Report

Global AI in orthopedic surgery market is projected to witness a CAGR of 34.83% during the forecast period 2024-2031, growing from USD 251.2 million in 2023 to USD 2743.54 billion in 2031. Growth in the market is driven by factors such as increasing geriatric population, increasing number of orthopedics surgeries, growing adoption rate of AI-based technologies in healthcare settings, and growing demand for minimally invasive surgeries. Increasing budget of healthcare, growing investments by public and private organizations, government initiatives, and technological advancements are further accelerating the growth of global AI in orthopedic surgery market.
Also, global AI in orthopedic surgery market is undergoing significant growth due to the increasing number of orthopedics surgeries globally. Geriatric population is vulnerable to develop bone related health conditions, such as arthritis, fractures, joint pain, inflammation and deformities in spine, due to which, there is a growing demand for orthopedics surgeries. To increase efficiency and meet the growing demand of orthopedic surgeries AI is being integrated into surgical devices which plays an important role by assisting the surgeons during surgical procedures, leading to less time, improved decision making, faster recovery time and reduction in errors during surgeries.
In June 2023, TEDCO focused on bringing innovation in the AI-based surgical systems, announcing a seed funds investment of USD 500,000 to Galen Robotics, Inc. The main aim of the investment is to bring advancements and innovation in assistive technologies for surgeries. A growing number of microsurgical procedures require the assistance of surgical robotics, which is addressed by the novel Galen Platform. The platform improves surgical outcomes in small spaces and minimally invasive procedures by integrating with standard surgical instruments to improve stability and ergonomics.
Growing Volume of Orthopedic Surgeries
There has been a surge in demand for AI in orthopedic surgery due to the rising number of orthopedics surgeries such as total joint arthroplasty, total hip arthroplasty, and total knee arthroplasty. Rise in aging population and increased prevalence of musculoskeletal conditions, such as osteoarthritis, rheumatoid arthritis, along with increasing demand for minimally invasive surgeries are the factors contributing to the growth of orthopedic surgeries. According to the world's largest medical association of musculoskeletal specialists, "American Academy of Orthopaedic Surgeons (AAOS)", by the year 2050, the demand for orthopedic surgeon is going to increase tremendously due to increasing number of orthopedic surgeries such as total joint arthroplasty. It also states that, to meet the growing demand for surgeons, it will be crucial to increase the number of surgeons by 10% every five years. As the ratio of surgeons with respect to number of surgeries is very low, the demand for AI-based orthopedic surgery is expected to increase to reduce the burden on orthopedic surgeons.
Increasing Adoption of AI-Based Orthopedic Surgeries
With increased demand for AI-based orthopedic surgeries, there is a significant increase in adoption of AI-based orthopedic surgical software and hardware solutions by the key market players. The deployment and use of AI in orthopedic surgeries is expected to increase due to the increasing number of orthopedic surgeries and lack of orthopedic surgeons. Additionally, there has been a surge in investments on AI-based orthopedic surgeries, Brain and Company stated that investments in AI-based orthopedic surgeries have increased in recent years due to improved precision, efficient preoperative planning, and improved decision making with the help of AI-based navigation system during surgery.
Moreover, these solutions reduce the risk of complication during surgery and improve patient outcomes, due to which the global AI in orthopedic surgery market is flourishing. Several leading players, such as Intuitive, Stryker, and Zimmer Biomet are continuously involved in bringing innovative AI-based orthopedic surgery solutions, whereas, large companies, like Johnson & Johnson, are expanding their market in this industry through mergers & acquisitions and partnerships with the start-ups and medical device companies in this space.
Software Holds the Highest Share in AI Based Orthopedic Surgery Market
Amongst component type, software-based solutions dominate the overall market. AI based orthopedic software plays a pivotal role in orthopedic surgeries. Software is responsible for preoperative plannings, guides surgeons during surgery by providing real-time feedback, which reduces the chances of errors as well as possibilities of infection on the surgical site. These solutions improve instrument positioning that leads to enhanced surgical precision and increases overall efficiency in orthopedic surgeries. Due to it, key market players are developing AI based orthopedic software to fulfill its increasing demand in surgeries. In July 2023, Stryker, announced the launch of a highly efficient surgical planning and guidance software, named as "Ortho Q Guidance system", for various orthopedic surgeries such as hip and knee surgical procedures. The guiding system use a smart, streamlined platform to provide surgical planning and intraoperative guidance to improve knee and hip surgical procedures and increased speed and outcome of the surgery.
Knee Surgeries are Growing at a Rapid Rate
Rise in number of orthopedic surgeries in lower extremities such as partial knee replacement, total knee replacement and ligament surgeries, along with significant investments by key players in the segment is driving the demand for knee surgeries in AI based orthopedic surgeries. Moreover, several leading players are launching AI-based orthopedic surgery for lower extremity in their product portfolio. In October 2023, Johnson & Johnson MedTech launched the "VELYS Robotic-Assisted Solution" from DePuy Synthes for its European market. It is an innovative digital surgery platform specifically designed for total knee arthroplasty. With its launch, DePuy Synthes enhanced its digital surgery platform to manage the growing need of knee surgeries, which is difficult to treat by traditional methods. The supportive regulatory system and increased demand for knee surgeries, along with increasing research and development in this segment is further enabling growth in global AI in orthopedic surgery market.
North America Holds the Largest Share Globally
North America holds the maximum share in global AI in orthopedic surgery market, due to its robust healthcare infrastructure, availability of advanced technologies within healthcare facilities, and high adoption rate of AI-based technologies. The demand for AI based orthopedic surgery is accelerating to overcome the lack of surgeons and reduce the burden on existing surgeons in North America. In October 2023, PeekMed, which uses powerful AI-based pre-operative planning system for orthopedic surgery announced, establishment of a formal subsidiary known as "PeekMed LLC", in Warsaw, Indiana, United States. The new subsidiary will enable the company to expand its business within the United States and empower healthcare professionals with AI tools to improve healthcare facilities. Moreover, the presence of medical device and IT companies such as Intuitive Surgical Inc., Globus Medical, Inc., IBM Corporation, and Microsoft Corporation in North America further facilitates growth of the global AI in orthopedic surgery market.
Future Market Scenario (2024 - 2031F)
The global AI in orthopedic surgery market is expected to grow in the future, due to several factors. Primarily, the increasing number of orthopedic surgical procedures worldwide has increased the demand for AI in orthopedic surgery, and integration of AI in surgical procedures reduces the burden on surgeons and improves the surgical outcomes. Increasing adoption rate of AI based orthopedic surgeries globally, along with consistent and frequent product launches by key market players are propelling growth of this market. Government initiatives play a significant role in the integration of artificial intelligence (AI) in orthopedic surgery. These initiatives can support research, development, and implementation of AI technologies in healthcare. Moreover, collaborative ventures and the entry of new market players will drive growth over the forecast period.
Key Players Landscape and Outlook
AI based orthopedic surgeries play a crucial role in enhancing the quality and improving the success rate of the orthopedic surgeries. Several medical device companies aur IT companies are establishing strategic partnerships, and collaboration, which have led to growth of the global AI in orthopedic surgery market. These collaborations enable the firms to gain information regarding the market and latest technologies, enhance diversification and improve financial strength. Distribution agreements enable companies to access new markets and broaden their market presence at a global level. These collaborative initiatives contribute to the robust growth of global AI in orthopedic market. In July 2023, RCS England signed a three-year collaboration with Intuitive Inc., which is leading robotic-assisted surgery company, to form a new multi-professional network. The collaboration will help the company to integrate robotic-assisted surgery in the country's healthcare system and assist surgeons to become proficient in robotic-assisted surgeries.