Orthopedic Surgical Robots Market to Surpass US$ 4,100 Million by 2029
Orthopedic Surgical Robots – Where Technology Enables Quality Care
Role of healthcare advances in delivering quality care and bringing improvements in success rates has been remarkable. Healthcare services have long relied, and will continue relying on technology as a core utility for fine-tuning multiple processes and enhancing consequential outcomes. Penetration of surgical robots is emerging as a bright spot in the global orthopedics services landscape, as the convergence of ‘orthopedics’ and ‘robotics’ has breathed new life into process efficiency and patient recovery paradigms.
The next 10 years is set to see a significant upshift in the deployment of orthopedic surgical robots, as these robots will not only enable minimally invasive approaches but also curb the burden associated with critical surgeries. Once orthopedic surgical robots take root, the degree of quality and effectiveness in the orthopedic space is likely to scale up substantially in the coming years. Persistence Market Research (PMR), in its recent research report, offers a deep dive into the evolution of orthopedic surgical robots market through 2029, which will help the readers with constructive decision-making.
Orthopedic Surgical Robots – The Journey So Far and What Lies Ahead
Emerging technologies continue to reform healthcare services in multiple ways—how providers deliver, how consumers access, and what outcomes are achieved. Among all the prominent emerging technologies shaping up healthcare pools, the concept of surgical robots managed to grab eyeballs in the early 2000s. The evolution of orthopedic surgical robots has been strongly upheld by the ever-evolving demands for adaptability and efficacy in the orthopedic services space. Revenues from the orthopedic surgical robots market closed in on a valuation of approximately US$ 1,037 Mn in 2018.
Orthopedic surgical robots not only assist healthcare service providers in devising effective surgical blueprints but also enable seamless optimization of implant placements and mechanical alignments. As the deployment of orthopedic surgical robots is set to take off in the coming years, it will oil the wheels for successful orthopedic surgeries with minimum post-operative complications. Persistence Market Research estimates that the orthopedic surgical robots market revenue is set to exceed US$ 4,100 Mn by the end of 2029.
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Trends Disrupting the Orthopedic Surgical Robots Space
While the orthopedic surgical robots market is headed toward a bright future, impact of the undercurrents remains quite significant. One of the overriding trends in the orthopedic surgical robots space is the proliferation of a specific class of robots, known as ‘’semi-active” robots. By offering an eminent combination of flexibility and accuracy, these robots are outperforming the conventional orthopedic surgical robots and proving their mettle in delivering effective care. On top of that, semi-active robots also provide user-friendly interfaces for easy access and make the surgeries minimally invasive as well as highly accurate.
Another key trend bringing major reformations is the idea of patient-specific templates for orthopedic surgeries. This concept enables the development of 3-dimensional surgical plans for implementation, along with rapid designing and manufacturing of tailor-made drilling and cutting templates. Robotic intervention in orthopedic surgeries offers immense scope for effective application of these templates onto the affected joint surfaces. As the orthopedic community is responding to the growing inclination toward patient-specific templates, orthopedic surgical robot manufacturers are also scaling up to meet the anticipated demand.
How are Market Players Winning Customers and Growing Business?
While the leading players in the orthopedic surgical robots landscape continue to reap benefits from direct sales, the mid-level and emerging players increasingly count on distributors to level up their sales performances. As direct sales entail heavy capital investments, it is highly difficult for the mid-level and emerging players to pull off a sales boost via direct sales.
Companies in the orthopedic surgical robots landscape are working on ‘strategy-building’ around the ever-evolving patient needs, which will serve as a key enabler for driving positive outcomes. For instance, DePuy Synthes, in line with its strategic plan to maximize value for patients and users, is pulling off crucial inferences from the evolving customer preferences and adopting a selective approach to revive quality of its orthopedic surgical robotic offerings. In addition, companies are also vying to expand their foothold into the emerging economies of East and South Asia, as the adoption of orthopedic surgical robotics in these regions is in a rudimentary stage with immense potential for growth.
Orthopedic Surgical Robots – A “Winner-Takes-All” Market
The orthopedic surgical robots market landscape continues being a “winner-takes-all” market, wherein the goliaths command nearly 90% of the market value. Invincible product portfolios and huge geographical presence remain two of the key strengths of leading companies operating in the orthopedic surgical robots market. In addition, strong brand images and constant investments in product developments and innovations uphold potential of these companies in the orthopedic surgical robots market.
The small-scale and emerging manufacturers heavily rely on third-party distributors to push their products into the market and reap profits. Few of the forerunners commanding a disproportionately larger pie of the global market share include Intuitive Surgical Inc., Stryker Corporation, and Smith & Nephew Plc.
The authors of this report remain extremely optimistic regarding the future of orthopedic surgical robots market in 2019 and beyond, as healthcare service providers are more than keen to integrate new technologies and deliver high value. Gone are the days when the concept of surgical robotics in orthopedic community was new, rather it is emerging as a mainstay of effective healthcare services.
Authors of the report opine that conventional healthcare dynamics, which include ingrained preferences of patients & clinics and complex regulatory frameworks, will continue to affect adoption of orthopedic surgical robots. However, transition of healthcare pools toward a ‘technology-driven’ future will continue underpinning the deployment of orthopedic surgical robots through 2029.
Technological advancements and collaborations in the orthopedic surgical robots market
Manufacturers of orthopedic surgical robots are focused on providing technologically advanced products that are highly efficient and further improve the performance of surgical procedures by surgeons. Robot-assisted surgeries have gained immense popularity over the years as they provide more precise and improved outcomes with less patient discomfort. Orthopedic surgical robots involve comparatively small scars and incisions, reduced risk of infections, faster recovery time, less need for blood transfusions, and shorter hospital stays.
The da Vinci Surgical System in 2000, became the first U.S. FDA (Food and Drug Administration)-approved robotic surgery system. Several other manufacturers of orthopedic surgical robots are heavily investing in robotics for providing better navigation during surgery procedures as well as for obtaining 3-Dimensional scans that help in the design of customized joints. Companies that are making investments and entering into collaborations for the production of orthopedic surgical robots include Stryker Corporation, OMNlife Science Inc., Zimmer Biomet, Mazor Robotics, Smith & Nephew, Think Surgical, Verb Surgical, and Intuitive Surgical. For instance, Zimmer Biomet added the ROSA surgery robot system to its product portfolio, which is used for spine fusion and brain surgeries through its acquisition of Medtech. Major collaborations between manufacturers is also expected to boost the growth of the orthopedic surgical robots market during the forecast period. For instance, Stryker Corporation acquired Mako Surgical Corp. for total hip replacement and total knee construction surgery robot systems, and Smith & Nephew acquired Blue Belt Holdings for orthopedic surgical robots products used for partial knee replacements.
Variation in modalities, use of disposables, and favorable reimbursement expected to fuel the growth of the orthopedic surgical robots market
The average price range of orthopedic surgical robots is between USD 0.5 million to USD 1.5 million. Despite the high costs associated with orthopedic surgical robots, these systems have proven to be profitable in the long run for surgery procedures as a whole. There are 3 different modalities for robot-assisted surgery systems, which include remote surgical systems, shared control systems, and supervisory controlled systems. The popularity of orthopedic surgical robots, majorly in developed regions, has boosted the market growth over the years. Orthopedic surgical robots have been successfully implemented in several hospitals globally, and have received acceptance worldwide. The use of disposables during surgeries has also gained wide acceptance due to the low risk of infections associated with disposables. The presence of a large number of manufacturers operating in the orthopedic surgical robots market is also projected to contribute to the growth of the orthopedic surgical robots market during the forecast period. Reimbursement for these orthopedic surgical robots across various regions is also one of the major factors contributing to the growth of the orthopedic surgical robots market.
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Patient-specific templates for orthopedic surgeries
The idea of patient-specific drilling and cutting templates was initially introduced in the early 90s by Radermacher. However, it has gained popularity over the past decade. This concept enables a 3D surgical plan to be implemented with the rapid manufacturing and designing of custom drilling and cutting templates. The idea for patient-specific templates was initially used for pedicle screw placement in spine surgeries, which used a computed tomography planning. The mating surfaces had to be clearly visible in computed tomography scans, and any areas having cartilage would not have appeared compatible because of the mating that was inevitable with the extra article cortical bone. The use of extra-articular bones required wide surgical access, which resulted in large incisions, and this was clinically unacceptable.
Recently introduced orthopedic surgery systems are circumvent to the requirement and enable the template to be directly applied to the surface of joints, which is further pushing less-invasive techniques. These orthopedic surgical systems incorporate the extremely basic principles of templates. For instance, ConforMIS, iFit/ iJig image-to-implant technology approach depends upon the computed tomography or magnetic resonance imaging scans. During a surgery, the surgeon removes any outstanding cartilage until the articular bone is visible for creating a correct mating surface. This particular approach is combined with a custom patient-specific resurfacing implant that can be bicompartmental or unicompartmental for a total knee arthroplasty. Thus, the availability of patient-specific templates has boosted the use surgical robots for orthopedic surgeries, and this has been contributing to growth in the demand for orthopedic surgical robots over the years.
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Orthopedic surgical robots have several advantages over conventional orthopedic surgical techniques, which include improved precision and accuracy for the preparation of bone surfaces. These systems provide greater spatial accuracy and give more reproducible and reliable outcomes. The ability to rigidly fix and isolate bones in known positions enable these surgical robots to be securely fixed to the bone. Orthopedic surgical robots are further segregated into orthopedic surgical robots system and disposables.
About the Report
PMR has conducted a research study on the orthopedic surgical robots market for the forecast period 2019 to 2029. The report offers a comprehensive evaluation of the business opportunities prevailing in the orthopedic surgical robots market, along with insights on the orthopedic surgical robots market value analysis base by region, market trends, pricing analysis based on product type, reimbursement scenario, timeline of major surgery robots, feature comparison by top brands, and consumer sentiment analysis. The orthopedic surgical robots market report elaborates on the macro-economic factors influencing the dynamics of the market and its futuristic potential.
Orthopedic Surgical Robots Market: Segmentation
The report on the orthopedic surgical robots market offers a comprehensive taxonomy of the orthopedic surgical robots market based on the product type, application, end use, and region. By product type, the orthopedic surgical robots market is segmented into orthopedic surgical robots systems and orthopedic surgical robots disposables. By application, the orthopedic surgical robots market is segmented into partial knee replacement, total knee replacement, MIS fusion, and other indications. By end-use segment, the orthopedic surgical robots market is segmented into hospitals, ambulatory surgical centers, and specialty clinics.
Additional Questions Answered
Some of the additional questions addressed in this report on the orthopedic surgical robots market are:
- What is the revenue potential of the orthopedic surgical robots market across the regions of North America and Europe?
- Who are the key competitors and what are their portfolios in the orthopedic surgical robots market?
- What are the major challenges influencing the growth of the orthopedic surgical robots market?
- How is the intervention of regulatory authorities shaping the growth of the orthopedic surgical robots market?