Press release
Robotic-Assisted Laparoscopic Surgery Market Poised for 10.1 % Growth, Set to Hit $19.38 Billion by 2029
How Is the Robotic-Assisted Laparoscopic Surgery Market Projected to Grow, and What Is Its Market Size?The market size for robotic-assisted laparoscopic surgery has seen significant expansion lately. It is projected to escalate from $140.9 billion in 2024 to $155.62 billion in 2025, with a compound annual growth rate (CAGR) of 10.4%. The development in the historic phase is a result of rising investments in healthcare robotics, escalating global healthcare spending, growth in robotic surgery training initiatives, increased demand for customized surgery solutions, and advancements in research and development.
The market size of robotic-assisted laparoscopic surgery is predicted to witness a significant escalation in the forthcoming years, with a projection of reaching $228.46 billion in 2029, escalating at a compound annual growth rate (CAGR) of 10.1%. The projected growth during the forecast period is associated with the escalating demand for less intrusive surgical practices, heightened uptake of automated tools, increased instances of bone degenerative diseases, rising chronic disease occurrences, and an augmenting aged population. Key trends expected during the forecast period encompass technological advancements, the incorporation of artificial intelligence (AI), machine learning, training based on simulations, and micro-robotics.
What Are the Key Drivers Behind the Growth of the Robotic-Assisted Laparoscopic Surgery Market?
The robotic-assisted laparoscopic surgery market is set to see substantial growth, driven by the escalating demand for surgical procedures. These procedures, which involve altering tissues and organs either manually or via surgical instruments, have seen a surge in demand thanks to an increased interest in both health and aesthetic options, as well as a noteworthy increase in chronic and aging-related conditions. Robotic-assisted laparoscopic surgeries stand as a major breakthrough in this arena, providing amplified precision and control which makes challenging surgeries more feasible while decreasing patient recovery periods and surgical complications. For example, The Aesthetic Society, a US professional association for plastic surgery and cosmetic medicine, reported in August 2023 that Americans had spent over $11.8 billion on aesthetic procedures in 2022, which marked a 2% increase from the prior year. Hence, it comes as no surprise that the soaring demand for surgical procedures is kick-starting the growth of the robotic-assisted laparoscopic surgery market.
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Who Are the Major Industry Players Fueling Robotic-Assisted Laparoscopic Surgery Market Expansion?
Major companies operating in the robotic-assisted laparoscopic surgery market are Johnson & Johnson, Medtronic PLC, Doosan Corporation, Intuitive Surgical Inc., Vicarious Surgical Inc., MedStar Health Inc., Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, Corza Medical, CMR Surgical Ltd., Distalmotion S.A., Titan Medical Inc., Medrobotics Corporation, Asensus Surgical Inc., SS Innovations China Co. Ltd., Moon Surgical Inc., Levita Magnetics, EndoQuest Robotics, FreeHand Surgeon, Shandong Weigao Surgical Robot
Which Key Developments Are Influencing the Robotic-Assisted Laparoscopic Surgery Market?
Key players in the robotic-assisted laparoscopic surgery industry are honing their focus on the creation of advanced tech, such as AI platforms for robotic operations, in a bid to assist surgeons in refining their skills. These AI platforms for robotic procedures amalgamate AI with robotic surgical systems, thereby augmenting accuracy, automating certain tasks, and boosting decision-making during medical operations. The goal is to favorable alter surgical results by equipping surgeons with real-time details, analytical frameworks, and control instruments. For example, in July 2024, Medtronic, a medical equipment firm based in the US, introduced the Live Stream feature for its Touch Surgery digital tech ecosystem. This freshly unveiled feature permits secure live broadcasts of surgical proceedings, creating a virtual teaching platform whereby medics can, from a distance, observe the methods used by experts, thereby replicating an in-person experience. This tech improves post-surgery assessment through 14 innovative AI formulae by producing insights from surgical video content, predominantly for laparoscopic and robotic-aided procedures. This innovation aligns with the continuous aspiration to incorporate sophisticated computational abilities into operating theaters worldwide to bolster surgical instruction, enhance operational efficacy, and better patient results.
How Is the Segmentation of the Robotic-Assisted Laparoscopic Surgery Market Defined?
The robotic-assisted laparoscopic surgerymarket covered in this report is segmented -
1) By Type: Robotic-Assisted Radical Prostatectomy, Robotic-Assisted Partial Nephrectomy, Robotic-Assisted Nephrectomy, Other Type
2) By Application: Hospitals, Ambulatory Surgical Center, Other Applications
3) By End-Use: Inpatient, Outpatient
Subsegments:
1) Robotic-Assisted Radical Prostatectomy: Robotic Prostatectomy Systems, Surgical Instruments For Prostatectomy, Training And Simulation Tools, Consumables And Accessories
2) Robotic-Assisted Partial Nephrectomy: Robotic Surgical Systems, Specialized Instruments For Partial Nephrectomy, Software Solutions For Planning And Simulation, Support And Maintenance Services
3) Robotic-Assisted Nephrectomy: Robotic Nephrectomy Platforms, Instrument Sets For Nephrectomy Procedures, Imaging And Navigation Tools, Training Programs For Surgeons
4) Other Types: Robotic-Assisted Cholecystectomy, Robotic-Assisted Hysterectomy, Robotic-Assisted Bariatric Surgery, Robotic-Assisted Colorectal Surgery
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What Is the Leading Region in the Robotic-Assisted Laparoscopic Surgery Market?
Asia-Pacific was the largest region in the robotic-assisted laparoscopic surgery market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic-assisted laparoscopic surgery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Robotic-Assisted Laparoscopic Surgery Global Market Report?
- Market Size Analysis: Analyze the Robotic-Assisted Laparoscopic Surgery Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Robotic-Assisted Laparoscopic Surgery Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Robotic-Assisted Laparoscopic Surgery Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Robotic-Assisted Laparoscopic Surgery Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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