Global orthopedic surgical robotic devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of orthopedic surgical robotic devices market for global, Europe, North America, Asia- Pacific, South America and Middle East & Africa.
Global Orthopedic Surgical Robotic Devices Market is expected to rise from its initial estimated value of USD 464.68 million in 2018, to a projected value of USD 2748.51 million by 2026, registering a CAGR of 24.88% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in innovations and adoption of surgical robots and robot assistance in healthcare and treatment market.
Global Orthopedic Surgical Robotic Devices Market By Component (Instruments & Accessories, Robotic Systems), Clinical Application (Upper Extremities, Lower Extremities, Others), End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Key Market Competitors:
Major competitors currently present in the market are Stryker; Ekso Bionics; Wright Medical Group N.V.; THINK Surgical, Inc.; Intuitive Surgical; Smith & Nephew; OMNIlife science, Inc.; GENERAL ELECTRIC; Medtronic; Zimmer Biomet; Johnson & Johnson Services, Inc.; Medrobotics Corporation; TransEnterix Surgical, Inc.; Renishaw plc and Mazor Robotics.
- Rise in adoption and preference of robotic systems and devices which has been a result of increased investments and funding for research and developments is one of the major factors for the market growth
- Increased efficiency and benefits with the usage of surgical robots in surgical procedures is one of the major factor for the market growth
- High cost of implementation and usage of these devices requires high cost for maintenance; this factor is expected to restrain the market growth
Orthopedic surgical robotic devices can be defined as those surgical components and devices that have been equipped with a computerized chip and a software program resulting in better efficiency and effectiveness in comparison to a surgeon might be able to achieve. These robotic devices are designed to effectively withstand the circumstance and perform personalized procedures beyond the conventional capabilities of a human surgeon or physician.
Segmentation: Global Orthopedic Surgical Robotic Devices Market
- By Component
- Instruments & Accessories
- Robotic Systems
- By Clinical Application
- Upper Extremities
- Lower Extremities
- Foot & Ankle
- Upper Extremities
- By Component
- By End-User
- Ambulatory Surgical Centers
- Specialty Clinics
Key Developments in the Market:
- In January 2019, Zimmer Biomet announced that they had received US FDA 510 (k) clearance for their “ROSA Knee System”, for usage in robotically-accomplished knee replacement procedures.
- In March 2017, Stryker announced the launch of their knee replacement robotic arm system, “MAKO Total Knee”. This will help the surgeons in performing precise and effective knee replacement and surgical procedures.
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Dan Carter was a reporter for nomad Labs, before becoming the lead editor. Dan has over forty bylines and has reported on countless stories concerning all things related to tech and science. Dan studied at CSUF.