The spine surgery robots market comprises products used to assist and automate various spine surgeries. Some key robotic products available are image-guided robotic surgical systems, surgical navigation systems, and robotic surgical planners and simulators. Robotic technologies offer several advantages over conventional open surgeries like higher precision, smaller incisions, less blood loss, faster recovery, and shorter hospital stays. The growing prevalence of spinal disorders like degenerative disc disease and spinal stenosis has increased the demand for minimally invasive spine surgeries globally.
The Global Spine Surgery Robots Market Demand is estimated to be valued at US$ 223.8 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the spine surgery robots are Intuitive Surgical Operations, Inc., Medtronic, Zimmer Biomet, Stryker, NuVasive, Renishaw, CoreLink Surgical, Titan Medical, Synaptive Medical, Curexo Technology Corporation, TransEnterix, THINK Surgical, Accuray, OMNI, Medacta, Globus Medical, Homedics, and Glanbia PLC. Intuitive Surgical Operations dominates the market with its flagship product da Vinci Surgical System used in a majority of robot-assisted spine surgeries globally.
The growing demand for minimally invasive surgeries and rising geriatric population suffering from various spinal disorders are major factors driving the spine surgery robots market growth. According to the United Nations, over 17% of the global population will be aged 65+ by 2050 increasing the risk of spine conditions exponentially.
The expansion of healthcare infrastructure and increasing healthcare investments worldwide are enabling the global expansion of spine surgery robots adoption. Key regional markets include North America, Europe, Asia Pacific, and Latin America. Growing medical tourism in countries like India and China due to availability of affordable robotic surgeries is boosting the APAC spine surgery robots market.
Market key trends
One of the major trends driving the spine surgery robots market growth is increasing investments by manufacturers in developing robots integrated with augmented reality (AR) and artificial intelligence (AI) technologies. AR features allow pre-surgical planning and simulation that can help surgeons navigate complex cases more efficiently. AI-powered bots are capable of automating routine surgical tasks like bone resection, disc removal, and implant positioning with higher accuracy. This helps reduce surgical time and risk of errors for the benefit of patients and surgeons. AR/AI integration is expected to transform the spine surgery robots market over the next decade.
Porter’s Analysis
Threat of new entrants: High capital requirements and expertise needed for spine surgery robots limit new entrants in this market.
Bargaining power of buyers: Buyers have moderate bargaining power as there are number of options available in the market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are established players in the market supplying key components.
Threat of new substitutes: Low threat of substitution as spine surgery robots provide high precision and redues post-operative risks.
Competitive rivalry: Intense competition exists among major players to gain higher market share through technological advancements.
Geographical Regions
North America region dominates the global spine surgery robots market in terms of value owing to growing ageing population, rising incidence of spinal disorders and technological advancements. The U.S. holds the largest share in the region due to availability of reimbursements and presence of major players.
Asia Pacific region is expected to witness the fastest growth over the forecast period. Increasing healthcare expenditure, medical tourism and focus of players to tap opportunities in emerging countries are propelling the growth of spine surgery robots market in Asia Pacific region. China and India are expected to offer lucrative opportunities for market players in the coming years.
Geographical Regions
Europe accounts for a significant share in the global spine surgery robots market. High healthcare standards and availability of technologically advanced products drive the market growth in the region. Germany, U.K., France and Italy contribute significantly to the European market.
RoW is projected to exhibit moderate growth during the forecast period. Latin American countries offer untapped opportunities for spine surgery robots manufactures. Middle East is also emerging as a potential market owing to improving healthcare infrastructure and rising healthcare expenditure.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it