The healthcare sector in India has evolved a great deal over the last couple of decades. This fast development has led to an impressive growth in the medical devices industry. Orthopaedic devices contribute to a major part of the medical devices industry and it plays a crucial role in providing pain relief, improving mobility, and enhancing the quality of life of the patients suffering from musculoskeletal disorders.
Further, osteoarthritis has emerged as the most prevalent form of arthritis in India, affecting over 15 million adults every year. It has been feared that India may become the ‘osteoarthritis capital’ of the world with over 60 million cases by 2025. Thus, futuristic orthopaedic devices will have a significant role to play in the time to come.
According to a research report by Global Market Insights Inc., the global orthopaedics devices market is expected to reach US $ 53 billion by 2024. The Indian market for orthopaedic devices is expected to grow 20% every year to hit Rs. 16,000 crore by the year 2030.
India has emerged as a prominent hub for orthopaedic surgeries in recent years especially in the field of joint replacement. The exponential advancement in joint replacement technology is enabling doctors to provide mobility to patients immediately after the surgery, and patients can comfortably walk out the same day. Also, the effective adoption and application of robotics and Artificial Intelligence (AI) are generating unprecedented opportunities in the orthopaedic procedures.
Though, the cost factor remains the major drawback in the robotic orthopaedic surgeries, companies across the world are working towards bringing down the cost of orthopaedic surgical robots and increasing accuracy of the procedures. Experts believe that it will not take more than two years for the AI based robotic systems to claim a lion’s share in orthopaedic surgeries.
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