Demand for orthopedic surgical robots on the rise because
they minimize the risk of tissue injury during surgery, thus
improving outcomes and the trust of patients, says Fact.MR.
ROCKVILLE, Md., May 27, 2024
/PRNewswire/ -- Fact.MR, a market research and intelligence
provider, states in its latest industry report that the global
orthopedic surgical robots market is estimated to reach a valuation
of US$ 2.35 billion in 2024
and further expand at a CAGR of 13.5% from 2024 to 2034.
The number of surgical procedures conducted each year is
increasing across the world, leaving surgeons to have to execute
more difficult and time-consuming procedures. Fractures are
becoming one of the main forces behind the increased demand for
robotic arms; these robotic arms can print a 3D image of the
shattered bone fragment, allowing surgeons to connect the 3D
portion to the wounded location and treat the patient.
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As the prevalence of osteoarthritis rises, more patients seek
total knee replacement surgery to alleviate the discomfort caused
by arthritis. People with arthritis have difficulty walking and
climbing stairs, but surgery allows them to regain their fitness.
The elderly population is increasing, as are orthopedic problems
such as osteoporosis. The number of procedures is growing as the
incidence of orthopedic problems grows. This is boosting the
production of surgical robots.
Key Takeaways from the Market Study
The global orthopedic surgical robots market is forecasted to
reach a valuation of US$ 8.34 billion
by the end of 2034.
North America is evaluated to
hold a global market share of 51.2% by 2034.
The market in East Asia is
forecasted to expand at a noteworthy CAGR of 15.8% from 2024 to
2034.
The United States is projected
to occupy a share of 94.4% of the North American market by 2034.
Sales of orthopedic surgical robots in the country are evaluated to
rise at a CAGR of 13.3% through 2034.
The South Korean market is forecasted to expand at a CAGR of
15.9% from 2024 to 2034.
Based on product type, sales of disposable orthopedic surgical
robots are set to reach US$ 885.5
million in 2024.
"Orthopedic surgical robots enhance surgical precision and
reduce surgery time, which leads to higher success rates and
improved patient experience. This is a major factor driving market
growth," says a Fact.MR analyst.
Focus on Reducing Risks during Orthopedic Surgery
Orthopedic robots make it easier to insert implants accurately
and provide tailored treatment to patients. They can reduce tissue
injury, blood loss, and complication risk. They are at the core of
the push toward digitally assisted surgery and the ongoing hunt for
surgical innovation. Orthopedic businesses are taking note and
pushing the boundaries to enhance robotic platforms beyond their
existing capabilities.
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Recent Developments:
The orthopaedic surgical robots market is very competitive, with
only a few significant manufacturers dominating it. To sustain
market rivalry and extend their product offerings, top market
players are employing a variety of growth tactics, including
continuous innovation and technological breakthroughs. They are
adjusting to changing market trends, such as the usage of
X-ray-based and radiosurgery robots.
In February 2022, Stryker
completed the acquisition of Vocera Communications. This
acquisition opens up significant opportunities to advance
innovations and accelerate our digital ambitions. Vocera brings a
highly complementary and innovative portfolio to Stryker's Medical
division, enhancing the company's Advanced Digital Healthcare
offerings and furthering Stryker's focus on preventing adverse
events across the continuum of care.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of
the orthopedic surgical robot market for 2019 to 2023 and forecast
statistics for 2024 to 2034.
The study divulges essential insights into the market based on
product type (systems, disposables), application (partial knee
replacement, total knee replacement, MIS fusion, other
indications), and end user (hospitals, ambulatory surgical,
specialty clinics), across seven major regions of the world
(North America, Latin America, Eastern Europe, Western Europe, East
Asia, South Asia &
Pacific, and MEA).
Explore More Related Studies Published by Fact.MR
Research:
Orthopedic Braces and Support System Market is
slated to accelerate at a CAGR of 6% to
top US$ 5.5 Bn by
2031
X-ray-based Robots Market valued at $4.25 billion in 2022, are expected to grow at a
7.1% CAGR, reaching $6 billion by
2027.
Orthopedic Devices Market was valued at
$45 billion in 2023 and is projected
to grow at a 4% CAGR, reaching $67
billion by 2033.
Orthopedic Implants Market was valued at
US$ 468 Million by the end of 2022
and is likely to flourish at a CAGR of 6.7% across the
2022-2032
About Fact.MR:
Fact.MR is a distinguished market research company renowned
for its comprehensive market reports and invaluable business
insights. As a prominent player in business intelligence, we
deliver deep analysis, uncovering market trends, growth paths, and
competitive landscapes. Renowned for its commitment to accuracy and
reliability, we empower businesses with crucial data and strategic
recommendations, facilitating informed decision-making and
enhancing market positioning. With its unwavering dedication to
providing reliable market intelligence, FACT.MR continues to assist
companies in navigating dynamic market challenges with confidence
and achieving long-term success. With a global presence and a team
of experienced analysts, FACT.MR ensures its clients receive
actionable insights to capitalize on emerging opportunities and
stay ahead in the competitive landscape.
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