Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.1 Billion | USD 7.3 Billion | 14.7% | 2020 |
The global Orthopedic Navigation Systems market size accrued earnings worth approximately 2.1 (USD Billion) in 2020 and is predicted to gain revenue of about 7.3 (USD Billion) by 2028, is set to record a CAGR of nearly 14.7% over the period from 2021 to 2028. The report offers an assessment and analysis of the Orthopedic Navigation Systems market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Orthopedic navigation systems are developed for examining pre, intra, and post-operative data in many modalities. Furthermore, these systems provide an augmented reality 3D visualizing environment in the healthcare industry, thereby enhancing medical outcomes of surgical orthopedic methods. Rise in orthopedic conditions and a surge in the number of patients affected due to rheumatoid arthritis, osteoporosis, ligamentous knee injuries, rheumatoid arthritis, and osteoarthritis will translate into humungous demand for orthopedic navigation systems in coming years.
Earlier, orthopedic navigation systems were utilized for enhancing the efficacy of pedicle screw insertion. However, these tools have gained wide recognition in the orthopedic domain of the healthcare sector and are prominently used in the treatment of spine injuries, reconstructive hip & knee injuries, trauma, sports injuries, and tumor surgeries. Orthopedic navigation systems provide real-time feedback to physicians and thus help in improving postoperative outcomes.
A prominent surge in acceptance of minimally invasive surgeries along with rise in orthopedic & neuro disorders will proliferate growth of orthopedic navigation systems industry in years ahead. With a steep increase in the lifespan of individuals, there is a prominent surge in aging populace and this has resulted in huge demand for orthopedic navigation systems as old persons are more likely to suffer from bone & ligament disorders. This, in turn, will drive industry trends. In addition to this, surge in cases of joint reconstruction and awareness about the benefits offered by orthopedic navigation systems to patients will impel scope of growth for orthopedic navigation systems market in near future.
Furthermore, rise in healthcare spending and growing disorders of musculoskeletal systems has generated huge demand for orthopedic navigation systems. Nevertheless, huge costs of orthopedic navigation systems as well as large number of product recalls may hinder growth of orthopedic navigation systems business in foreseeable future.
North America Market To Register Massive Growth By 2028
The regional market growth during forecast period is credited to easy availability of strong infrastructure facility along with escalating awareness about benefits of orthopedic navigation systems in patients. Apart from this, supportive government schemes favoring use of orthopedic navigation systems will culminate into huge market growth in region during forecast period. Additionally, presence of established manufacturers & vendors and favorable health insurance & compensation policies will proliferate regional market size.
Report Attributes | Report Details |
---|---|
Report Name | Orthopedic Navigation Systems Market Report |
Market Size in 2020 | USD 2.1 Billion |
Market Forecast in 2028 | USD 7.3 Billion |
Growth Rate | CAGR of 14.7% |
Number of Pages | 140 |
Key Companies Covered | Zimmer Biomet, Johnson & Johnson Services, Inc., Medtronic Corporation, Stryker Corporation, B. Braun Melsungen AG, Kinamed, Inc., OrthAlign, Globus Medical, Amplitude Surgical. |
Segments Covered | By Technology, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2020 |
Historical Year | 2017 to 2020 |
Forecast Year | 2021 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Key participants profiled in report and impacting business space are
By Technology
By Application
FrequentlyAsked Questions
A prominent surge in acceptance of minimally invasive surgeries along with rise in orthopedic & neuro disorders will proliferate growth of orthopedic navigation systems industry in years ahead. With a steep increase in lifespan of individuals, there is a prominent surge in aging populace and this has resulted in huge demand for orthopedic navigations systems as old persons are more likely to suffer from bone & ligament disorders. This, in turn, will drive industry trends. In addition to this, surge in cases of joint reconstruction and awareness about the benefits offered by orthopedic navigation systems to patients will impel scope of growth for orthopedic navigation systems market in near future.
Furthermore, rise in healthcare spending and growing disorders of musculoskeletal systems has generated huge demand for orthopedic navigation systems.
According to Zion market research report, the global Orthopedic Navigation Systems market accrued earnings worth approximately 2.1(USD Billion) in 2020 and is predicted to gain revenue of about 7.3 (USD Billion) by 2028, is set to record a CAGR of nearly 14.7% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is due to easy availability of strong infrastructure facility along with escalating awareness about benefits of orthopedic navigation systems in patients. Apart from this, supportive government schemes favoring use of orthopedic navigation systems will culminate into huge market growth in region during forecast period. Additionally, presence of established manufacturers & vendors and favorable health insurance & compensation policies will proliferate regional market size.
The key market participants include Zimmer Biomet, Johnson & Johnson Services, Inc., Medtronic Corporation, Stryker Corporation, B. Braun Melsungen AG, Kinamed, Inc., OrthAlign, Globus Medical, and Amplitude Surgical.
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