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Rising Number Of Surgeries Worldwide Fueling Growth In Remote Surgery Market: Powering Innovation and Expansion in the Remote Surgery Market by 2025
Remote Surgery
What Is the Expected CAGR for the Remote Surgery Market Through 2025?
The market size for remote surgery has seen a significant increase in the past few years. Projections for growth indicate the market's expansion from $6.2 billion in 2024 to $7.34 billion in 2025, with a compound annual growth rate (CAGR) of 18.3%. The growth witnessed in the historical period can be associated with enhancements in telecommunication infrastructure, the worldwide extension of healthcare services, an increased demand for specialized surgical expertise, partnerships between surgeons and tech developers, escalating healthcare expenses and a demand for efficiency, as well as government efforts aimed at improving healthcare accessibility.
What's the Projected Size of the Global Remote Surgery Market by 2029?
In the coming years, the remote surgery market is projected to experience a surge in growth, escalating to $12.91 billion by 2029, with a compound annual growth rate (CAGR) of 15.1%. This predicted growth during the forecast period can be credited to the global readiness for health crises, emphasis on healthcare in rural and underserved regions, incorporation of artificial intelligence (AI), training and skill enhancement measures, and global cooperation in medical services. Expected trends during the prediction period encompass advancements in robotics and telecommunications, improved access and connection, a heightened demand for minimally invasive treatments, integration of artificial intelligence (AI) and a boost in telesurgery training courses.
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Top Growth Drivers in the Remote Surgery Industry: What's Accelerating the Market?
Global surgery rates are increasing, and this is anticipated to fuel the growth of the remote surgery market. This branch of medicine, which involves the use of operative techniques to treat various medical conditions and diseases is seeing a rise. This increase is a key factor in propelling the evolution and acceptance of remote surgery. Because these procedures offer more accuracy, advanced visualization, and reduced hospital stays, they are frequently conducted by surgeons. The Aesthetic Society, a US-based medical entity focused on plastic surgery and aesthetic medicine, reported that in August 2023, Americans expended over $11.8 billion on aesthetic procedures, experiencing a 2% increase from the previous year. Furthermore, the global healthcare system performs over 300 million major surgical procedures annually, according to the US-based Austin Publishing Group's May 2023 findings. Hence, the growth of remote surgery is being driven by the increasing number of surgeries worldwide. The rise in chronic disease prevalence is another factor expected to drive the growth of the remote surgery market. Chronic diseases are typically long-term, controllable, but incurable ailments. Patients require continual medical attention with these conditions, and they frequently interfere with daily activities. To help manage these conditions, remote surgery is being utilized more frequently, allowing expert surgeons to perform procedures remotely, improving access to specialized care, and lessening the load on patients with chronic illnesses. The World Health Organization, a Swiss intergovernmental agency, claimed in February 2024 that more than 35 million new cancer cases were projected by 2050 - a 77% jump from an estimated 20 million cases in 2022. Thus, the growth of the remote surgery market is being propelled by the rise in chronic disease incidence.
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What Trends Will Shape the Remote Surgery Market Through 2029 and Beyond?
Top players in the remote surgery sector are turning their attention to the development of new technologies like robotic platforms. These platforms are being deployed to enhance the safety and precision of coronary angioplasty procedures. They are designed with state-of-the-art capabilities that imitate human agility. A case in point is the launch of the 'R-One+ robotic platform' by Robocath SAS, a firm based in France known for its robotics solutions and systems, in May 2023. This advanced platform helps minimize radiation-induced injuries, thus making surgeries safer and faster. It offers cardiologists the flexibility to operate the surgical devices via a command unit in the operating room's control center. Importantly, the R-One+ platform is loaded with special features including collision detection and force feedback to minimize the risk of potential surgical complications and prevent the robotic arm from hitting the patient or other surgical tools.
What Are the Main Segments in the Remote Surgery Market?
The remote surgery market covered in this report is segmented -
1) By Component: Accessories, Systems
2) By Application: Gynecology Surgery, Urology Surgery, Thoracic Surgery, Cardiac Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Applications
3) By End-User: Clinics, Hospitals
Subsegments:
1) By Accessories: Surgical Instruments, Sensors And Cameras, Communication Devices
2) By Systems: Robotic Surgery Systems, Telecommunication Systems, Imaging Systems
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Which Top Companies are Driving Growth in the Remote Surgery Market?
Major companies operating in the remote surgery market report are Johnson and Johnson Private Limited, Medtronic plc., Stryker Corporation, Zimmer Biomet Holdings, Intuitive Surgical Inc., Smith and Nephew plc., Auris Health Inc., Globus Medical Inc., Renishaw plc., SRI International, Accuray Incorporated, Brainlab AG, Meere Co Inc., Titan Medical Group, MAKO Surgical Corp., Avatera Medical GmbH, Mazor Robotics Ltd., CMR Surgical Ltd., THINK Surgical Inc., Vicarious Surgical Inc., Ronovo Surgical, Blue Belt Technologies Inc., Synaptive Medical Inc., Virtual Incision Corporation, Asensus Surgical Inc., Medrobotics Corporation, MicroSure B.V., EndoQuest Robotics Ltd., Medicaroid Corporation, Neocis Inc.
Which Regions Will Dominate the Remote Surgery Market Through 2029?
North America was the largest region in the remote surgery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the remote surgery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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