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The Global Surgical Robots Market size is forecast to increase by USD 7,892.61 million between 2022 and 2027 at a CAGR of 20.67%. The growth of the market depends on several factors, including high adoption due to convenience, mergers, and acquisitions among players, and high investment in R&D.
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Surgical robots are advanced medical devices that assist surgeons in performing various surgical procedures with enhanced precision, control, and flexibility. These machines are used in various surgical specialties, including urology, gynecology, general surgery, cardiovascular surgery, and orthopedics.
Our researchers analyzed the data with 2022 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 rate due to convenience is a key driver for the growth of the market. Hospitals are increasingly adopting these devices because they offer improved surgical precision. These robots provide surgeons with greater control and dexterity, enabling more precise movements during procedures.
The medical industry benefits significantly from such machines, leading to better surgical outcomes, reduced complications, and improved patient safety. They are designed to reduce strain on surgeons by providing better instrument control and eliminating hand tremors, resulting in reduced blood loss, less pain, shorter hospital stays, and faster patient recovery times. As a result, these factors are expected to fuel the growth of the global market during the forecast period.
The growing demand for surgical robotics technology in developing countries is a primary trend in the market. As healthcare systems in these nations strive to enhance patient outcomes and improve the quality of healthcare services, they are seen as promising tools to achieve these objectives. Countries like India and Brazil often face a shortage of highly skilled surgeons, particularly in specialized areas.
These robots can help tackle this issue by providing a platform for training and skill development. With simulation capabilities, surgeons can practice complex procedures in a controlled environment, enhancing their proficiency before performing surgeries on real patients. Moreover, some developing countries are actively promoting medical tourism to boost their economies. Investing in surgical robotics can attract patients seeking advanced healthcare services, offering a competitive advantage and potentially boosting the growth of the global market during the forecast period.
The cost and affordability pose a significant challenge to the growth of the global surgical robot market. Despite the increasing popularity of these robots in the healthcare sector, their high expenses can be a major hindrance to market expansion. Several factors contribute to the high cost of these robotic devices. Firstly, there is a substantial initial investment required to acquire the technology. Additionally, ongoing expenses for training, maintenance, and instrument sterilization add to the overall cost. Regular maintenance and servicing, including periodic inspections, software updates, and equipment calibration, are necessary to ensure optimal performance and longevity of the robots.
As a result of these factors, the global surgical robot market growth is expected to face obstacles during the forecast period. The high cost and associated affordability issues may negatively impact the adoption in the healthcare industry.
The Surgical Robots market analysis, monitored by organizations like the Agency for Healthcare Research and Quality and the Australian Institute of Health and Welfare (AIHW), addresses challenges such as arthritis & osteoporosis affecting joints. With a focus on financial resources and the rising demand for hip & knee replacement surgeries, entities like the Hip and Knee Society and the International Congress for Joint Reconstruction are pivotal. In the inpatient facilities segment, concerns regarding pain & blood loss prompt advancements in primary hip replacement procedures. Addressing the shortage of physicians and surgeons, innovations from institutions like The Regents of the University of California aim to improve outcomes while managing treatment costs in the U.S. market, catering to various types of arthritis.
The market share growth by the general and laparoscopy surgery segment will be significant during the forecast period. One of the main reasons that have significantly influenced the general and laparoscopy surgery segment is the advancement in technology. There has been an increasing demand and popularity across healthcare industries due to their various benefits.
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The general and laparoscopy surgery segment was valued at USD 963.73 million in 2017 and continued to grow until 2021. The advent of these robots has revolutionized the surgery field of minimally invasive surgery by providing surgeons with enhanced precision and visualization during procedures. One of the main features of a surgical robot is that it assists in performing complex laparoscopic procedures by providing a magnified 3D view and enhanced instrument maneuverability. Some of the key benefits of this device include reduced pain, minimal scarring, shorter hospital stays, and quicker return to normal activities. Additionally, robots can also be integrated with additional technologies like augmented reality, allowing surgeons to visualize patient-specific anatomical information during the procedure. Hence, such factors are expected to drive the growth of this segment which in turn will drive the growth of the global surgical robot market growth during the forecast period.
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North America is estimated to contribute 38% 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. There is an increasing adoption across the healthcare sector in North America due to their several benefits such as enhanced precision, improved dexterity, smaller incisions, reduced blood loss, and faster patient recovery times. For instance, According to the Centers for Disease Control and Prevention (CDC) statistics, as of 2020, about 133 million individuals in the US had one or more chronic disease conditions, of which around 80% of individuals had CVDs and chronic respiratory diseases. Hence, such factors are expected to drive the growth of this segment which in turn will drive the growth of the global surgical robot market growth during the forecast period.
The market 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 growth strategies.
Global Market 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 research report also includes detailed analyses of the competitive landscape of the market and information about 20 market players, including:
Qualitative and quantitative market research and growth 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest market trends and analysis and growth opportunities from 2017 to 2027.
The market is experiencing significant growth, driven by advancements in automated instruments and surgical robotic systems. Ambulatory surgical centers (ASCs) and outpatient segments are increasingly adopting these products for procedures like knee and hip replacement surgeries. These robots offer precise interventions for bone degenerative diseases such as osteoarthritis and osteoporosis, improving postoperative functional outcomes and reducing pain and blood loss. Conventional knee replacement procedures are being revolutionized by innovations like the Mako total knee replacement system, enhancing patient recovery periods and reducing the risk of infection and scars.
Despite the growing demand, challenges such as the shortage of physicians and skilled personnel persist. However, regulatory frameworks and reimbursement policies are evolving to support the integration of these robots into healthcare infrastructure. The trust and credibility associated with these advanced technologies are increasing patient volumes and treatment cost efficiency. With a focus on improving patient outcomes and addressing major disorders like arthritis, the market continues to expand, offering promising solutions for the future of surgical interventions.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.67% |
Market growth 2023-2027 |
USD 7,892.61 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
19.05 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical 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., Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., and Virtual Incision |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our Market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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