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Surgical Robots Market - Market Dynamics, Growth Factors & Industry Insights
Surgical Robots Market
As per the report, the surgical robots market size has grown rapidly in recent years. It will grow from $8.14 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The surgical robots market size is expected to see rapidly grown in the next few years. It will grow to $20.28 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%.
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Surge In Elderly And Surgical Patient Populations Fuels Growth Of Surgical Robot Market
The increasing elderly and surgical patient populations are expected to propel the growth of the surgical robot market going forward. The growing elderly and surgical patient populations substantially impact the use and development of surgical robots. Minimally invasive procedures performed by surgery robots are used to reduce patient trauma, shorten recovery times, and cut complication rates. These benefits are critical for aged people to lower mortality and morbidity rates. For instance, according to October 2021 published factsheet by World Health Organization, a Switzerland-based governing body, there will be 1.4 billion individuals over the age of 60 in the world by 2030. Further, according to the American Joint Replacement Registry's 2022 Annual Report, released on November 2022, hip and knee arthroplasty cases in the US reached around 2.8 million in 2022, an increase of 14% from 2021. Therefore, increasing elderly and surgical patient populations drive the surgical robot market.
Technological Advancements Drive Innovation In The Surgical Robot Market
Technological advancements are a key trend gaining popularity in the surgical robot market. Major companies in the surgical robot sector are focused on developing new technologies to improve patient outcomes and strengthen their market position. For instance, in November 2021, Smith+Nephew, a UK-based medical equipment manufacturing company, Launched CORI handheld robotics, a turn-key robotic-assisted surgical system for total and partial knee arthroplasties. It is designed with a 3-D intra-operative imaging system and robotic sculpting tool that allows surgeons to measure, plan, and perform knee surgery. The system is a compact and fully mobile solution with minimal set-up time and can be moved from theatre to theatre to optimize the flow of patients through surgical units.
The surgical robots market covered in this report is segmented -
1) By Component: Systems, Accessories, Services
2) By Surgery Type: Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Surgeries
3) By End-Users: Clinic, Hospital, Ambulatory Care Centers, Other End Users
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Major companies operating in the surgical robots market report are Stryker Corporation, Medrobotics Corporation, Smith & Nephew plc, TransEnterix Inc., Renishaw plc, Intuitive Surgical Inc., Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Johnson & Johnson, Titan Medical Inc., Mazor Robotics Ltd., KUKA Aktiengesellschaft, Avatera Medical GmbH, Corindus Vascular Robotics Inc., MicroSure (Pty) Ltd, Asensus Surgical Inc., Siemens Healthcare GmbH, CMR Surgical Ltd., Auris Health Inc., Verb Surgical Inc., OMNIlife Science Inc., Vicarious Surgical Inc., Microbot Medical Inc., Virtual Incision Corporation, Memic Innovative Surgery Ltd., XACT Robotics Ltd., EndoMaster Pte. Ltd., MST Medical Surgery Technologies Ltd., Medtech SA
Contents of the report:
1. Executive Summary
2. Surgical Robots Market Report Structure
3. Surgical Robots Market Trends And Strategies
4. Surgical Robots Market - Macro Economic Scenario
5. Surgical Robots Market Size And Growth
…..
27. Surgical Robots Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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