Surgical Robotics Market was US$ 4.65 Billion in 2022
Global Surgical Robots Market Analysis
Surgical Robots Market is set to surpass US$ 11.85 billion by 2032, rising from US$ 7.05 billion in 2023. It will grow at a CAGR of 5.95% during 2024 to 2032, driven by technological advancements in robotic-assisted surgery and increasing adoption worldwide.
Global Surgical Robots Market Analysis
Surgical robots are complex technology systems that support the surgeon during the process of surgery. These are robots with mechanical arms to be controlled by the surgeons through computer consoles. It is used to carry a precise, minimally invasive surgical procedure that produces higher accuracy and shorter recovery time from the patient.Surgical robots are adopted in numerous specialties including urologic surgery, gynecologic surgery, orthopedic surgery, and general surgery. In urology surgery besides the surgeon, robots help in the prostatectomy operations where body components are differentiated with more precision avoiding damages. Laparoscopes are used by gynecologists on operations such as hysterectomies because they reduce the amount of scarring that occurs and the time taken to patch up. Orthopedic surgeons use robots in joint replacement surgery in order to provide a superior surgical result and precise alignment of the implants.
Key benefits include:
1. Smaller incisions.2. Reduced pain and trauma.
3. Shorter hospital stays.
4. Patients tend to recover more quickly compared to traditional open surgeries.
Thus, the use of surgical robots remains high due to efficiency and outcomes offered despite initial costs and training needs.
Driving forces for the Surgical Robots Market
Technological Advancements
New technologies such as robotics, artificial intelligence, and miniaturization have profoundly impacted the field of surgery. The use of these technologies makes it possible to be more tentative, flexible, and improved maneuverability within the context of narrow human body environment. In surgery, real-time imaging, 3D visualizations, and robotic arms are used with the ability to maneuver as delicate as required without bringing a lot of aggression into the play. This makes the surgical robots to be in demand since the advancement in the technologies enhances the surgical operations by minimizing operations complications and shortening the recovery period.Rising Demand for Minimally Invasive Surgeries
Higher adoption of minimally invasive surgeries amplifies the growth of the surgical robot in the different specialties. These technologies use considerably less pain in the attempts following the operation, have speedier recovery, and shorter periods of hospitalization in general, which change modern medical facilities by enhancing person results and recuperating experiences.Increasing Aging Population and Chronic Diseases
The growth in the elderly population across the world coupled with the prevalence of ailments that require complex and effective treatments fuels the need for enhanced techniques in medicine. This demand is met by surgical robots since they provide solutions for highly specialized surgeries common with elderly patients with cultivating diseases. It enables the surgeons to avert some difficulties in a better way to provide safer surgical operations and enhanced results for cancer patients, cardiovascular disorders, and orthopedic problems. Consequently, demographic factors and diseases’ distributions help in explaining the infinite growth in surgical robot demands.Asia Pacific Surgical Robots Market
The Asia Pacific surgical robots market is growing at a faster pace due to the ongoing technological improvements, the growth in the overall health care spending, and integration of minimal invasive surgeries in Asia Pacific. This expansion is promote by countries of Asia such as Japan, south Korea, China and India.China contributes to the largest share owning to the large population base and growing healthcare facilities. The government launched healthcare reforms aimed at enhancing patients’ access to high-quality medical services; due to such measures, the demand for surgical robots is growing in large cities and advanced healthcare facilities.
Japan has well-developed healthcare that plays emphasis on the usage of technology than any other country in the world. The country has invested huge capital in robotic surgery platforms occasioned by the increased need for precision and efficiency in processes such as surgeries.
Such industries as electronics and robotics have developed and thrived in South Korea, which has dictated a strong surge into the use of surgical robots. The demand for robotic systems is rising in the country’s hospitals to perform several operations, thus driving the market.
Surgical robots are gradually being demanded in India because of the increasing middle-income population group, people’s awareness of health care, and investment in health care facilities. The adoption is most prominent in the metropolitan areas where hospitals have continued to upgrade their health facilities to cater for the increasing health demands.
The overall surgical robot market in the Asia Pacific area is highly dynamic to exhibit various growth tendencies affected by the economic and demographic changes, healthcare reforms, and developments and affect in various countries.
Surgical Robots Company Overview
Some of the key players in this surgical robots market are Intuitive Surgical Inc., Stryker Corporation, Johnson & Johnson, Renishaw PLC, Accuray Incorporated, titan Medical Inc., Medtronic, Smith & Nephew PLC, and Zimmer Biomet.Surgical Robots Company News
- In August 2022, India pioneered the use of wheat technique known as biological The pioneer in orthopedic surgical robots, THINK Surgical, Inc., has announced that it has partnered with Curexo, Inc., a medical robotics specialty firm based in South Korea, on development and distribution.
- In June 2022, the integration of mobile cone-beam CT (CBCT) imaging technology and the Ion Endoluminal System, which is used for robotic-assisted bronchoscopy, has been approved by the U.S. Food and Drug Administration, according to a statement made by Intuitive, a global leader in minimally invasive care and the inventor of robotic-assisted surgery.
- In January 2022, Versius, a cutting-edge surgical robotic system, was utilized to successfully complete high-volume urological treatments at the Sindh Institute of Urology and Transplantation (SIUT) in Pakistan, according to CMR Surgical, a company involved in the surgical robotics industry.
Component - Global Surgical Robots Market in 3 Viewpoints :
1. Surgical System2. Accessory
3. Service
Area of Surgery - Global Surgical Robots Market in 7 Viewpoints :
1. Gynecological Surgery2. Cardiovascular
3. Neurosurgery
4. Orthopedic Surgery
5. Laparoscopy
6. Urology
7. Other Areas of Surgery
Geography - Global Surgical Robots Market
North America
1. United States2. Canada
Europe
1. France2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey
Asia Pacific
1. China2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand
Latin America
1. Brazil2. Mexico
3. Argentina
Middle East & Africa
1. South Africa2. Saudi Arabia
3. United Arab Emirates
Company Insights:
- Overviews
- Recent Developments & Strategies
- Product Portfolio & Product Launch in Last 1 Year
- Revenue
Company Analysis:
1. Intuitive Surgical Inc.2. Stryker Corporation
3. Johnson & Johnson
4. Renishaw PLC
5. Accuray Incorporated
6. Titan Medical Inc.
7. Medtronic PLC
8. Smith & Nephew PLC
9. Zimmer Biomet
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Surgical Robots Market
4. Market Dynamic
6. Global Surgical Robots Market Share Analysis
7. Component - Global Surgical Robots Market
8. Area of Surgery - Global Surgical Robots Market
9. Country - Global Surgical Robots Market
10. Porter's Five Forces Analysis
11. SWOT Analysis
12. Key Players Analysis
Companies Mentioned
- Intuitive Surgical Inc.
- Stryker Corporation
- Johnson & Johnson
- Renishaw PLC
- Accuray Incorporated
- Titan Medical Inc.
- Medtronic PLC
- Smith & Nephew PLC
- Zimmer Biomet
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.05 Billion |
| Forecasted Market Value ( USD | $ 11.85 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
