Surgical Robots Market Poised to Hit $24.12 Billion by 2029 with Accelerating Growth Trends

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Surgical Robots Market Size Growth Forecast: What to Expect by 2025?
The size of the surgical robots market has seen rapid expansion in the past few years. The market, valued at $9.48 billion in 2024, is expected to escalate to $11.15 billion in 2025, indicating a compound annual growth rate (CAGR) of 17.6%. Factors such as the rising incidence of chronic ailments, an increasing aged population, the necessity for high precision and accuracy, growth in healthcare expenditure, and a rise in robot-assisted practices have all contributed to the historical growth period.

How Will the Surgical Robots Market Size Evolve and Grow by 2029?
In the up and coming years, the market size of surgical robots is projected to undergo significant expansion. By 2029, this market is anticipated to balloon to a staggering $24.12 billion, with a compound annual growth rate (CAGR) of 21.3%. This upward trajectory in the forecast period is primarily credited to the broadening scope of robotic surgery, higher acceptance in developing markets, the escalating demand for remote surgical solutions, a rise in customization and personalization trends, and the approval and standardization by regulators. Key trends projected to dominate the forecast period encompass the integration of artificial intelligence (AI) for surgical precision, the emergence of mini surgical robots, the development of telesurgery and remote surgical capabilities, a spur in the utilization of robots in non-invasive surgeries, and the advancement of haptic feedback technology.

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What Drivers Are Propelling the Growth of Surgical Robots Market Forward?
The rise in elderly populations and surgical patients is anticipated to fuel surgical robot market growth in the future. The expanding demographic of the older and surgical patients has a significant effect on the utilization and advancement of surgical robots. Procedures employing surgical robots are applied to decrease patient trauma, facilitate quicker recovery periods, and lessen the occurrence of complications. These advantages are crucial for the elderly population, as they assist in minimizing mortality and morbidity rates. For example, the World Health Organization (WHO) - a Switzerland-based Intergovernmental organization's 2024 predictions suggest that by 2030, one in six people worldwide will be 60 or older. The number of people aged 60 and above is projected to rise from one billion in 2020 to 1.4 billion by that time. By the middle of the century, this figure will have doubled to 2.1 billion worldwide. Furthermore, the American Joint Replacement Registry's 2022 Annual Report, published in November 2022, stated that the number of hip and knee arthroplasty procedures in the US had grown to roughly 2.8 million in 2022, marking a 14% rise from the year before. Hence, the growth in elderly and surgical patient populations stimulates the expansion of the surgical robot market.

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Which Fast-Growing Trends Are Poised to Disrupt the Surgical Robots Market?
Leading firms in the surgical robot industry are concentrating their efforts on producing cutting-edge systems like CMR Surgical's Versius, employing distinctive aspects to elevate robot-aided surgery. Versius®, a modular surgical robot crafted by CMR Surgical, is constructed to aid surgeons carry out minimally invasive surgeries across various disciplines. As an illustration, CMR Surgical, a medical equipment production firm based in the UK, introduced the Versius® Surgical Robot in June 2023. This unveiling showcased the robot's adaptability and superior capabilities, with the goal of enhancing surgical results and driving the uptake of robotic-assisted surgeries within hospitals throughout the region.

What Are the Key Segments in the Surgical Robots Market?
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

Subsegments:
1) By Systems: Robotic Surgical Systems, Robotic Arm Systems, Tele-surgery Systems, Modular Robotic Systems
2) By Accessories: Surgical Instruments, Camera Systems, Console And Control Units, Power Supply Units
3) By Services: Installation And Training Services, Maintenance And Repair Services, Technical Support Services, Upgrades And Software Services

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Who Are the Key Players Shaping the Surgical Robots Market's Competitive Landscape?
Major companies operating in the surgical robots market include 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

What Geographic Markets Are Powering Growth in the Surgical Robots Market?
North America was the largest region in the surgical robots market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global surgical robots market report forecast period. The regions covered in the surgical robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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