- The orthopedic navigation system market contributed over USD 100 million in 2014. It is likely to grow rapidly over the forecast period. Escalating demand for minimally-invasive operations and boosting osteoarthritis cases causing joint replacement operations will expand the market in the upcoming years.
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Additionally, awareness regarding computer-assisted surgical navigation systems, rising medical expenses, and adoption of new technologies will aid the market. According to the World Health Organization (WHO), osteoarthritis is a disabling disease. Around 18% women older than 60 and 10% men suffer from this disease.
These figures are estimated to grow on account of smoking, obesity, alcoholism, injuries, and sedentary lifestyles. On the basis of applications, the orthopedic navigation system market is segmented into knee, spine, and hip. Accelerating demand across these segments is also anticipated to steer market incomes. In terms of revenues, knee navigation systems led the market.
This is due to wide applications of surgical navigation systems and rising usage of computer-assisted knee-replacement operations. Knee navigation systems are used to carry out knee-replacements, accurate knee operations, knee-cap replacements, and unicompartmental knee surgeries.
Advantages associated with knee navigation systems and favorable reimbursement policies will boost the orthopedic navigation system market in the years to come. Likewise, technological advancements would also drive the market. The segment of hip navigation systems will notice moderate expansion in the future.
Augmented hip fractures, rheumatoid arthritis, osteoarthritis, and hip replacement procedures will steer the global market. North America, rest of the world, Asia Pacific, and Europe are the four orthopedic navigation system market regions. Europe and North America were the most significant in 2014.
This was credited to mounting population of the elderly and well-recognized medical amenities in these regions. High consciousness among patients, high-tech medical infrastructure for joint replacement operations, and boosting demand for minimally-invasive operations also drive these regions.
Information Source: Grand View Research
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