Wilmington, Delaware, United States, July 17, 2023 (GLOBE NEWSWIRE) -- The global spine surgery robots market stood at US$ 158.4 million in 2022, and the global market is projected to reach US$ 525.3 million by 2031. The global industry is anticipated to record a CAGR of 14.0% between 2023 and 2031.
The value of spine surgery robots market is increasing, owing to the increasing prevalence of spinal disorders, such as degenerative disc disease, spinal stenosis, and herniated discs. The conditions often require surgical intervention, and the adoption of spine surgery robots can offer precise and minimally invasive procedures, resulting in improved patient outcomes. The growing patient pool with spinal disorders is expected to drive the demand for spine surgery robots.
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Advancements in robotic technology, is another significant factor contributing to the market growth. There have been rapid advancements in robotic technology, specifically in the field of surgical robots. The development of sophisticated robotic systems with improved accuracy, dexterity, and visualization capabilities has revolutionized spine surgery. Robotic-assisted procedures provide surgeons with real-time imaging, 3D visualization, and enhanced precision, leading to better surgical outcomes. The continuous advancements in robotic technology are expected to fuel the growth of the spine surgery robots market.
The market prospects have been driven by factors such as growing demand for minimally invasive surgeries, which have gained significant popularity in recent years due to their advantages over traditional open surgeries, such as smaller incisions, reduced blood loss, shorter hospital stays, and faster recovery. Spine surgery robots play a crucial role in facilitating minimally invasive procedures by providing surgeons with enhanced precision and control. The increasing preference for minimally invasive surgeries among patients and surgeons is expected to drive the adoption of spine surgery robots.
Key Findings of the Market Report
- On the basis of component, the systems segment is expected to fuel at a significant share, and is likely to be most preferred, attributed to the technological advancements in robotic systems, and rising prevalence of spinal disorders and injuries.
- By method, the minimally invasive segment is anticipated to fuel the market growth, owing to the factors such as growing demand for less invasive treatment options, as well as surge in spinal disorders and degenerative conditions.
- By Application, the spinal fusion segment is expected to augment the market growth, attributed to the factors including rising prevalence of spinal conditions requiring fusion, and growing adoption of robotic-assisted techniques in complex spinal procedures.
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Global Spine Surgery Robots Market: Growth Drivers
- The global spine surgery robots market is projected to expand at a steady pace from 2023 to 2031, owing to the rising geriatric population, as well as increasing healthcare expenditure.
- Other factors that are projected to augment the market growth include favorable reimbursement policies, and surge in number of complex spinal surgeries.
- Integration of artificial intelligence & machine learning, and expanding applications in other medical specialties, are the major factors that are anticipated to fuel the market prospects in the near future.
Global Spine Surgery Robots Market: Regional Landscape
- North America is expected to dominate the spine surgery robots market, and is expected to hold a significant share during the forecast period, attributed to increasing prevalence of spinal disorders, and technological advancements & infrastructure development in the region.
- The regional market is witnessing an increase, due to the factors such as strong favorable reimbursement policies & healthcare spending, as well as increasing demand for minimally invasive procedures.
- Collaborations & partnerships among companies, and research & development activities in the region, are also anticipated to escalate the growth of the regional market over the analysis period.
Global Spine Surgery Robots Market: Key Players
Some of the key market players in the global spine surgery robots market are:
- Medtronic plc
- Zimmer Biomet
- Globus Medical, Inc.
- TINAVI Medical Technologies Co., Ltd.
- Point Robotics MedTech, Inc.
- NuVasive, Inc.
- Brainlab AG
- Curexo, Inc.
- Accelus, Inc.
- Synaptive Medical
Competitive Landscape
Prominent players in the spine surgery robots industry are taking advantage of the rapidly increasing demand for spine surgery robots. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In January 2023, Medtronic announced the commercial launch of its new robotic-assisted surgical platform, Hugo™. The system offers advanced capabilities for spine surgery, including 3D visualization, intelligent navigation, and robotic guidance, enhancing surgical precision and efficiency.
- In November 2022, Globus Medical announced the FDA clearance and commercial launch of its ExcelsiusGPS® Next Generation robotic system. The system provides real-time imaging and navigation for spine surgery, enabling surgeons to plan and execute procedures with improved accuracy and patient-specific customization.
- In October 2022, Zimmer Biomet announced the FDA clearance and commercial launch of the Rosa® SPINE robotic system. The system offers a comprehensive solution for minimally invasive and complex spine surgeries, combining advanced imaging, navigation, and robotic guidance to enhance surgical accuracy and patient outcomes.
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Global Spine Surgery Robots Market: Segmentation
Component
- Systems
- Instrument & Accessories
- Services & Others
Method
- Minimally Invasive
- Open Surgery
Application
- Spinal Fusion
- Vertebral Compression Fractures
- Spinal Deformities
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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