Newark, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.7 billion medical robotics surgery market will reach USD 23.3 billion by 2032. Compared to human skills, surgical robots allow for extremely precise manipulation of surgical tools inside limited operation spaces, providing considerable advantages in minimally invasive surgery. A method that falls under the least invasive category, robotic surgery is an advancement in medical practice that spans many specialities. Many medical disciplines employ surgical robot technology to help surgeons conduct intricate procedures with tiny incisions, which reduces patient trauma, speeds up recovery, and improves patient outcomes.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 4.7 Billion |
| Market Size in 2032 | USD 23.3 Billion |
| CAGR | 17.4% |
| No. of Pages in Report | 235 |
| Segments Covered | Product & Service, Application |
| Drivers | Rising surgical procedures |
| Opportunities | Increasing regulatory approvals |
| Restraints | Complications associated |
Key Insight of the Global Medical Robotics Surgery Market
North America to account for the largest market size during the forecast period.
North America is expected to have the essential medical robotics surgery market share. The market is growing due to numerous significant players, including Medtronic plc, Stryker Corporation, and Smith & Nephew Plc, as well as advancements in surgical robotics manufacturing technologies in the region. Furthermore, a strong healthcare infrastructure, affluent consumers, and an increase in the rate at which sophisticated surgical robotics products are used are anticipated to propel market expansion. Additionally, introducing new products and the partnerships and acquisitions made by the major companies in this area contribute to the market's expansion.
The surgical instruments & accessories segment dominated the market with the most significant revenue of USD 1.83 billion.
The surgical instruments & accessories segment dominated the market with the most significant revenue of USD 1.83 billion. This segment's significant market share is mostly due to the introduction of cutting-edge tools and accessories, a rise in surgical operations, and the expanding use of robotic surgical systems.
The general surgery segment dominated the market with the most significant revenue of USD 1.31 billion.
The general surgery segment dominated the market with the most significant revenue of USD 1.31 billion. The market for colorectal cancer surgery is expanding substantially owing to the growing usage of surgical robots. In 2020, there were 43,340 cases of rectal cancer and 104,610 new cases of colon cancer diagnosed in the United States, according to the American Cancer Society. Therefore, it is anticipated that the usage of surgical robots will rise in tandem with the rising incidence of colon cancer.
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Market Dynamics:
Drivers: Growing prevalence of bone degenerative diseases
Key factors expected to drive the market expansion include the increased incidence of osteoporosis and arthritis, leading to increased hip and knee replacement procedures. These factors also increase the prevalence of bone degenerative illnesses. For example, more than 4,50,000 hip replacement procedures are carried out annually in the United States, according to a report by the Agency for Healthcare Research and Quality. Furthermore, data from the Australian Institute of Health and Welfare (AIHW) show that from 2005–2006 to 2017–2018, the overall knee replacement rate for osteoarthritis increased by almost 38%.
Restraint: High Cost
For many healthcare facilities, the high upfront costs of procuring and integrating robotic systems—including infrastructure and training—present a financial obstacle that could hamper market expansion. Complex regulatory frameworks, patient safety concerns, and the requirement for thorough clinical validation of robotic treatments slow the adoption process. Furthermore, because surgical robotics is so complex, doctors must have specialised training, which could result in a shortage of qualified personnel. All of these things work against the medical robotics surgery market's explosive growth.
Opportunity: Technological advancements
The combination of cameras, high-definition 3D imaging, computing technology, sensors, remote navigation technology systems, robotic controlled catheters, and other accessories used for medical surgeries are some examples of the technological advancements in the field of automated medical instruments that are driving the market over the forecast years. These advancements are also increasing the adoption of automated instruments.
Challenge: Increasing regulatory
One major element supporting the market expansion is the growing number of regulatory approvals for surgical robots. The Ion robotic surgical system, for instance, was granted 510(k) FDA clearance in 2019 by Intuitive Surgical Inc. Further contributing to the market expansion are the expanding number of robotic systems used for surgical interventions, the growing acceptance of aided surgeries such as hysterectomies, and the manufacturers' ongoing R&D and investment in automated robotic systems.
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Some of the major players operating in the medical robotics surgery market are:
● Renishaw plc
● Johnson & Johnson
● Medtronic plc
● CMR Surgical Ltd.
● Zimmer Biomet Holding, Inc.
● Stryker Corporation.
● Accuray Incorporated
● Midea Group Co., Ltd.
● Smith & Nephew plc
● Intuitive Surgical, Inc.
Key Segments cover in the market:
By Product & Service:
● Robotic Systems
● Services
● Surgical Instruments & Accessories
By Application:
● General Surgery
● Urology
● Cardiovascular & Thoracic
● Orthopedic
● Obstetrics & Gynecological
About the report:
The global medical robotics surgery market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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