Orthopedic Medical Robots Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD823 | Last Updated On: Jun 28 2022 | Available Formats

> Global Orthopedic Medical Robots Market Expected to reach a high CAGR by 2029: DataM Intelligence

Global Orthopedic Medical Robots Market is segmented By Product Type (Systems, Instruments & Accessories), By Anatomy (Upper Extremities (Hand, Elbow, Wrist Shoulders), Lower Extremities (Foot, Ankle, Hips, and others), By Application (Surgery, Rehabilitation), By End Users (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

Global "Orthopedic Medical Robots Market" Expected to reach a high CAGR during the forecasting period (2022 - 2029)

  • Orthopedic medical robots provide surgeons with a repeatable, precise and controlled ability to perform procedures and they are mostly used in the orthopedic surgery industry.
  • The main advantage of orthopedic medical robots over conventional orthopedic techniques are improved accuracy and precision in the preparation of bone surfaces, more reliable & reproducible outcomes, and higher spatial accuracy.

Market Drivers

  • An increase in the prevalence of musculoskeletal diseases, limitations in conventional surgeries lead to the adoption of orthopedic medical robots in surgical platforms of spine and knee replacement, increase in trauma cases and geriatric population leads to extensive usage of rehabilitation equipment across the globe are driving the global orthopedic medical robots market.
  • Increasing hospital adoption strategies that enable minimally invasive surgeries rather than open surgeries is additionally fueling the growth of orthopedic medical robots.
  • According to a study conducted by researchers at National Institute of Health in 2018, estimated that 800,000 new cases of Trauma spinal injury would be generated and the incidence rate is high in low- middle-income countries. The majority of reasons for TSI are road Traffic accidents, followed by falls.
  • According to the Health and Safety Executive in October 2018, approximately 470,000 workers are affected by work-related musculoskeletal disorders alone in Great Britan.

Restraints:

  • Major factors hindering the global Orthopedic Medical Robots Market are the high cost associated with the robotic systems and safety concerns associated with the robots during surgeries.

Market Segmentation Analysis

  • Global orthopedic medical robots market is segmented by product type, anatomy, application, and end-users. Product type includes robotic systems, instruments & accessories. Anatomy includes upper extremities and lower extremities; application type includes surgery and rehabilitation. End-users include hospitals, orthopedic clinics, and ambulatory surgical centers.
  • Surgery of an application segment dominates the global orthopedic medical robots during the forecast period due to the quality knee arthroplasty is improved with robotic capability, demand for artificial knee replacement, as geriatrics are prone to knees and hips wear out and high adoption rate of robotic surgeries in significant hospitals in united states.
  • According to Todd Albert M.D surgeon-in-chief of Hospital for Special Surgery (HSS) New York in September 2017, 1% of all joint replacements in the country are performed at HSS as they conduct 100 total knee replacements and 500 partial knee replacements out of which 85% are done through robots yearly.

Geographical Analysis

  • The global orthopedic medical robots market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
  • North America dominates the global orthopedic medical robots market during the forecast period due to an increase in demand for robot-assisted surgeries, developed healthcare infrastructure, high healthcare expenditure.
  • Increase in demand for automated and advanced devices in the field of orthopedic for spine and knee surgeries, increase in adoption orthopedic medical robots in ambulatory surgical centers.

Competitive Analysis

  • New Product launches in orthopedic medical robots by key players are driving the global Orthopedic Medical Robots.
  • In January 2019, Zimmer Biomet Received FDA Clearance for ROSA Knee System for Robotically-Assisted Surgeries.
  • In September 2018, BioMedGPS Launched SmartTRAK Robotic and Computer Assisted Surgery – Spine Module.
  • In March 2017, Stryker launched Mako for knee replacement in a cost-conscious era.
  • In January 2017, Zimmer Biotech Acquired Medtech for broadening its portfolio in robotic surgery, Medtech Rosa robot arm used for minimally invasive brain and spine surgery.
  • Major market players in the orthopedic medical robots market are Ekso Bionics, Intuitive Surgical, Medtronic, Stryker, Smith & Nephew, Wright Medical Group N., Zimmer Biomet, General Electric, Think Surgical Inc, Omni, and Others.

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