After seeing a downturn over the previous few years resulting from COVID-19, the orthopedics gadgets market is about to return to pre-pandemic ranges this 12 months.

The market is anticipated to succeed in ~$50B in 2023, in keeping with analytics agency GlobalData.

COVID-19 in addition to well being insurer reimbursement insurance policies are shifting extra orthopedics surgical procedures out of hospitals and into outpatient settings, similar to ambulatory surgical facilities (ASCs).

This might profit firms similar to HCA Healthcare (NYSE:HCA), Group Well being Methods (CYH), Common Well being Providers (UHS), and Tenet Healthcare (THC) which all function ambulatory care amenities.

Tina Deng, principal medical gadgets analyst at GlobalData, stated that extra orthopedics surgical procedures — particularly complete joint replacements — are taking place in outpatient or ASCs to maintain extra hospital beds open. She added that the Facilities for Medicare & Medicaid Providers is requiring that fewer procedures be performed on an inpatient foundation.

As a result of ASCs are smaller amenities in comparison with hospitals with smaller working areas, orthopedic gadgets are being developed with this in thoughts, in addition to remote-control capabilities.

Deng famous that Stryker (NYSE:SYK) is a frontrunner on this space because it launched an ASC-specific enterprise again in 2020.

DePuy Synthes, the orthopedics division of Johnson & Johnson (NYSE:JNJ), is one other firm to regulate given their lengthy experience within the space and their expertise working with ASCs.

The GlobalData report additionally highlighted robot-assisted surgical procedures as rising this 12 months. They’re utilized in surgical procedures together with partial knee alternative, complete knee alternative, and complete hip alternative, offering extra constant and correct outcomes.

Deng stated that whereas the overall surgical procedure robotics market is essentially dominated by Intuitive Surgical (ISRG), producer of the da Vinci surgical system, main orthopedics makers are vying for a slice of the robotics market.

Firms on this house embody Zimmer Biomet Holdings (ZBH), Medtronic (NYSE:MDT), and Smith & Nephew (SNN).

In its Q3 2022 earnings name in November 2022, Zimmer Biomet (ZBH) stated that 30% of its robotics are going into ASCs. The corporate added that ~60% of reconstructive procedures might be performed in ASCs by 2028.

GlobalData tasks that the orthopedic robotic surgical techniques market shall be $984M worldwide in 2023 with annual development of 25.6%.

Synthetic intelligence and machine studying are additionally anticipated to enhance outcomes offered by orthopedic robots. In July 2022, Zimmer Biomet (ZBH) introduced a partnership with New York’s Hospital for Particular Surgical procedure to develop a middle for innovation in AI in robotic joint alternative.