LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global orthopedic surgical robots market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Bharath Kanniappan, a lead analyst from Technavio, specializing in research on the robotics sector says, “The global orthopedic surgical robots market is expected to grow at a consistently high rate of close to 47% during the forecast period, as the need for surgeries is expected to increase in the aging population across the globe suffering from deteriorated joints and musculoskeletal disorders such as osteoarthritis and degenerative hip disease. Hip and knee replacements are among the most common orthopedic implants, which will drive the orthopedic surgical robots market.”
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- Increase in MIS procedures in orthopedics
- Marketing initiatives to increase adoption of robot-assisted surgeries
- Increase in strategic collaborations to develop advanced robotic platforms
MIS procedures in orthopedics
Minimal invasive surgeries (MIS) are becoming a preferred procedure in the field of orthopedics. This technique is proving to be advantageous for the reconstruction of fractured bones, joint replacement, and realignment of bone extremities. As these surgeries reduce the risk of complications, pain, and recovery times, there is an increase in preference for such surgeries. Arthroscopy is among the most common MIS procedures. As the market gains traction, minimally invasive spinal surgeries for stabilizing spinal joints and vertebral discs will gain traction.
“Vendors in the market are expected to capitalize on the preference for MIS procedures by investing in R&D and offering products such as orthopedic surgical robots, which will contribute to the growth of the burgeoning market,” says Bharath.
Marketing initiatives to increase adoption of robot-assisted surgeries
A major challenge for the growth of the market is the low awareness about the products, along with insufficient clinical evidence to support the case for surgical robots in orthopedic surgeries. To ensure an increase in market penetration, vendors are making consistent efforts to form partnerships with hospitals to market their products. They are specifically targeting hospitals and ASCs that offer specialized programs in the field of orthopedics and have surgeons and staff with an interest in investing in improving orthopedic care.
Vendors are also investing in training personnel to help them capitalize on cross-selling and upselling opportunities. As the market gains traction, sustained marketing efforts will increase the adoption of surgical robots in ASCs and specialized hospitals.
Increase in strategic collaborations to develop advanced robotic platforms
Companies interested in offering surgical robots are increasingly resorting to strategic collaborations with other companies, which offer unique surgical technology features to capitalize on their synergistic capabilities. This can increase the market value of those products as well as increase the market share of the companies, besides ensuring that superiority is achieved in terms of R&D, sales, and marketing.
For instance, in October 2015, Smith & Nephew acquired Blue Belt Holdings to secure its position in the burgeoning orthopedic surgical robots market. As the orthopedic surgery market is complex and has tremendous growth potential, Smith & Nephew can capitalize on the capabilities of Blue Belt Holdings to improve its presence in the market.
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