The global Robotic – Assisted Hip Replacement Market is expected to grow unabated In Upcoming Years. The ongoing situation focuses on the reduction of costs by making use of data for better planning, operating the business, supporting team members, and developing proof-based care approaches. In other words operating models revolve around value-based care, which ought to help in compliance on the corporate level as well.
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There are various advantages that robotic-assisted surgery provide over the traditional method. These may include better control and accuracy achieved during cutting of the damaged tissues and reduce the inaccuracies by 94%. Also, robotic-assisted hip replacement has better outcomes like reduce faster recovery and less pain.
This growing population is more prone to arthritis and other bone diseases. Hence, the demand for minimally invasive robotic hip replacement will increase and will drive the market. Various technological advancements are happening to reduce the incision size and increase precision.
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These provide patient-specific 3D planning for hip joints and hence help surgeons to visualize the patient’s hip anatomy and prepare accordingly. This acts as a driver for the market. An increase in the number of new players in the market and R & D investment by the companies for developing new techniques and acquiring other companies is expected to increase demand for robotic-assisted hip replacement during the forecast period.
According to research, in the US during covid-19 approximately 3000 revision hip and knee replacement procedures were cancelled each week. Hence, COVID-19 harmed this market which has led to major financial losses for the hospitals and manufacturers.
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- Stryker
- Intuitive Surgical
- Think Surgical Inc.
- Johnson & Johnson Services Inc.
- Tinavi Medical Technologies Co.Ltd.
- Medtronic
- Zimmer Biomet
- Smith+Nephew
- Globus Medical
- NuVasive Inc.
- Wright Medical Group N.V
- Think Surgical Inc.
For instance, Stryker Corp. one of the biggest companies working to bring robot-assisted surgery acquired Mako Surgical.
The other region that is seeing growth is the Asia Pacific region. This is due to development in technologies and new players in the market. Also, there has been a surge in the prevalence of arthritis in this region.
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Key Segments:
By Application
- Partial hip replacement
- Total hip replacement
- Hip resurfacing
By Product Type
- Passive systems
- Semi-active systems
- Active systems
By Type of Technology
- MAKO
- CASPAR
- ROBODOC system
By End-User
- Hospital
- Orthopaedic speciality clinic
- Ambulatory Surgical centres
- Academic and research institute
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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