Report : Europe Orthopedic Navigation Systems Market Forecast to 2030 - Regional Analysis - by Technology (Electromagnetic, Optical, and Others), Application (Knee, Hip, Spine, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)
At 14.3% CAGR, Europe Orthopedic Navigation Systems Market is Speculated to be Worth US$ 2,187.21 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Europe orthopedic navigation systems market was valued at US$ 749.99 million in 2022 and is expected to reach US$ 2,187.21 million by 2030, registering a CAGR of 14.3% from 2022 to 2030. Increasing incidence of orthopedic conditions and growing advantages of computer-assisted orthopedic surgeries are among the critical factors attributed to the Europe orthopedic navigation systems market expansion.
The increasing incidence of osteoarthritis, musculoskeletal disorders, fractures, and other orthopedic conditions due to an aging population and a sedentary lifestyle increases the need for precise and accurate surgical procedures. Adoption of cutting-edge technologies in surgical procedures improves outcomes of procedures and life quality of patients.
Spinal injuries are the leading cause of mortality and morbidity due to weakening of neurological injury or bony spine, spinal nerves, or spinal cord. Prompt medical and surgical treatment is crucial to reduce chronic functional impairment. In addition, increasing number of sports injury cases and growing number of traffic accidents and falls propel the need for orthopedic treatments. The rising incidence of orthopedic diseases, including osteoarthritis, degenerative joint diseases, and fractures, significantly bolsters the orthopedic navigation systems market.
On the contrary, regulatory control, complexity, and high cost associated with orthopedic navigation systems hampers the growth of Europe orthopedic navigation systems market.
Based on technology, the Europe orthopedic navigation systems market is segmented into electromagnetic, optical, and others. The electromagnetic segment held 47.5% share of the Europe orthopedic navigation systems market in 2022, amassing US$ 356.56 million. It is projected to garner US$ 1,103.15 million by 2030 to expand at 15.2% CAGR during 2022-2030.
Based on application, the Europe orthopedic navigation systems market is segmented into knee, hip, spine, and others. The knee segment held 66.1% share of the Europe orthopedic navigation systems market in 2022, amassing US$ 495.38 million. it is projected to garner US$ 1,455.53 million by 2030 to expand at 14.4% CAGR during 2022-2030.
Based on end user, the Europe orthopedic navigation systems market is segmented into membrane hospitals, ambulatory surgical centers, and others. The hospitals segment held 70.7% share of Europe orthopedic navigation systems market in 2022, amassing US$ 530.25 million. It is projected to garner US$ 1,584.03 million by 2030 to expand at 14.7% CAGR during 2022-2030.
Based on country, the Europe orthopedic navigation systems market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 26.5% share of Europe orthopedic navigation systems market in 2022, amassing US$ 198.76 million. It is projected to garner US$ 587.51 million by 2030 to expand a 14.5% CAGR during 2022-2030.
Key players operating in the Europe are Smith & Nephew Plc, Siemens Healthineers AG, B Braun SE, Stryker Corp, Medtronic Plc, Zimmer Biomet Holdings Inc, Brainlab AG, Metronor AS, and Naviswiss AG, among others.
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