The global orthopedic navigation systems market was valued at over USD 100 million in 2014 and is expected to grow at rapid pace during the forecast period. Rising incidences of osteoarthritis and demand for minimally invasive surgeries for joint replacement surgery are expected to boost demand for surgical navigation systems over the forecast period. In addition, rising expenditure on healthcare, awareness of computer-assisted surgical navigation system, and adoption of these techniques are the factors contributing to the growth of orthopedic navigation systems industry in the coming years.
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According to report published by the World Health Organization (WHO), osteoarthritis is one of the most disabling diseases in developed countries. 10% men and 18% women aged above 60 years have osteoarthritis and this number is expected to grow in future due to increasing rate of risk factors such as obesity, physical inactivity, excess alcohol, smoking, and injuries. This is further expected to provide with future growth opportunities for orthopedic navigation systems industry.
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Segmentation of orthopedic navigation systems market is done on the basis of applications into spine, hip, and knee navigation systems. Knee navigation system dominated the overall segment in terms of revenue due to increasing usage of computer-assisted surgery for knee replacement procedures and wide applications of surgical navigation system in knee replacement. The surgical knee navigation system used in various procedures such as total knee replacement, knee cap replacement (patellofemoral arthroplasty), revision knee replacement, and unicompartmental (partial) knee replacement for imaging & accurate precision in knee surgery. The study performed by NCBI states that the estimated number of knee surgeries globally is over 1.5 million and will continue to grow in the future, providing substantial growth opportunities for segment growth. Additionally, favorable reimbursement policies and associated advantages related to knee navigation software are expected to boost market growth over the forecast period. Similarly, technological advancement in navigation systems such as information navigation system is expected to boost market growth.
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