Orthopedic Surgical Robots—Market Insights, Size Revenue, Outlook, Overview, and Analysis. The orthopedic surgical robots market was estimated to be worth USD 712.42 million in 2023 and is predicted to expand to USD 1,101.91 million by 2032, with a CAGR of 5.2% from 2024 to 2032.
Report Scope:
This comprehensive study provides an accurate overview of the worldwide orthopedic surgical robots market. Comprehensive analyses of sales volume, price, revenue, market share, and important companies are included. The market is further divided into segments by application, end-user, and region in the study, which offers a comprehensive picture of the state of the market.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Market Definition:
Orthopedic surgical robots are created to assist orthopedic surgeons during the execution of medical procedures. These robots can help improve the accuracy and precision of orthopedic surgeries. Orthopedic surgical robots are able to carry out bone-related tasks that are challenging to observe. Orthopedic surgical robots are generally compact and are expertly controlled by healthcare providers specializing in in-hospital treatment. They support advancements that include appropriate developments, like scientific methods used to treat hip injuries, pelvic surgeries, and pubic rami.
Drivers and Trends:
- Enhancements in functional outcomes for patients post-surgery are helping boost the market. Orthopedic robotic surgery offers surgeons more flexibility, control, and precision than conventional methods for conducting complex treatments.
- The rise in osteoporosis cases has resulted in an increased need for orthopedic surgical robots to identify and treat the condition promptly and offer essential services and technologies for managing long-term illnesses in older individuals.
Top Companies:
Because there are so many companies in the market, it is expected to be both competitive and fragmented.
Here are the top companies in the orthopedic surgical robots market:
- Auris Health Inc.
- Globus Medical
- Intuitive Surgical
- Johnson & Johnson Services Inc.
- Medrobotics Corporation
- Medtronic
- Nordson Corporation
- OMNILife science Inc.
- Renishaw plc
- Smith and Nephew
- Stryker Corporation
- THINK Surgical, Inc.
- Transenterix (Asensus Surgical, Inc.)
- Zimmer Biomet
Country-Wise Insights:
According to regional analysis, in 2023, North America led the market with the largest market share and is projected to remain the dominant region during the forecast period. The rise in popularity of robot-assisted surgeries is fueled by their superior outcomes compared to open surgeries, leading to shorter hospital stays and faster recovery times, particularly in pediatric cases.
Also, there is an expectation for the Asia Pacific to witness significant growth with a consistent CAGR in the forecast period. The rising adoption of robotic-assisted surgeries in the region is anticipated to be fueled by the aging demographic, which is more susceptible to orthopedic issues.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Orthopedic Surgical Robots Market segmentation divides the market into several segments. The industry segmentation is primarily based on application and end-use. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges.
Orthopedic Surgical Robots Market, Application Outlook (Revenue – USD Million, 2019-2032)
- Spine
- Knee
- Hip
Orthopedic Surgical Robots Market, End-User Outlook (Revenue – USD Million, 2019-2032)
- Hospitals
- Ambulatory Surgery Center (ASCs)
- Others
Research Scope
Emerging Markets
Research is focusing on the adoption and impact of orthopedic surgical robots in emerging markets, where healthcare infrastructure is rapidly developing.
Long-Term Clinical Outcomes
Studies are being conducted to assess the long-term outcomes of surgeries performed using robotic assistance compared to traditional methods.
Training and Education
Research into effective training programs for surgeons to proficiently use robotic systems is gaining importance to ensure patient safety and optimal outcomes.
Future Outlook
Technological Innovations
Ongoing advancements, such as the development of portable and more versatile robotic systems, are anticipated to further drive market growth.
Regulatory Approvals
Streamlined regulatory processes and approvals for new robotic systems will facilitate quicker market entry and adoption.
Addressing Challenges
Challenges such as high costs and the need for specialized training are being addressed through technological innovations and comprehensive training programs, making robotic systems more accessible.
Recent Developments in Orthopedic Surgical Robotics
February 2024:
THINK Surgical announced a collaboration with Maxx Orthopedics to integrate Maxx Orthopedic implants into the TMINI™ Miniature Robotic System. This partnership aims to develop an open-platform orthopedic robotic system capable of supporting a wide range of implants, enhancing versatility and precision in orthopedic surgeries.
November 2023:
Monogram Orthopaedics Inc. launched its first surgical robot into the global market. This advanced, next-generation robotic system is designed to revolutionize orthopedic joint replacement surgeries by improving precision, efficiency, and patient outcomes.
These developments underscore the industry’s focus on leveraging robotic technology to advance orthopedic surgery and expand capabilities for joint replacement procedures.
The orthopedic surgical robots market growth can be attributed to the increasing incidence of knee and hip replacement surgeries, the emergence of new players in the healthcare robotics sector, and enhanced patient outcomes. Additionally, the rise in joint replacement procedures is driven by the growing prevalence of osteoarthritis in affluent countries.