Report Overview

Global Orthopedic Navigation System Market - Industry Trends & Forecast Report 2028

Due to the increased incidence of osteoarthritis, the most prevalent kind of arthritis and the primary cause of chronic pain and physical disability in older people, the knee segment had the biggest revenue share in 2020. Due to the increasing prevalence of spinal abnormalities, the spine segment is predicted to experience the quickest CAGR between 2021 and 2028. A CDC analysis estimates that in 2019, spinal abnormalities affected about 34% of the adult population and about 62% of elderly population. Due to the technology's lower cost as compared to other navigation systems, the optical navigation system category had the greatest revenue share in 2020. In 2020, the hospital sector had the highest revenue share. Modern medical technology is used by hospitals to enhance the Point-of-Care (PoC), which fuels market expansion. Due to the availability of a higher-quality healthcare infrastructure and supportive government initiatives, North America will control the global market in 2020. Owing to shifting demands of healthcare facilities, surgeons, and patients, leading companies are concentrating more on product innovation tactics in this highly competitive industry. As big businesses concentrate on strategic acquisitions of smaller firms to obtain a competitive edge, the global orthopedic navigation system market is consolidating.

Global Orthopedic Navigation System Market - Overview

Over the coming years, the global orthopedic navigation system market is expected to rise because of an aging population and an increase in joint reconstruction cases, rising healthcare costs, and high patient and healthcare professional awareness levels. Orthopedic disorders include 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, necessitating subsequent surgical intervention. In the upcoming years, it is projected that this would increase demand for orthopedic navigation systems. The CDC estimates that 54.4 million Americans (or 1 in 4) have arthritis, and that number is anticipated to rise to 78 million by the year 2040. This suggests that navigation systems for orthopedic procedures may be required soon.

Growth Drivers

Increasing Acceptance among Surgeons and Doctors

When compared to other systems, the orthopedic navigation system is one of the most economical. As a result, the popularity of this instrument is growing quickly among doctors and surgeons. Hence, it is expected that the market for orthopedic navigation systems will expand. However, the excessive cost of the system forces many businesses choose leasing and rental options rather than purchasing such pricey systems. Over the projected period, this is anticipated to function as a significant barrier to the growth of the orthopedic navigation system market.

Aging World Population

Over the forecast period, an increase in the elderly population is also anticipated to fuel the growth of the orthopedic surgical navigation systems market. For instance, 49 million persons in the United States were 65 years of age or older in 2016, making up 15% of the population, according to the Centers for Disease Control and Prevention. By 2060, when older people will make up over a quarter of the population, this number is projected to increase to 98 million from the current number of 71 million. Age is linked to a higher risk of chronic diseases such as osteoporosis. For instance, in the US, in 2017–18, adults aged 65 and older had a higher prevalence of osteoporosis than those aged 50–64 years, while women had a higher prevalence than males.

Global Orthopedic Navigation System Market - Increasing demand

A key aspect to accelerate the demand for orthopedic navigation systems is the increase in the use of navigation software by doctors and surgeons because of the availability of affordable solutions. In addition, over the projection period of 2022 to 2028, it is anticipated that the widespread use of minimally invasive procedures and increased awareness will support market growth. The prevalence of the target ailments is also expected to increase, and computer-assisted surgery has several benefits. Additionally, the rise in joint reconstruction cases and the aging population are two other important aspects anticipated to propel market expansion for orthopedic navigation systems.

During the forecast period, it is expected that the rapid technological advancements in surgical navigation systems, increased funding for R&D activities, and rise in the incidence of osteoarthritis will offer significant growth opportunities for the orthopedic navigation systems market.

Restraints

Limited Span and Aging Life Cycle

Businesses are concentrating on raising knowledge of orthopedic navigation systems' use and advantages among patients and medical professionals. By providing classes for Continued Medical Education (CME), manufacturers of surgical navigation systems in developed nations have started to reach out to local communities. As a result, more doctors and specialists are aware of the existence and application of orthopedic navigation systems.

Additionally, the six to seven-year warranty on commercially available orthopedic navigation systems makes the entire product sales cycle seven years. As a result, the market for orthopedic navigation systems is expected to expand during the forecast period due to the increasing demand for technology aid in orthopedic therapies. Several additional technologies are expected to hit the market soon. Therefore, hospitals are more likely to search for a superior option.

Impact of COVID-19 on Global Orthopedic Navigation System Market

Numerous industries were disrupted by the 2019 coronavirus illness (COVID-19), which has 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 because 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. Furthermore, because of the government's use of lockdowns, hospitals may not have enough supplies to handle an unexpected patient inflow, forcing them to cancel elective treatments and rearrange ICU beds.

Segmental Coverage

Global Orthopedic Navigation System Market - By Technology

As electromagnetic (EM) systems are less expensive and provide a better line of sight than other navigation systems used in surgical procedures, they currently dominate the global market for surgical navigation systems. EM systems' benefits are anticipated to fuel their rise over the projection period.

Global Orthopedic Navigation System Market - By End User

As hospitals adopted robotic assisted surgery systems early and offer a wide range of treatment choices for orthopedic operations and pain management, the hospitals segment led the worldwide surgical navigation systems market in 2021 and is forecast to continue its leadership position in the global orthopedic navigation system market.

Regional Insights

By geography, global orthopedic navigation system market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. 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 share in the global orthopedic navigation system market by region. 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, APAC is expected to record growth at the fastest rate from 2022 to 2028. As elderly people are more likely to develop orthopedic illnesses, APAC offers a sizable target market, with Japan, China, and India being the main contributors to the growth of the regional market.

Competitive Landscape

The existence of a vast worldwide distribution network and a large product range are essential elements that can be linked to the dominance of a small number of players. However, due to mergers and acquisitions and new product development initiatives, other firms are also significantly increasing their market share. To increase their market penetration, the leading companies, such as B. Braun Melsungen AG, Stryker, Medtronic, Johnson & Johnson, Smith & Nephew Plc, Zimmer Biomet, Amplitude Surgical, Kinamed Inc., Globus Medical, and Orth Align, engage in a variety of activities, including the development of new products, distribution agreements, and growth plans.

Recent Developments

• In November 2020, Stryker completed the acquisition of Wright Medical, a US-based global medical device company with expertise in extremities and biologics, to strengthen its position in the global trauma and extremities market. The acquisition of Wright Medical is expected to enable Stryker to accelerate innovations and broaden patient access.

Scope of the Report

By Technology

• Electromagnetic
• Optical

By Application

• Knee
• Hip
• Spine

By End User

• Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Orthopedic Navigation Systems Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Orthopedic Navigation Systems Market Overview
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
         1. Electromagnetic
         2. Optical
      2. By Application
         1. Knee
         2. Hip
         3. Spine
      3. By End User
         1. Hospitals
         2. Ambulatory Surgical Centers
         3. Others
      4. By Region
         1. North America
         2. Europe
         3. Asia Pacific
         4. Latin America
         5. Middle East and Africa
6. North America Orthopedic Navigation Systems Market
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
      2. By Application
      3. By End User
      4. By Country
         1. United States
         2. Canada
7. Europe Orthopedic Navigation Systems Market
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
      2. By Application
      3. By End User
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. Asia Pacific Orthopedic Navigation Systems Market
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
      2. By Application
      3. By End User
      4. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Indonesia
         6. Australia
         7. Thailand
         8. Rest of Asia Pacific
9. Latin America Orthopedic Navigation Systems Market
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
      2. By Application
      3. By End User
      4. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. Middle East & Africa Orthopedic Navigation Systems Market
    1. Market Size & Forecast by Value, 2018–2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Technology
       2. By Application
       3. By End User
       4. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    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) **
    1. B. Braun Melsungen AG
    2. Stryker
    3. Medtronic
    4. Johnson & Johnson
    5. Smith & Nephew Plc
    6. Zimmer Biomet
    7. Amplitude Surgical
    8. Kinamed Inc
    9. Globus Medical
    10. Orth Align
    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