Rockville, MD , Oct. 15, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and intelligence provider, states in its latest industry report that the global orthopedic surgical robot market is estimated to reach a valuation of US$ 2.35 billion in 2024 and further expand at a CAGR of 13.5% from 2024 to 2034.
The number of surgical procedures conducted each year is increasing across the world, leaving surgeons to have to execute more difficult and time-consuming procedures. Fractures are becoming one of the main forces behind the increased demand for robotic arms; these robotic arms can print a 3D image of the shattered bone fragment, allowing surgeons to connect the 3D portion to the wounded location and treat the patient.
As the prevalence of osteoarthritis rises, more patients seek total knee replacement surgery to alleviate the discomfort caused by arthritis. People with arthritis have difficulty walking and climbing stairs, but surgery allows them to regain their fitness. The elderly population is increasing, as are orthopedic problems such as osteoporosis. The number of procedures is growing as the incidence of orthopedic problems grows. This is boosting the production of surgical robots.
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Key Takeaways from the Market Study:
- The global orthopedic surgical robot market is forecasted to reach a valuation of US$ 8.34 billion by the end of 2034.
- North America is evaluated to hold a global market share of 51.2% by 2034.
- The market in East Asia is forecasted to expand at a noteworthy CAGR of 15.8% from 2024 to 2034.
- The United States is projected to occupy a share of 94.4% of the North American market by 2034. Sales of orthopedic surgical robots in the country are evaluated to rise at a CAGR of 13.3% through 2034.
- The South Korean market is forecasted to expand at a CAGR of 15.9% from 2024 to 2034.
- Based on product type, sales of disposable orthopedic surgical robots are set to reach US$ 885.5 million in 2024.
“Orthopedic surgical robots enhance surgical precision and reduce surgery time, which leads to higher success rates and improved patient experience. This is a major factor driving market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Orthopedic Surgical Robot Market:
Medrobotics Corporation; Medtronic; Renishaw Plc; Smith and Nephew; Stryker Corporation; THINK Surgical Inc.; Transenterix; Zimmer Biomet; Accuracy Incorporated; Globus Medical; Auris Health Inc.; Johnson & Johnson Services Inc.; Nordson Corporation; OMNLife Science Inc.; Intuitive Surgical; Wright Medical Group N.V.
Focus on Reducing Risks During Orthopedic Surgery:
Orthopedic robots make it easier to insert implants accurately and provide tailored treatment to patients. They can reduce tissue injury, blood loss, and complication risk. They are at the core of the push toward digitally assisted surgery and the ongoing hunt for surgical innovation. Orthopedic businesses are taking note and pushing the boundaries to enhance robotic platforms beyond their existing capabilities.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic surgical robot market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (systems, disposables), application (partial knee replacement, total knee replacement, MIS fusion, other indications), and end user (hospitals, ambulatory surgical, specialty clinics), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
Orthopedic Surgical Robot Industry News:
Stryker completed the acquisition of Vocera Communications in February 2022. Our aspirations for digital advancement can now be accelerated and innovations can be advanced thanks to this acquisition. The addition of Vocera to Stryker's Medical business expands the company's focus on reducing adverse events throughout the continuum of care and improves the company's Advanced Digital Healthcare services.
Checkout More Related Studies Published by Fact.MR Research:
Orthopedic Surgical Robot Market: As per a new study released by Fact.MR, the global orthopedic surgical robot market is poised to reach a size of US$ 2.35 billion in 2024 and thereafter increase at a CAGR of 13.5% to climb to a value of US$ 8.34 billion by the end of 2034.
Radiosurgery and Radiotherapy Robots Market: The global radiosurgery and radiotherapy robots market is set to enjoy a valuation of US$ 5.8 billion in 2022. Worldwide sales of radiosurgery and radiotherapy robots are predicted to increase at a steady CAGR of 4.6% to reach a market valuation of US$ 7.1 billion by the end of 2026.
X-ray-based Robots Market: Worldwide sales of X-ray-based robots are anticipated to increase at a high-value CAGR of 7.1% from 2022 to 2027. In 2022, the global X-ray-based robots market is valued at US$ 4.25 billion and is projected to reach a market size of US$ 6 billion by 2027.
Orthopedic Braces and Support System Market: Sales of orthopedic braces and support systems are slated to accelerate at a CAGR of 6% to top US$ 5.5 Bn by 2031. Demand for knee braces and supports is set to increase at a CAGR of 5% across the assessment period of 2021 to 2031.
Orthopedic Devices Market: The global orthopedic devices market is estimated to evolve at a CAGR of 4% from 2023 to 2033. At present, the market is valued at US$ 45 billion and is thus expected to reach a size of US$ 67 billion by the end of 2033.
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