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The surgical robots market size is forecast to increase by USD 14.02 billion at a CAGR of 27.17% between 2023 and 2028. The market is experiencing significant growth due to the increasing adoption of minimally invasive techniques in various surgical segments, including neurology. Neurological disorders such as Parkinson's disease, epilepsy, and brain tumors are driving the demand for advanced surgical solutions, leading to a high adoption rate of surgical robots for neurosurgeries. Traditional surgery techniques, particularly in complex brain surgeries, are being replaced with robotic-assisted procedures due to their precision and accuracy. Furthermore, the rising prevalence of chronic diseases among adults, especially cardiac conditions and cataracts, is fueling the market growth. The affordability and cost-effectiveness of surgical robots are also contributing factors, making them an attractive option for healthcare providers in both developed and developing countries.
Surgical robots have revolutionized the healthcare industry with their precision and minimally invasive approach, particularly in outpatient surgery and ambulatory surgery centers. These advanced technologies integrate HD cameras and automated instruments, enabling physicians and surgeons to perform complex procedures with enhanced visualization and accuracy. Surgical robots are increasingly being used for various procedures, including hip replacement surgeries, knee replacement surgeries, joint surgeries for osteoarthritis, and cardiac surgery. The aging population and the rise in chronic diseases such as bone degenerative diseases like arthritis, osteoporosis, and cancer are driving the demand for surgical robots. Cataract surgery and soft tissue surgeries are also benefiting from the adoption of surgical robots.
Similarly, surgical errors are minimized with the use of surgical robots, ensuring better patient outcomes and reduced recovery time. Medicare and other healthcare providers are recognizing the benefits of surgical robots, making them an essential tool for physicians and surgeons in delivering efficient and effective healthcare services. Instruments and accessories for surgical robots are also witnessing significant growth due to the increasing adoption of these technologies.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The general and laparoscopy surgery segment is estimated to witness significant growth during the forecast period. Surgical robots have become increasingly popular in various medical facilities, including hospitals, clinics, and ambulatory surgery centers, due to their advanced capabilities in assisting physicians and surgeons in performing intricate surgeries. These robots, equipped with automated instruments, have significantly impacted the medical industry, particularly in neurosurgery and bone degenerative diseases such as arthritis and osteoporosis. The global demand for surgical robots is expected to grow significantly in the coming years, with an estimated 200-400 million surgical procedures performed annually worldwide. Surgical robots offer numerous benefits, including enhanced precision and visualization during surgeries, which is crucial in complex procedures like hip replacement surgeries. The use of surgical robots in minimally invasive surgeries has revolutionized the field by providing a magnified 3D view of the surgery site and improved instrument maneuverability.
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The general and laparoscopy surgery segment was valued at USD 1.13 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the United States, the market holds a significant share due to the increasing number of chronic diseases and the resulting surgical procedures. According to the Centers for Disease Control and Prevention (CDC), approximately 129 million Americans had one or more chronic conditions as of February 2024, with a large percentage of these individuals suffering from cardiovascular diseases and chronic respiratory conditions. Neurosurgery, hip replacement surgeries, and gynecological procedures are also common, particularly in the context of bone degenerative diseases such as arthritis and osteoporosis. Hospitals, clinics, and ambulatory surgery centers are increasingly adopting surgical robots to provide automated instruments for these procedures.
Additionally, the benefits of surgical robots include enhanced precision, improved dexterity, smaller incisions, reduced blood loss, and faster patient recovery times. These advantages are particularly important in neurosurgery, where the delicate nature of the procedures requires a high degree of precision and control. The high incidence of these conditions and the resulting surgical procedures in the US is expected to drive the growth of the market during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The high adoption due to convenience is the key driver of the market. Surgical robots have gained significant attention in the healthcare industry due to their ability to enhance surgical precision during procedures. Equipped with high-definition cameras, these advanced technologies enable surgeons to perform surgeries with greater control and dexterity, resulting in more precise movements and improved surgical outcomes. This is particularly beneficial for outpatient surgeries and ambulatory surgery centers, where minimally invasive procedures are increasingly preferred. The use of surgical robots can lead to reduced complications, improved patient safety, and potential cost savings for Medicare and other healthcare providers.
Furthermore, the ergonomic design of surgical robots helps alleviate surgeon fatigue by providing better instrument control and eliminating hand tremors, potentially leading to superior surgical results in the urological surgery segment, as well as general surgery and gynecological surgery.
The high demand from developing countries is the upcoming trend in the market. Surgical robots have gained significant traction in the healthcare sector, particularly in developing countries, as they offer potential solutions to address the scarcity of specialized surgeons. In nations like India and Brazil, these advanced technologies are increasingly being adopted to enhance the quality of healthcare services and improve patient outcomes.
Similarly, equipped with high-definition cameras, surgical robots enable precise and minimally invasive procedures, which are increasingly popular in outpatient and ambulatory surgery centers. This trend is especially prevalent in urological, gynecological, and general surgery segments. Surgical errors can be minimized through the use of these advanced systems, making them an attractive investment for healthcare providers. As Medicare and other insurance providers continue to prioritize cost-effective and efficient healthcare solutions, the demand for surgical robots is expected to grow.
The cost and affordability associated with surgical robots is a key challenge affecting the market growth. Surgical robots have become increasingly popular in the healthcare sector due to their ability to enhance precision and flexibility during complex procedures. HD cameras integrated into these robots provide superior visualization, leading to improved surgical outcomes. However, the high cost of acquiring and maintaining surgical robots remains a significant barrier for hospitals and ambulatory surgery centers. The initial investment and ongoing expenses for training, maintenance, and instrument sterilization can be substantial. Regular maintenance is essential to ensure optimal performance and prolong the life of the robotic systems. This includes routine inspections, software updates, and calibration checks, which may incur additional costs such as service contracts or technician fees.
However, despite these expenses, the benefits of surgical robots, particularly in outpatient surgery and segments like urological surgery and general surgery, have led to their increasing adoption in ambulatory surgery centers. Medicare and other insurance providers recognize the value of these advanced technologies and may cover some of the costs associated with their use. Surgical errors can be costly and potentially life-threatening, making the investment in surgical robots a worthwhile consideration for healthcare organizations seeking to provide the highest level of patient care.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asensus Surgical US Inc: The company offers surgical robots such as performance-guided surgery which is next-level technology that revolutionizes what's possible.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Surgical robots have revolutionized the healthcare industry with their precision and minimally invasive capabilities, particularly in outpatient and ambulatory surgery settings. These advanced systems, equipped with high-definition cameras, enable physicians and surgeons to perform complex procedures with enhanced visualization and control. Ambulatory surgery centers, hospitals, and clinics have increasingly adopted surgical robotic systems to offer patients faster recovery times and reduced scars. The market for surgical robots is witnessing significant growth due to the increasing number of outpatient surgeries, including urological, general, gynecological, neurosurgery, and oncology procedures. The urological surgery segment is expected to dominate the market due to the high demand for minimally invasive procedures in treating bone degenerative diseases such as arthritis, osteoporosis, and joint replacements.
In conclusion, surgical robots are also gaining popularity in the treatment of chronic diseases like cancer, cardiac conditions, and neurological disorders. The market is further fuelled by the miniaturization of surgical instruments and accessories, allowing for more precise interventions on soft tissues and bones. Healthcare providers are increasingly adopting surgical robotic systems to offer minimally invasive surgeries for various conditions, including hernia repair, cholecystectomy, adrenalectomy, small bowel resection, and rectal prolapse. The replacement rate for primary hip replacement and primary knee replacement surgeries is also expected to increase due to the benefits offered by surgical robots.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.17% |
Market growth 2024-2028 |
USD 14.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
20.98 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Johnson and Johnson Services Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc, United Orthopedic Corp., Virtual Incision, and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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