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The orthopedic surgical robots market size is estimated to grow at a CAGR of 20.11% between 2022 and 2027. The market size is forecast to increase by USD 808.5 million. The growth of the market depends on several factors, including the limitations in conventional surgeries spurring the adoption of robotic surgical platforms, the changes in regulatory scenarios, and technological developments.
This orthopedic surgical robots market report extensively covers market segmentation by application (knee surgery and hip surgery), end-user (hospitals and ambulatory service centers), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The technological developments are notably driving the market growth, although factors such as the availability of alternative treatment methods may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Technological developments are the key factor driving the growth of the global orthopedic surgical robots market. A major factor that is expected to impact the growth of the market in focus is the miniaturization of sensors, which has happened over the years and is expected in the forecast period as well. This miniaturization has reduced the cost of sensors and, in turn, that of robots. There have been innovations in mechatronic components as well, which is in tandem with the increased prevalence of information and communications technology (ICT). The software that enhances the capabilities of robotic systems has also become more affordable for vendors.
As the price of sensors continues to fall, it is expected to lead to the development of more robots that can be used for orthopedic surgeries. Orthopedic surgical robots use highly advanced and complex sensors. The development and growth of these products are closely dependent on technological advancements and growth in sensor and imaging technologies, among other components. Therefore, the growth in the sensor market and the availability of highly advanced application-specific sensors may fuel more R&D activities in the market. This is expected to improve the growth of the market in focus during the forecast period.
An increase in minimally invasive surgical (MIS) procedures in orthopedics is the primary trend in the global orthopedic surgical robot market growth. Minimal-invasive surgeries are becoming a preferred procedure in the field of orthopedics. This technique is proving to be advantageous for the reconstruction of fractured bones, joint replacement, and realignment of bone extremities. As they result in less postoperative swelling than open techniques and reduce the risk of complications, pain, and recovery times, there is an increase in preference for such surgeries. Arthroscopy is among the most common MIS procedures.
As the market gains traction, minimally invasive spinal surgeries for stabilizing spinal joints and vertebral discs are expected to gain traction during the forecast period. Vendors in the market are expected to capitalize on the preference for MIS procedures by investing in R&D and offering products such as orthopedic surgical robots, which is expected to contribute to the growth of the burgeoning market.
The presence of alternative treatment methods poses a challenge to the global orthopedic surgical robots market. Some of the alternative therapies include high-intensity focused ultrasound (HIFU), laparoscopy, cryotherapy, and open surgeries. The complexities involved in the use of robotic surgical systems, coupled with the lack of skilled surgeons, are forcing the existing healthcare fraternity to shift toward other popular alternative therapies to treat a wide variety of disorders and diseases. There are also economic benefits linked to laparoscopic surgeries that act as an alternative such as shorter hospital stay lowers overall medical costs.
This therapy is less invasive than open surgery and, therefore, results in minimal blood loss, shorter recovery periods, shorter hospital stays, and less pain. Further, in developing regions such as Africa, open surgeries are preferred over robotic surgeries due to the lack of adequate healthcare infrastructure, budget constraints, and expertise in performing robotic surgeries. Such advantages fuel the demand for alternative therapies and is expected to hamper the growth of the market in focus during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Orthopedic Surgical Robots Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asensus Surgical US Inc.: The company offers orthopedic surgical robot namely Senhance Surgical System. Also, this segment focuses on augmented intelligence, connectivity, and robotics solutions in laparoscopy, addresses the current clinical, cognitive, and economic shortcomings.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the knee surgery segment will be significant during the forecast period. Partial knee replacement is a treatment option for adults suffering from mid-stage osteoarthritis in the inner, top, or outer compartments of the knee. Robotic surgery ensures that precision is consistently reproduced while performing partial knee resurfacing.
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The knee surgery segment was valued at USD 221.35 million in 2017 and continued to grow until 2021. The knee orthopedic surgical robots offer the advantage of more precise surgeries as they restrict any unnecessary motion of the knee by tracking motion through fiducial markers and infrared camera systems, which immediately stop the robot in case of any unnecessary motion. Such advances are expected to drive the future growth of this segment during the forecast period. The growth of the knee segment is expected to contribute to the growth of the global orthopedic surgical robots market during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The orthopedic market in North America is growing at a significant rate owing to the high adoption of orthopedic surgical robots and an increase in the number of surgical procedures. Also, the growing volume of spinal non-fusion procedures, fast and easier acceptance of technologically updated spinal implants, and growing investments by vendors in clinical trials are driving market growth in this region. Further, the rise in sports-related injuries has contributed largely toward the growth of the joint reconstruction product segment, which acquired more than one-fourth of the global market share. For instance, it is estimated that 1.35 million youths suffer from sports injuries each year in North America, of which about 451,000 injuries are sprains or strains. Nearly 400,000 injuries are concussions and fractures.
In certain cases, knee replacement or knee arthroplasty is recommended by physicians to resurface a knee damaged by arthritis. The rising prevalence is driving the demand for knee replacement, which is increasing the demand for robots for increased precision and accuracy. This, in turn, is expected to increase the demand for orthopedic surgical robots market in North America.
The outbreak of COVID-19 in 2020 significantly declined the demand for orthopedic surgical robots in North America. However, the lockdowns were lifted in the second half of 2020 owing to large-scale vaccination drives across North America. This led to the resumption of operations in clinics and hospitals that offer orthopedic surgeries and treatment since the first half of 2021, which increased the demand for orthopedic surgical robots. Moreover, companies are investing heavily in R&D to find a feasible way to treat orthopedic disabilities. Such factors are expected to open up new opportunities for orthopedic surgical robots and is expected to drive the growth of the orthopedic surgical robots market in North America during the forecast period.
The orthopedic surgical robots market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global orthopedic surgical robots market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Orthopedic Surgical Robots Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.11% |
Market growth 2023-2027 |
USD 808.5 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
19.0 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asensus Surgical US Inc., Brainlab AG, Corin Group PLC, Curexo Inc., Galen Robotics Inc., GANYMED ROBOTICS SAS, Intuitive Surgical Inc., Johnson and Johnson Services Inc., KUKA AG, Medtronic Plc, Nuvasive Inc., OrthAlign Corp., Renishaw Plc, Shanghai MicroPort MedBot Group Co. Ltd., Siemens AG, Smith and Nephew plc, Stryker Corp., THINK Surgical Inc., Zimmer Biomet Holdings Inc., and Globus Medical Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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