Orthopedic Surgical Robots Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Orthopedic Surgical Robots Market: Overview
Robot-assisted surgeries has been here for quite some time, for at least two decades, witnessed in their adoption in specialty areas. Surgical robots have started to gain groundswell of interest among orthopedic device companies or any entity that is closely associated with orthopedic surgical tools and platforms. Robotics have gained preference among surgeons of knee, hip, shoulder or spine due to striking benefits these promise. Unparalleled precision in maneuvering, marked repeatability, and least incision required to carry our surgical procedures are key ones driving investors’ interest in orthopedic surgical robots market.
Over the past few years, several firms have unveiled robot-assisted surgical platforms. Orthopedic surgical robots can be put several usages in surgeries such as navigation robots, and cutting guide robots. For instance, they have been used in the placement of implants.
Orthopedic Surgical Robots Market: Key Trends
Growing number of complex knee and hip replacement procedures in the past two years has spurred the demand for orthopedic surgical robots market. Since 2000 when the first robotic surgeries were approved by the FDA, orthopedic device companies have been adopting robot-assisted surgical platforms. The use of orthopedic surgical robots has substantially boosted the outcomes and hence reduced the case of admission. For instance, 3D pre-operative planning tools that churn out data analytics have gained adoption in improving the knee platforms.
A growing number of orthopedics, experienced as well as under-experienced physicians, in developed countries are preferring orthopedic surgical robots to assist in their procedures. The integration of sensors and its connectivity with IoT has further expanded the capabilities of orthopedic surgical robots. These trends will open new avenues in the orthopedic surgical robots market.
Orthopedic Surgical Robots Market: Competitive Analysis and Key Developments
Several orthopedic device companies have been making strategic moves to either launch or develop surgical robots in the orthopedic surgical robots market. Stryker Corp. has spent billions in adding robotic systems in their product portfolio to help in knee and hip replacement surgeries.
Numerous acquisitions have taken place in this space. Another top contender in the market are Medtronic aims to combines robotics and navigation systems in its recently launched orthopedic surgical robots for surgical robots. In 2019, it unveiled Mazor X Stealth, a robotic platform for spinal surgeries in the U.S. This is being adopted by hospitals. The device combines its Stealth software with Mazor Robotic’s Mazor X. The device won FDA clearance in November 2018. Such developements have expanded the avenue for the orthopedic surgical robots market.
Numerous other medical device companies in the orthopedic surgical robots market are keen on expanding their product portfolio by integrating 3D assessment of spine anatomy and surgical planning.
Another company DePuy Synthes is intending to introduce an ortho-surgery robot in 2020. Another product Rosa knee system Zimmer Biomet recently got 510(k) clearance for use in total knee surgery platform. In coming years, more such exciting developments will expand the canvas for players in the orthopedic surgical robots market.
Orthopedic Surgical Robots Market: Regional Assessment
The global orthopedic surgical robots market has been witnessing new avenues in North America, Europe, and Asia Pacific. North America has been seeing several new product launches and extensive development activities. The vast appetite for cutting-edge robotics in knee and spine surgeries in Asia Pacific has spurred new opportunities. Further, global players are setting their sights on expanding in this region.
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Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
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Ascensions in Technology
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The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
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