America established with major share and growth in the Spinal Surgical Robots Market
America is the foremost region for Spinal Surgical robots market since 2015, and is anticipated to remain dominant throughout the forecast period. Asia-Pacific region is witnessed to be the fastest growing region. American market is anticipated to grow at a CAGR of 14.2% to reach revenue of $247.23 million by 2023. The American region is the dominant market, due to its growing technological progressions, need for better surgical accuracy, to enhance the patient safety and to reduce surgical time. The Robotic Spine Surgery Market for Asia-Pacific consists of $42.8 million in 2017 and is estimated to grow with a CAGR of 15.7% during the forecast period of 2018-2023 to reach $102.13 million by 2023. Major revenue is expected to come from Japan and is forecast to grow at a CAGR of 15% during 2018 to 2023.
Selected Surgery Type Analysis done in the full Report:
Spinal surgery is one of the major and difficult surgeries that have to deal with highly sophisticated part of human central nervous system. In accordance to surgery, the market is segmented into open surgery and minimally invasive surgery. Robotic Spine is being adopted by Minimally Invasive Surgery (MIS) which is leading in the market. Its market is set to dominate during the entire forecast period growing at CAGR of 14.22% to reach revenue from $338.65 million by 2023 from $116.8 million in 2017. MIS surgery is dominating for its operations like laminectomy, spinal fusion, foraminotomy, discectomy, interlaminar implant and so on. Open surgery robots market is the next surgery segment type, which is expected to grow at a CAGR of 11.1% to reach revenue of $127.66 million by 2023. Open surgical method is used to recover in cases such as slow growing spinal tumours. This type of surgery is used for longer recovery time and postoperative pain. The major advantage of these surgery tools is its three dimensional view of the interior and critically infected areas that helps operational time significantly and critical situations can also be handled.
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Excerpts on Market Growth Factors:
3D visualization and camera based surgical models that have given accuracy and safety in the surgical procedures is the key driver for spinal surgical robots market.
Rising popularity of chronic back pain and possible treatment through surgical robots have increased the effectiveness of existing surgical procedures and is the growth factor for robotic spinal surgery market.
Increasing aging population and growing incidence of spinal prone disorders like herniated discs, VCFs, spondylolisthesis, prolapsed intervertebral disc, and spinal stenosis are factors for which the market is evolving rapidly.
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Key players of the Spinal Surgical Robots Market:
Intuitive Surgical, Mazor Robotics ltd., and Stryker Corporation are the key companies to contribute towards this market. Intuitive Surgical has products such as da Vinci Xi® Surgical System, da Vinci® Surgical System and da Vinci® Si system with different operational function. Stryker Corporation has its multiple products and services such as Cervical, Thoracolumbar, Interventional Spine, Minimally Invasive Spine Surgery, Interbody/Vertebral Body Replacement, and Spine Navigation Surgery. Few of the other companies are offering instruments and equipment required in the surgery process.
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