Orthopedic Navigation Systems Market: Current Analysis and Forecast (2021-2027)
$3999 – $6999
Emphasis on Therapeutic Class (Second Generation, Third Generation, Others); Treatment (Oral, Injectables); Region/Country
The orthopedic navigation systems market is expected to register a CAGR of approx. 9% throughout 2021-2027. The orthopedic navigation systems market is expected to register a CAGR of approx. 9% throughout 2021-2027. The orthopedic navigation system was originally used in orthopedic spinal surgery over 10 years ago to improve the efficiency of pedicle screw insertion. Since then, it has been widely accepted by orthopedic surgeons and has become an invaluable tool for several orthopedic surgeries, including hip and knee reconstruction, sports injuries, trauma, and spine and tumor surgery. In addition, traditional techniques may lack accuracy, precision, and reproducibility. Therefore, there is an increasing demand for the development of new orthopedic navigation systems. The global orthopedic navigation system market is anticipated to witness an uptick with the development of social society leading to changes in diet and other lifestyles which harm the human bones. This along with the rapidly growing aging population across the globe is causing an increase in the number of patients having obesity. As per the Trust for America’s Health, in 2020, the U.S. adult obesity rate stands at 42.4%, the first time the national rate has passed the 40% mark, and further evidence of the country’s obesity crisis. Owing to these glaring statistics the demand for orthopedic navigation systems is anticipated to grow in the forthcoming years because obesity causes an alteration of bone-regulating hormones, increased oxidative stress and inflammation, and altered bone cell metabolism which damages the bone internally. Furthermore, the increase in the number of orthopedic surgeries, as well as the rising incidences of orthopedic problems such as arthritis and osteoporosis, are expected to drive the market for orthopedic navigation systems market in the coming years.
The growing adoption of orthopedic navigation systems can be attributed to the rising prevalence of various cases of bone-related diseases such as osteoporosis, osteoarthritis, and rheumatoid arthritis coupled with a rapidly growing geriatric population. For instance, According to recent statistics from the International Osteoporosis Foundation, worldwide, 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime. 54 million Americans, half of all adults aged 50 and older, are at risk of breaking a bone and should be concerned about bone health.
- Braun Melsungen AG, Stryker, Medtronic, Smith+Nephew, Johnson & Johnson Services, Inc. (DePuy Synthes), Zimmer Biomet, Amplitude Surgical, Kinamed, Inc., Globus Medical, OrthAlign are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Technology, the optical category accounted for the majority share in the market in 2020”
Based on technology, the market is classified into electromagnetic, optical, MRI, and others. Amongst technology, the optical category accounted for a significant share of the market. This system has advanced the technical process of surgery and paved the way for complex interventions as it is built on the principle of stereo vision with high precision. Therefore, these systems are applied to medical procedures that require very high accuracy and large access routes. Thereby, boosting the growth of this segment.
“Among applications, the portable is expected to witness highest CAGR during the forecast period”
Based on application, the market is categorized into knee surgeries, hip surgeries, spine surgeries, and others. Among these, knee surgeries are expected to witness the highest CAGR during the forecast period. Increased awareness of the benefits associated with an increased number of knee replacements is a factor contributing to its growth. In addition, it has a wide range of applications in multiple surgical conditions, including total knee arthroplasty, single-compartment (partial) knee arthroplasty, knee arthroplasty (patellar femoral arthroplasty), and modified knee arthroplasty which in turn is boosting the growth of the segment of the market.
“Among End-Users, the Hospitals is expected to witness highest CAGR during the forecast period”
Based on end-users, the market is categorized into hospitals, ambulatory surgical centers, and others. Among these, the hospitals are expected to witness the highest CAGR during the forecast period. The hospital offers a wide range of treatment options in terms of pain management and orthopedic surgery. Furthermore, the presence of modern medical equipment and an increasing number of patients at these facilities are some factors driving the growth of this segment.
“North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the orthopedic navigation systems market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the orthopedic navigation systems market industry in 2020 owing to strong healthcare infrastructure and growing adoption of orthopedic navigation systems in the region.
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- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Global Orthopedic Navigation Systems Study|
|2.1||Research Process of the Orthopedic Navigation Systems Market|
|2.2||Research Methodology of the Orthopedic Navigation Systems Market|
|2.5||Main Objective of the Orthopedic Navigation Systems Market Study|
|6||GLOBAL ORTHOPEDIC NAVIGATION SYSTEMS MARKET REVENUE|
|9.2.||Ambulatory Surgical Centers|
|10.1||NORTH AMERICA ORTHOPEDIC NAVIGATION SYSTEMS MARKET|
|10.1.3||Rest of North America|
|10.2||EUROPE ORTHOPEDIC NAVIGATION SYSTEMS MARKET|
|10.2.6||Rest of Europe|
|10.3||ASIA PACIFIC ORTHOPEDIC NAVIGATION SYSTEMS MARKET|
|10.3.5||Rest of Asia Pacific|
|10.4||REST OF THE WORLD ORTHOPEDIC NAVIGATION SYSTEMS MARKET|
|12||ORTHOPEDIC NAVIGATION SYSTEMS MARKET OPPORTUNITIES|
|13||ORTHOPEDIC NAVIGATION SYSTEMS MARKET TRENDS & INSIGHTS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1||Demand Side Analysis|
|15.2||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1||Porter’s Five forces analysis|
|18.1.||B. Braun Melsungen AG|
|18.5.||Johnson & Johnson Services, Inc. (DePuy Synthes)|
Research Methodology for the Global Orthopedic Navigation Systems Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global orthopedic navigation systems market were the three major steps undertaken to create and analyze the adoption of orthopedic navigation systems in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global orthopedic navigation systems market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the orthopedic navigation systems market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the orthopedic navigation systems market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as technology, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the orthopedic navigation systems market. Further, we conducted factor analysis using dependent and independent variables such as various technology, application, and end-users of orthopedic navigation systems. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the orthopedic navigation systems market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global orthopedic navigation systems market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the orthopedic navigation systems market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global orthopedic navigation systems market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global orthopedic navigation systems market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, application, and end-users in the global orthopedic navigation systems market.
The main objective of the Global Orthopedic navigation systems Market Study
The current & future market trends of the global orthopedic navigation systems market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the orthopedic navigation systems market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of technology, application, and end-users
- Define and analysis of the regulatory framework for the orthopedic navigation systems market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the orthopedic navigation systems market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the orthopedic navigation systems market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry