The Orthopedic Navigation Systems Market is poised for significant expansion driven by technological advancements and increasing demand for precise surgical procedures, promising improved patient outcomes and surgical efficiency.
The orthopaedic navigation systems market size was expected to generate US$ 2.4 billion in sales globally in 2022, according to a Future Market Insights analysis report. With a CAGR of 16.9% from 2023 to 2033, the market is projected to reach a valuation of US$ 13.2 billion by 2033. With a CAGR of 19.1% from 2023 to 2033, orthopaedic navigation systems for the knee are anticipated to be the most lucrative market.
Increasing financing initiatives from the government for surgical navigation system research and development is also contributing to market growth. The high cost of surgical navigation systems and product recalls, on the other hand, are anticipated to have a negative impact on the orthopedic navigation systems market’s growth.
Businesses are concentrating on raising knowledge about the use and benefits of orthopedic navigation systems among healthcare professionals and patients. In developed countries, manufacturers of surgical navigation systems have begun to reach out to local communities by offering CME classes. As a result, physicians and experts are becoming more aware of the availability and use of orthopedic navigation systems.
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Furthermore, commercially marketed orthopedic navigation systems come with a six to seven-year warranty, resulting in a seven-year product sales cycle. Due to the increased demand for technology aid in orthopedic treatments, the market for orthopedic navigation systems is likely to expand throughout the forecast period.
Competitive Landscape
The key players operating in Orthopedic Navigation Systems Market include Stryker, Medtronic, Johnson & Johnson Services, B. Braun Melsungen AG, Smith + Nephew, OrthAlign, Globus Medical, and Zimmer Biomet.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Orthopedic Navigation Systems Market by Application ( Knee, Hip, Spine), by Technology (Electromagnetic, Optical, Other Technologies), by End Use (Hospitals, Ambulatory Surgery Centers), and by Region, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
Key Segments:
By Application:
By Technology:
By End Use:
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Feb 12, 2024