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A00709 | Pages: 235 | Charts: 71 | Tables: 104 |
The global surgical robotics market size was valued at $78.8 billion in 2022, and is projected to reach $188.8 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032. Surgical robots offer significant advantages in minimally invasive surgery by enabling exceptionally precise manipulation of surgical instruments within constrained operation spaces, surpassing human capabilities. Robotic surgery is a procedure which involves the minimally invasive spectrum and represents an evolution in practice across numerous disciplines. Surgical robotics technology is used across various medical specialties, enabling surgeons to perform complex procedures through small incisions, resulting in reduced patient trauma, shorter recovery times, and enhanced patient outcomes.
Increase in demand and acceptance of laparoscopic or minimally invasive surgery (MIS) due to the benefits to patients and surgeons, such as better screening, greater precision, shorter hospitalization, reduced pain and discomfort which fuels the market growth. In addition, the surge in number of gynecological, neurological and urological diseases is the main factor that drives the surgical robotics market growth.
In addition, surgical robotics enable minimally invasive procedures, which involve smaller incisions, reduced trauma to surrounding tissues, and quicker recovery times which propels the market growth. Patients are increasingly seeking procedures that result in less pain and shorter hospital stays, and surgical robots fulfill these demands which support the market growth. For instance, the Senhance Surgical System by TransEnterix is designed for minimally invasive surgeries. It enhances precision and control for procedures such as hernia repairs and gallbladder removal, leading to shorter hospital stays and faster recoveries. Thus, the rise in adoption of minimally invasive procedures fuels market growth.
Many surgical robotic systems incorporate advanced visualization technologies, such as high-definition 3D imaging and augmented reality. These technologies grant surgeons a clearer view of the surgical site, enhancing their ability to visualize complex anatomical structures and perform intricate tasks. The growth of the surgical robotics market is expected to be driven by availability of improved healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of chronic diseases, and surge in demand for advanced surgical robotics products.
Furthermore, the increase in need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries fuel market growth. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative surgical robotics market opportunity.
The demand for surgical robotics is not only limited to developed countries but is also being witnessed in the developing countries, such as China, and India, which fuel the growth of the market. Factors such as rise in the number of surgeries drive the adoption of robotic technologies across different specialties, contributing to the robust growth of the surgical robotics market. For instance, according to the National Center for Biotechnology and Information (NCBI), in 2022, around 1,918,030 new cancer cases are projected to occur in the U.S.
Furthermore, as the global population ages, there is a greater need for surgical interventions to address age-related health conditions which boost market growth. Surgical robots assist surgeons in handling the complexities of these procedures, allowing for safer and more effective outcomes in elderly patients. Moreover, initially limited to specific procedures, robotic technologies are now being adapted for a broader spectrum of surgeries across various medical fields, including cardiac, neurology, urology, gynecology, and more. This versatility attracts hospitals and clinics aiming to offer comprehensive robotic surgical services which is expected to drive the market growth.
High initial costs associated with acquiring and implementing robotic systems, including infrastructure and training, pose a financial challenge for many healthcare facilities which may impede market growth. Regulatory complexities and concerns regarding patient safety, as well as the need for rigorous clinical validation of robotic procedures, slow down the adoption process. In addition, the intricate nature of surgical robotics necessitates specialized training for surgeons, potentially leading to a shortage of skilled professionals. These factors collectively hinder the rapid expansion of the surgical robotics market.
Recessions may slow down the growth of the surgical robotics market due to financial constraints, cautious adoption, and shifting priorities. However, the extent of the impact depends on various factors, including the severity and duration of the recession, the overall healthcare spending environment, and the value proposition of robotic technologies in improving patient care.
The surgical robotics industry is segmented into component, surgery type, and region. By component, the market is categorized into systems, accessories, and services. On the basis of surgery type, the market is segregated into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The services segment dominated the global surgical robotics market share in 2022 and is expected to remain dominant throughout the forecast period, owing to rise in number of surgical robotics procedures performed as they provide the precision, accuracy, and improved patient outcomes, coupled with the increase adoption of surgical robotics technology .However, systems segment is expected to register the highest CAGR during the forecast period, owing to rise in technological advancements and increase in demand for advanced robotic surgical systems.
[COMPONENTGRAPH]
The general surgery segment dominated the global surgical robotics market share in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to versatility and effectiveness of surgical robotics in a wide range of genral surgery procedures, increase in patient demand for minimally invasive surgeries, and ongoing advancements in technology.
[SURGERYTYPEGRAPH]
The surgical robotics market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the surgical robotics industry in 2022 and is expected to maintain its dominance during the forecast period. The presence of several major players, such as Smith & Nephew Plc., Medtronic plc, and Stryker Corporation and advancement in manufacturing technology of surgical robotics in the region drive the growth of the market.
In addition, the presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption rate of advanced surgical robotics products are expected to drive the market growth. Furthermore, product launch, collaborations, and acquisitions adopted by the key players in this region boost the growth of the market.
[REGIONGRAPH]
Asia-Pacific is expected to grow at the highest rate during the surgical robotics market forecast period. The market growth in this region is attributable to the growing infrastructure of industries, rise in prevalence of chronic diseases, such as cancer and cardiovascular conditions, has driven the need for sophisticated surgical interventions, which surgical robotics provide. Moreover, the increase in awareness and acceptance of minimally invasive procedures among patients in the Asia-Pacific region along with the benefits offered by surgical robotics propels the market growth in this region.
Competitive analysis and profiles of the major players in surgical robotics, such as Smith & Nephew plc, Medtronic plc, Stryker Corporation, Intuitive Surgical, Inc., Renishaw plc, Midea Group Co., Ltd., Johnson & Johnson, Accuray Incorporated, CMR Surgical Ltd., and Zimmer Biomet Holding, Inc. There are some important players in the market such as Asensus Surgical US, Inc. and others. Major players have adopted product launch, collaboration and product approval as key developmental strategies to improve the product portfolio of the surgical robotics market.
Recent Product Launches in the Surgical Robotics Market
Recent Acquisition in the Surgical Robotics Market
Recent Collaboration in the Surgical Robotics Market
Recent Product Approvals in the Surgical Robotics Market
Key Market Segments
Key Market Players