Market Trends of Orthopedic Navigation Systems Industry
Knee Surgery Segmentation is Expected to Hold a Significant Market Share During the Forecast Period
- Knee surgeries are required to be performed due to various reasons for patients suffering from osteoarthritis, post-traumatic arthritis, osteoporosis, or rheumatoid arthritis, which are knee-damaging diseases. There are multiple types of knee surgeries such as arthroscopic surgery and knee replacement surgery. An increase in the geriatric population and growing demand for minimally invasive surgical procedures are expected to enhance the segment's growth during the forecast period.
- Due to their advantages, the increasing demands for minimally invasive surgical procedures for knee replacement are anticipated to contribute to the market growth. For instance, according to an article published by Orthopedic Surgery in February 2022, minimally invasive surgical techniques spread rapidly in the orthopedic field. It has been widely applied to the total knee arthroplasty surgery surgical approach. This minimally invasive approach to total knee surgery is a technical improvement and supplement to traditional knee replacement, and it has several advantages, such as small skin incision, minor trauma, and an aesthetically appealing appearance. Thus, the increasing benefits of minimally invasive knee surgery and the growing usage of these techniques are expected to boost the segment's growth.
- The growing geriatric population raises the need for minimally invasive surgeries for knees and thus boosts the market growth. For instance, according to the data published by the World Health Organization in October 2022, by 2030, 1 in 6 people worldwide will be aged 60 years or over, and the share of the population aged 60 years will reach 1.4 billion in 2030. By 2050, the number of people aged 60 will double to 2.1 billion. As knee surgeries are mainly associated with the elderly, the rising geriatric population is also expected to boost the segment's growth.
- The rising developments by key market players are also driving the segment. For instance, in March 2024, the Columbia University Irving Medical Center in New York used the STELLAR Knee mixed-reality surgical guidance system to perform total knee arthroplasty. STELLAR Knee is a mixed-reality surgical navigation solution that displays measured and computed data in 3D form, thus providing robot-like accuracy and real-time guidance to surgeons for total knee arthroplasty procedures. However, in October 2023, DePuy Synthes (an Orthopedic company of Johnson & Johnson) launched its VELYS Robotic-Assisted Solution for knee replacement surgery in European markets such as Germany, Belgium, and Switzerland. Thus, such advanced product launches for performing knee surgeries are anticipated to contribute to the segment growth.
- Thus, the rising geriatric population, the increasing adoption of minimally invasive orthopedic surgeries, and the developments by major market players are expected to enhance the segment's growth during the forecast period.
Understand The Key Trends Shaping This Market
Download PDF
North America is Expected to Hold a Significant Market Share During the Forecast Period
- During the forecast period, North America is expected to hold a significant share of the orthopedic navigation systems market due to the growing geriatric population, increasing prevalence of orthopedic disorders, key developments by market players, and geographical expansions by local players.
- The high prevalence of orthopedic conditions is anticipated to drive the demand for orthopedic navigation systems to promote surgeries, thus contributing to the market growth in the region. For instance, according to an article published by OTA International in June 2022, around 53 million Americans either had a diagnosis of osteoporosis or are at risk for fracture due to decreased bone mass. Thus, the high prevalence of osteoporosis is expected to boost the usage of orthopedic navigation systems.
- The rising geriatric population is also a significant factor in the market's growth. For instance, according to the data published by Statistics Canada in July 2023, around 7.6 million people were 65 or older in Canada in 2023. Thus, the high burden of the senior population in the region is expected to fuel the use of orthopedic navigation systems.
- Key market players' developments are also expected to boost the market's growth. For instance, in June 2022, VisAR, an augmented reality surgical navigation system from healthcare technology leader Novarad, received FDA approval for precision-guided intraoperative spine surgery.
- Thus, the rising geriatric population, the increasing prevalence of orthopedic disorders, and the developments by major market players are expected to enhance the segment's growth during the forecast period.
Get Analysis on Important Geographic Markets
Download PDF
