Global Orthopedic Surgical Robots Market to Reach $3.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Orthopedic Surgical Robots estimated at US$308.4 Million in the year 2020, is projected to reach a revised size of US$3.5 Billion by 2027, growing at aCAGR of 41.2% over the period 2020-2027. Knee Surgery, one of the segments analyzed in the report, is projected to record 40.5% CAGR and reach US$2.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hip Surgery segment is readjusted to a revised 43.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $93.4 Million, While China is Forecast to Grow at 39% CAGR
The Orthopedic Surgical Robots market in the U.S. is estimated at US$93.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$551 Million by the year 2027 trailing a CAGR of 39% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 37.3% and 35.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 28.2% CAGR.We bring years of research experience to this 9th edition of our report. The 109-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Johnson & Johnson
- OMNI life science, Inc.
- Smith & Nephew PLC
- Stryker Corporation
- THINK Surgical, Inc.
- Wright Medical Technology, Inc.
- Zimmer Biomet Holdings, Inc.