$3B surgical robot market to soar over 10 years

Spinal Tech

The global surgical robot market has hit $3 billion and is expected to grow in the next decade, especially in othopedics and neurosurgery, according to a report from Bain & Company

"Orthopedics and neurosurgery benefit from technology and trainings that are already happening with medical residents," Bain & Partner Company partner Mayuri Shah said in a Feb. 10 news relese. "With the technology and training accessible for many of these specialties, such as spinal surgeries, usage is bound to accelerate significantly in the near future. In addition to increased trainings, OEMs can leverage existing surgical robotic platforms where there is familiarity and usage for new surgeries and specialties."

Surgical robot manufacturers who want to capitalize on growth should prioritize costs and accessibility for healthcare facilities, tailoring to the needs of different settings, understand the needs of decsion makers and hone in on specialized platforms, the release said.

Spine and orthopedic medtech companies have already set their sights on growing their robotic offerings. For instance, Zimmer Biomet and Stryker are working on shoulder applications for their flagship joint replacement robots. Executives from both companies said they were confident in launching that by the end of 2024.

Stryker is also working on a spine application for its Mako robot, pushing it into the field with leaders such as Medtronic's Mazor platform and Globus Medical's ExcelsiusGPS platform. 

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