The global spinal surgical robots market is worth $26 million in 2018, according to a ResearchMoz report.
Here are five takeaways:
1. By 2022, the global spinal surgical robots market will likely hit $2.77 billion.
2. An aging population as well as cost savings due to shorter lengths of stay are boosting the market.
3. The report notes in 2015, 11 million people in the U.S. experienced chronic back pain. Sacroiliac joint dysfunction is the underlying cause of 30 percent to 35 percent of lower back pain.
4. The growing demand for minimally invasive spine surgeries is also driving the market, as surgeons opt for increased repeatability and accuracy in procedures.
5. Mazor Robotics dominates the market.