The increasing product launches and approvals are expected to drive the market growth over the forecast period.
For instance, in July 2018, Restoration Robotics, Inc., a privately held medical device company, launched ARTAS iX Robotic Hair Restoration System. This system is unique robotic intelligence solution that provides minimally invasive, repeatable harvesting, precise, and implantation features in one platform.
The increasing adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions by key players in order to strengthen their position in the global market is expected to drive the market growth over the forecast period.
For instance, in September 2019, Globus Medical Inc., a publicly traded medical device company, acquired most of the assets of StelKast Inc., a privately held orthopedics manufacturer company. This acquisition is expected to expand the product portfolio of Globus into total joint and arthroplasty markets.
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