The remote surgery market size has grown rapidly in recent years. It will grow from $5.25 billion in 2023 to $6.2 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth observed in the historic period can be attributed to factors such as improvements in telecommunication infrastructure, the globalization of healthcare services, an increased demand for specialty surgical expertise, collaborations between surgeons and technology developers, the rising costs of healthcare, and the need for efficiency. Government initiatives aimed at improving healthcare accessibility have also played a role in this growth.
The remote surgery market size is expected to see rapid growth in the next few years. It will grow to $11.26 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to factors such as global health crisis preparedness, a focus on rural and underserved healthcare, integration with artificial intelligence (AI), initiatives for training and skill development, and increased international collaboration in healthcare services. Major trends expected in the forecast period include advancements in robotics and telecommunication, increased accessibility and connectivity, a rising demand for minimally invasive procedures, integration of artificial intelligence (AI), and a surge in telesurgery training programs.
The increasing number of surgeries worldwide is expected to drive the growth of the remote surgery market in the coming years. Surgery, a medical specialty that employs operative techniques to investigate, diagnose, and treat various medical conditions, is witnessing a rise in numbers globally. Remote surgery, facilitated by advancements in technology, is becoming more prevalent as it offers surgeons greater precision, improved visualization, and shorter hospital stays. For example, in 2021, the American Society for Metabolic and Bariatric Surgery reported an increase in the number of bariatric surgeries to approximately 262,893, up from 198,651 in 2020. Additionally, global healthcare systems performed over 300 million major surgical procedures each year, as reported in May 2023 by Austin Publishing Group. This trend underscores the role of remote surgery in meeting the demands of an increasing number of surgeries globally.
The growth of chronic diseases is also expected to contribute to the expansion of the remote surgery market. Chronic diseases, characterized by long-lasting conditions that require ongoing medical attention and often limit daily activities, are on the rise. Remote surgery is increasingly being utilized in the management of chronic diseases, enabling skilled surgeons to perform procedures from a distance. This approach enhances accessibility to specialized care and alleviates the burden on patients with chronic conditions. As of January 2023, the National Center for Biotechnology Information estimated that chronic diseases would increase by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020. The growing prevalence of chronic diseases is thus a significant driver for the growth of the remote surgery market.
The increasing cost of medical robots is anticipated to act as a hindrance to the growth of the remote surgery market. The pricing of medical robots can vary significantly based on factors such as their type, capabilities, intended use, and underlying technology. This rising cost is expected to restrain the growth of remote surgery due to the initial investment posing a challenge for potential adopters. The substantial upfront costs, coupled with ongoing expenses related to training and maintenance, may impede widespread adoption of remote surgery technologies. For example, in August 2023, Nanjing Perlove Medical Equipment Co. Ltd., a China-based manufacturer and supplier of medical x-ray machines, noted that domestic surgical robots cost between $14 and $17 million, with an expectation of further cost increases in the future. This escalating cost of medical robots is identified as a limiting factor for the expansion of the remote surgery market.
Major companies in the remote surgery market are concentrating on technological advancements, specifically in robotic platforms. These platforms aim to enhance the precision and accuracy of procedures while ensuring safety. An example of this is Robocath SAS, a France-based developer of robotic solutions and systems, which introduced the 'R-One+ robotic platform' in May 2023 for heart surgery. The R-One+ platform is designed to make coronary angioplasty safer and more efficient. It allows cardiologists to control devices remotely from the operation facility's control room, reducing the risk of injuries caused by radiation. The platform incorporates safety features such as collision detection and avoidance, as well as force feedback, to prevent collisions between the robotic arm, patients, and other surgical instruments.
In January 2021, Surgical Science Sweden AB, a Sweden-based manufacturer of virtual reality simulators, completed the acquisition of Mimic Technologies Inc. for an approximate amount of $18 million. This strategic move aimed at expanding Surgical Science's presence in the realm of robotic surgery by diversifying its customer base. The acquisition allowed Surgical Science to integrate Mimic Technologies' simulation solutions for robotic surgery into its offerings, enhancing the capabilities for advanced analytics and data collection. Mimic Technologies Inc., based in the United States, specializes in the development of simulation solutions tailored for robotic surgery.
Major companies operating in the remote surgery market report are Johnson and Johnson Private Limited, Medtronic plc., Stryker Corporation, Zimmer Biomet Holdings, Intuitive Surgical Inc., Smith and Nephew plc., Auris Health Inc., Globus Medical Inc., Renishaw plc., SRI International, Accuray Incorporated, Brainlab AG, Meere Co Inc., Titan Medical Group, MAKO Surgical Corp., Avatera Medical GmbH, Mazor Robotics Ltd., CMR Surgical Ltd., THINK Surgical Inc., Vicarious Surgical Inc., Ronovo Surgical, Blue Belt Technologies Inc., Synaptive Medical Inc., Virtual Incision Corporation, Asensus Surgical Inc., Medrobotics Corporation, MicroSure B.V., EndoQuest Robotics Ltd., Medicaroid Corporation, Neocis Inc.
North America was the largest region in the remote surgery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the remote surgery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the remote surgery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Remote surgery, also known as telesurgery, is a medical procedure wherein a surgeon conducts surgery on a patient located at a different physical location. This innovative approach relies on advanced technology and telecommunications, often utilizing a combination of robotic systems and high-speed internet connections.
The main components of remote surgery include accessories and systems. Accessories are supplementary items or components added to enhance the functionality of the system. Remote surgery finds applications in various medical fields, including gynecology surgery, urology surgery, thoracic surgery, cardiac surgery, neurosurgery, orthopedic surgery, general surgery, and more. Clinics and hospitals are among the diverse end-users benefiting from the advancements in remote surgery technology.
The remote surgery market research report is one of a series of new reports that provides remote surgery market statistics, including remote surgery industry global market size, regional shares, competitors with a remote surgery market share, detailed remote surgery market segments, market trends and opportunities, and any further data you may need to thrive in the remote surgery industry. This remote surgery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The remote surgery market includes revenues earned by entities by providing services such as telesurgical support, telementoring, telesurgery services, and real-time monitoring 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 remote surgery market consists of sales of robotic surgery systems, tele-surgical systems, shared-control systems, cameras and imaging systems, remote control consoles, and advanced surgical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 remote surgery market size is expected to see rapid growth in the next few years. It will grow to $11.26 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to factors such as global health crisis preparedness, a focus on rural and underserved healthcare, integration with artificial intelligence (AI), initiatives for training and skill development, and increased international collaboration in healthcare services. Major trends expected in the forecast period include advancements in robotics and telecommunication, increased accessibility and connectivity, a rising demand for minimally invasive procedures, integration of artificial intelligence (AI), and a surge in telesurgery training programs.
The increasing number of surgeries worldwide is expected to drive the growth of the remote surgery market in the coming years. Surgery, a medical specialty that employs operative techniques to investigate, diagnose, and treat various medical conditions, is witnessing a rise in numbers globally. Remote surgery, facilitated by advancements in technology, is becoming more prevalent as it offers surgeons greater precision, improved visualization, and shorter hospital stays. For example, in 2021, the American Society for Metabolic and Bariatric Surgery reported an increase in the number of bariatric surgeries to approximately 262,893, up from 198,651 in 2020. Additionally, global healthcare systems performed over 300 million major surgical procedures each year, as reported in May 2023 by Austin Publishing Group. This trend underscores the role of remote surgery in meeting the demands of an increasing number of surgeries globally.
The growth of chronic diseases is also expected to contribute to the expansion of the remote surgery market. Chronic diseases, characterized by long-lasting conditions that require ongoing medical attention and often limit daily activities, are on the rise. Remote surgery is increasingly being utilized in the management of chronic diseases, enabling skilled surgeons to perform procedures from a distance. This approach enhances accessibility to specialized care and alleviates the burden on patients with chronic conditions. As of January 2023, the National Center for Biotechnology Information estimated that chronic diseases would increase by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020. The growing prevalence of chronic diseases is thus a significant driver for the growth of the remote surgery market.
The increasing cost of medical robots is anticipated to act as a hindrance to the growth of the remote surgery market. The pricing of medical robots can vary significantly based on factors such as their type, capabilities, intended use, and underlying technology. This rising cost is expected to restrain the growth of remote surgery due to the initial investment posing a challenge for potential adopters. The substantial upfront costs, coupled with ongoing expenses related to training and maintenance, may impede widespread adoption of remote surgery technologies. For example, in August 2023, Nanjing Perlove Medical Equipment Co. Ltd., a China-based manufacturer and supplier of medical x-ray machines, noted that domestic surgical robots cost between $14 and $17 million, with an expectation of further cost increases in the future. This escalating cost of medical robots is identified as a limiting factor for the expansion of the remote surgery market.
Major companies in the remote surgery market are concentrating on technological advancements, specifically in robotic platforms. These platforms aim to enhance the precision and accuracy of procedures while ensuring safety. An example of this is Robocath SAS, a France-based developer of robotic solutions and systems, which introduced the 'R-One+ robotic platform' in May 2023 for heart surgery. The R-One+ platform is designed to make coronary angioplasty safer and more efficient. It allows cardiologists to control devices remotely from the operation facility's control room, reducing the risk of injuries caused by radiation. The platform incorporates safety features such as collision detection and avoidance, as well as force feedback, to prevent collisions between the robotic arm, patients, and other surgical instruments.
In January 2021, Surgical Science Sweden AB, a Sweden-based manufacturer of virtual reality simulators, completed the acquisition of Mimic Technologies Inc. for an approximate amount of $18 million. This strategic move aimed at expanding Surgical Science's presence in the realm of robotic surgery by diversifying its customer base. The acquisition allowed Surgical Science to integrate Mimic Technologies' simulation solutions for robotic surgery into its offerings, enhancing the capabilities for advanced analytics and data collection. Mimic Technologies Inc., based in the United States, specializes in the development of simulation solutions tailored for robotic surgery.
Major companies operating in the remote surgery market report are Johnson and Johnson Private Limited, Medtronic plc., Stryker Corporation, Zimmer Biomet Holdings, Intuitive Surgical Inc., Smith and Nephew plc., Auris Health Inc., Globus Medical Inc., Renishaw plc., SRI International, Accuray Incorporated, Brainlab AG, Meere Co Inc., Titan Medical Group, MAKO Surgical Corp., Avatera Medical GmbH, Mazor Robotics Ltd., CMR Surgical Ltd., THINK Surgical Inc., Vicarious Surgical Inc., Ronovo Surgical, Blue Belt Technologies Inc., Synaptive Medical Inc., Virtual Incision Corporation, Asensus Surgical Inc., Medrobotics Corporation, MicroSure B.V., EndoQuest Robotics Ltd., Medicaroid Corporation, Neocis Inc.
North America was the largest region in the remote surgery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the remote surgery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the remote surgery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Remote surgery, also known as telesurgery, is a medical procedure wherein a surgeon conducts surgery on a patient located at a different physical location. This innovative approach relies on advanced technology and telecommunications, often utilizing a combination of robotic systems and high-speed internet connections.
The main components of remote surgery include accessories and systems. Accessories are supplementary items or components added to enhance the functionality of the system. Remote surgery finds applications in various medical fields, including gynecology surgery, urology surgery, thoracic surgery, cardiac surgery, neurosurgery, orthopedic surgery, general surgery, and more. Clinics and hospitals are among the diverse end-users benefiting from the advancements in remote surgery technology.
The remote surgery market research report is one of a series of new reports that provides remote surgery market statistics, including remote surgery industry global market size, regional shares, competitors with a remote surgery market share, detailed remote surgery market segments, market trends and opportunities, and any further data you may need to thrive in the remote surgery industry. This remote surgery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The remote surgery market includes revenues earned by entities by providing services such as telesurgical support, telementoring, telesurgery services, and real-time monitoring 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 remote surgery market consists of sales of robotic surgery systems, tele-surgical systems, shared-control systems, cameras and imaging systems, remote control consoles, and advanced surgical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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. Remote Surgery Market Characteristics3. Remote Surgery Market Trends and Strategies32. Global Remote Surgery Market Competitive Benchmarking33. Global Remote Surgery Market Competitive Dashboard34. Key Mergers and Acquisitions in the Remote Surgery Market
4. Remote Surgery Market - Macro Economic Scenario
5. Global Remote Surgery Market Size and Growth
6. Remote Surgery Market Segmentation
7. Remote Surgery Market Regional and Country Analysis
8. Asia-Pacific Remote Surgery Market
9. China Remote Surgery Market
10. India Remote Surgery Market
11. Japan Remote Surgery Market
12. Australia Remote Surgery Market
13. Indonesia Remote Surgery Market
14. South Korea Remote Surgery Market
15. Western Europe Remote Surgery Market
16. UK Remote Surgery Market
17. Germany Remote Surgery Market
18. France Remote Surgery Market
19. Italy Remote Surgery Market
20. Spain Remote Surgery Market
21. Eastern Europe Remote Surgery Market
22. Russia Remote Surgery Market
23. North America Remote Surgery Market
24. USA Remote Surgery Market
25. Canada Remote Surgery Market
26. South America Remote Surgery Market
27. Brazil Remote Surgery Market
28. Middle East Remote Surgery Market
29. Africa Remote Surgery Market
30. Remote Surgery Market Competitive Landscape and Company Profiles
31. Remote Surgery Market Other Major and Innovative Companies
35. Remote Surgery Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Remote Surgery Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on remote surgery 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.
Reasons to Purchase
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- Measure the impact of high global inflation on market growth.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for remote surgery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The remote surgery market global 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.
Scope
Markets Covered:
1) By Component: Accessories; Systems2) By Application: Gynecology Surgery; Urology Surgery; Thoracic Surgery; Cardiac Surgery; Neurosurgery; Orthopedic Surgery; General Surgery; Other Applications.
3) By End-User: Clinics; Hospitals
Key Companies Mentioned: Johnson and Johnson Private Limited; Medtronic plc.; Stryker Corporation; Zimmer Biomet Holdings; Intuitive Surgical Inc.
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
- Johnson and Johnson Private Limited
- Medtronic plc.
- Stryker Corporation
- Zimmer Biomet Holdings
- Intuitive Surgical Inc.
- Smith and Nephew plc.
- Auris Health Inc.
- Globus Medical Inc.
- Renishaw plc.
- SRI International
- Accuray Incorporated
- Brainlab AG
- Meere Co Inc.
- Titan Medical Group
- MAKO Surgical Corp.
- Avatera Medical GmbH
- Mazor Robotics Ltd.
- CMR Surgical Ltd.
- THINK Surgical Inc.
- Vicarious Surgical Inc.
- Ronovo Surgical
- Blue Belt Technologies Inc.
- Synaptive Medical Inc.
- Virtual Incision Corporation
- Asensus Surgical Inc.
- Medrobotics Corporation
- MicroSure B.V.
- EndoQuest Robotics Ltd.
- Medicaroid Corporation
- Neocis Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | March 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 6.2 Billion |
Forecasted Market Value ( USD | $ 11.26 Billion |
Compound Annual Growth Rate | 16.1% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |