The global orthopedic medical robots market is expected to reach US$ 2,110.69 Mn in 2025 from US$ 375.49 in 2017. The market is estimated to grow with a CAGR of 24.1% from 2018-2025.
The growth of the orthopedic medical robots market is determined due to the rise in the number of musculoskeletal disease. Musculoskeletal conditions comprise of over 150 diagnoses that affect the locomotor system of the muscles, bones, joints, tendons and ligaments. These disorders range from the ones that arise suddenly and are short-lived such as fractures, sprains and strains to lifelong conditions associated with disability and ongoing pain.
According to the 2018 factsheet by World Health Organization, musculoskeletal conditions are the second largest contributor to disability worldwide, with low back pain being the single leading cause of disability globally. Moreover, according to the Global Burden of Diseases (GBD), the impact of musculoskeletal diseases (MSD) highlighted significant burden and were reported to be second largest cause of disability associated burden in its 2016 study report. In addition, the WHO also reports that between 20%–33% of people across the globe live with a painful musculoskeletal condition. Musculoskeletal diseases are one of the most common causes of severe and long-term pain as well as physical disability in the US.
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The increasing number of musculoskeletal diseases are directly responsible for the increasing number of orthopedic surgical procedures across the world. According to the 2017 report of the American Joint Replacement Surgery, approximately 860,080 hip and knee replacement procedures by 4,755 surgeons were performed in 654 medical institutions in the US. Thus considering the facts and figure the market of the orthopedic medical robots are likely to propel the growth of the market.
The major players operating in the orthopedic medical robots market include Smith & Nephew, Stryker, Medtronic, Intuitive Surgical, Ekso Bionics, Zimmer Biomet, Wright Medical Group N.V., General Electric, THINK Surgical and OMNI among others.
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Nikhil has always had a keen interest in reading and writing. Though an Engineering graduate, He forayed into the field of writing due to her love for words and the urge to do something different. Insight Partners has given her the chance to gain knowledge about different subjects. He aspires to make each of her written works a piece of art.
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Nikhil has always had a keen interest in reading and writing. Though a Engineering graduate, He forayed into the field of writing due to his love for words and the urge to do something different. The Insight Partners has given his the chance to gain knowledge about different subjects. He aspires to make each of his written works a piece of art.