The orthopaedic navigation system is a type of system which is considered to be one of the most powerful tools in the orthopaedic surgery procedures. This visualization system supports the surgeon to place their tools without any excessive exposure to X-ray radiations. One objective of the system is that it presents 2D as well as 3D views of location of the surgery in the 3D CT scan. This also gives a real time performance which minimizes display delays in order to allow high accuracy navigation. The orthopaedic navigation system is mainly used in surgeries for joint, hip, spine, knee and shoulder replacement. As the cases of joint reconstruction are rising, awareness among patients as well as health care professionals is increasing, which is anticipated to result in the market growth in the upcoming future.
The number of patients who are suffering from a variety of orthopaedic conditions such as osteoporosis, osteoarthritis, rheumatoid arthritis, ulnar tunnel syndrome and ligamentous knee injuries is increasing rapidly and these disorders affect the musculoskeletal system of the body including muscles, nerves, ligaments, bones and others. This leads to decrease in the range of stiffness, swelling and others that subsequently requires surgical treatment and thus, the market for orthopedic navigation system is predicted to increase in upcoming years. However, the market is highly competitive as there are several regional as well as international players who are improving their technological experience by developing robot-assisted technologies in order to gain competitive advantage.
The global orthopaedic navigation system market is anticipated to record a significant CAGR throughout the forecast period, i.e., 2020-2028. The market is segmented by application into spine surgeries, knee surgeries, hip surgeries, joint replacement surgeries and shoulder replacement surgeries, out of which, knee surgeries segment is anticipated to hold the largest market share on the back of growth in the geriatric population as well as increasing prevalence of target diseases such as osteoarthritis. Additionally, rising number of total knee replacement procedures are estimated to ultimately lead to the growth of orthopaedic navigation system market in the upcoming years. CLICK TO DOWNLOAD SAMPLE REPORT
The use of navigation software by surgeons and physicians is rising rapidly as this is one of the cost-effective solutions when compared with others and thus, the popularity for orthopaedic navigation system is rising. So, this is anticipated to result in the growth of the market for orthopaedic navigation system in upcoming years.
As the geriatric population as well as cases for joint reconstruction is rising rapidly, the demand for the market will continue to increase. On the other hand, rising awareness among patients as well as healthcare professionals and high level of expenditure in healthcare is predicted to ultimately lead to boost the market for orthopaedic navigation system in the next few years.
Patient-specific cutting blocks which incorporate preoperative images in order to increase the accuracy of alignment at the time of total knee arthroplasty is gaining popularity as an alternative to the navigation system. This is one of the major factors that is estimated to limit the growth of orthopaedic navigation system market in the upcoming future.
Many companies are encouraged to develop more affordable options due to the relatively high average selling prices of navigation system and are shifting towards rental as well as leasing options rather than buying expensive systems. This might act as a restrain to the growth of orthopaedic navigation system market.
Our in-depth analysis of the orthopaedic navigation system market includes the following segments:
On the basis of regional analysis, the global orthopaedic navigation system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest market share on the back of increasing awareness levels among surgeons as well as physicians, improved infrastructure availability and favorable government initiatives with respect to orthopaedic navigation systems promotion. The market in Europe is anticipated to gain significant market share on the back of increasing geriatric population as well as rising expenditure on healthcare, adoption of latest techniques and others in the region. Hence, these factors are anticipated to grow the market for orthopaedic navigation system in the upcoming years.
The orthopaedic navigation system market is further classified on the basis of region as follows:
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