Increase in Number of Orthopedic Surgeries Drive the Demand for Orthopedic Surgical Robots Market

The number of orthopedic-related surgeries is increasing as the prevalence of orthopedic disorders rises. The number of orthopedic surgeons would increase as the number of orthopedic surgeries increased. This would result in greater use of orthopedic surgical robots. It would increase the supply and production of orthopedic surgical robots. Surgical robots are already reshaping the healthcare industry. Outpatient centres will force down prices on medtech devices and cause changes for payers and providers as they capture a growing volume of surgical procedures. As a result, an increase in the number of orthopedic surgeries is expected to propel the global orthopedic surgical robots market.

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Data Bridge Market Research analyses that the orthopedic surgical robots market is expected to grow at a CAGR of 26.3% in the forecast period of 2023 to 2030 and is expected to reach USD 4865.63 million by 2022 and USD 31504.02 million by 2030.

Increased Adoption of Orthopedic Surgical Robots are expected to drive the market

Orthopedic surgical robot systems have been shown to improve surgical treatments in general. The adoption of orthopedic surgical robots, particularly in developed countries, has fueled market growth over the years. Orthopedic surgical robots are becoming more common in hospitals around the world, and they have gained widespread acceptance. The lower risk of infection associated with the use of disposables during procedures has also gained widespread acceptance. Another important factor driving the growth of the orthopedic surgical robots market is the availability of appropriate reimbursement policies for these orthopedic surgical robots in different countries.

Report Scope and Market Segmentation

Segment Analysis:

The global orthopedic surgical robots market is categorized into three notable segments based on product type, end user, and distribution channel.

• On the basis of product type, the global orthopedic surgical robots market is segmented into robotic system, robotic accessories, and software and services.

Robotic system segment is expected to dominate the global orthopedic surgical robots market

The robotic system segment is expected to dominate the global orthopedic surgical robots market and it is expected to reach USD 29072.82 million by 2030 due to the increased prevalence bone disease and its surgery.

• On the basis of end user, the global orthopedic surgical robots market is segmented into hospital, and ambulatory surgery centers (ASCS). The hospital segment is expected to dominate the global orthopedic surgical robots market and it is expected to reach USD 29072.82 million by 2030 due to the availability of advanced orthopedic surgical robots, rise in count of patients admitted in hospitals, undergoing hip and knee replacements and increase in disposable income.
• On the basis of distribution channel, the global orthopedic surgical robots market is segmented into direct tenders and third party distributors.

Direct tenders segment is expected to dominate the global orthopedic surgical robots market

The direct tenders segment is expected to dominate the global orthopedic surgical robots market and it is expected to reach USD 29072.82 million by 2030 due to the rise in contractual agreements between manufacturers and distributors for orthopedic surgical robots and equity in the tendering process.

Major Players

Data Bridge Market Research recognizes the following companies as the major orthopedic surgical robots market players in orthopedic surgical robots market are Johnson & Johnson Services, Inc. (U.S.), Stryker (U.S.), Zimmer Biomet (U.S.), Smith+Nephew (U.K.), Corin Group (U.K.), NuVasive, Inc. (U.S.), Brainlab AG (Germany), Integrity Implants Inc. d/b/a/ Accelus (U.S.), Beijing Tinavi Medical Technologies Co., Ltd (China), Medtronic (Ireland), Globus Medical, Inc. (U.S.), Accuray Incorporated (U.S.), THINK Surgical, Inc. (U.S.), CUREXO, INC. (South Korea) are among others

Market Development

• In February 2022, Stryker completed its acquisition of Vocera Communications. This acquisition opens up significant opportunities for us to advance innovations and accelerate our digital ambitions. Vocera brings to Stryker's Medical division a highly complementary and innovative portfolio that will enhance the company's Advanced Digital Healthcare offerings and advance Stryker's focus on preventing adverse events throughout the continuum of care.
• In March 2022, Corin Group announced a partnership with Efferent Health, LLC, a medical operations automation technology leader, to deliver innovative solutions that streamline key processes. This strengthens the company's portfolio of interoperability data services while also increasing its market credibility.
• In December 2020, Zimmer Biomet announced that the company had acquired the A&E Medical with a complete sternal closure devices portfolio. This acquisition results in growing the orthopedic implants portfolio leading to improved sales and demands for its product in the market, which will further upsurge its revenue in future.

Regional Analysis

Geographically, the countries covered in the orthopedic surgical robots market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in orthopedic surgical robots market during the forecast period 2023 - 2030

North America dominated the orthopedic surgical robots market due to increased sports and trauma injury in the country with significant spending in treating chronic bone disease.

Asia-Pacific is estimated to be the fastest-growing region in orthopedic surgical robots market the forecast period 2023 - 2030

Asia-Pacific is expected to grow during the forecast period due to the increasing demand for surgeries.

COVID-19 Impact on Orthopedic surgical robots Market

COVID-19 significantly impacted the orthopedic surgical robots market because almost every country chose to shut down all production facilities except those involved in the production of essential goods. The only businesses dealing with this pandemic are those permitted to open and run processes. The global orthopedic surgical robots market is growing due to the increasing prevalence of osteoporosis. This sector has increased demand because it targets patients who have bone-related diseases. Other factors driving demand for these procedures include an ageing population and increased demand for healthcare facilities, which can reduce the burden on healthcare facilities. As a result, an increase in demand for surgical robot procedures is expected during the forecast period.

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