Surgical Robots Industry Trends

Surgical Robots Industry Data Book – Orthopedics and Non- Orthopedics Market

Surgical Robots Industry Data Book | Forecast 2030

Surgical Robots Industry Data Book – Orthopedics and Non- Orthopedics Market

Grand View Research’s surgical robots industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with a surgical robots statistics e-book.

Access the Global Surgical Robots Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Orthopedics Market Report Highlights

The global orthopedics market was valued at USD 805.7 million in 2022 and is anticipated to grow at a CAGR of 12.8% over the forecast period. The growth is attributed to the increasing prevalence of orthopedic conditions, such as degenerative bone disease, the growing geriatric population, and an increasing number of accidents. According to a study conducted by WHO, around 80% of the geriatric population lives in middle and low-income nations. This is anticipated to create a huge opportunity for key players in the market to expand their presence in emerging nations.

Moreover, the early onset of musculoskeletal problems, mostly caused by a sedentary lifestyle and obesity, is expected to drive market expansion. Musculoskeletal diseases affect around 1.71 billion people globally, according to the Global Burden of Disease in 2021. As a result, an increase in musculoskeletal problems is expected to drive the market over the forecast period. Additionally, growing awareness regarding the availability of innovative items is causing hospitals to improve their technology and services frequently. Furthermore, payment coverage for orthopedic therapies has contributed to the adoption of orthopedic procedures.

Order your copy of the Free Sample of “Surgical Robots Industry Data Book – Orthopedics and Non- Orthopedics Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

Non-Orthopedics Market Report Highlights

Non-Orthopedic applications of surgical robots include robots for neurology, cardiology, gynecology, urology, and others. The global non-orthopedic market was valued at USD 2.74 billion in 2022 and is anticipated to grow at a CAGR of 19.2% over the forecast period. The growth is attributed to the increasing prevalence of neurological disorders coupled with the rising number of road accidents causing brain injuries. According to the International Brain Injury Association, around one million traumatic brain injuries are treated in the United States every year. Additionally, around 80,000 patients are discharged from hospitals with traumatic brain injury disability.

Furthermore, technological advancements in the field of neurology, urology, and gynecology have eliminated direct human involvement in surgical operations. These devices are reducing the downsides of invasive procedures.  Data recorders, HD microscopic cameras, remote navigation systems, motion sensors, transducers, and robotic-controlled catheters are among the most recent advancements. The major market participants are investing much in R&D to develop technologically advanced medical devices. For example, Brain Scientific, Inc. will deliver the next-generation NeuroCap device in March 2021. It is an advanced EEG electrode array that is utilized in clinical and research settings to deliver quick EEGs whenever required. This is anticipated to drive market growth in the coming years.

Competitive Insights

Increasing demand for surgical robots is increasing competition in the market and, thus, forcing key players to introduce new products of different capabilities in the market. Additionally, it is projected that rising industry consolidation activities, such as acquisitions and mergers by the leading market participants, as well as increasing efforts in R&D of surgical robot applications by key players, are also expected to boost the market share. For instance, in May 2023, Medtronic Private Limited, a subsidiary of Medtronic plc, announced a partnership with AIIMS New Delhi to open a state-of-the-art surgical robot training center at AIIMS. This partnership is expected to provide training to surgeons regarding robotic-assisted surgery. This strategic initiative is anticipated to increase the awareness of Medtronic’s Hudo robotic-assisted surgery system among surgeons.