Robotic Surgery Services Global Market Report 2024 - By Drivers, Size, Share, Demand, Outlook By 2033

The robotic surgery services market size has grown rapidly in recent years. It will grow from $1.01 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to rise in use of surgical robots, growth in the number of healthcare facilities, favorable government legislations and increased healthcare spending and rapid growth in the elderly population.

The robotic surgery services market size is expected to see rapid growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to increasing product launches, minimally invasive surgeries, increasing prevalence of chronic diseases and rise in healthcare expenditure. Major trends in the forecast period include in-vivo robots in surgery services, new technology development, increase in merger and acquisition activities, nanobots in surgery services and artificial intelligence in robotic surgery services.

Market Overview -
Robotic surgery is a form of minimally invasive surgery in which doctors insert a succession of extremely small incisions and tiny surgical equipment into a patient's body. Robotic surgery is the process of performing a surgery using tools that are attached to a robotic arm. It is used to perform surgery with high precision.

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Growth In Robotic Surgery Services Market Fueled By Hospital Investment
Increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. For instance, Intuitive Surgical, the robotic surgical giant, In 2022, approximately 1,875,000 surgical procedures were performed using da Vinci Surgical Systems, up from 18% compared with approximately 1,594,000 surgical procedures performed using da Vinci Surgical Systems, and revenues from da Vinci Surgical Systems in the fourth quarter were approximately $1.66 billion in 2022, up from 7% compared with $1.55 billion in 2021..Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of the robotic surgery services market.

Competitive Landscape -
Major companies operating in the robotic surgery services market report are Tenet Healthcare Corporation, HCA Healthcare, Inc, Asklepios Kliniken Verwaltungsgesellschaft Mbh, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Fortis Healthcare, Bangkok Hospital, Spire Healthcare Group plc, Saudi German Hospitals Group, Raffles Medical Group, SS Innovations Private Limited, Private Limited, CMR Surgical India Pvt. Ltd, Medicaroid Corp, Asahi Surgical Robotics Co Ltd, HOZ Medical, Medtronic Australasia, Taimi Robotics Technology, Wenshi Robot, Borns Medical RoboticsK, ewei Robot, Horizon Robotics, Avateramedical GmbH, Zimmer Biomet Robotics, Medtech SA, KB Medical SA, Senhance, Archer Daniels Midland Company, Barentz Group Companies, CHR Hansen , Asensus Surgical, Intuitive, Medrobotics Corporation, Medical Inc, Smith & Nephew, Restoration Robotics, Hansen Medical, RTI Connext DDS, Robotic Surgerya, Stryker Corporation, Mazor Robotics, Renishaw Plc, Stereotaxis Inc, Capsa Healthcare, ReWalk Robotics, Hocoma, Accuray Incorporated, Corindus, InTouch Health Inc

Emergence Of Image-Guided Navigation Systems In Robotic Surgery Services
The image guide navigation system combined with the robotic surgery system offers more possibility to visualize and perform minimally invasive surgery in areas that were earlier difficult, especially the orthopedic surgeries and neurosurgeries. The Mazor X Stealth system by Medtronic, and the NuVasive's Pulse and Excelsius GPS by Globus Medical, among others use image-guided navigation systems to perform spine surgeries, and orthopaedic implant surgeries such as total, partial knee, and hip replacements as they provide the surgeon with 3D experience. The image-guided navigation reduces the radiation effects and patients do not require to take an X-ray after the procedure. These factors state that the image-guided navigation system is expected to be a trend in robotic surgery services.

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Key Segments -
The robotic surgery services market covered in this report is segmented -
1) By Component: Systems, Accessories, Services
2) By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopaedics Surgery, Neurosurgery And Other Applications.
3) By End-Use: Hospitals And Ambulatory Surgery Centers (Ascs).

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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