Global Orthopedic Surgical Robots Market Size study & Forecast, by Application (Hip, Knee, Spine, Others), by End-Use (Inpatient, Outpatient) and Regional Analysis, 2023-2030

Global Orthopedic Surgical Robots Market Size study & Forecast, by Application (Hip, Knee, Spine, Others), by End-Use (Inpatient, Outpatient) and Regional Analysis, 2023-2030

Global Orthopedic Surgical Robots Market is valued approximately USD 703.12 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.70% over the forecast period 2023-2030. Orthopedic surgical robots are advanced technological systems designed to assist orthopedic surgeons in performing precise and minimally invasive surgeries. These robots are equipped with sophisticated imaging technology and robotic arms that can be controlled by the surgeon to execute delicate procedures with enhanced accuracy. Additionally, orthopedic surgical robots can help reduce surgical trauma, minimize tissue damage, and shorten recovery times compared to traditional surgical methods. They represent a significant advancement in the field of orthopedic surgery, offering a combination of precision, efficiency, and patient benefits. The Orthopedic Surgical Robots market is expanding because of factors such as increasing cases of knee and hip replacement surgeries, rising incidence of osteoarthritis and rising spending on healthcare technologies.

The rising incidence of osteoarthritis is a significant factor driving the growth of the orthopedic surgical robot’s market. Osteoarthritis, a degenerative joint disease characterized by the breakdown of cartilage in the joints, is becoming increasingly prevalent due to factors such as aging populations, sedentary lifestyles, and obesity. As the population ages and the prevalence of conditions like osteoarthritis continues to rise, there is a growing demand for orthopedic procedures, such as joint replacements, to alleviate pain and improve mobility. According to data published by WHO in July 2022, an estimated 1.71 billion people across the globe have musculoskeletal disorders, with 528 million people suffering from osteoarthritis. Moreover, according to Centers for Disease Control and Prevention, in year 2020, there were around 63 million people in US had diagnosed with arthritis which is expected to reach at 78 million by year 2045. Thus, rising incidence of osteoarthritis is driving the market growth. In addition, growing preference for minimally invasive surgical procedures and advancements in robotic technology are creating new opportunities for the market growth. However, the high cost of orthopedic surgical robots and concerns about efficacy and safety stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Orthopedic Surgical Robots Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing incidence of orthopedic conditions, rising technological advancements, favorable reimbursement policies and high healthcare spending in the region. Asia Pacific is expected to grow at a fastest rate during the forecast period. The orthopedic surgical robot market is poised for significant growth in the coming years, largely attributed to the robust GDP expansion anticipated, particularly driven by economic growth in China and Japan. Key to this growth are government-led initiatives aimed at incentivizing and facilitating the adoption of cutting-edge medical technologies, including orthopedic surgical robots. Moreover, market growth is further propelled by regulatory approvals from governmental agencies. A case in point is Beijing Tinavi Medical Technologies Co. Ltd.'s surgical robot receiving approval from China's National Medical Products Administration (NMPA) in July 2023. This approval enhances its capability to perform total knee replacement surgeries and expands its product range to encompass spine, trauma, and joint procedures within orthopedic surgery.

Major market player included in this report are:
Medrobotics Corporation
Medtronic Plc
Stryker Corporation
THINK Surgical, Inc.
Renishaw plc
Accuray Incorporated
Globus Medical
Auris Health Inc.
Johnson & Johnson Services Inc.
Nordson Corporation
OMNILife science Inc.

Recent Developments in the Market:
 In February 2024, THINK Surgical unveiled a strategic partnership with Maxx Orthopedics, integrating Maxx Orthopedic implants into the TMINITM Miniature Robotic system. This collaboration aims to establish an inclusive platform for orthopedic surgical robots, facilitating the support of various implants.
 In November 2023, Monogram Orthopaedics Inc. introduced its inaugural surgical robot to the global market, aiming to enhance orthopedic joint replacement surgery through state-of-the-art, next-generation robotic technology.

Global Orthopedic Surgical Robots Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Application, End-Use Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Hip
Knee
Spine
Others
By End-use:
Inpatient
Outpatient
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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