DUBAI, UAE, Jan. 31, 2024 /PRNewswire/ -- According to the latest report by Kings Research, the Global Surgical Robots Market was valued at USD 3.98 billion in 2022 and is projected to reach USD 14.31 billion by 2030, growing at a17.46% CAGR from 2023 to 2030. The demand for surgical robots is escalating due to the growing preference for minimally invasive surgeries, which promise quicker recoveries and better results. These robots, known for their precision and agility, are essential in various medical fields. The aging population and rising chronic diseases further contribute to market expansion. Integrating artificial intelligence and machine learning into robotic surgeries presents significant growth opportunities, especially as procedures become more complex. Furthermore, incorporating robotic-assisted surgery into emerging medical specialties like urology and gynecology presents lucrative market growth opportunities.
Surgical robots are sophisticated instruments employed by surgeons to boost precision and reduce invasiveness in operations. They operate either remotely or autonomously, depending on the system in use. These robots, equipped with sensors, robotic arms, and specialized instruments, excel in executing precise and intricate tasks. Their applications span across diverse medical fields such as general surgery, orthopedics, neurosurgery, gynecology, urology, and cardiovascular surgery.
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Trending Now: Apollo Unveils da Vinci Xi: Elevating Precision and Patient Outcomes in Complex Surgeries
In April 2023, Apollo introduced the da Vinci Xi robotic surgical system, a cutting-edge technology designed for complex surgeries. Boasting precision and control, this advanced system aims to elevate patient outcomes. Apollo's strategic product launch was geared toward fortifying its position as a leader in healthcare innovation and enhancing its capabilities in the realm of minimally invasive surgeries.
Competitive Landscape
Key players in the surgical robots industry are employing various business tactics, including partnerships, mergers and acquisitions, product innovations, and joint ventures, to broaden their product portfolios and enhance market shares in diverse regions. Their expansion and investment initiatives encompass a spectrum of strategic activities, such as investments in research and development (R&D), establishing new manufacturing facilities, and optimizing supply chain processes.
For instance, in July 2023, The Royal College of Surgeons (RCS) England joined forces with Intuitive, a prominent company in robotic-assisted surgery. This partnership was intended to shape the future of surgical robotics by improving surgical training and education, establishing guidelines and standards, and fostering advancements in robotic-assisted surgery. The ultimate goal of this deal was to bring benefits to both patients and healthcare providers.
Major players profiled in the global surgical robots market include:
- Intuitive Surgical, Inc.
- Medtronic plc
- Stryker Corporation
- Zimmer Biomet
- CMR Surgical
- TransEnterix
- Johnson & Johnson
- Titan Medical Inc.
- Accuray Incorporated
- Medrobotics Corporation
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Precision and Minimal Invasiveness in Gynecological Surgeries to Boost Surgical Robots Market Growth
Based on application, the market has been segmented into general surgery, orthopedic surgery, neurosurgery, gynecological surgery, urological surgery, cardiovascular surgery, and other specialties.
The gynecological surgery segment holds a prominent position in the surgical robots market. Surgical robots have demonstrated remarkable effectiveness in gynecological procedures such as hysterectomy and myomectomy, where precision and delicate tissue handling play a critical role. Given the surging rate of these procedures and the increasing demand for minimally invasive options that offer faster recovery times, the market for such robotic solutions is expanding substantially.
Growing Use of Surgical Robots in Hospitals and Clinics to Drive Market Expansion
Based on end-user, the surgical robots market has been categorized into hospitals and clinics, ambulatory surgical centers, and others.
The hospitals and clinics segment is projected to experience the fastest growth over the forecast period. Serving as the primary settings for surgical procedures, these establishments are well-suited for the adoption of sophisticated and costly medical technologies like surgical robots. Typically, such advanced equipment is housed in well-equipped hospitals and specialized clinics that possess the necessary resources, infrastructure, and skilled surgical teams to effectively leverage the capabilities of surgical robots.
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Escalating Demand for Minimally Invasive Surgeries to Spur Surgical Robots Market Development
A primary driving factor for the growth of the market is the escalating demand for minimally invasive surgery (MIS). The preference for MIS procedures, characterized by smaller incisions, reduced pain, shorter hospital stays, and quicker recovery times, is favored by both patients and surgeons. Surgical robots enhance the precision and dexterity required for MIS, leading to improved patient outcomes across various medical specialties. The rising demand for less invasive surgical options is propelling the widespread adoption of surgical robots.
Another pivotal factor influencing surgical robots market growth is the opportunity presented by the development and commercialization of cost-effective surgical robotic systems. Furthermore, the aging population and the growing prevalence of chronic diseases are aiding market expansion. Growth opportunities also lie in the integration of artificial intelligence and machine learning in robotic surgical procedures, addressing the increasing intricacy of such interventions. Additionally, the incorporation of robotic-assisted surgery into emerging medical specialties, including urology and gynecology, presents exciting prospects for development.
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Increasing Prevalence of Chronic Diseases in North America to Support Market Dominance
North America led the global surgical robots market in 2022, securing the highest valuation and market share. This dominance is due to the region's favorable reimbursement policies for robotic-assisted surgeries, acting as compelling incentives for hospitals and clinics to embrace these advanced systems. The elevated prevalence of chronic diseases and an aging population in the region are also fueling the demand for minimally invasive surgical options.
Burgeoning Healthcare Infrastructure in APAC to Bolster Surgical Robots Industry Revenue
Asia Pacific is poised to witness remarkable growth in the surgical robots market, depicting the highest CAGR from 2023 to 2030. This surge can be attributed to the presence of a robust healthcare infrastructure in emerging economies such as China and India, augmented healthcare expenditure, and a rising demand for cutting-edge medical technologies. The appeal of surgical robots lies in their ability to provide precision and minimize invasiveness, aligning seamlessly with the complex healthcare requirements of the region. Additionally, collaborative efforts between local healthcare institutions and global leaders in robotic surgery contribute significantly to the widespread adoption of surgical robots in the APAC region.
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Key Points from TOC:
1 Introduction of The Global Surgical Robots Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 Executive Summary
3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
4 Global Surgical Robots Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
5 Impact of Russia-Ukraine War
6 Global Surgical Robots Market, By Application
7 Global Surgical Robots Market, By Product Type
8 Global Surgical Robots Market, By End-User
9 Global Surgical Robots Market, By Geography
10 North America
11 Europe
12 Asia-Pacific
13 Middle East & Africa
14 Latin America
15 Global Surgical Robots Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
16 COMPANY PROFILES
16.1 Intuitive Surgical, Inc.
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Medtronic plc
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Stryker Corporation
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Zimmer Biomet
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 CMR Surgical
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Continued………..
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