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Orthopedic Surgical Robots Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2020
  • Pages: 120
  • SKU: IRTNTR45626
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The orthopedic surgical robots market size has the potential to grow by USD 1.06 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (knee surgery and hip surgery) and geography (North America, Europe, Asia, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Globus Medical Inc., Johnson & Johnson, Medtronic Plc, OMNILife science Inc., Renishaw Plc, Smith & Nephew Plc, Stryker Corp., THINK Surgical Inc., Wright Medical Group NV, and Zimmer Biomet Holdings Inc.

Market Overview

Orthopedic Surgical Robots Market Size

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Market Competitive Analysis

The market is concentrated with the presence of a few established international vendors holding significant parts of the market share. The competition between these vendors is intense in terms of product features, price, customized solutions, and services offered. These established vendors focus on geographical expansion, increasing production capacities, and upselling products by upgrading the existing ones. Globus Medical Inc., Johnson & Johnson, and Medtronic Plc are some of the major market participants. Although the limitations in conventional surgeries spurring the adoption of robotic surgical platforms will offer immense growth opportunities, the high equipment and maintenance cost will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this orthopedic surgical robots market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this orthopedic surgical robots market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

 

  • Globus Medical Inc.
  • Johnson & Johnson
  • Medtronic Plc
  • OMNILife science Inc.
  • Renishaw Plc
  • Smith & Nephew Plc
  • Stryker Corp.
  • THINK Surgical Inc.
  • Wright Medical Group NV
  • Zimmer Biomet Holdings Inc.

 

Orthopedic Surgical Robots Market: Segmentation by Application

Orthopedic Surgical Robots Market Market segmentation by region

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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.

Market growth in the knee surgery segment will be slower than the growth of the market in the hip surgery segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the orthopedic surgical robots market size.

Orthopedic Surgical Robots Market: Segmentation by Geography

Orthopedic Surgical Robots Market Segmentation

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North America was the largest orthopedic surgical robots market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the high adoption rate of orthopedic surgical robots and the increase in the number of surgical procedures will significantly drive orthopedic surgical robots market growth in this region over the forecast period.

60% of the market's growth will originate from North America during the forecast period. The US is one of the key markets for orthopedic surgical robots in North America. Market growth in this region will be slower than the growth of the market in Asia and Europe.

Orthopedic Surgical Robots Market: Key Drivers and Trends

The global orthopedic surgical robots market report predicts the market to grow steadily at a CAGR of almost 44% by 2024. One of the primary orthopedic surgical robots market drivers is the limitations of conventional surgeries compelling the adoption of robotic surgical platforms. The major drivers of orthopedic surgical robots are the advantages they offer over-conventional surgeries. One of these is the accuracy in the placement of implants, which is achieved through the involvement of orthopedic surgical robots. Also, orthopedic surgical robots allow for more dexterity, efficiency in hand-eye coordination, ergonomic positioning, and improvement in visualization with the assistance of CT scans, preoperative plans, and simulation software. Hospitals are increasingly adopting strategies that enable minimally invasive surgeries rather than open surgeries. Orthopedic surgical robots can solve medical issues in a less invasive manner. 

One of the latest orthopedic surgical robots market trends gaining traction is the increase in strategic collaborations to develop advanced robotic platforms. Companies interested in offering surgical robots are resorting to strategic collaborations with other companies, which offer unique surgical technology features to capitalize on their synergistic capabilities. This can increase the market value of those products as well as increase the orthopedic surgical robots market share of the companies, besides ensuring that superiority is achieved in terms of R&D, sales, and marketing. This, in turn, will propel growth in the global orthopedic surgical robots market in the coming years.

 

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Orthopedic Surgical Robots Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive orthopedic surgical robots market growth during the next five years
  • Precise estimation of the orthopedic surgical robots market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the orthopedic surgical robots industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of orthopedic surgical robots market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Knee surgery - Market size and forecast 2019-2024
  • Hip surgery - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • Asia - Market size and forecast 2019-2024
  • ROW - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Globus Medical Inc.
  • Johnson & Johnson
  • Medtronic Plc
  • OMNILife science Inc.
  • Renishaw Plc
  • Smith & Nephew Plc
  • Stryker Corp.
  • THINK Surgical Inc.
  • Wright Medical Group NV
  • Zimmer Biomet Holdings Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Orthopedic Surgical Robots market growth will increase by $1060.34 million during 2019-2024.
The orthopedic surgical robots market is expected to grow at a CAGR of 43.65% during 2019-2024.
Technavio has segmented the orthopedic surgical robots market by application (Knee surgery and Hip surgery) and geographic (North America, Europe, Asia, and ROW).
Globus Medical Inc., Johnson & Johnson, Medtronic Plc, OMNILife science Inc., Renishaw Plc, Smith & Nephew Plc, Stryker Corp., THINK Surgical Inc., Wright Medical Group NV, Zimmer Biomet Holdings Inc. are a few of the key vendors in the orthopedic surgical robots market.
North America will register the highest growth rate of 59.98% among the other regions. Therefore, the orthopedic surgical robots market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the orthopedic surgical robots market growth are:
  • Limitations in conventional surgeries spurring the adoption of robotic surgical platforms
  • Increase in minimally invasive surgery (MIS) procedures in orthopedics
The orthopedic surgical robots market vendors should focus on grabbing business opportunities from the knee surgery segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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