Robotic Surgical Systems Devices Market Size was valued at USD 2.8 Billion in 2022. The Robotic Surgical Systems Devices industry is projected to grow from USD 3.25 Billion in 2023 to USD 10.65 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.00% during the forecast period (2023 - 2032). Technological progress, minimally invasive surgery (MIS), and increasing demand for surgical procedures are the key market drivers boosting the expansion of the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Robotic Surgical Systems Devices is being driven by the rising number Minimally Invasive Surgeries (MIS). By automating surgical procedures, robotic devices enable surgeons to maximize surgical efficiency and precision while reducing the risk of complications after the treatment. They also improve dexterity and give accurate representations of body components, which let surgeons operate on difficult-to-reach body sections. Additionally, compared to traditional open surgery, they offer a quicker recovery period, less scars, and a decreased chance of blood loss and infection.
Additionally, minimally invasive operations are made possible by robotic surgical equipment, which have advantages over open surgeries such smaller incisions, less blood loss, faster recovery, and shorter hospital stays. The market for robotic surgical systems is driven by people's growing preference for MIS. More complex and accurate robotic surgical systems have been developed as a result of ongoing developments in robotics, artificial intelligence (AI), and machine learning. The surgical instruments, accuracy, and results are improved by these technological advancements. Because of the aging population, rise in chronic illnesses, and increased prevalence of complex medical disorders, there is an increasing demand for a variety of surgical operations. Complex surgeries are made easier by robotic technology, which meets this increasing demand.
Robotic systems are being used extensively in gynecology and urology, especially for delicate surgeries such as hysterectomies and prostatectomies. Market dynamics are determined by the need for these specialist operations. The more common robotic systems are in different medical specialties, the more surgeons embrace and become adept at utilizing them, and the more training programs are developed. Through the use of robotic equipment, advances in telemedicine and remote surgery enable surgeons to conduct treatments from a distance, increasing access to specialist care in rural or underserved locations. Robotic surgeries are cost-effective for healthcare systems because they can result in cost savings over time due to shorter hospital stays, fewer complications, and faster patient recovery, even with their higher initial capital expenditures.
For instance, According to estimates from the World Health Organization (2023), endometriosis affects about 190 million people worldwide annually. According to a different statistic from the Cancer Observatory, prostate cancer accounted for 1,414,259 new cases ly in 2020, making it the fourth most common malignancy. Thus, result in driving the Robotic Surgical Systems Devices market revenue.
The Robotic Surgical Systems Devices market segmentation, based on Component includes Systems, Accessories, and Services. The accessories segment dominated the market, due to the increasing use of surgical robotic systems in Tier-1 hospitals, ongoing sales of these systems' accessories, and the need for highly effective interchangeable parts.
Figure1: Robotic Surgical Systems Devices Market, by Distribution channel,2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Robotic Surgical Systems Devices market segmentation, based on Surgery Type, includes Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, and Other Surgeries. The orthopedic surgery category generated the most income. This is because there are a lot of patients having robotic surgery, recuperation times are shorter, and there are generally less issues after surgery.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Robotic Surgical Systems Devices market area will dominate this market. The burgeoning market in the North American region is bolstered by the swift progress of technology, augmented investments in research and development endeavors, expanding patient base, and expanding application domain.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: ROBOTIC SURGICAL SYSTEMS DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Robotic Surgical Systems Devices market has the second-largest portion of the market, because of the advantages that come with it, like less trauma, quicker recovery times, and less issues. Further, the German Robotic Surgical Systems Devices market had the biggest market share, and the UK Robotic Surgical Systems Devices market was the European market with the quickest rate of growth.
The Asia-Pacific Robotic Surgical Systems Devices Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. Gynecological illnesses' increasing prevalence and other factors are mostly to blame for this, along with the future requirement for advanced healthcare facilities. Moreover, China’s Robotic Surgical Systems Devices market had the biggest market share, and the Indian Robotic Surgical Systems Devices market was the Asia-Pacific region's fastest-growing market.
Robotic Surgical Systems Devices Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to expand their product lines, which will drive the market for robotic surgical systems equipment to grow even more. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, Robotic Surgical Systems Devices industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Robotic Surgical Systems Devices industry to help customers and expand the market segment. In recent years, the Robotic Surgical Systems Devices industry has provided some of the biggest benefits to medicine. Major players in the Robotic Surgical Systems Devices market, including Stryker Corporation, Titan Medical Inc., INTUITIVE SURGICAL, INC., Transenterix, Inc., Medtronic Plc., Zimmer Biomet Holdings, Inc., and others, are engaging in research and development activities in an effort to boost market demand.
Stryker Corporation develops, produces, and markets a broad range of goods and services for the healthcare sector. The three main business segments of the corporation are MedSurg, Neurotechnology and Spine, and Orthopaedics. The fourth quarter and full year operating statistics for Stryker were released in 2019. The company recorded net sales growth of 8.8% to $4.1 billion and 9.4% to $14.9 billion, respectively. The company continued to accelerate organic sales growth for the seventh consecutive year, achieving 8.1% full-year growth in organic sales and 13% improvements in adjusted EPS. The medical equipment startup Gauss Surgical, which created the Triton artificial intelligence platform, was fully acquired by Stryker in 2021.
Titan Medical Inc. is a medical equipment firm that specializes in surgical technology development and design for robotic single-aisthetic surgery. The Enos single-port robotic surgical system, intended for use in minimally invasive surgery, is the company's flagship product. However, the company had to halt product development in the second half of the year due to a lack of funding. 2020 saw Titan Medical's single-port robotic surgery system obtain ISO 13485:2003 Certification. The business earned a $10 million payment in the United States for licensing the developed technologies to Medtronic after completing the second technical milestone under the development and license agreement with Medtronic plc in 2021.
Key Companies in the Robotic Surgical Systems Devices market include
Robotic Surgical Systems Devices Industry Developments
December 2021:Smith & Nephew revealed their growth plan, aiming for steady 4-6% increase in organic revenue by 2024.
In 2021:Intuitive Surgical unveiled the Ion endoluminal system, a robotically assisted platform for minimally invasive lung biopsies.
In 2023:Johnson & Johnson introduced 13 innovative inventions that are enhancing people's health all throughout the world.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 2.8 Billion |
| Market Size 2023 | USD 3.25 Billion |
| Market Size2032 | USD 10.65 Billion |
| Compound Annual Growth Rate (CAGR) | 16.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Surgery Type, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Stryker Corporation, Titan Medical Inc., INTUITIVE SURGICAL, INC., Transenterix, Inc., Medtronic Plc., Zimmer Biomet Holdings, Inc., Smith & Nephew, GLOBUS MEDICAL, INC, Siemens AG (Siemens Healthineers), Johnson & Johnson |
| Key Market Opportunities | Improvements in Technology and Surgical Complexity |
| Key Market Dynamics | Increased prevalence of neurological conditions, gynecological ailments, and colorectal cancer, among other conditions, is anticipated to push the use of robotic surgical systems. |
Frequently Asked Questions (FAQ) :
In 2022, the market for robotic surgical systems devices was estimated to be worth USD 2.8 billion.
From 2023 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 16.00%.
North America held the most market share worldwide.
The leading companies in the market are Zimmer Biomet Holdings, Inc., Transenterix, Inc., INTUITIVE SURGICAL, INC., Titan Medical Inc., and Stryker Corporation.
In 2022, the market was dominated by the Accessories category.
The market share that Orthopedic Surgery held worldwide was the biggest.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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