WASHINGTON, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, the AI-based Surgical Robots Market is experiencing robust growth driven by several key factors. The increasing preference for minimally invasive surgical procedures, coupled with the rising incidence of chronic diseases, is fueling the demand for advanced surgical technologies.
According to Vantage Market Research, the Global AI-based Surgical Robots Market is projected to reach a value of USD 23.8 Billion by 2030 and is expected to exhibit a CAGR of 18.6% from 2023 to 2030. The global CBD Nutraceuticals Industry is valued at USD 6.1 Billion in 2022.
AI-based Surgical Robots bring forth a multitude of advantages, including heightened precision, minimized risk of human error, enhanced surgical results, and faster recovery periods. These compelling benefits have spurred an augmented uptake of AI-based Surgical Robots among healthcare providers. The AI-based Surgical Robots market is underpinned by a range of factors, including the escalating incidence of chronic ailments necessitating surgical procedures, the expanding elderly population, and progressive strides in artificial intelligence and robotic technology. Moreover, the growing call for minimally invasive surgeries and the imperative to curtail healthcare expenditures serve as additional driving forces propelling the market forward.
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Market Dynamics: AI-based Surgical Robots Market
AI-Based Surgical Robots Redefine Precision and Patient Recovery
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Top Companies in the Global AI-based Surgical Robots Market
- Accuray Incorporated (U.S.)
- Intuitive Surgical Inc. (U.S.)
- Medtronic PLC (Ireland)
- Medrobotics Corp. (U.S.)
- Zimmer Biomet (U.S.)
- Stereotaxis Inc. (U.S.)
- Transenterix Inc. (U.S.)
- Stryker Corporation (U.S.)
- Activ Surgical Inc. (U.S.)
- Titan Medical Inc. (Canada)
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Top Trends in Global AI-based Surgical Robots Market
Governments across the globe are making substantial healthcare investments to enhance patient well-being. These investments are channeled into supporting the research and innovation of novel medical technologies, notably encompassing AI-based Surgical Robots. Consequently, the AI-based Surgical Robots market is poised for remarkable expansion. Furthermore, the ascendancy of robotic surgery is attributable to its array of merits, encompassing diminished pain, abbreviated hospital stays, and hastened recuperation periods. This trend has spurred a pronounced surge in the utilization of robotic-assisted surgical procedures, manifesting as a tangible augmentation in surgical interventions conducted through robotic means.
Top Report Findings
- By Type, the Services segment is anticipated to mention the market’s fastest growth during the forecast period.
- By Application, the Neurology segment is expected to witness maximum market growth over the projected period.
- In 2022, North America dominated the market with the highest revenue share of 48.5%.
- Asia Pacific is expected to witness maximum market growth during the forecast period.
Overcoming Challenges of AI-based Surgical Robots Industry
The realm of AI-based Surgical Robots stands as a pinnacle of technological advancement, necessitating substantial investments across research, development, manufacturing, and maintenance domains. The elevated cost associated with these cutting-edge robots may engender accessibility barriers, particularly for hospitals and healthcare facilities in developing nations or smaller healthcare setups. Moreover, the comprehensive training of surgeons and medical practitioners to adeptly operate these robotic systems also entails a considerable financial commitment.
Global AI-based Surgical Robots Market Segmentation
By Type
- Services
- Instruments & Accessories
By Application
- Laparoscopy
- Orthopedic
- Neurology
- Urology
- Gynecology
- Other Applications
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on AI-based Surgical Robots Market Forecast Report (2023-2030).
Exploring Opportunities:
At present, the realm of AI-based Surgical Robots has found its application primarily in urology, gynecology, and general surgery. However, the horizon of this market is poised for an expansive shift as it embarks on a journey into novel surgical domains. The fields of neurosurgery, orthopedics, and cardiovascular surgery emerge as fertile grounds for the growth and integration of AI-based Surgical Robots. These remarkable machines hold the promise of delivering the impeccable precision, unwavering stability, and unparalleled accuracy requisite for intricate procedures within these specialized realms.
Intuitive Surgical, the visionary force behind the da Vinci Surgical System, is already at the vanguard of this transformative wave, venturing into the augmentation of its robotic marvel across additional surgical disciplines. Moreover, the disruptive impact of the COVID-19 pandemic has spurred an even more rapid acceleration in the embrace of telemedicine and remote surgery, unfurling novel avenues for the expansion of AI-based Surgical Robots. In this novel paradigm, surgical virtuosos can commandeer robotic interventions from remote locations, extending the reach of specialized surgical prowess even into underserved enclaves.
Recent Development
- In May 2023, Medtronic Private Limited joined forces with AIIMS New Delhi to unveil a cutting-edge surgical robotics training center at AIIMS, New Delhi, cementing their commitment to advancing surgical excellence.
- October 2022 witnessed a pivotal moment for Medtronic plc, as they proudly heralded three momentous global market-entrance and indication expansion approvals for their Hugo™ robotic-assisted surgery (RAS) system, propelling the boundaries of robotic surgical innovation.
- In a significant stride in May 2022, Zimmer Biomet Holdings, Inc. introduced an era of enriched capabilities through the integration of artificial intelligence¹ (AI) within the Omni™ Suite.
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Key Questions Answered in AI-based Surgical Robots Market Report
- What are the primary driving factors behind the adoption of AI-based surgical robots in the medical industry?
- How does the integration of AI enhance the precision and accuracy of minimally invasive surgical procedures?
- What role does AI play in mitigating surgical complications and improving patient outcomes?
- What are the key advancements and innovations in AI-based surgical robot technology?
- How is the regulatory landscape shaping the growth and deployment of AI-based surgical robots?
- What are the current challenges and limitations associated with the use of AI-based surgical robots?
- What is the market outlook for AI-based surgical robots in terms of growth and expansion?
- How are healthcare institutions and medical professionals adapting to the incorporation of AI-based surgical robots?
- What are the potential cost-efficiency and resource-saving benefits associated with these advanced surgical technologies?
Regional Analysis
North America stands as the eminent stage, commanding the spotlight with a leading role in the year 2022. This prominence is attributed to an ensemble of robust enterprises, a symphony of augmented research and development investments, and a well-entrenched healthcare infrastructure that sets the stage for transformative advancements. Within this panorama, the United States takes center stage, embodying the grandeur of the region's AI-based Surgical Robots industry. A prolific hub of medical device manufacturers, the United States resonates with the crescendo of a burgeoning demand for minimally invasive surgeries, harmonizing seamlessly with the technological rhythms of AI-based Surgical Robots.
Meanwhile, the Asia-Pacific region emerges as a crescendo of growth, orchestrating an opus of unparalleled expansion in the realm of AI-based Surgical Robots. This symphony of growth is orchestrated by the crescendo of escalating healthcare expenditure, a burgeoning appetite for cutting-edge healthcare services, and the harmonious chords of intensified investments in research and development. Within this symphonic composition, Japan commands a leading note, serving as the prelude to the region's AI-based Surgical Robots market. With a chorus of key players and a cadence of heightened investments in research and development, Japan resonates as the heart of this transformative journey.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 6.1 Billion |
| Revenue Forecast by 2030 | USD 23.8 Billion |
| CAGR | 18.6% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Accuray Incorporated, Intuitive Surgical Inc., Medtronic PLC (Ireland), Medrobotics Corp., Zimmer Biomet, Stereotaxis Inc., Transenterix Inc., Stryker Corporation, Activ Surgical Inc |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options: https://www.vantagemarketresearch.com/aibased-surgical-robots-market-2229/customization-request |
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