The U.S. orthopedic spine navigation systems market size is expected to reach USD 459.8 million by 2030, registering a CAGR of 12.4% over the forecast period, based on a new report by the publisher. The market is expected to continue growing in the coming years, driven by technological advancements, increasing demand for minimally invasive spinal procedures, increasing geriatric population, and the increasing prevalence of spinal disorders. Spine navigation systems play an important role in Minimally Invasive Surgery (MIS) procedures by allowing surgeons to precisely guide instruments and implants in real-time, reducing the need for extensive tissue dissection and minimizing the risk of complications. Furthermore, the regional market is highly competitive with the presence of major players, such as Johnson & Johnson (DePuy Synthes), Stryker, and Zimmer Biomet.
In November 2020, Stryker completed the acquisition of Wright Medical Group N.V., which would expand its product offerings. The spine navigation market was negatively impacted by the COVID-19 pandemic, particularly in the first half of 2020 when many elective surgeries were postponed or canceled due to healthcare facility closures, patient fears, and supply chain disruptions. According to a new study published in the Annals of Surgery in 2020, the cost of halting major elective surgery due to COVID-19 is projected to be USD 22.3 billion for hospitals in the U.S., thereby hampering the market growth. However, the market has started to recover since then, as healthcare systems have adapted to the new normal, and elective procedures have resumed.
In November 2020, Stryker completed the acquisition of Wright Medical Group N.V., which would expand its product offerings. The spine navigation market was negatively impacted by the COVID-19 pandemic, particularly in the first half of 2020 when many elective surgeries were postponed or canceled due to healthcare facility closures, patient fears, and supply chain disruptions. According to a new study published in the Annals of Surgery in 2020, the cost of halting major elective surgery due to COVID-19 is projected to be USD 22.3 billion for hospitals in the U.S., thereby hampering the market growth. However, the market has started to recover since then, as healthcare systems have adapted to the new normal, and elective procedures have resumed.
U.S. Orthopedic Spine Navigation Systems Market Report Highlights
- The optical technology segment held the largest revenue share of 40.1% in 2022. This is owing to the increased volume of MIS procedures and high adoption of digital surgery solutions by end-users
- The other segment, which comprises hybrid, CT-based, and fluoroscopy-based navigation systems, is expected to witness the fastest CAGR of 12.1% during the forecast period
- The hospitals end-use segment accounted for the largest share of 73.9% in 2022. This can be attributed to a rise in preference for MIS procedures and the fact that many orthopedic surgeries are performed in hospital settings
- On the other hand, the Ambulatory Surgical Centers (ASCs) segment is projected to register the fastest growth rate of 12.5% during the forecast period
Table of Contents
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 U.S. Orthopedic Spine Navigation Systems Market Variables, Trends & Scope
Chapter 4 U.S Orthopedic Spine Navigation Systems Market: Segment Analysis, By Technology, 2017 - 2030 (USD Million)
Chapter 6 U.S Orthopedic Spine Navigation Systems Market: Segment Analysis, By End-Use, 2017 - 2030 (USD Million)
Chapter 7 U.S Orthopedic Spine Navigation Systems Market - Competitive Analysis
List of Tables
List of Figures
Companies Mentioned
- B. Braun Melsungen AG
- Stryker
- Medtronic
- Smith Nephew
- Johnson & Johnson Services, Inc. (DePuy Synthes)
- Zimmer Biomet
- Kinamed, Inc.
- Globus Medical
- OrthAlign
- Novarad Corporation
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 185.8 Million |
| Forecasted Market Value ( USD | $ 459.8 Million |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | United States |
| No. of Companies Mentioned | 10 |
