How is the Orthopedic Surgical Robots Market Poised for Growth: Trends and Opportunities Through 2034
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What key factors are powering the surge in the orthopedic surgical robots market right now?
The market for orthopedic surgical robots has experienced swift expansion in recent times. Its value is projected to increase from $1.13 billion in 2024 to $1.27 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.1%. Factors contributing to this upward trend during the historic period include a higher occurrence of orthopedic disorders, an upsurge in the requirement for less invasive surgical procedures, a rise in the elderly population, enhanced surgical results and accuracy, increased healthcare expenditure, greater incorporation of robotic systems in medical facilities, and broadening uses in joint replacement operations.
How fast Is the orthopedic surgical robots market expected to grow, and what’s its future value?
The market size of orthopedic surgical robots is predicted to expand exponentially over the coming years, expected to reach $1.99 billion by 2029 with a compound annual growth rate (CAGR) of 11.9%. This surge expected within the forecasted period is largely due to factors such as improvements in healthcare infrastructure, increased funding dedicated to research and development, rising occurrence of orthopedic conditions, advantageous insurance reimbursement policies, and a booming elderly population. Notable trends projected within the forecasted period involve the utilization of AI and machine learning to improve results, advancements in technology that increase precision and efficiency, the inclusion of augmented reality capabilities, the advent of transportable robotic systems, and the introduction of hybrid systems that integrate robotic and navigation technologies.
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What are the leading drivers of growth in the orthopedic surgical robots market?
The rising number of bone degenerative diseases is anticipated to stimulate the expansion of the orthopedic surgical robot market in the future. These diseases progressively harm bone tissue, causing weak bones, pain, increased risk of fractures and other problems. The rise in bone degenerative diseases can be associated with factors such as the aging population, inactive lifestyles, poor eating habits, and the increased incidence of chronic conditions like obesity and diabetes. Orthopedic surgical robots are used in treating bone degenerative diseases to heighten the precision and accuracy during surgical procedures, enhancing patient results. For example, in August 2023, projections from the Institute for Health Metrics and Evaluation (IHME), a US research institution, predicted that nearly 1 billion people are expected to suffer from osteoarthritis, with an anticipated increase of 75% and 50% in knee and hand osteoarthritis respectively by 2050. Thus, the rising prevalence of bone degenerative diseases is fueling the growth of the orthopedic surgical robot market.
What are the key segments defining the orthopedic surgical robots market?
The orthopedic surgical robots market covered in this report is segmented –
1) By Product: Robotic System, Robotic Accessories, Software And Services
2) By Application: Partial Knee Replacement, Total Knee Replacement, Minimally Invasive Surgery (MIS) Fusion, Other Applications
3) By End-User: Ambulatory Surgical Centers, Hospitals, Specialty Clinics, Other End-Users
Subsegments:
1) By Robotic System: Surgical Robotic Systems For Joint Replacement, Spine Surgery Robotic Systems, Robotic Systems For Trauma And Fracture Care
2) By Robotic Accessories: Robotic End Effectors, Instrumentation Kits, Positioning And Support Tools
3) By Software And Services: Robotic System Software, Surgical Planning And Simulation Software, Maintenance And Support Services
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Who are the key players steering the development of the orthopedic surgical robots market?
Major companies operating in the orthopedic surgical robots market are Johnson & Johnson, Medtronic plc, Siemens Healthineers, Stryker Corporation, Zimmer Biomet Holdings Inc., Intuitive Surgical Inc., Smith & Nephew plc, Globus Medical Inc., MicroPort Orthopedics Inc., Renishaw plc, Medacta International, Aesculap Inc., Accuray Incorporated, Brainlab, Exactech Inc., Corin Group, THINK Surgical Inc., TINAVI Medical Technologies Co Ltd., CUREXO Inc., OrthAlign Inc., 4WEB Medical, OMNI Orthopaedics Inc., Monogram Technologies Inc., Asensus Surgical Inc., Medicaroid Corporation
What key trends are currently impacting the orthopedic surgical robots market’s development?
Leading businesses in the orthopedic surgical robot market are pioneering intelligent robotic solutions to transform surgical methods. These intelligent robotics solutions incorporate AI, machine learning, and IoT to execute intricate operations with high degrees of autonomy, accuracy, and adaptability. In March 2023, for example, Stryker Corporation, a renowned medical device company based in the United States, introduced the Mako Total Knee 2.0 as a key component of its Mako SmartRobotics range. The system includes features like AccuStop haptic technology, which gives surgeons tactile feedback for enhanced precision and safety during surgical processes. Moreover, the system offers surgical planning and navigation features, making complicated operations easier with comprehensive active and passive hybrid optical tracking, top-of-the-line camera, and advanced processing algorithms.
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Which regions are most influential in expanding the orthopedic surgical robots market?
North America was the largest region in the orthopedic surgical robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the orthopedic surgical robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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