Da Vinci Systems Global Market Report 2024

The da vinci systems market size has grown exponentially in recent years. It will grow from $1.87 billion in 2023 to $2.25 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth observed in the historic period can be attributed to several factors, including global expansion initiatives and approvals for market entrance, intensifying competition driving market expansion, and the accumulation of substantial volumes of healthcare data.

The da vinci systems market size is expected to see exponential growth in the next few years. It will grow to $4.77 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The anticipated growth in the forecast period can be attributed to the increasing acknowledgment of AI's capacity to revolutionize healthcare delivery, the growing accessibility of labeled healthcare datasets essential for AI training, collaborations between technology firms and healthcare providers to implement AI solutions, and the emphasis on interoperability and data standardization to facilitate AI integration.

The growth trajectory of the da Vinci systems market is expected to be fueled by a rising number of surgeries. This surge in surgical procedures is attributed to advancements in medical technology, an aging population with heightened healthcare needs, increased healthcare access and awareness, and a transition towards proactive and preventive surgical interventions. Da Vinci surgical systems, utilized across various specialties such as urology, gynecology, and cardiothoracic surgery, empower surgeons to execute intricate procedures with heightened precision, minimal incisions, reduced blood loss, and accelerated recovery times compared to traditional open surgery methods. For example, Intuitive Surgical, Inc. reported a notable increase in surgeries performed with da Vinci Surgical Systems from approximately 1,594,000 in 2021 to approximately 1,875,000 in 2022, representing an 18% rise. Consequently, the mounting demand for surgeries acts as a key driver propelling the growth of the da Vinci systems market.

Major players in the da Vinci systems market are dedicated to pioneering innovative multiport robotic systems to elevate surgical precision and patient outcomes. Intuitive Surgical's latest offering, the da Vinci 5, represents the pinnacle of robotic surgical technology, receiving 510(k) clearance from the US Food and Drug Administration (FDA). Launched in March 2022, the da Vinci 5 boasts enhanced accuracy, a cutting-edge 3D display, and over 150 improvements including upgraded image processing and groundbreaking force-sensing technology, further cementing Intuitive Surgical's leadership in the field.

In February 2023, Baxter International Inc. forged a strategic partnership with Intuitive Surgical Inc. to develop the TS7000dV surgical table tailored for the da Vinci Xi system. This collaboration aims to alleviate some of the challenges encountered by surgeons during procedures, enhancing overall surgical efficacy. Leveraging their respective expertise, Baxter International and Intuitive Surgical endeavor to enhance patient outcomes and streamline surgical procedures, underscoring their commitment to advancing surgical innovation and excellence.

Major companies operating in the da vinci systems market are Johnson & Johnson, Medtronic Plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Intuitive Surgical Inc., Smith & Nephew plc, Karl Storz, Applied Medical, CMR Surgical Ltd, Avatera Medical, Stereotaxis Inc., THINK Surgical Inc., Titan Medical, MicroSure, Corindus Vascular Robotics Inc., XACT Robotics Ltd., Vicarious Surgical Inc., Z-Media LLC, Advanced Vascular Dynamics, Transluminal Technologies, Robocath, Tricol Medical, Hansen Medical Inc., Meere Company Inc.

North America was the largest region in the da Vinci systems market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the da vinci systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the da vinci systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The da Vinci system represents a cutting-edge robotic surgical platform engineered to support minimally invasive surgical procedures by leveraging robotic technology. It aids surgeons in performing intricate operations with enhanced precision and control. By utilizing this system, surgeons can achieve several advantages compared to conventional surgical methods, such as smaller incisions, minimized blood loss, shorter hospital stays, expedited recovery periods, and heightened surgical accuracy.

The da Vinci surgical system encompasses various product types, including systems, instruments and accessories, services, and data analytics software. This robotic surgical platform is engineered to support surgeons in performing minimally invasive procedures across a range of medical specialties, including general surgery, urological surgery, gynecological surgery, cardiothoracic surgery, colorectal surgery, and others. It finds application in diverse healthcare settings, including hospitals, ambulatory surgical centers, and academic and research centers.

The da vinci systems research report is one of a series of new reports that provides da vinci systems market statistics, including the da vinci systems industry's global market size, regional shares, competitors with a da vinci systems market share, detailed da vinci systems market segments, market trends and opportunities, and any further data you may need to thrive in the da vinci systems industry. This da vinci systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The da Vinci systems market consists of revenues earned by entities by providing services such as robot-assisted surgery, minimally invasive procedures, enhanced visualization, articulated instruments, teleoperation, multiple specialties, training, and education. The market value includes the value of related goods sold by the service provider or included within the service offering. The da Vinci systems market also consist of sales of surgical consoles, robotic arms, vision systems, accessories and consumables, maintenance, and service contracts. 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.


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