The global surgical robotics market was valued at USD 1,463 million in 2018 and is expected to grow to USD 22,381.6 million by 2032 , growing at a CAGR of 21.5% over the forecast period (2018-2032) . North America led the market in 2018, accounting for 71.46% of the overall share . The market growth is primarily driven by the rising demand for minimally invasive surgeries, aging population, and increasing prevalence of chronic diseases.
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Development of major industries
In May 2018, Intuitive Surgical Inc. received FDA clearance in the U.S. for the da Vinci X Surgical System. This innovative system delivers advanced urological surgical procedures using a single-port approach, marking a major leap forward in robotic-assisted surgery.
Market leader
- Intuitive Surgical Co., Ltd.
- Medtronic
- striker
- Smith & Nephew
- Zimmer Biomet
- TransEnterix Surgical Co., Ltd.
- Verb Surgical 社
- Think Surgical Co., Ltd.
- Other notable players
Market Drivers and Restraints
Market Drivers
The growing demand for minimally invasive surgery (MIS) has significantly driven the adoption of surgical robots. The benefits of robotic-assisted surgery such as reduced hospital stay, reduced risk of infection, and improved precision are driving the market growth.
This market expansion is further fuelled by technological advancements in artificial intelligence (AI), machine learning and robotics, which enable greater automation and improved surgical outcomes.
Market Constraints
Despite the huge growth potential, the high costs associated with surgical robotics pose a major challenge, as many healthcare facilities, especially in emerging economies, face financial constraints in acquiring and maintaining these advanced systems.
Additionally, concerns about technical errors, mechanical failures, and the need for skilled professionals to operate robotic systems are barriers to widespread adoption.
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Market Report Coverage
The Surgical Robots Market report includes a detailed analysis of the industry landscape, including growth drivers, market challenges, and competitive insights, as well as highlights the trends influencing the market expansion and provides a regional assessment.
Market Competitive Environment
The key players in the market are actively investing in research and development (R&D) to introduce technologically advanced surgical robots. Strategic collaborations, mergers, and acquisitions are common among the key players to strengthen their position in the market.
Medtronic, for example, is developing a robotic-assisted surgery system called Hugo to compete with Intuitive Surgical’s da Vinci system, and companies such as Stryker and Zimmer Biomet are also focusing on robotic-assisted orthopedic surgery.
Market Segments
Based on application, the general surgery segment is expected to dominate the market during the forecast period. The versatility of surgical robots in performing complex surgeries across various medical specialties, such as gynecology, urology, cardiology, etc., is driving the demand for them.
Market Region Insights
North America: This region accounts for the largest market share owing to the presence of major players, favorable reimbursement policies, and high adoption of advanced surgical techniques.
Europe: Europe is following suit, with increased investment in healthcare infrastructure and a growing elderly population requiring surgical interventions.
Asia Pacific: The market is growing rapidly in this region due to improving healthcare facilities, rise in medical tourism, and increasing number of patients seeking robotic-assisted surgeries.
Latin America and Middle East: Though the market share in these regions is small, the continued development of healthcare infrastructure and growing awareness towards robotic surgery is expected to drive future growth.
Future Market Coverage
With continued innovation in the integration of robotics and AI, the future of the surgical robotics market looks promising. Companies are exploring the possibility of remote surgery, where surgeons can use robotic systems to perform procedures from different locations.
Furthermore, the introduction of 5G technology in the healthcare sector will enable real-time, high-speed data transmission, further enhancing robotic-assisted surgery.
As the demand for precision surgery continues to rise, the market is expected to expand significantly as new companies enter the field and incumbents improve their offerings to stay competitive.
The surgical robotics market is revolutionizing the healthcare industry by increasing surgical precision, shortening recovery time, and improving patient outcomes. Driven by technological advancements and the growing demand for minimally invasive surgeries, this market is expected to witness significant growth over the next few years.
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Frequently Asked Questions (FAQ)
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