ORTHOPEDIC SURGICAL NAVIGATION SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

The emerging prevalence of diseases such as osteoarthritis is expected to boost the global orthopedic surgical navigation systems market growth. For instance, according to Centers for Disease Control and Prevention (CDC) 2020 update, osteoarthritis (OA) is a serious chronic disease that affects one in every seven adults that is approximately 32.5 million people in the U.S. OA has been linked to ageing and was found more common in people who had other chronic conditions such as heart disease, diabetes, and obesity. Despite this, 18.7 million adults with OA were of working age (18–64 years) in the U.S.

Rising geriatric population is also expected to propel the global orthopedic surgical navigation systems market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention, in 2016, 49 million adults in the U.S. were 65 years or older, accounting for 15% of the population. This figure is expected to rise to 71 million by 2030 and 98 million by 2060, when older people will account for nearly a quarter of the population. Higher risk of chronic disease such as osteoporosis is associated with age factor. For instance, according to the same source, in 2017-18, women had a higher prevalence of osteoporosis than men, and adults aged 65 and older had a higher prevalence than adults aged 50–64 in the U.S.

Increasing use of new surgical navigation systems in orthopedic surgeries is expected to drive the global orthopedic surgical navigation systems market growth during the forecast period. For instance, on November 6, 2020, OrthAlign, Inc., a U.S.-based medical device and technology company that provides advanced precision technologies to orthopedic surgeons, announced the first case that utilized LANTERN Surgical Assistant. Dr. Michael Ast, a fellowship-trained orthopedic surgeon at the Hospital for Special Surgery in New York, performed the procedures. LANTERN Surgical Assistant is a small inertial navigation system that builds on the clinical success of OrthAlign's flagship technology and provides a foundation for the expansion of features and applications. These factors are expected to support global orthopedic surgical navigation systems market growth over the forecast period.