Surgical Robotics Market Size to Reach USD 28.54 Billion by 2031 at 13.7% CAGR| The Insight Partners
Surgical Robotics Market Size and Forecast 2021 – 2031, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Instruments and Accessories, Robotic Systems, and Services], Application, Material, End User and Geography.
US & Canada, Nov. 26, 2024 (GLOBE NEWSWIRE) — According to a new comprehensive report from The Insight Partners, global surgical robotics market is observing significant growth owing to a surging number of surgical procedures and a growing prevalence of chronic diseases.
The surgical robotics market analysis focuses on various products that are expected to play a vital role in market growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
The report from The Insight Partners, therefore, provides several stakeholders—including surgical robotics manufacturers, surgical robotics distributors, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
Click Here to Access a Sample Report of the Global Surgical Robotics Market @ https://www.theinsightpartners.com/sample/TIPRE00010948/
Overview of Report Findings
- Market growth: The surgical robotics market value is expected to reach US$ 28.54 billion by 2031 from US$ 10.25 billion in 2023; it is anticipated to register a CAGR of 13.7% from 2023 to 2031. Surgical robotics involves the use of robotic systems and technologies to assist in performing surgical procedures. These robotic systems enhance surgeons’ precision, control, and flexibility during operations. Typically, they consist of robotic arms, advanced visualization systems, and specialized instruments, allowing surgeons to conduct minimally invasive procedures with high accuracy and reduced risk of human error. Surgical robotics can be utilized for various medical procedures, including but not limited to general surgery, urology, gynecology, orthopedics, and cardiovascular surgery. For example, the da Vinci Surgical System, a prominent surgical robotics, enables surgeons to control robotic arms with high precision from a console.
- Surging Number of Surgical Procedures: The number of surgeries performed across the globe is growing owing to an increase in the geriatric population and the rise in the prevalence of chronic diseases. The adoption of surgical robots improves the outcomes of the surgeries as it reduces post operative pain, offers minimally invasive surgical options, lowers complications, and offers faster recovery. Thus, to enhance patient care, reduce the burden on surgeons, and improve surgical outcomes, many healthcare organizations are adopting surgical robots. As per the American College of Rheumatology, every year, ~790,000 total knee replacements and 544,000 hip replacements are performed in the US; the figure is expected to grow with the rise in the geriatric population in the country. In complex cases, a robotic-assisted joint replacement offers an improved balance in the soft tissues around the joint, along with better alignment, compared to traditional surgery. Furthermore, hysterectomy is another common procedure conducted by surgical robots. A traditional hysterectomy requires open surgery with a large incision in the lower abdominal area, several days in the hospital, and weeks or months of recovery. However, with robotic surgery technology, hysterectomies are completed through a one-inch incision in the abdomen. Single-site hysterectomy offers significant advantages for patients, including quicker recovery, shorter hospital stay, less blood loss, less pain, lower risk of complications, reduced need for narcotic pain medicine, and smaller incisions resulting in minimal scarring. As per the Centers for Disease Control and Prevention (CDC), in 2021, 14.6% of women aged 18 and older had undergone hysterectomy. The percentage of women who have had a hysterectomy increased with age, from 2.8% for women aged 18–44 to 22.1% for women aged 45–64, 35.0% for women aged 65–74, and 41.8% for women aged 75 and older. According to Healthcare Cost and Utilization Project data and the US Food and Drug Administration 2022, ~611,000 ventral and 1 million inguinal hernia repairs are performed every year in the US. These surgeries are estimated to be ~20 million a year, making hernia repair one of the most commonly performed general surgery procedures across the globe. Robotic surgery can repair hernias or can rebuild the entire abdominal wall. Thus, the growing number of surgeries drives the market for surgical robotics.
- Growing Prevalence of Chronic Diseases: In the last 25 years, the incidence of chronic diseases has increased worldwide owing to lifestyle changes, which result in a rise in the number of surgeries. For instance, colorectal cancer is one of the most commonly found and lethal cancers developed in individuals due to the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer was identified as the third most common cancer and the second highest death-causing cancer, with ~1,926,425 global cases in 2022. Furthermore, the mortality and incidence rates of this cancer vary worldwide, and approximately 904,019 deaths in 2022 were associated with it. Colorectal cancer is the third most common type of cancer in men and the second most common cancer in women. Robotic surgery offers improved ergonomics and optics for the operating surgeon owing to the unique wristed instruments. Robotic-assisted surgeries allow precision, minimally invasive options, and better patient outcomes, making it a preferred surgery option for colorectal cancer. Therefore, the increasing incidences of colorectal cancer have resulted in the surging demand for surgical robots. Further, according to the 2021 National Health Statistics Reports from the Centers for Disease Control and Prevention, the incidence of obesity has reached 41.9% among adults and 19.7% among children and adolescents aged 2–19 years old. It has been stated that severe obesity, corresponding to a body mass index (BMI) of 40 or higher, is present in 9.2% of adults in the US. Robotic surgery for obesity has advantages over conventional surgery owing to its 3D vision and precise, intuitive multi-range instruments that add more safety to the patients. Thus, the rise in the prevalence of chronic conditions fuels the surgical robotics market growth.
- Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
Report Scope & Segmentation-
Report Coverage | Details | ||
Forecast Period | 2024-2031 | ||
Forecast Period 2023 to 2030 CAGR | 13.7 | % | |
2031 Value Projection | US$ 28.54 Billion | ||
Base Year | 2023 | ||
Proposal Management Software Market Size in 2023 | US$ 10.25 Billion | ||
Historical Data for | 2021-2022 | ||
No. of Pages | 247 | ||
Segments covered | By Material, By Thickness, & By Application |
Request a Customized Copy of the Surgical Robotics Market Report @ https://www.theinsightpartners.com/inquiry/TIPRE00010948
Market Segmentation
- Based on type, the surgical robotics market is segmented into instruments & accessories, robotic systems, and services. The instruments & accessories segment held the largest share of the market in 2023.
- By application, the surgical robotics market is segmented into general surgery, orthopedic surgery, neurosurgery, urological surgery, cardiovascular surgery, gynecological surgery, thoracic surgery, and others. The general surgery segment dominated the market in 2023.
- In terms of material, the surgical robotics market is categorized into plastics, metal, and aluminum. In 2023, the metal segment dominated the market.
- In terms of end user, the surgical robotics market is categorized into hospitals, ambulatory surgical centers, and others. In 2023, the hospitals segment dominated the market.
- The surgical robotics market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.
Competitive Strategy and Development
- Key players: A few of the major companies operating in the surgical robotics market are STERIS, Stryker, Medtronic, Renishaw, Johnson & Johnson, CMR Surgical, Smith & Nephew Plc,Zimmer Biomet, Intutive Surgical Inc, THINK Surgical Inc and Titan Medical Inc.
- Trending topics: Enhanced telemedicine and remote surgery, robotics in complex and high-risk surgeries, robotic-assisted training and simulation, robotic-enhanced rehabilitation, and AI and machine learning integration.
Get full details of Surgical Robotics Market Report @ https://www.theinsightpartners.com/reports/surgical-robotics-market/
Headlines on Surgical Robotics
- THINK Surgical Receives FDA 510(k) Clearance for Use of LinkSymphoKnee Implants with TMINI Miniature Robotic System
- Intuitive Surgical secured FDA 510(k) clearance for its next-generation da Vinci 5 multiport surgical robotics system
- Asensus Surgical announced that agreed to a deal in which Karl Storz will acquire it for 35¢ per share in cash.
- Medtronic is initiating additional clinical studies of its Hugo robotic-assisted surgery system to expand its indications to hernia and gynecology.
Buy this Premium Surgical Robotics Market Research Report | Fast Delivery Available – https://www.theinsightpartners.com/buy/TIPRE00010948/
Conclusion
The growth of the surgical robotics market is primarily driven by the increasing demand for minimally invasive procedures. These procedures offer benefits such as smaller incisions, faster recovery times, and reduced complications. Key factors contributing to the market expansion include advancements in robotic technology, improved precision, and the capability to perform complex surgeries with greater accuracy. The market is also benefiting from the integration of artificial intelligence (AI) and machine learning, which enhance real-time decision-making and predictive analytics. Major players in the industry, such as Intuitive Surgical, Medtronic, and Johnson & Johnson, dominate the landscape, while new entrants and innovative start-ups continue to introduce next-generation robotic systems. Additionally, the rise of remote surgeries and robotic-assisted training platforms is further fueling the market growth. As costs decline and accessibility improves, robotic surgery is becoming increasingly common.
Browse More Related Reports:
Surgical Sutures Market Size Overview, Growth, Trends, Analysis, Research Report 2021-2031
Surgical Scalpel Market Size Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031
Surgical Retractors Market Size Forecast and Growth 2031
Exoskeleton Robotic System Market Size Demand & Growth by 2028
Surgical Gloves Market Size, Share, and Forecast 2021-2031
Surgical Visualization System Market Size and Forecasts 2021 – 2031, Global and Regional Share, Trends, and Growth Opportunity Analysis
Surgical Robotics Care Device Market Size and Forecasts 2021 – 2031, Global and Regional Share, Trends, and Growth Opportunity Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/surgical-robotics-market
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.