The global orthopedic surgical robots market will be valued at more than $4.1 billion by the end of 2029, according to a Persistence Market Research report.
Six takeaways from the report:
1. Analysts estimated that the market would grow at an average rate of 13 percent year over year from 2014 to 2029.
2. Orthopedic surgical robots could benefit patients by driving value-based outcomes and reducing costs linked to hospital stays, the report said.
3. Randomized trials are needed to establish the cost-effectiveness of orthopedic surgical robots in hospitals, according to PMR.
4. The orthopedic surgical robots market has long been dominated by Intuitive Surgical, but in recent years, competitors have launched products positioned to compete against Intuitive's da Vinci robotic surgical systems.
5. Competition and indications for these systems are expected to increase.
6. The adoption of orthopedic surgical robots will be hampered by a lack of surgeon skill, as well as high costs associated with the systems.
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