The spinal and orthopedic robotics market is developing at a rapid pace, with an increasing amount of hospitals investing in robotic arms and surgeons training in new technologies.
Here are five key notes on the future of robotics:
1. In terms of value, the global surgical robotics market generated $4.71billion in 2018 and is anticipated to hit $15.43 billion by 2029, according to an October Research And Markets report.
2. Medical professionals are warming to the idea of robotic arms assisting in, and even leading, surgeries. Medical device companies are working to enhance the safety, efficiency and machine learning in robots so that they become the new norm in operating rooms.
3. Robotics are expensive to acquire. Medtronic's Mazor X robot costs more than $1 million and Globus Medical's ExcelsiusGPS costs $1.5 million. The high cost ultimately increases the cost of care for patients. Device companies are working on robots that are cheaper so quality care, global fees and episodes of care can be performed and charged reasonably.
4. Stephen Hochschuler, MD, cofounder of the Texas Back Institute in Plano, believes robotics in orthopedics will continue its development to catch up with robotics in other industries. "I think with time it's going to be almost like what you see in car manufacturing; you have some amazing robots doing very complex tasks. It will take a while, but it will occur," he told Becker's in an August interview.
5. The Robotics and Automation Society recently noted that by expanding surgeons' ability to plan and perform procedures more accurately and less invasively, robotic arms can decrease costs, enhance clinical outcomes and improve overall healthcare efficiency.