The study on the Global Spine Robotics Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Spine Robotics Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Spine Robotics industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Spine Robotics industry
The global spine robotics market size was USD 163 Million in 2022 and is expected to register a steady revenue CAGR of 12.60% during the forecast period, according to latest analysis by Emergen Research. Technological advancements in robotic and surgical technologies and rising prevalence of spinal disorders are major factors driving market revenue growth. The use of robotic guidance technology during spinal neurosurgery is known as robotic spine surgery, which is often referred to as robot-assisted spine surgery. Robots are capable of doing repetitive jobs for almost limitless lengths of time without experiencing performance degradation, which lowers the likelihood of errors brought on by weariness, which might improve patient outcomes. Robots can also increase the accuracy of procedures, such as those involving placement of rods or screws, by removing the issue of a surgeon’s hands being shaky, moving to precisely programmed positions. This will enable surgeons to make precise movements while operating in confined spaces and on patients with complex anatomical structures.
In addition, use of surgical robotic devices for spine surgery is expected to rise over the next decade as the benefits of these systems become more widely recognized. Robotic and navigated spine surgery is for surgeons who are already using these methods as well as for those who are just starting their research in the area.
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As well as new entrants in the Spine Robotics market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies in the global market report include Intuitive Surgical, Stryker., Medtronic., Smith+Nephew, Zimmer Biomet, Asensus Surgical US, Inc., Renishaw plc, Auris Health, Inc., Globus Medical, and Tinavi Medical Technologies Co., Ltd.
One of the report’s central components is the broad Spine Robotics market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
- The robotic system segment accounted for largest revenue share in the global spine robotics market in 2022. This is due to rising use of robotic equipment to help in surgical procedures, which has increased significantly during the last 10 years. The installation of pedicle screws, a typical necessity for stabilizing the spine during surgical operations, can be made easier with the use of a robot.
- The hospital segment is expected to register steadily fast revenue growth rate in the global spine robotics market during the forecast period. This is attributed to availability of cutting-edge medical facilities, skilled medical professionals, and strong investment capacity. The principal healthcare facilities where spinal procedures are carried out are hospitals. The need for spinal robotics in hospitals is primarily driven by rising prevalence of spine illnesses and aging population.
- On 10 October 2022, Remex Medical, a Taichung, Taiwan-based developer of cutting-edge navigation and robotics technology, and Captiva Spine, Inc. officially announced their long-term exclusive strategic relationship for spine navigation with the potential for future advancements in usable robotic solutions.
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The global Spine Robotics market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Spine Robotics sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global spine robotics market on the basis of product type, application, end-use, and region:
· Product Type Outlook (Revenue, USD Million; 2019-2032)
- Robotic System
- Instruments and Accessories
· Application Outlook (Revenue, USD Million; 2019-2032)
- Spinal Fusion
- Minimally Invasive Procedures
- Spinal Decompression
- Other Applications
· End-use Outlook (Revenue, USD Million; 2019-2032)
- Ambulatory Surgical Centers (ASCs)
Regional Bifurcation of the Spine Robotics Market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Radical Features of the Spine Robotics Market Report:
- The report encompasses Spine Robotics market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Spine Robotics industry
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