Robot-Assisted Surgery Market Size, Share & Trends Analysis Report, By Application (Orthopedics, Neurology, Urology, Gynecology), By Product Type (System, Consumable and Accessories, and Software and Services), by End User (Hospitals, Ambulatory Surgery Centers, and Other End Users) and by region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Robot Assisted Surgery Market Overview
The global Robot-Assisted Surgery Market size is USD 94481.05 million in 2021 and is projected to reach a CAGR of 16.69% from 2023-2030.
The term "robotic-assisted surgery" refers to the process of carrying out operative procedures with the assistance of robotic technology. Telemanipulators, which rely on a surgeon's actions to direct the "effector" on the opposite side, typically make use of robotic-assisted systems. For minimally invasive, remotely controlled procedures, a robotic system ensures precision.
The market is being driven primarily by the growing use of automated surgical instruments and the worldwide shortage of doctors and surgeons. The market's expansion is also being aided by rising investments made by regional and international players in the introduction of cutting-edge surgical robots. In addition, the primary drivers of market expansion are anticipated to be the rising incidence of bone degenerative diseases and the rising number of hip and knee replacement procedures as a result of rising cases of arthritis and osteoporosis. Over 4,50,000 hip replacements are performed annually in the United States, according to a report from the Agency for Healthcare Research and Quality. The Australian Institute of Health and Welfare (AIHW) reports that the total knee replacement rate for osteoarthritis has increased by 38% between 2005-2006 and 2017-2018.
The increasing prevalence of chronic diseases, the rising preference for minimally invasive treatments, and the entry of new market players are the primary drivers of the market's expansion. Worldwide, cardiovascular diseases account for the majority of deaths and are the most common. Ischemic heart disease accounts for nearly 16% of global deaths, according to the World Health Organization's 2020 updates. The number of cardiopulmonary surgeries and coronary artery bypass grafting (CABG) surgeries is also rising due to the rising prevalence of cardiovascular diseases.
The adoption of automated medical instruments is also increasing, which is expected to further propel the market over the next few years. Technological advancements in the field of automated medical instruments include the combination of cameras, high-definition 3D imaging, computing technology, sensors, remote navigation technology systems, robotic controlled catheters, and other accessories used for medical surgeries.
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Because initial surgical procedures had to be postponed or delayed, the rising number of COVID-19 cases has had a significant impact on the robotic-assisted surgery market worldwide. In addition, a January 2021 article titled "Impact of the COVID-19 pandemic on oncological and functional robotic-assisted surgical procedures" states that the COVID-19 pandemic resulted in a reduction of 49% in oncological procedures and a reduction of 60% in robotic surgical procedures. Since the gas environment could facilitate viral dissemination, robotic-assisted surgery's safety was also uncertain. Consequently, taking into account all of the COVID-19 and post-COVID-19 effects, the studied market is anticipated to experience steady growth over the forecast period.
Delvens Industry Expert's Standpoint
Because surgical robots allow for precise manipulation of surgical instruments in a small operating room, these robots are utilized in minimally invasive procedures. The use of robots, also referred to as robot-assisted surgery, enables medical professionals to carry out a variety of intricate procedures with greater control, adaptability, and precision. Mechanical arms and camera arms with surgical instruments attached are two common clinical robotic surgical systems. During the forecast period, the demand for surgical robots or robot-assisted surgeries is anticipated to rise as a result of increased adoption of medical robotic systems as a result of technological advancements in systems like more efficient motors, compact and light materials, power back-up, sophisticated controls, safety mechanisms, and cost-effectiveness. Additionally, the global surgical robots’ market is likely to be driven by an increase in the number of surgeries performed worldwide and the use of robotic surgery for routine procedures.
Key Findings
- On the basis of application segment, the market is divided into urology, orthopedics, neurology, gynecology, and others. The surgical robots that are utilized in oncology, laparoscopy, and a variety of other general surgical procedures are included in the other segment. Over the forecast period, the neurosurgery segment is anticipated to expand at the fastest rate. It is anticipated that the segment's growth will accelerate significantly as a result of the growing use of surgical robots in neurosurgeries due to their advantages over conventional surgical methods.
- The product type market is further segmented into Systems, Consumable and Accessories, and Software and Services. Due to the widespread use of accessories during each surgical procedure, accessories dominated the global market for surgical robotics in terms of revenue. After each surgical procedure, the accessories are changed, which increases market revenue. Due to the rise in robot-assisted surgeries worldwide, services are anticipated to be the fastest-growing segment. This is because of the rising number of elderly people and chronic conditions like diabetes, HIV/AIDS, asthma, arthritis, and others.
- The end-user segment is further fragmented into Hospitals, Ambulatory Surgery Centers, and Other End Users. With the increasing adoption of surgical robots, hospitals are dominating the market and are expected to grow at a high rate over the forecast years.
Robot Assisted Surgery Market Regional Analysis
Asia Pacific to Dominate the Market
- Throughout the forecast period, the robotic-assisted surgery systems market as a whole is anticipated to be dominated by North America. The prevalence of chronic diseases and technological advancements in robotic-assisted surgery systems are the primary contributors to the expansion.
- Due to the growing number of patients and the growing use of advanced automated surgical instruments, the Asia-Pacific region is expected to expand at a profitable rate over the forecast period.
Robot Assisted Surgery Market Competitive Landscape
- Stryker Corporation
- Medrobotics
- Smith & Nephew
- TransEnterix Surgical, Inc.
- Renishaw plc.
- Intuitive Surgical
- Medtronic
- THINK Surgical, Inc.
- Zimmer Biomet
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Robot Assisted Surgery Market Recent Developments
- The FDA granted Auris Health, Inc., a subsidiary of Johnson & Johnson, approval for its Monarch robotic surgery system on May 2, 2022. The robot can be used to remove kidney stones thanks to the system.
- Amplitude Surgical and eCential Robotics announced a long-term partnership on April 26, 2022, to develop a joint robotic solution for knee surgery.
Reasons to Acquire in the Robot Assisted Surgery Market
- Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
- Gain authentic and granular data access for Robot-Assisted Surgery Market so as to understand the trends and the factors involved in changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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