Surgical Robots Market Size Forecast Report 2024-2032

By
Annaya Mishra
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Global Surgical Robots Market Report: Insights by Component, Area of Surgery, and Key Players (2024-2032)

Global Surgical Robots Market Size

The Surgical Robots Market is projected to exceed $11.85 billion by 2032, up from $7.05 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.95% from 2024 to 2032. This growth is driven by advancements in robotic-assisted surgery and increasing global adoption.

Surgical Robots Market Outlook

Surgical robots are sophisticated systems designed to assist surgeons with precise, minimally invasive procedures. Equipped with mechanical arms controlled via computer consoles, these robots enable enhanced accuracy and faster patient recovery. They are utilized across various specialties, including urology, gynecology, orthopedics, and general surgery. Key benefits include smaller incisions, reduced pain, shorter hospital stays, and quicker recovery compared to traditional surgical methods.

Driving Forces for the Surgical Robots Market

  1. Technological Advancements
    • Innovations in robotics, artificial intelligence, and miniaturization have transformed surgical procedures. Modern surgical robots offer features like real-time imaging, 3D visualization, and precision robotic arms, allowing for greater flexibility and accuracy during operations. This technological evolution enhances the ability to perform delicate procedures with minimal invasiveness, leading to better outcomes and safety, and driving demand for surgical robots across various medical specialties.
  2. Rising Demand for Minimally Invasive Surgeries
    • The growing preference for minimally invasive surgeries is a significant factor in the surgical robots market’s expansion. These procedures provide notable benefits, including reduced pain, faster recovery, and shorter hospital stays compared to traditional open surgeries. By minimizing tissue damage and scarring, minimally invasive techniques improve patient outcomes and surgical efficiency, leading to increased demand for advanced surgical robots capable of executing precise operations.
  3. Increasing Aging Population and Chronic Diseases
    • The expanding global elderly population, coupled with a rising prevalence of chronic diseases, is fueling demand for advanced surgical solutions. Older adults and patients with chronic conditions often require intricate surgeries, making surgical robots an appealing option. These robots facilitate high-accuracy procedures for various conditions, including cancer, cardiovascular diseases, and orthopedic issues, thus driving their adoption.

Asia-Pacific Market Expansion

The surgical robots market in the Asia-Pacific region is rapidly growing due to technological advancements, increased healthcare spending, and a shift toward minimally invasive procedures. Leading countries in this expansion include China, Japan, South Korea, and India. Factors such as China’s large population and healthcare reforms, Japan’s investment in high-tech surgical solutions, South Korea’s expertise in robotics, and India’s evolving healthcare infrastructure are all contributing to the robust growth of the surgical robots market in this region.

Company Overview

Key players in the global surgical robots market include:

  • Intuitive Surgical Inc.
  • Stryker Corporation
  • Johnson & Johnson
  • Renishaw PLC
  • Accuray Incorporated
  • Titan Medical Inc.
  • Medtronic PLC
  • Smith & Nephew PLC
  • Zimmer Biomet

Recent Company Developments

  • August 2022: THINK Surgical, Inc. announced a partnership with Curexo, Inc. to advance orthopedic surgical robots.
  • June 2022: Intuitive Surgical received FDA approval to integrate mobile cone-beam CT imaging with the Ion Endoluminal System for robotic-assisted bronchoscopy.
  • January 2022: CMR Surgical’s Versius robotic system was successfully utilized for high-volume urological procedures at the Sindh Institute of Urology and Transplantation (SIUT) in Pakistan.

Market Segmentation

Component (Global Surgical Robots Market):

  1. Surgical System
  2. Accessory
  3. Service

Area of Surgery:

  1. Gynecological Surgery
  2. Cardiovascular Surgery
  3. Neurosurgery
  4. Orthopedic Surgery
  5. Laparoscopy
  6. Urology
  7. Other Areas of Surgery

Geography:

  • North America: United States, Canada
  • Europe: France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey
  • Asia Pacific: China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand
  • Latin America: Brazil, Mexico, Argentina
  • Middle East & Africa: South Africa, Saudi Arabia, United Arab Emirates

Company Insights

The analysis of leading companies includes:

  • Overviews
  • Recent Developments & Strategies
  • Product Portfolio & Product Launches in the Last Year
  • Revenue Insights

Related Reports

Company Analysis:

  1. Intuitive Surgical Inc.
  2. Stryker Corporation
  3. Johnson & Johnson
  4. Renishaw PLC
  5. Accuray Incorporated
  6. Titan Medical Inc.
  7. Medtronic PLC
  8. Smith & Nephew PLC
  9. Zimmer Biomet

About Renub Research

Renub Research is a market research and information analysis firm with over 15 years of experience in research, surveys, and consulting. Our insights assist companies in strategic decision-making, including strategy, organization, operations, technology, and mergers & acquisitions. We have published over 9,000 syndicated reports and worked on more than 750 custom research projects, supplying data to EMIS, Bloomberg, Thomson Reuters, and other blue-chip companies.

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