The robotic surgery services market size has grown rapidly in recent years. It will grow from $1.01 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The expansion observed in the historical period can be ascribed to an increase in the adoption of surgical robots, the proliferation of healthcare facilities, supportive government regulations, heightened healthcare expenditures, and the rapid growth of the elderly population.
The robotic surgery services market size is expected to see rapid growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. This anticipated growth in the forecast period is linked to several factors, including the surge in product launches, the prevalence of minimally invasive surgeries, an increasing incidence of chronic diseases, and a rise in healthcare expenditure. Key trends expected in the forecast period encompass the integration of in-vivo robots in surgery services, ongoing developments in technology, a rise in merger and acquisition activities, the utilization of nanobots in surgery services, and the application of artificial intelligence in robotic surgery services.
The growth of the robotic surgery services market is further propelled by the increased purchasing power of hospitals and ambulatory care services. These healthcare facilities are keen on acquiring the latest technologies to offer advanced care to patients and gain a competitive edge. For example, the industry giant Intuitive Surgical reported significant growth in the utilization of da Vinci Surgical Systems, with approximately 1,875,000 surgical procedures performed in 2022, representing an 18% increase compared to around 1,594,000 procedures in the previous year. Revenues from da Vinci Surgical Systems in the fourth quarter of 2022 reached approximately $1.66 billion, a 7% increase from $1.55 billion in 2021. The purchasing power of hospitals and ambulatory care services, combined with the aging population and the prevalence of chronic illnesses, has played a pivotal role in fostering the growth of the robotic surgery services market.
The anticipated growth of the robotic surgery services market is driven by the increasing incidence of chronic diseases. Chronic illnesses, characterized by lasting three months or more and potentially worsening over time, are being addressed through minimally invasive procedures offered by robotic surgery services. These procedures result in less pain, reduced scarring, and shorter recovery times compared to traditional open surgeries. For example, data from January 2023, according to the National Library of Medicine in the US, projects a 99.5% increase in the number of people aged 50 and older with at least one chronic condition, reaching 142.66 million by 2050. This rise in chronic diseases is a significant factor fueling the growth of the robotic surgery services market.
The combination of the image guide navigation system with robotic surgery systems is expanding possibilities for visualizing and conducting minimally invasive surgeries in challenging areas, particularly in orthopedic and neurosurgeries. Systems such as the Mazor X Stealth by Medtronic and NuVasive's Pulse and Excelsius GPS by Globus Medical use image-guided navigation systems for spine surgeries and orthopedic implant procedures, providing surgeons with a 3D experience. This technology reduces radiation exposure, eliminating the need for post-procedure X-rays. The image-guided navigation system is emerging as a trend in robotic surgery services.
Leading companies in the robotic surgery services market are dedicated to innovation, utilizing advanced technology to develop reliable products. The Da Vinci Xi Robotic Surgical System is an example of such innovation, offering an effective, minimally invasive alternative for a range of conditions, including cancer, colorectal disorders, gynecologic conditions, heart disease, head and neck disorders, thoracic disorders, and urological disorders. In June 2023, Apollo Hospitals Enterprise Limited, an India-based healthcare company, introduced the Da Vinci Xi Robotic Surgical System, equipped with HD cameras for superior visualization and enhanced dexterity surpassing the human hand.
In February 2022, Medtronic PLC., a US-based medical device company, acquired Digital Surgery for an undisclosed amount. This strategic move aims to bolster Medtronic's robotic-assisted surgery platform and broaden its portfolio of products. Digital Surgery, a UK-based pioneer in digital education, training, data and analytics, and surgical artificial intelligence (AI), brings valuable expertise to further enhance Medtronic's capabilities in the field.
Major companies operating in the robotic surgery services market report are Tenet Healthcare Corporation, HCA Healthcare, Inc., Asklepios Kliniken Verwaltungsgesellschaft Mbh, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Fortis Healthcare, Bangkok Hospital, Spire Healthcare Group PLC, Saudi German Hospitals Group, Raffles Medical Group, SS Innovations Private Limited, Private Limited, CMR Surgical India Pvt. Ltd., Medicaroid Corp, Asahi Surgical Robotics Co Ltd., HOZ Medical, Medtronic Australasia, Taimi Robotics Technology, Wenshi Robot, Borns Medical RoboticsK, ewei Robot, Horizon Robotics, Avateramedical GmbH, Zimmer Biomet Robotics, Medtech SA, KB Medical SA, Senhance, Archer Daniels Midland Company, Barentz Group Companies, CHR Hansen , Asensus Surgical, Intuitive, Medrobotics Corporation, Medical Inc., Smith & Nephew, Restoration Robotics, Hansen Medical, RTI Connext DDS, Robotic Surgerya, Stryker Corporation, Mazor Robotics, Renishaw PLC, Stereotaxis Inc., Capsa Healthcare, ReWalk Robotics, Hocoma, Accuray Incorporated, Corindus, InTouch Health Inc.
North America was the largest region in the robotic surgery services market in 2023. Western Europe was the second largest region in the global robotic surgery services market share. The regions covered in the robotic surgery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the robotic surgery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The robotic surgery services market includes revenues earned by entities by providing robotic gynecological services, robotic prostate surgery services, robotic kidney surgery services, and robotic colorectal surgery services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The robotic surgery services market size is expected to see rapid growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. This anticipated growth in the forecast period is linked to several factors, including the surge in product launches, the prevalence of minimally invasive surgeries, an increasing incidence of chronic diseases, and a rise in healthcare expenditure. Key trends expected in the forecast period encompass the integration of in-vivo robots in surgery services, ongoing developments in technology, a rise in merger and acquisition activities, the utilization of nanobots in surgery services, and the application of artificial intelligence in robotic surgery services.
The growth of the robotic surgery services market is further propelled by the increased purchasing power of hospitals and ambulatory care services. These healthcare facilities are keen on acquiring the latest technologies to offer advanced care to patients and gain a competitive edge. For example, the industry giant Intuitive Surgical reported significant growth in the utilization of da Vinci Surgical Systems, with approximately 1,875,000 surgical procedures performed in 2022, representing an 18% increase compared to around 1,594,000 procedures in the previous year. Revenues from da Vinci Surgical Systems in the fourth quarter of 2022 reached approximately $1.66 billion, a 7% increase from $1.55 billion in 2021. The purchasing power of hospitals and ambulatory care services, combined with the aging population and the prevalence of chronic illnesses, has played a pivotal role in fostering the growth of the robotic surgery services market.
The anticipated growth of the robotic surgery services market is driven by the increasing incidence of chronic diseases. Chronic illnesses, characterized by lasting three months or more and potentially worsening over time, are being addressed through minimally invasive procedures offered by robotic surgery services. These procedures result in less pain, reduced scarring, and shorter recovery times compared to traditional open surgeries. For example, data from January 2023, according to the National Library of Medicine in the US, projects a 99.5% increase in the number of people aged 50 and older with at least one chronic condition, reaching 142.66 million by 2050. This rise in chronic diseases is a significant factor fueling the growth of the robotic surgery services market.
The combination of the image guide navigation system with robotic surgery systems is expanding possibilities for visualizing and conducting minimally invasive surgeries in challenging areas, particularly in orthopedic and neurosurgeries. Systems such as the Mazor X Stealth by Medtronic and NuVasive's Pulse and Excelsius GPS by Globus Medical use image-guided navigation systems for spine surgeries and orthopedic implant procedures, providing surgeons with a 3D experience. This technology reduces radiation exposure, eliminating the need for post-procedure X-rays. The image-guided navigation system is emerging as a trend in robotic surgery services.
Leading companies in the robotic surgery services market are dedicated to innovation, utilizing advanced technology to develop reliable products. The Da Vinci Xi Robotic Surgical System is an example of such innovation, offering an effective, minimally invasive alternative for a range of conditions, including cancer, colorectal disorders, gynecologic conditions, heart disease, head and neck disorders, thoracic disorders, and urological disorders. In June 2023, Apollo Hospitals Enterprise Limited, an India-based healthcare company, introduced the Da Vinci Xi Robotic Surgical System, equipped with HD cameras for superior visualization and enhanced dexterity surpassing the human hand.
In February 2022, Medtronic PLC., a US-based medical device company, acquired Digital Surgery for an undisclosed amount. This strategic move aims to bolster Medtronic's robotic-assisted surgery platform and broaden its portfolio of products. Digital Surgery, a UK-based pioneer in digital education, training, data and analytics, and surgical artificial intelligence (AI), brings valuable expertise to further enhance Medtronic's capabilities in the field.
Major companies operating in the robotic surgery services market report are Tenet Healthcare Corporation, HCA Healthcare, Inc., Asklepios Kliniken Verwaltungsgesellschaft Mbh, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Fortis Healthcare, Bangkok Hospital, Spire Healthcare Group PLC, Saudi German Hospitals Group, Raffles Medical Group, SS Innovations Private Limited, Private Limited, CMR Surgical India Pvt. Ltd., Medicaroid Corp, Asahi Surgical Robotics Co Ltd., HOZ Medical, Medtronic Australasia, Taimi Robotics Technology, Wenshi Robot, Borns Medical RoboticsK, ewei Robot, Horizon Robotics, Avateramedical GmbH, Zimmer Biomet Robotics, Medtech SA, KB Medical SA, Senhance, Archer Daniels Midland Company, Barentz Group Companies, CHR Hansen , Asensus Surgical, Intuitive, Medrobotics Corporation, Medical Inc., Smith & Nephew, Restoration Robotics, Hansen Medical, RTI Connext DDS, Robotic Surgerya, Stryker Corporation, Mazor Robotics, Renishaw PLC, Stereotaxis Inc., Capsa Healthcare, ReWalk Robotics, Hocoma, Accuray Incorporated, Corindus, InTouch Health Inc.
North America was the largest region in the robotic surgery services market in 2023. Western Europe was the second largest region in the global robotic surgery services market share. The regions covered in the robotic surgery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the robotic surgery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The robotic surgery services market includes revenues earned by entities by providing robotic gynecological services, robotic prostate surgery services, robotic kidney surgery services, and robotic colorectal surgery services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Robotic Surgery Services Market Characteristics3. Robotic Surgery Services Market Trends and Strategies32. Global Robotic Surgery Services Market Competitive Benchmarking33. Global Robotic Surgery Services Market Competitive Dashboard34. Key Mergers and Acquisitions in the Robotic Surgery Services Market
4. Robotic Surgery Services Market - Macro Economic Scenario
5. Global Robotic Surgery Services Market Size and Growth
6. Robotic Surgery Services Market Segmentation
7. Robotic Surgery Services Market Regional and Country Analysis
8. Asia-Pacific Robotic Surgery Services Market
9. China Robotic Surgery Services Market
10. India Robotic Surgery Services Market
11. Japan Robotic Surgery Services Market
12. Australia Robotic Surgery Services Market
13. Indonesia Robotic Surgery Services Market
14. South Korea Robotic Surgery Services Market
15. Western Europe Robotic Surgery Services Market
16. UK Robotic Surgery Services Market
17. Germany Robotic Surgery Services Market
18. France Robotic Surgery Services Market
19. Italy Robotic Surgery Services Market
20. Spain Robotic Surgery Services Market
21. Eastern Europe Robotic Surgery Services Market
22. Russia Robotic Surgery Services Market
23. North America Robotic Surgery Services Market
24. USA Robotic Surgery Services Market
25. Canada Robotic Surgery Services Market
26. South America Robotic Surgery Services Market
27. Brazil Robotic Surgery Services Market
28. Middle East Robotic Surgery Services Market
29. Africa Robotic Surgery Services Market
30. Robotic Surgery Services Market Competitive Landscape and Company Profiles
31. Robotic Surgery Services Market Other Major and Innovative Companies
35. Robotic Surgery Services Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Robotic Surgery Services Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on robotic surgery services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for robotic surgery services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Component: Systems; Accessories; Services
2) By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopedics Surgery, Neurosurgery and Other Applications
3) By End-Use: Hospitals and Ambulatory Surgery Centers (Ascs)
Key Companies Mentioned: Tenet Healthcare Corporation; HCA Healthcare, Inc; Asklepios Kliniken Verwaltungsgesellschaft Mbh; Apollo Hospitals Enterprise Ltd.; Bumrungrad International Hospital
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Tenet Healthcare Corporation
- HCA Healthcare, Inc
- Asklepios Kliniken Verwaltungsgesellschaft Mbh
- Apollo Hospitals Enterprise Ltd.
- Bumrungrad International Hospital
- Fortis Healthcare
- Bangkok Hospital
- Spire Healthcare Group plc
- Saudi German Hospitals Group
- Raffles Medical Group
- SS Innovations Private Limited
- Private Limited
- CMR Surgical India Pvt. Ltd
- Medicaroid Corp
- Asahi Surgical Robotics Co Ltd
- HOZ Medical
- Medtronic Australasia
- Taimi Robotics Technology
- Wenshi Robot
- Borns Medical RoboticsK
- ewei Robot
- Horizon Robotics
- Avateramedical GmbH
- Zimmer Biomet Robotics
- Medtech SA
- KB Medical SA
- Senhance
- Archer Daniels Midland Company
- Barentz Group Companies
- CHR Hansen
- Asensus Surgical
- Intuitive
- Medrobotics Corporation
- Medical Inc
- Smith & Nephew
- Restoration Robotics
- Hansen Medical
- RTI Connext DDS
- Robotic Surgerya
- Stryker Corporation
- Mazor Robotics
- Renishaw Plc
- Stereotaxis Inc
- Capsa Healthcare
- ReWalk Robotics
- Hocoma
- Accuray Incorporated
- Corindus
- InTouch Health Inc
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.19 Billion |
Forecasted Market Value ( USD | $ 2.04 Billion |
Compound Annual Growth Rate | 14.4% |
Regions Covered | Global |
No. of Companies Mentioned | 49 |