Orthopedic Surgical Robots Market Size to grow by USD 1492.7 million between 2024-2028
According to a research report “ Orthopedic Surgical Robots Market” by Application (Knee surgery, Hip surgery) End-user (Hospitals, Ambulatory service centers) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1492.7 million, at a CAGR of almost 27.17% during the forecast period. Orthopedic surgical robots represent a significant investment for hospitals, offering enhanced accuracy in implant placement and subsequent cost savings through reduced postoperative complications and shorter hospital stays. These advanced technologies provide surgeons with increased dexterity, improved hand-eye coordination, ergonomic positioning, and superior visualization, facilitated by CT scans, preoperative plans, and simulation software. Key drivers in the orthopedic surgical robots market include the potential for increased ROI, minimized risks, and heightened surgical precision.
Browse market data tables, figures, and in-depth TOC on “Orthopedic Surgical Robots Market” by Application (Knee surgery, Hip surgery) End-user (Hospitals, Ambulatory service centers) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By Application, the Knee surgery segment is projected to dominate the market size in 2024
In the orthopedic surgical robots market, hospitals represent a significant customer base. These institutions offer a range of services, from diagnosis and outpatient consultation to surgical intervention and treatment. The rising demand for orthopedic procedures, including total knee replacement, hip replacement, and joint impairment surgeries, has driven the adoption of orthopedic surgical robots. Private hospitals, with their financial resources, can invest in these advanced systems to enhance their market reputation. Conversely, public hospitals, relying on government funding, face challenges in procuring such sophisticated technology.
By End-user, Hospitals segment is expected to hold the largest market size for the year 2024
In the orthopedic surgical robots market, advanced technologies are revolutionizing partial knee replacement procedures for mid-stage osteoarthritis patients. Robotic surgery guarantees consistent precision during partial knee resurfacing. The market is expanding in developed and developing countries, with a focus on innovating new prostheses and implementing cutting-edge technologies for enhanced patient quality of life. Approximately 90% of individuals undergoing total knee replacement report significant pain relief according to the American Academy of Orthopaedic Surgeons (AAOS).
North America is forecasted to hold the largest market size by region in 2024
The Orthopedic Surgical Robots Market represents a significant growth opportunity for businesses, driven by advancements in robotic technology and increasing demand for minimally invasive procedures. Robots offer enhanced precision, flexibility, and repeatability, leading to improved patient outcomes and reduced recovery times. Market size is projected to expand, fueled by rising healthcare expenditures and an aging population. Companies investing in this sector can expect strong returns.
The Orthopedic Surgical Robots Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Orthopedic Surgical Robots market is witnessing new developments in the field of Extremity Orthopedics, driven by advancements in technology and research. Companies like Engage Surgical and Monogram Orthopedics are leading this innovation, developing robotic arms for precise acetabulum positioning during orthopedic surgery. These robots are essential in addressing musculoskeletal disorders, such as osteoarthritis and bone deformities, by providing improved accuracy and reducing the risk of complications. Technological advances, including molecular diagnostics and arthroscopy, are also contributing to the growth of this market. Surgical robots are increasingly being used to treat musculoskeletal traumas, joint fractures, and spinal deformities. Robotic arms are particularly beneficial in orthopedic surgery due to their ability to perform complex procedures with minimal invasiveness. Moreover, the manufacturing sector is investing heavily in the development of orthopedic surgical robots to address the growing demand for minimally invasive procedures. The human skeletal system's intricacies require advanced technology, and surgical robots offer a solution to the challenges faced by orthopedic surgeons in treating bone infections and bone deformities. The future of orthopedic surgery lies in the integration of these advanced technologies, providing better patient outcomes and improved quality of life.
Market Research Overview
The Orthopedic Surgical Robots market is experiencing significant growth due to technological advances in robotic equipment and self-efficacy among providers. Robotic surgeries, including those for spinal deformities and musculoskeletal traumas, offer precision and safety benefits that are particularly important for complex procedures. Skilled expertise in orthopedic disorders, such as osteoporosis, osteoarthritis, and meniscus tear, is crucial in addressing the needs of the aging population. New developments in orthopedic research, like monogram orthopedics and molecular diagnostics, are driving innovation in the market. Regulatory standards ensure the quality and safety of robotic arm systems used in outpatient centers and inpatient facilities for procedures like hip and femur preparation, femoral osteotomies, and knee replacements. The market for orthopedic surgical robots is witnessing a digitization trend, with approvals for new devices like the Mako orthopedic robot and CORI knee replacement. This growth is fueled by the increasing awareness of the benefits of robotic surgeries for treating bone fractures, infections, and deformities. Despite these advancements, there are skill gaps that need to be addressed, particularly in areas like arthroscopy and acetabulum positioning. Providers must continue to invest in residency training programs to ensure they have the necessary expertise to effectively utilize these advanced technologies. In summary, the Orthopedic Surgical Robots market is poised for continued growth due to the increasing demand for minimally invasive procedures, the aging population, and the ongoing development of new technologies.
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Technavio Research
Jesse Maida
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Email: media@technavio.com
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