Press release
Orthopedic Medical Robots Market to US$ 2,110.69 million by 2025
Orthopedic medical robots refer to the robotic systems and equipment used in medical institutions to aid physicians in an orthopedic surgery as well as post-surgical care and rehabilitation. Moreover, the automated guided vehicles also serve as lifting aids during surgical and assistive care procedures.In the report the orthopedic medical robots market, the 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.
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The orthopedic medical robots market is driven by the driving factor such as increase in the number of musculoskeletal diseases, rise in funds allocated for medical robots research and technological advancements in orthopedic surgical robots. However, the market is likely face the restraining factors such as high cost of robotic systems and safety concerns associated with the robotic devices market. The future trend that is likely to drive the market growth is rise in number of strategic collaborations and joint ventures to develop novel robotic systems.
The top 10 industry players operating in the market of orthopedic medical robots across the globe includes Smith & Nephew, Stryker, Medtronic, intuitive Surgical, Ekso Bionics, Zimmer Biomet, Wright Medical Group N.V., General Electric, THINK Surgical and OMNI among others.
The application segment of the orthopedic medical robots market is segmented as into surgery, rehabilitation and others. In 2017, surgery segment held the largest share of 53.2% of the market. In addition, the segment is expected to dominate during the coming years owing to the acceptance of the medical robotic technology becomes widely accepted worldwide. Also the benefits offered by robotic assisted surgery such as outweighing of long term costs and advances in the surgical robots making them smaller, less expensive, and easier to operate are likely to be the promoting factors for growth of surgical segment in the global market scenario. The overall application segment market was valued at US$ 375.49 Mn in 2017 and is anticipated to grow significantly in the forecast period.
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