Pune India, Dec. 07, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the orthopedic surgical robots market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the orthopedic surgical robots market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as product type, end-user, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Orthopedic Surgical Robots market are Globus Medical Inc., Renishaw Plc, NuVasive, Inc., Brainlab AG, Smith & Nephew Plc, OMNILife science Inc., Wright Medical Group NV, Stryker Corp., THINK Surgical Inc., Johnson & Johnson, THINK Surgical, Inc., CUREXO, INC., Medtronic Plc, Zimmer Biomet Holdings Inc. among others. To achieve a substantial market share in the worldwide orthopedic surgical robots market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Most illnesses affecting the musculoskeletal system are treated through orthopaedic surgery. The demand for this surgery is increasing exponentially as a result of the steady growth in spinal anomalies, joint fractures, musculoskeletal injuries, bone infections, etc. Surgical robots are the most effective and efficient tools for progressing this orthopaedic surgical procedure. Currently, the only operations that use surgical robots are acetabulum positioning, anterior cruciate ligament reconstruction, arthroscopy, femur preparation, and femoral osteotomies. Additionally, with items like the Mako orthopaedic robot, the CORI knee replacement, and robot-assisted orthopaedic surgery, the market for orthopaedic surgical robots is predicted to grow quickly. During joint replacement procedures, a doctor replaces damaged bone and cartilage with artificial components made of metal alloys, high-quality plastics, and polymers.In orthopaedic surgery, robots are often small and meticulously regulated by professionals in medical therapy. In the coming years, the market is anticipated to have profitable expansion because to the ageing population and their propensity for ailments including arthritis and joint discomfort.
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Scope of Orthopedic Surgical Robots Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | By Product Type, By End User, By region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Globus Medical Inc., Renishaw Plc, NuVasive, Inc., Brainlab AG, Smith & Nephew Plc, OMNILife science Inc., Wright Medical Group NV, Stryker Corp., THINK Surgical Inc., Johnson & Johnson, THINK Surgical, Inc., CUREXO, INC., Medtronic Plc, Zimmer Biomet Holdings Inc. among others, among others. |
Segmentation Analysis
Robotic accessories segment is expected to be the fastest growing segment in 2021.
The product type segment is robotic accessories, software and services, and robotic system. The robotic accessories segment led the largest share of the orthopedic surgical robots market and is likely to expand a a high CAGR. This is owing to the use of high-tech and modern accessories. For instance, the da Vinci surgical system from Intuitive Surgical features interactive robotic arms and Endowrist devices that are used during surgery. The company unveiled a number of tools, including robotic clip applicators, robotic atraumatic graspers, robotic scissors, and robotic bipolar dissector. Therefore, with new accessories and instruments in high demand due to advanced technologies, the overall market outlook will improve throughout the projection period.
The hospital segment is expected to be the fastest-growing segment in 2021.
The end user includes hospital and ambulatory surgery centers. The hospital segment is expected to witness the highest CAGR during the forecast period. The rise is explained by an increase in healthcare expenses across economies. Hospitals can now use contemporary surgical robots to raise the level of care and improve patient outcomes. Nowadays, numerous surgical procedures are performed in hospital settings using robot-assisted systems. For instance, a study found that the use of robot-assisted surgeries for general surgical procedures climbed by multiples, from 1.8% in 2012 to 15.1% in 2018. The aforementioned elements will therefore hasten market expansion during the research period.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Orthopedic Surgical Robots include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- North America region witnessed a major share. The increased use of cutting-edge technology in numerous surgical procedures is blamed for the high regional development. For instance, the Canadian Joint Replacement Registry (CJRR) of the Canadian Institute for Health Information (CIHI) reports that 63,496 hip replacements and 75,073 knee replacements were carried out in Canada in 2019–20. This element raises the market's need for surgical robots. Key industry players are also concentrating on creating precise and efficient surgical robots that would hasten the market expansion in North America.
Country Analysis
- Germany
Germany's Orthopedic Surgical robots market size was valued at USD 45.43 million in 2021 and is expected to reach USD 152.04 million by 2029, at a CAGR of 16.3% from 2022 to 2029.
Germany is considered as a leader in the acceptance and development of medical technologies. Additionally, the national government allocated €3 billion in its 2020 budget to help with hospital digitization. The SMR subsequently entered a potentially lucrative market in 2021 through the installation of Versius at Klinikum Chemnitz, a cutting-edge teaching and public hospital recognised for its digitally integrated healthcare solutions. Therefore, it is anticipated that these factors will support the expansion of the German market during the future years.
- China
China Orthopedic surgical robots’s market size was valued at USD 65.623 million in 2021 and is expected to reach USD 278.41 million by 2029, at a CAGR of 19.8% from 2022 to 2029. The region's healthcare infrastructure and strategic alliances amongst major industry participants are expected to stimulate demand. One of the main factors driving the growth of the nation's surgical robotics market is the rising prevalence of chronic diseases brought on by the rise in the geriatric population, the development of robotic surgery, particularly for lung cancer and thymus-thymoma, and the rising acceptance of robotic surgical procedures.
- India
India's Orthopedic Surgical robots market size was valued at USD 55.52 million in 2021 and is expected to reach USD 212.97 million by 2029, at a CAGR of 18.3% from 2022 to 2029. The market in the area is growing as a result of rising R&D expenditures and the availability of a robust healthcare infrastructure. Surgical robots are being adopted more frequently in developing nations. In addition, increased surgical procedures and healthcare costs in developing nations are anticipated to fuel market expansion over the next years.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as healthcare, pharmaceuticals, manufacturing, etc. However, several companies operating in the healthcare sector have seen increased revenue due to significant changes in consumer preferences toward healthcare services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising population of patients.
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