Surgical Robotics Market Size, Share, Growth and Trends, Forecast 2024-2031

The Global Surgical Robotics Market reached USD 7.5 billion in 2023 and is projected to witness lucrative growth by reaching up to USD 19.9 billion by 2031. The global surgical robotics market is expected to exhibit a CAGR of 13.4% during the forecast period (2024-2031).

Surgical robots are increasingly used across various medical fields, including urology, gynecology, cardiothoracic surgery, and general surgery. They are particularly valuable in procedures such as prostatectomy and hysterectomy. The adoption of surgical robots has grown in recent years due to their significant benefits, including smaller incisions, reduced blood loss, lower infection risk, and faster recovery times.

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Key Developments:

• In May 2023, Robocath, a company specializing in smart robotic solutions for cardiovascular diseases, introduced its R-One+ robotic platform at the EuroPCR 2023 conference in Paris. This innovative platform is designed for coronary angioplasties and aims to prevent radiation-induced damage, enhancing both the safety and ease of treatments.

• In February 2023, Asensus Surgical entered a multi-year collaboration with Google Cloud. This partnership integrates Google Cloud's secure data architecture and machine learning capabilities into Asensus' surgical robot platform, expanding the functionalities of its Intelligent Surgical Unit (ISU) and improving performance-guided surgical procedures.

• In November 2022, CMR Surgical, a medical device company, formed a collaboration with Ethicon, a Johnson & Johnson MedTech firm. This agreement is set to enhance the offerings in surgical robotics and advanced laparoscopic equipment, broadening the range of surgical options available in select markets.

Market Dynamics:

Rising Number of Surgical Procedures

The growing number of surgical procedures is a major driver for the expansion of the surgical robots market. The global burden of chronic diseases is leading to an increase in surgical operations, which in turn fuels the demand for surgical robots. For example, the CDC (Centers for Disease Control and Prevention) reports that approximately 6 in 10 people in the United States have a chronic condition, contributing to the rising need for surgical interventions.

Surgical robots are increasingly utilized in various medical operations, including heart surgery, cataract surgery, surgical interventions, and orthopedic cancer surgeries. These robots enhance surgical outcomes and improve precision. As the frequency of these procedures continues to rise, the market for surgical robots is expected to grow, with these technologies playing a pivotal role in shaping future industry developments.

Segment Covered in the Surgical Robotics Market:

By Product Type: Robotic Surgery Systems, Instruments, and Accessories, Robotic Surgery Services.

By Indication: General Surgery, Orthopedic, Neurosurgery, Cardiovascular, Gynecology, Radiology, Others.

By End User: Hospitals, Ambulatory Surgical Centers and Others.

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Key players involved in Surgical Robotics Market:

• Auris Surgical Robotics.
• Neurosurgery
• Intuitive Surgical
• Stryker Corporation/MAKO
• Medtech Surgical
• Hansen Medical
• Mazor Robotics
• THINK Surgical
• Medrobotics Corporation
• TransEnterix

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Surgical Robotics Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Surgical Robotics Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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