New York, July 03, 2023 (GLOBE NEWSWIRE) -- The Surgical Robotics Market will witness a robust CAGR of 15.7%, valued at USD 6.2 billion in 2022, expected to appreciate and reach USD 25.7 billion by 2032, confirms by Market.us.
Robotic surgery is also known as robot-assisted surgery which helps doctors to carry out several types of complex methods with more flexibility, precision, and control compared to the conventional methods. Robotic surgery is mainly done by minimally invasive surgery methods by tiny incisions on the body.
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Key Takeaway
- By component type, the accessory segment is anticipated to remain lucrative in the forecast period with a market share of 49%.
- By surgery type, the neurosurgery segment lucrative in the market in 2022 and is anticipated to be dominant in the forecast period.
- By end-user type, the hospital segment is lucrative in the market in 2022 with a market share of 73% and is anticipated to dominate in the forecast period.
- North America is most lucrative the market with the largest revenue share of 51% in 2022.
- Europe region acquired the market share with the highest revenue share of 21%.
- By region, the Asia Pacific region is anticipated to grow at a lucrative rate in the market share from 2023 to 2032.
The reduction of physicians and surgeons all over the world and increasing acceptance of automated instruments for surgery are key factors to increase the market growth. The increasing investments by regional and international players in new and developed technology of surgical robots highly & positively impacted the market growth. Furthermore, the rising acceptance of deteriorating bone disorders and rising replacement surgeries for hip and knee due to an increase in osteoporosis and arthritis cases are the key factors anticipated to boost the market growth.
Factors affecting the growth of the Surgical Robotics industry?
Several factors can affect the growth of the Surgical Robotics industry. Some of these factors include:
- A lot of benefits other than high cost: It gives great accuracy, short hospitalization time, better screening, decreased pain & discomfort, reduced blood flow, and less infection risk.
- Rising preference for Automation: Increased precision and no possibility of human error can help to increase the demand for automation which expand the market of surgical robotics.
- Advanced Technological Surgeries of Robotics: Technology such as 3D HD imaging sensors or cameras, technologies calculation in the robots, or remote navigation systems will help in increasing the dominance of robotics surgeries.
Top Trends in Global Surgical Robotics Market
The global surgical robotics market decreased by 7.7% in 2020 due to corona. Furthermore, the lockdowns in key markets across the world have negatively impacted the supply chain. Hence, barrier for surgical robot manufacturers in 2020. But, awareness of robotics for surgeries has increased after covid-19 owing to less human contact at the time of surgeries. This authorized increased research and surgical procedures teaching robotics are increasing which will boost the market.
Market Growth
Several economic factors such as a rising preference for automation, a lot of benefits, and several advanced technologies are anticipated to increase the market growth during the forecast period. Hence, these factors will propel the market growth of the global surgical robotics market.
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Regional Analysis
North America dominated the market share with the highest revenue of 51% in 2022. Hence, the less number of healthcarehttps://market.us/reports/healthcare/ professionals and surgeons in the US depending on the patient will also increase the surgical robots regional market. The acceptance of automated surgical equipment in the healthcare industry and the rising healthcare facilities in the US will boost the market in the region. Moreover, the increasing number of chronic diseases such as diabetes, cardiovascular diseases, and cancer in the U.S. speeding the dominance of automated surgical equipment is encouraging the growth of the market region.
The rising population and increasing dominance of the developed surgical automated devices of the APAC region will aid in the market growth in the forecast period. Furthermore, rising awareness to prevail in advanced medical technology, connected with increasing new healthcare amenities, is anticipated to boost the market growth. Increasing awareness of surgical robotics and the rising acceptance of surgical robots in this region is anticipated to grow the market in the forecast period.
Competitive Landscape
Emerging new key players are focused on a different strategic policy to increase their own businesses in several foreign markets. The significant market players are focusing on technology advancement, novel generation robotic equipment, and creating new equipment. Moreover, the rising demand for instruments that are automation of surgical equipment all over the globe to upgrade new companies in the global surgical robotics market. Furthermore, collaborations, mergers, and acquisitions are anticipated to grow its competition compared to the competitors.
The competitive landscape of the market has also been examined in this report. Some of the major players include,
- Zimmer Biomet Holdings Inc.
- TransEnterix Surgical, Inc.
- THINK Surgical Inc.
- Stryker Corporation
- Smith & Nephew Plc.
- Renishaw plc.
- Medtronic plc.
- Medrobotics
- Mazor Robotics
- KUKA AG
- Intuitive Surgical, Inc.
- CMR Surgical
- Auris Surgical Robotics, Inc.
- Accuray Incorporated
- Other Key Players
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | US$ 6.2 Bn |
| Market Size (2032) | US$ 25.7 Bn |
| CAGR (from 2023 to 2032) | 15.7% |
| North America Revenue Share | 51% |
| Europe Revenue Share | 21% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The surgical robotic market is predicted to increase because of the focus increasingly on the robotics schooling of doctors, technological development, and the increasing number of geriatric individuals. As there is an increase in the approval and need for laparoscopic or less invasive surgeries. These will be robotics new inventions due to the prevalence of technologies akin to AI and cloud computing, which further will aid in advancing performance and human workload reduction. Hence, patients who know the advantages of surgeries will prefer surgical robots for surgeries. So, the surgical robot market is predicted to grow in the forecast period. It gives very high accuracy, reduced blood flow, good screening, decreased discomfort & pain, short hospitalization time, and reduced infection risk.
Market Restraints
Robot helper in surgeries is costlier than minimally invasive surgeries. Surgical mistakes at the time of surgeries are one of the key issues of public health. Because unsafe care at the time of surgical procedures can make the process complicated for 1 out of four patients. But, it is very useful in the American Congress of Gynecologists and Obstetricians which have robotic hysterectomy that we use for unusual and complex clinical conditions.
Market Opportunities
Developed technological surgeries of robotics and automation of the healthcare industry hence, further demand increases. Hence, the surgical robotics market is predicted to boost in the expected period. Moreover, there will be a start of novel significant robots that will help in reaching the rising end users’ demands with the ongoing development and research. Increasing injuries and accidents influencing accidents will stop the increase of the surgical robotics market. However, it will further help in the robots’ prevalence during the forecast. Technology such as 3D HD imaging sensors or cameras, and technologies calculation in the robots or remote navigation systems will support in increasing the dominance of robotics surgeries. Developing nations like India, China, and Brazil will aid to increase growth outcomes for the surgical robotics market. Different industrial strategies that are significantly used by the international key players will support and increase market growth.
Report Segmentation of the Global Surgical Robotics Market
Component Insight
Based on components, the accessory segment is the top dominant in the global surgical robotics market. The increase in the geriatric population and chronic diseases such as HIV AIDS, diabetes, and arthritis will further increase robotics use. The surgical robotics market is based on components segmented into accessories, systems, and services. The Services segment is expected to grow nicely due to a rise in robot-assisted surgeries over the world.
Surgery Insight
Based on surgery, the neurosurgery segment is anticipated to be the most dominant segment in the global surgical robotics market. Because there is a high prevalence amount of neuro surgeries in robots compared to traditional methods. Moreover, technological advancements and neuro robot surgeries have high-accuracy outcomes. The market is based on surgery further divided into gynecology surgery, neurosurgery, general surgery, orthopedic surgery, urology surgery, and other surgeries.
End-User Insight
Based on end-user, the hospital segment is anticipated to be the most dominant segment in the global surgical robotics market, with the highest revenue share of 73% and an anticipated to rise with a very high CAGR during the forecast period. Surgical robots for hospitals will help in productive patient care. The market is segmented based on end-user into Ambulatory Surgical Centers and Hospitals.
To Get Additional Highlights On Major Revenue-Generating Segments, Request a Surgical Robotics Market Sample Report At: https://market.us/report/surgical-robotics-market/request-sample/
Market Segmentation
Based on Component
- Accessories
- Systems
- Services
Based on Surgery
- Gynecology Surgery
- Neurosurgery
- General Surgery
- Orthopedic Surgery
- Urology Surgery
- Other Surgeries
Based on End-User
- Ambulatory Surgical Centers
- Hospitals
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Global Surgical Robotics Market
- In 2022, BGS increased its land in WIehel to gain the increased need for services like sterilization in the sector of diagnostics, medicine, and biotechnology from the radiation of cross-linking.
- In 2022, Sterigenics increased its electron facility beam positioned in Columbia City of Indiana. These give E-beam which is a critical mission of sterilization services to guarantee drug products’ and medical devices.
Browse More Related Reports
- Motion Control Software in Robotics Market Size Was To Reach USD 11 Billion In 2022 And is projected to reach a revised size of USD 60 Billion By 2032
- Surgical Procedures Volume Market is projected to reach USD 32,320.53 Mn by 2032 at a CAGR of 5.5%, from USD 18,921.43 Mn in 2022.
- Minimally Invasive Surgical Instrument Market was valued at USD 19,796 mn in 2021. It is expected to grow at a CAGR of 10.1% in 2022-2032.
- Surgical Gloves Market is projected to be USD 1,213.6 Mn in 2022 to reach USD 2,252.3 Mn by 2032 at a CAGR of 7.1%
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