According to a new report, published by KBV research, The Global Orthopedic Navigation Systems Market size is expected to reach $5.5 billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period.
The Hospitals segment is growing at a CAGR of 12 % during the forecast period. Orthopedic navigation systems offer precision and real-time guidance during surgeries, making them an attractive addition to hospitals seeking to provide cutting-edge care. The rising prevalence of orthopedic conditions and the growing aging population have led to a surge in the demand for orthopedic surgeries. Hospitals are leveraging navigation systems to meet the demands of joint replacement surgeries, spinal surgeries, trauma procedures, and sports medicine interventions. As a result, the segment will proliferate in the future.
The Knee segment is generating the highest revenue in the Global Orthopedic Navigation Systems Market by Application in 2022; thereby, achieving a market value of $3.2 billion by 2030. Knee-related conditions, including osteoarthritis, ligament injuries, and meniscal tears, have become increasingly common due to factors such as aging populations, sedentary lifestyles, and sports-related injuries. This surge in knee ailments has led to a higher demand for precision in knee surgeries. Knee replacement surgeries, including total knee arthroplasty (TKA) and partial knee arthroplasty (PKA), have risen globally. These factors will boost the demand in the segment.
The Optical segment is registering a CAGR of 11.7 % during the forecast period. Optical navigation systems rely on high-resolution cameras and infrared sensors to track surgical instruments in real time. The systems precisely monitor the positions of instruments and anatomical structures, enabling accurate guidance for bone cuts, implant placements, and other surgical maneuvers. Additionally, optical navigation systems minimize the need for ionizing radiation during surgery. The reduced exposure to radiation is not only beneficial for patients and surgical teams in terms of safety but also aligns with the increasing emphasis on minimizing radiation-related health risks.
The North America region dominated the Global Orthopedic Navigation Systems Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.3 billion by 2030. The Europe region is anticipated to grow at a CAGR of 12% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 13.1% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/orthopedic-navigation-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, Smith & Nephew PLC, Johnson & Johnson, Zimmer Biomet Holdings, Inc., Vuzix Corporation, Kinamed Inc., Globus Medical, Inc. and Exactech, Inc.
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