Spine Surgery Robots Market to be Worth $525.3 Million By 2031: Transparency Market Research

The global Spine Surgery Robots market is estimated to attain a valuation of US$ 525.3 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 14% during the forecast period, 2023-2031.

The central goal of the TMR report is to provide an all-encompassing evaluation of the worldwide market, encompassing key prominent players within the Spine Surgery Robots sector. The assessment presents a clear portrayal of the market's historical and present standing, coupled with anticipated market dimensions and emerging trends, all conveyed in a straightforward manner. Moreover, the report furnishes comprehensive data encompassing market volume, share, revenue, production, and sales.

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The TMR report is the outcome of a comprehensive exploration facilitated by an array of methodologies, including PESTEL, PORTER, and SWOT analyses. By employing these models, the study casts light on pivotal financial considerations that Spine Surgery Robots market participants should prioritize. These insights aid in identifying competition and molding marketing strategies for both consumer and industrial sectors. The report seamlessly integrates a diverse range of research methods, encompassing surveys, interviews, and social media analysis, to provide a holistic understanding of consumer behaviors.

Rise in Demand for Minimally Invasive Surgery to Drive the Market

Spine surgical robots are widely used for minimally invasive procedures such as scoliosis correction surgery, vertebroplasty, spinal biopsies, and others. Surgeons have rapidly adopted minimally invasive surgical (MIS) techniques for a wide range of applications. The number of spine surgery cases is projected to increase during the forecast period. According to a Orthopedic Network News report, in October 2015, an estimated 409,400 thoracic-lumbar fusion surgeries were performed in the U.S. in 2015. These surgeries are the standard of care in several common spinal pathologies.

Companies Expanding Their Presence through Mergers & Acquisitions and CE Marking

Technological advancements, new product launches, and increase in purchasing power of hospitals and other health care settings are anticipated to propel the spine surgery robots market during the forecast period. In August 2017, Globus Medical acquired the Swiss firm KB Medical, a developer of the robotic AQrate system for spine surgeries. Brainlab has presented a prototype of an electro-mechanical surgical support arm in some of the major spine conferences in 2017. In 2017, Globus Medical Inc. received FDA clearance for the Excelsius GPS system, which was acquired from Excelsius Surgical LLC in 2014.

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Significant Incremental Opportunity in the U.S.

Based on geography, the global market has been categorized into North America, Europe, Asia Pacific, and Rest of the World. In terms of revenue, the U.S. is likely to continue to dominate the global spine surgery robots market during the forecast period, owing to early adoption of technologies such as the Mazor X and rise in the aging population. It is projected to be a highly attractive country of the spine surgical robots market, with a high attractiveness index. The market in the U.S is expected to expand at a CAGR of 18.0% during the forecast period. Increase in the adoption of spine surgical robots by hospitals, technological advancements, rise in research & development of spine surgical robots for new applications, and rise in demand for rapid and safe minimally invasive surgery procedures are likely to drive the spine surgery robots market in U.S.

Significant figures shaping the Spine Surgery Robots market landscape consist of the following names:

Medtronic plc
Zimmer Biomet
Globus Medical, Inc.
TINAVI Medical Technologies Co., Ltd.
Point Robotics MedTech, Inc.
NuVasive, Inc.
Brainlab AG
Curexo, Inc.
Accelus, Inc.
Synaptive Medical

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The study reveals and comprehensively explores various insights, comprising:

Which areas are anticipated to lose market share due to pricing pressures?
Which regions are expected to witness expansion by industry leaders in the near future?
What sustainability trends are influencing logistics and supply chain dynamics in the Spine Surgery Robots market?
What demographic and economic conditions are driving new demand in developing economies?
How are evolving government regulations shaping business strategies and operations?

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About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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