Description:
- Growing confidence in minimally invasive surgeries anticipated to lead to increasing demand for spine surgery robots.
- Extensive investments, R&D, regulatory approvals to translate into growth at outstanding 17.5% CAGR from 2018 – 2026
Spine Surgery Robots Market – Overview
According to published data, each year, more than 4.83 million spinal surgeries are performed worldwide, of which 1.34 million take place in the U.S. itself. To optimize the procedure and enhance surgeon performance, robot-assisted surgical procedure have been developed and increasingly being deployed world over. The increasing clinical evidence of success of robot-assisted spine surgery is leading to its increasing uptake for spinal surgeries. This, along with continued clinical trials to validate the use of robot-assisted spine surgery has led to the evolution of a multi-million dollar spine surgery robots market, which in the recent past, in 2018, was valued at US$ 75 Mn.
The first-ever robot-assisted spine surgery gained FDA approval in 2004. The emergence of robot-assisted spine surgery is associated with the need for a viable method which is less invasive and provides higher accuracy. Furthermore, robotic spine surgery provides real-time intraoperative navigation and rigid stereotaxy, with added benefits of increased accuracy, decreased exposure to radiation, decreased risk of complications, reduced operative time, and reduced recovery time.
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At present, the use of robot-assisted spine surgery is restricted to spinal fusion and instrumentation procedures, however, recent studies demonstrate its use for increasingly complex procedures such as vertebroplasties, spinal tumor resections and ablations, and deformity correction. Nonetheless, high initial costs and training for robots requires justification to commence their common use for spine surgeries.
Spine Surgery Robots Market – Key Findings of the Report
Growing Demand for Minimally Invasive Surgeries to Fuel Demand
At present, spine surgical robots are used for a handful minimally invasive procedures of the spine, including scoliosis correction, spinal biopsies, and vertebroplasty. Surgeons are rapidly adopting minimally invasive surgical methods for the treatment of spinal disorders. According to an October 2015 report of the Orthopedic Network News, an estimated 409,400 thoracic-lumbar fusion surgeries performed in the U.S. This suggests bright prospects of spine surgery robots market in the future.
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Besides this, increasing success rate of minimally invasive surgeries is resulting in uptick in demand for spine surgery robots. The robotic arm of the system is guided through a surgical plan based on the anatomy of a patient. The plan devised helps the spine surgery robots to perform the surgeries accurately and relieve the patient from a specific spinal disorder. Therefore, the growing adoption of robots to avoid errors during surgical procedures is serving to be a growth multiplier of spine surgery robots market.
U.S. to Present Significant Incremental Opportunities in the Future
Early adoption of spine surgery robots such as Mazor X is a predicted for the U.S. to account for significant revenue contribution to the spine surgery robots market. Furthermore, growing adoption of spine surgical robots by hospitals, R&D for new applications, and technological advancements are fuelling the spine surgery robots market in the U.S.
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High Gains Attract Participation to Eat Revenue Share of the Highly Consolidated Vendor Landscape
Two companies Mazor Robotics and Medtech hold more than 80% share in the spine surgery robots market for the vendor landscape to be highly consolidated. The high profit margins is increasingly attracting some other large players for next-gen healthcare technologies in the spine surgery robots market. For example, Stryker Corporation is experimenting with Mako System and Intuitive Surgical Inc. has expressed interest in da Vinci system. The clinical value evaluated of these technologies supports them to have the potential to be further developed and marked with greater success.
Spine Surgery Robots Market – Growth Drivers
- Growing confidence in minimally invasive surgeries from their increasing success rate underpins growth in spine surgery robots market.
- Extensive investments, R&D for development of robot-assisted spine surgery promising for spine surgery robots market.
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Spine Surgery Robots Market –Key Players
- Mazor Robotics
- Medtronic Plc
- Globus Medical Inc.
- TINAVI Medical Technologies Co. Ltd
- Intuitive Surgical Inc.
- Stryker
- Zimmer Biomet Holdings Inc.
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