Robots for orthopedic surgery are created to assist orthopedic doctors during operations. These robots can assist in conducting orthopedic sports with higher accuracy and precision. Robots used in orthopedic surgery can carry out invisible scientific procedures involving bones. Typically tiny in size, hospital therapy staff controls orthopedic surgical robots scientifically.
The market worth of orthopedic surgical robots in 2021 was USD 1200.62 million, and it will be worth USD 6552.29 million by 2030, growing at a 20.75% CAGR during the forecast period.
Orthopedic surgery is largely used to treat musculoskeletal-related diseases. Due to the constant rise in spinal abnormalities, joint fractures, musculoskeletal traumas, bone infections, etc., there is an exponential increase in demand for this procedure. Surgical robots are the most effective and efficient technologies used to advance this orthopedic surgery procedure. Furthermore, the market for orthopedic surgical robots is anticipated to expand significantly due to the Mako orthopedic robot, CORI knee replacement, and robot-assisted orthopedic surgery.
Market Dynamics
Drivers
Orthopedic alignments such as ligament sprains, hip and knee fractures, osteoarthritis, torn meniscus, and demands for digitization are all on the rise. Additionally, the trend toward using surgical robots to treat orthopedic conditions is significantly enhancing the market’s growth rate.
In addition, the highly updated and improved technologies and the ongoing rise in public awareness of intrusive orthopedic techniques significantly influence the total market growth rate.
Restraints
The cost of robotic surgery is astronomical compared to traditional surgery. The cost of the robotic tools necessary to perform orthopedic surgery effectively ranges from USD 3,200 to USD 6,100.
The high cost of upkeep for surgical robots further increases the expensive cost of robotic surgery.
Opportunity
Future predictions predict robotic-assisted surgery (R.A.S.) will be the most popular technology. By standardizing surgical techniques and enabling Minimal Invasive Surgery (M.I.S.), a technique, this highly advanced and modernized technology holds enormous potential for growth in the coming years.
Market Segmentation
By End-User
The Hospital segment ruled the global market due to its persistence in carefully thought-out referral networks for effectively addressing population health needs. Hospitals spend more than USD 852.2 billion on services each year in the U.S., creating an economic output of more than USD 2.83 trillion.
However, Ambulatory Surgical Centers will be the fastest growing market segment during the forecast period and will have a big impact on the market’s overall augmentation rate in the future.
Regional Analysis
North America rules the market for orthopedic surgical robots because of its incredibly effective healthcare system and aging population. As a result, North America’s robotic surgery market significantly held the largest, with a revenue share of 40% in 2020, and will continue to dominate it throughout the forecast period.
The region of Asia-Pacific will experience the fastest growth between 2020 and 2028. The steady increase in the number of elderly individuals in this region is the main factor driving the growth of orthopedic surgical robots. China is home to 12% of the world’s seniors, which has caused a daily increase in the number of operations in this area.
Key Players
- NuVasive Inc.
- Medrobotics Corporation
- Wright Medical Group N.V.
- Intuitive Surgical
- THINK Surgical Inc.
- Zimmer Biomet
- Stryker
- OMNILife Science Inc.
- Nordson Corporation
- Medtronic
- Smith & Nephew
- Johnson & Johnson Services Inc.
- Aluris Health Inc.
- Globus Medical
- Accuracy Incorporated
The market worth of orthopedic surgical robots in 2021 was USD 1200.62 million, and it will be worth USD 6552.29 million by 2030, growing at a 20.75% CAGR during the forecast period. Global market expansion is anticipated to be fueled by an increase in the prevalence of orthopedic surgical robots as a result of rising infectious disease cases. The growing emphasis of leading companies on technological advancements in molecular diagnostics and their indulgence in collaboration and collaborations with other organizations have a significant impact on the market for orthopedic surgical robots.
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