The global orthopedic surgical robots market was valued at almost USD 101 million in 2016 and is expected to surpass USD 687 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global orthopedic surgical robots market, under its robotics portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like OMNI, Smith & Nephew, Stryker, and THINK Surgical.
According to Bharath Kanniappan, a lead analyst for robotics research at Technavio, “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. For instance, Stryker’s Robotic Arm Interactive Orthopedic (RIO) System is being used by surgeons to perform total knee arthroplasty with partial knee replacement procedures wherever possible.”The adoption of orthopedic surgical robots is attributable primarily to the advantages they offer over conventional surgeries. One of these is the accuracy in the placement of implants, which is achieved with the involvement of orthopedic surgical robots. This can, in turn, fulfill the need for hospitals to increase their return on investment (ROI) and reduce post-operative complications such as premature implant failure, revisions, and mechanical faults, and reduce hospitalization and recovery time.
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Increase in minimally invasive surgery (MIS) procedures in orthopedics
Arthroscopy is among the most common MIS procedures. As the market gains traction, minimally invasive spinal surgeries for stabilizing spinal joints and vertebral discs will gain traction. 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, resulting in growth of the market.
Marketing initiatives to increase adoption of robot-assisted surgeries
Vendors in the market space are investing in training personnel to help them capitalize on cross-selling and upselling opportunities. Apart from the improvement in the selling skills of sales personnel, vendors are also expected to make consistent efforts in product bundling to ensure that they sell other orthopedic devices, especially implants along with their surgical robots, at discounted rates. Such initiatives are projected to propel the demand for orthopedic surgical robots during the forecast period.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Orthopedic Surgical Robots Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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