major companies active in this market, including Medtronic, Stryker Corporation, Zimmer Biomet, and DePuy Synthes (a subsidiary of Johnson & Johnson), which offer a range of orthopedic navigation systems and tools, is likely to drive the market growth. In North America, orthopedic navigation systems include a variety of technologies, such as image-based navigation, computer-assisted surgery (CAS), and robotic-assisted surgery. These technologies aim to enhance the precision and accuracy of orthopedic procedures. These systems are used in a wide range of orthopedic procedures, including joint replacement surgeries (knee, hip, shoulder), spine surgery, and trauma surgery. The orthopedic navigation systems in North America are subject to regulatory oversight by agencies like the FDA in the United States, ensuring the safety and efficacy of these systems. Some notable trends included the integration of robotics with navigation systems, patient-specific implants, and instrumentation and the development of more user-friendly and efficient systems for surgeons.
The Asia-Pacific region is expected to witness the highest growth rate in the orthopedic navigation systems market. Increasing aging populations and increasing healthcare spending are key factors contributing to the growth of the market. The Asia Pacific region has a significant and rapidly aging population. With aging comes an increased incidence of orthopedic conditions, such as osteoarthritis, which often require surgical interventions. This demographic shift has created a substantial demand for orthopedic procedures, driving the need for navigation systems.
Furthermore, many countries in the Asia-Pacific region have been increasing their healthcare spending, which includes investments in advanced medical technologies. This has allowed for the adoption of orthopedic navigation systems in hospitals and healthcare facilities. Moreover, increasing awareness of advanced medical treatments and orthopedic procedures increases the number of patients seeking healthcare services. Additionally, improving healthcare infrastructure and accessibility to healthcare facilities have made it easier for individuals to access orthopedic care.
Centers for Disease Control and Prevention (CDC), World Health Organization, National Library of Medicine, Canadian Institute of Health Information (CIHI), United Nations Economic Commission for Europe (UNECE), National Spinal Cord Injury Statistical Center (NSCSC), University of Washington are among the primary and secondary sources referred to while preparing the enteral nutrition market report.