Surgical robots market for hip & knee procedures projected to reach $4.5B by 2022: 4 insights

Written by Jessica Kim Cohen | January 19, 2017 | Print  |

The orthopedic surgical robots market for hip and knee procedures is projected to more than double through 2022, according to a Radiant Insights report.

Here's what you need to know:

 

1. The global hip and knee orthopedic surgical robots market, which was valued at $83 million in 2015, is expected to reach $4.5 billion by 2022.

 

2. This growth is driven by new robotic devices and systems along with a rising geriatric population, which is increasing demand for joint surgeries, particularly noteworthy in the United States.

 

3. A key barrier to growth is decreasing insurance payments, which encourages hospitals to cut costs.

 

4. Major market players include Stryker, Smith & Nephew and Johnson & Johnson.

 

More articles on orthopedics:
Orthopedic procedures see up to 43% direct cost savings in ASC setting: 3 study insights
How are TJR patients in US & Switzerland different? 5 study insights
AAOS receives continuing medical education accreditation with commendation: 3 takeaways

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