At 14.7% CAGR, North America Orthopedic Navigation Systems Market is Projected to be Worth US$ 2,937.59 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the North America orthopedic navigation systems market was valued at US$ 981.11 million in 2022 and is expected to reach US$ 2,937.59 million by 2030, registering a CAGR of 14.7% from 2022 to 2030. Growing advantages of computer-assisted orthopedic surgeries and increasing incidence of orthopedic conditions are among the critical factors attributed to the North America orthopedic navigation systems market expansion.
According to an article titled "Computer-assisted preoperative planning of bone fracture fixation surgery" published in the National Library of Medicine in October 2022, bone fracture fixation surgery is known to be one of the most commonly performed surgical procedures in the orthopedic field. The source stated that computer-assisted surgical techniques have been developed in recent years. The techniques are helpful in the preoperative planning of bone fracture fixation operations.
Benefits of computer-assisted surgery (CAS) such as low blood loss, short hospital stays, and easy rehabilitation propel its demand. CAS is instrumental in precise alignment of the implant. It provides improved functionality, improves quality-adjusted lifespan, causes less pain and tissue damage, and can lead to fewer complications. Surgical navigation allows surgeons to develop detailed clinical plans for joint replacements and spinal procedures. The platforms provide computer-aided measurements from individual patients' preoperative computerized tomography (CT) scans to help surgeons provide personalized surgical care. Thus, advantages of computer-assisted orthopedic surgeries drive the orthopedic navigation systems market growth.
On the contrary, regulatory control, complexity, and high cost associated with orthopedic navigation systems hampers the growth of North America orthopedic navigation systems market.
Based on technology, the North America orthopedic navigation systems market is segmented into electromagnetic, optical, and others. The electromagnetic segment held 46.6% share of the North America orthopedic navigation systems market in 2022, amassing US$ 457.17 million. It is projected to garner US$ 1,459.24 million by 2030 to expand at 15.6% CAGR during 2022-2030.
Based on application, the North America orthopedic navigation systems market is segmented into knee, hip, spine, and others. The knee segment held 65.9% share of the North America orthopedic navigation systems market in 2022, amassing US$ 646.48 million. it is projected to garner US$ 1,950.37 million by 2030 to expand at 14.8% CAGR during 2022-2030.
Based on end user, the North America orthopedic navigation systems market is segmented into membrane hospitals, ambulatory surgical centers, and others. The hospitals segment held 71.1% share of North America orthopedic navigation systems market in 2022, amassing US$ 697.69 million. It is projected to garner US$ 2,139.26 million by 2030 to expand at 15.0% CAGR during 2022-2030.
Based on country, the North America orthopedic navigation systems market is categorized into the US, Canada, and Mexico. The US held 83.4% share of North America orthopedic navigation systems market in 2022, amassing US$ 818.24 million. It is projected to garner US$ 2,474.79 million by 2030 to expand a 14.8% CAGR during 2022-2030.
Key players operating in the North America orthopedic navigation systems market are DePuy Synthes Inc, Smith & Nephew Plc, Siemens Healthineers AG, B Braun SE, Stryker Corp, Medtronic Plc, Zimmer Biomet Holdings Inc, Metronor AS, and Naviswiss AG, among others.
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