The orthopaedic medical robots market is estimated to grow with a CAGR of 24.1 per cent from 2018-2025, reports a new market research study titled ‘Orthopaedic Medical Robots Market to 2025 – Global Analysis and Forecasts’ by Research and Markets. The market is expected to reach US$ 2,110.69 Mn in 2025 from US$ 375.49 in 2017, the report reveals.
According to the Research and Markets report, the orthopaedic 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 orthopaedic 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 orthopaedic medical robots market as per the product the segment is segmented as systems and instruments and accessories. The market of instruments and accessories has the highest market share in 2017, contributing to orthopaedic medical robots market is of 60.7 per cent and is expected to retain its dominance during the forecast period from 2018 to 2025. The rise in demand by the aging population for the hip and knee replacement is likely to propel the growth of the medical robotic systems market. Similarly, the systems segment contributed 39.3 per cent of the market share in the year 2017 and is expected to be the fastest growing market in the coming forecast period.
The anatomy segment of the orthopaedic medical robots market includes upper extremities, lower extremities, and others. The anatomy segment for the orthopaedic medical robots market was valued at US$ 375.49 Mn in 2017 and is estimated to reach US$ 2,110.69 Mn by 2025.
The upper extremity segment was further divided into the sub-segments such as shoulder, wrist, hand, and elbow. Similarly, lower extremity segment was also sub-segmented as knee, hip, foot and ankle and others. The lower extremities segments is the fastest growing segment in the anatomy and is expected to be the fastest growing segment in the forecast period owing to the increase in the knee surgery, trauma surgery, and hip surgery among the others. Among the lower extremity the knee segment holds the largest market in the anatomy segments likewise, shoulder is the largest market share holder in for the upper extremity market among the anatomy segment.
Some of the major primary and secondary sources included in the report orthopaedic medical robots market are: The American Society of Orthopaedic Surgeons, BioHealth Diagnostic Center, Canadian Agency for Drugs and Technologies in Health, International Conference on Advanced Robotics and Mechatronics, Indian Institute of Technology Madras, Ruby Clinic and Group Companies, are World Health Organisation.