What Has Been the Growth of the Orthopedic Surgical Robots Market So Far?
The orthopedic surgical robots market has seen considerable growth due to a variety of factors.
• The orthopedic surgical robots market has experienced rapid growth in recent years. It is expected to expand from $1.13 billion in 2024 to $1.27 billion in 2025, at a compound annual growth rate (CAGR) of 12.1%.
This growth is attributed to the increasing prevalence of orthopedic conditions, rising demand for minimally invasive surgeries, an aging population, better surgical outcomes and precision, greater healthcare investments, the adoption of robotic systems in hospitals, and the expanding use of robotic systems in joint replacement surgeries.
What Is the Forecasted Market Size and Growth Rate for The Orthopedic Surgical Robots Market Size In The Coming Years?
The orthopedic surgical robots market is expected to maintain its strong growth trajectory in upcoming years.
• The orthopedic surgical robots market is forecast to grow rapidly, reaching $1.99 billion by 2029, at a CAGR of 11.9%.
Factors contributing to this growth include the expansion of healthcare infrastructure, increased investment in research and development, the growing prevalence of orthopedic conditions, favorable reimbursement policies, and an aging population. Trends include the incorporation of AI and machine learning for better outcomes, advancements to enhance precision and efficiency, the integration of augmented reality, the emergence of portable robotic systems, and hybrid systems combining robotic and navigation technologies.
What Factors Are Driving Growth In The Orthopedic Surgical Robots Market?
The growth of the orthopedic surgical robot market is anticipated to be driven by the rising prevalence of bone degenerative diseases. These afflictions gradually harm bone tissue, leading to weakened bones, discomfort, and a higher likelihood of fractures among other problems. This rise can be attributed to various factors such as an aging population, inactive lifestyle habits, poor nutrition, and an increased incidence of chronic issues like obesity and diabetes. Orthopedic surgical robots play a critical role in treating bone degenerative diseases, enhancing surgical precision and accuracy, and accordingly improving patient results. For example, projections from a US-based research institution, the Institute for Health Metrics and Evaluation (IHME), in August 2023 suggest that nearly 1 billion people will have osteoarthritis, with a predicted increase of 75% in knee osteoarthritis and 50% in hand osteoarthritis by 2050. Hence, the escalating prevalence of bone degenerative diseases contributes significantly to the orthopedic surgical robot market's expansion.
What Are The Main Segments Of The Global Orthopedic Surgical Robots Market?
The orthopedic surgical robots market covered in this report is segmented –
1) By Product: Robotic System, Robotic Accessories, Software And Services
2) By Application: Partial Knee Replacement, Total Knee Replacement, Minimally Invasive Surgery (MIS) Fusion, Other Applications
3) By End-User: Ambulatory Surgical Centers, Hospitals, Specialty Clinics, Other End-Users
Subsegments:
1) By Robotic System: Surgical Robotic Systems For Joint Replacement, Spine Surgery Robotic Systems, Robotic Systems For Trauma And Fracture Care
2) By Robotic Accessories: Robotic End Effectors, Instrumentation Kits, Positioning And Support Tools
3) By Software And Services: Robotic System Software, Surgical Planning And Simulation Software, Maintenance And Support Services
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How Are Emerging Trends Reshaping The Dynamics Of The Orthopedic Surgical Robots Market?
Leading businesses in the orthopedic surgical robot market are pioneering intelligent robotics solutions that are set to transform surgical procedures. These solutions are sophisticated robotic systems that integrate artificial intelligence (AI), machine learning, and the Internet of Things (IoT) to execute complicated tasks with enhanced autonomy, precision, and flexibility. For example, in March 2023, Stryker Corporation, a medical device company situated in the US, introduced Mako Total Knee 2.0 under its Mako SmartRobotics collection. The Mako Total Knee 2.0 comes with features like AccuStop haptic technology, which provides surgeons with tactile response during operations, enhancing precision and safety. It further includes surgical planning and navigation functionalities, simplifying intricate tasks with comprehensive active and passive hybrid optical tracking, cutting-edge camera and advanced processing algorithms.
Who Are the Key Players In The Orthopedic Surgical Robots Market?
Major companies operating in the orthopedic surgical robots market are:
• Johnson & Johnson
• Medtronic plc
• Siemens Healthineers
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• Intuitive Surgical Inc.
• Smith & Nephew plc
• Globus Medical Inc.
• MicroPort Orthopedics Inc.
• Renishaw plc
• Medacta International
• Aesculap Inc.
• Accuray Incorporated
• Brainlab
• Exactech Inc.
• Corin Group
• THINK Surgical Inc.
• TINAVI Medical Technologies Co Ltd.
• CUREXO Inc.
• OrthAlign Inc.
• 4WEB Medical
• OMNI Orthopaedics Inc.
• Monogram Technologies Inc.
• Asensus Surgical Inc.
• Medicaroid Corporation
What Is The Most Dominant Region In The Orthopedic Surgical Robots Market?
North America was the largest region in the orthopedic surgical robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the orthopedic surgical robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
