The report forecasts the global orthopedic surgical navigation systems market to grow at a CAGR of 7.21% during the period 2017-2021.
The report, Global Orthopedic Surgical Navigation Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is increasing trend of medical tourism. Medical or wellness tourism is an approach by an individual moving from one location to another to avail better medical treatments at a lower cost. With the increasing healthcare cost in the developed countries like the US, Germany, France, and the UK, many individuals from these countries are traveling to the developing countries like Malaysia, China, Singapore, and India to avail medical care and surgical treatment at comparatively lower cost for expensive computer-assisted surgical navigation systems such as robotic surgery for various orthopedic-related medical conditions and treatments like hip and knee surgery.
According to the report, one driver in the market is increase in the number of minimally invasive surgeries. The increasing demand for minimally invasive surgeries and growing popularity among the people due to minimal incision, quick recovery, and satisfactory results are driving the demand for more precise surgeries with accurate outcomes. Individuals prefer shorter hospital stay, and minimally invasive surgeries are performed without major opening of the human body organs. Hence the wound heals faster and is less painful to the individual.
Further, the report states that one challenge in the market is underpenetration of market in emerging economies. CAOS has been introduced approximately two decades ago and is growing significantly in developed economies due to various factors such as increasing number of musculoskeletal diseases, advancements in the navigating tools, and increasing availability of many imaging modalities. However, the emerging markets still require some time to completely incorporate computer-assisted surgical navigation procedures in various public and private healthcare institutions due to a high level of training required to use the device, technical difficulty, and high cost of the device.