Market Analysis: Global Orthopedic Surgical Robotic Devices Market
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.
Market Definition: Global Orthopedic Surgical Robotic Devices Market
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.
- 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
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 End-User
- Ambulatory Surgical Centers
- Specialty Clinics
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
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.
Competitive Analysis: Global Orthopedic Surgical Robotic Devices Market
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.
Key Market Competitors: Global Orthopedic Surgical Robotic Devices Market
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.
Research Methodology: Global Orthopedic Surgical Robotic Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report:
- Current and future of global orthopedic surgical robotic devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)