Global Robotic Surgical Procedures Market Size to Grow at a CAGR of 18.70% in the Forecast Period of 2023-2028
The ‘Global Robotic Surgical Procedures Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global robotic surgical procedures market, assessing the market on the basis of its segments like applications, end-users, and major regions.
Robotic Surgical Procedures Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 5.86 billion
• Forecast CAGR (2023-2028): 18.70%
The growing shift from conventional manual surgical methods to automated surgical procedures is driving the global robotic surgical procedures market. Rapid digitalisation in the healthcare industry is supporting the use of robotic surgery in hospitals by enhancing operational efficiency in healthcare facilities.
Robot-assisted surgeries have many benefits, including shorter recovery times, less scars, less pain, and shorter hospital stays. These factors enable patients to resume their normal lives sooner. Accordingly, the market for robotic surgical procedures is expanding faster due to the growing public awareness of the advantages of these procedures.
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Significant improvements in robotics technologies over the past years have improved the accuracy and safety of robotic surgical procedures further, resulting in their increased applications. Some of the major advancements anticipated in the upcoming years are high-resolution cameras and self-powered computing gadgets. Artificial intelligence (AI) and machine learning (ML) will likely increase the precision and accuracy of robotic surgical operations, which will further improve the surgeries’ dependability and accelerate the robotic surgical procedures market growth.
A healthy rise is anticipated for Asia Pacific during the forecast period as a result of rising healthcare spending and digital initiatives being implemented by the governments of emerging nations like China and India.
Robotic Surgical Procedures Industry Definition and Major Segments
Robotic surgery, commonly referred to as robot-assisted surgery, is the practise of performing a surgery with a robotic surgical system. Various robotic components are integrated into a single system that is typically overseen by an operator. Robotic surgery can complete a range of operations faster, more precisely, and with better efficiency than is often possible with traditional surgical methods.
Based on application, the market can be divided into:
• General Surgery
• Gynaecology
• Urology
• Orthopaedics
o Knee
o Hip
o Spine
o Others
• Others
By end-user, the market can be bifurcated into:
• Hospitals
• Ambulatory Surgery Centres
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Robotic Surgical Procedures Market Trends
Applications for the robotic surgical procedures market are expanding for a variety of urological disorders, including prostate removal and urinary tract reconstruction, among others. With relatively low-risk and simple processes, they are ideal for robotics applications. The demand for robots in urological surgical procedures is likely to rise over the course of the forecast period due to the anticipated rise in the population of geriatrics with urological issues.
With robotic components making surgery less intrusive and therefore decreasing the risk of problems, the general surgery segment is anticipated to rise steadily during the forecast period. This benefit provided by the product is increasing patient awareness, which is boosting the robotic surgical procedures market growth.
Based on region, the market is dominated by North America, due to the favourable reimbursement policies of the governments of strong economies like the United States. The region’s highly developed healthcare infrastructure is making it easier to integrate robots into healthcare facilities, which is boosting the market for robotic surgical procedures. The prevalence of chronic cardiovascular disorders, which are spurred on by an increase in cases of obesity, is broadening the market’s opportunities.
Key Market Players
The major players in the global robotic surgical procedures market report are:
• Intuitive Surgical
• Stryker
• Smith & Nephew
• Accuray Incorporated
• CMR Surgical Ltd.
• Medtronic
• others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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