Optical Technology Enabled Orthopedic Navigation Systems Market Revenue to Swell at a CAGR of around 17% from 2023 to 2033, Reveals Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
5 min read
Future Market Insights Global and Consulting Pvt. Ltd.
USA accounts for a significant share of the Orthopedic Navigation Systems Market and is expected to account for a valuation of US$ 5.2 Billion by 2033. The United Kingdom Orthopedic Navigation Systems Market is expected to reach a valuation of US$ 1.1 Billion by 2033. Growing with a CAGR of 15.2% in the forecast period
DUBAI, United Arab Emirates, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The Orthopedic Navigation Systems Market revenues were estimated at US$ 2.4 Billion in 2022 and is anticipated to grow at a CAGR of 16.9% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 13.2 Billion.
Increasing financing initiatives from the government for surgical navigation system research and development is also contributing to market growth. The high cost of surgical navigation systems and product recalls, on the other hand, are anticipated to have a negative impact on the orthopedic navigation systems market's growth.
Businesses are concentrating on raising knowledge about the use and benefits of orthopedic navigation systems among healthcare professionals and patients. In developed countries, manufacturers of surgical navigation systems have begun to reach out to local communities by offering CME classes. As a result, physicians and experts are becoming more aware of the availability and use of orthopedic navigation systems. Furthermore, commercially marketed orthopedic navigation systems come with a six to seven-year warranty, resulting in a seven-year product sales cycle. Due to the increased demand for technology aid in orthopedic treatments, the market for orthopedic navigation systems is likely to expand throughout the forecast period.
Competitive Landscape
The key players operating in Orthopedic Navigation Systems Market include Stryker, Medtronic, Johnson & Johnson Services, B. Braun Melsungen AG, Smith + Nephew, OrthAlign, Globus Medical, and Zimmer Biomet.
In February 2021, Brainlab, received FDA clearance for both Cirq and Loop-X Mobile Imaging Robot. Following the CE mark approval, the FDA’s clearance paved the way for Brainlab to enter the U.S. market with the Cirq robotic alignment module for spine procedures, and Loop-X, a fully robotic intraoperative imaging device on the market.
In January 2021, DePuySynthes received 510(k) FDA clearance for VELYS robotic-assisted solution. It is designed for use with the ATTUNE total knee system.
In November 2020, Stryker, completed the acquisition of Wright Medical, in an attempt to enhance its market position globally in trauma and extremities. It will provide the company with significant opportunities to improve outcomes, advance innovation, and increase patient reach.
In July 2020, Smith + Nephew, publicized the introduction of the RI.HIP Navigation for Total Hip Arthroplasty (THA). This device received 510(k) clearance from the U.S. FDA and CE Mark certification for THA.
Future Market Insights, in its new offering, presents an unbiased analysis of the Orthopedic Navigation Systems Market by Application (Knee, Hip, Spine), by Technology (Electromagnetic, Optical, Other Technologies), by End Use (Hospitals, Ambulatory Surgery Centers), and by Region, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
Table of Content
1. Executive Summary | Orthopedic Navigation Systems Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Market
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Have a Look at Related Reports of Healthcare domain
Removable Partial Dentures Market Size: In 2022, the global removable partial dentures market is forecast to reach US$ 1291.1 million. The market is slated to rise at 8.10% CAGR during the forecast period.
Respiratory Heaters Market Share: The global demand for respiratory heaters is presently valued at around US$ 1.3 Million and is projected to reach US$ 3.7 Million by 2032.
Medical Home Services Market Overview: Medical Home Services Market is predicted to grow with a CAGR of 8.4% through 2032 to value at US$ 611.7 Billion by 2032.
Throat Spray Market Demand: The global throat sprays market is expected to reach a valuation of US$ 473.8 million by the end of 2022. Sales are projected to increase at a CAGR 2.1% over the forecast period, reaching US$ 586.1 million by 2032.
Hemostasis Product Market Outlook: In 2022, the global hemostasis products market is likely to hold a value of US$ 1580 Million. With a CAGR of 5.3%, the market is projected at US$ 2638 Million during the forecast period from 2022 to 2032.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, US, and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
