Robotic Surgery Systems Market Size, Share, Growth, and Industry Analysis by Type (Non-Invasive Surgery Robot and Others), By Application (Orthopedic, Laparoscopy, and Neurology) Regional Forecast To 2028

Updated On: 15 May 2023

REPORT OVERVIEW

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The global robotic surgery systems market size is USD 5071.8 million in 2022 and the market is expected to reach USD 8848.7 million in 2028, with a growing CAGR of 9.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the robotic surgery systems market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Surgical robots allow doctors to carry out intricate operating techniques with superior accuracy. They are mainly used in urological, gynecological, orthopedic, general, neurosurgeries, and other minimally invasive surgeries. Development in this market is mainly motivated by the benefits of robotic-assisted operation, technical improvements in surgical robots, the growing adoption of surgical robots, and the upsurge in finance for medical robot study.

COVID-19 Impact: Supply Chain Causes Market Distortion

The COVID-19 virus has had a distressing global influence on the world’s population and economy. The pandemic has put a substantial tension on healthcare methods. During this period, healthcare organizations and workers have been initiated to stop execution of elective surgical processes and medical checkups to reduce the prospect of transmission and preserve healthcare capitals for COVID-19 patients. The virus has led to a momentary prohibition on elective operations across the globe, which caused the terminations of elective surgeries globally postulating an undesirable influence on the globe. 

LATEST TRENDS

"Increasing Adoption of Minimally Invasive Procedures to Boost the Market Growth "

Surgical robots are considerably used for minimally invasive surgical techniques. Robotic-assisted methods have improved exactness and accuracy as associated with unassisted doctors. Adaptive and progressive surgical robots, many composite surgical techniques have been successful. Currently, robot-assisted operations are mostly appropriate for laparoscopic operations as it is more operative and minimally invasive in nature. Hence, there is a growing adoption of surgical robots in developing countries. Moreover, increasing healthcare spending in emerging regions and growing number of surgical processes are anticipated to drive robotic surgery systems market growth during the forecast period.

SEGMENTATION

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• By Types 

Based on type, the market is classified into Non-Invasive Surgery Robots and Others.  

• By Application

Based on application, the market is categorized into Orthopedic, Laparoscopy, and Neurology.

DRIVING FACTORS

"Medical Industry that Gives the Market Extra Boost "

Some of the crucial aspects that are anticipated to drive the robotic surgery systems market are growing surgical techniques which can be credited to numerous aspects such as growing geriatric population who form a big share of the at-risk population for valvular diseases, prostate cancer, endometriosis among others, rising necessity for robot-assisted surgery arrangements owing to the rising preference concerning minimally invasive surgical methods, technical improvements, and the improvement in product change which is paving the way for reduced Surgical Robots ultimately contributing in the overall growth of the robotic surgery systems market. Moreover, the increasing occurrence of numerous diseases such as gynecological difficulties counting endometriosis, urological problems, and cardiovascular disorders such as mitral valve disease is also ensuing in an increasing number of surgical interferences prominent to a thorough rise in the robotic surgery systems market. 

"Technological Advancements to Encourage Market Expansion "

The key factors motivating the market's growth are the growing technical expansions, the entrance of new prominent players, the surging problem of chronic disorders, and the growing inclination for minimally invasive devices. Cardiovascular diseases are the most dominant globally, and they are the primary sources of decease. As per the 2020 updates of the World Health Organization, ischemic heart disease is accountable for approximately 16% of the world's total sum of deaths. The increasing occurrence of cardiovascular syndromes is also growing the number of cardiopulmonary operations and coronary artery bypass grafting (CABG) surgeries being executed. 

RESTRAINING FACTORS

"Cost-Cutting to Impede Market Expansion"

Hospital funds in some European nations were condensed in the past years, with further decreases anticipated during the forecast period. Declines in resources have forced cost-containment methods in many aspects of hospital processes. Cost-cutting has occasioned in staff lay-offs, interruptions in facility advancements, and freezing capital tools buying such as high-cost robotic structures.

REGIONAL INSIGHTS

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"Increasing Number of Hospitals to Fuel Market Growth in North America "

North America is anticipated to hold a significant portion of the global robotic surgery systems market share. This is owing to the upsurge in installed capability of surgical robots, controlled by a varied end-user base of clinics and ambulatory operating centers, is a crucial aspect motivating the robotic surgery systems market in the region.  

The market in Asia Pacific is projected to mature at a faster CAGR in the coming years. This is due to the surge in elderly population that is prospective to enhance the amount of orthopedic, neurological, and urological disorder circumstances. In turn, this is expected to enlarge the amount of robotic surgeries executed in the region.

KEY INDUSTRY PLAYERS

"Leading Firms to Increase Product Demand"

The study includes information on the market players and where they stand within the sector. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being acquired and made available. The study on devices offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Intuitive Surgical Inc. (U.S.)
• Computer Motion Inc. (U.S.)
• Integrated Surgical (U.S.)
• Stryker (U.S.)
• Accuray (U.S.)
• Medrobotics (U.S.)
• Titan Medicals (Canada)
• Stereotaxis (U.S.)

REPORT COVERAGE

The segmentation of the market by type and application is covered in detail in the study. A wide spectrum of players, including current and potential market leaders, are examined in the study. A number of significant reasons are expected to fuel a sizable market expansion. The research also includes factors that are probably to increase market share in order to provide market insights. The report also contains predictions for market growth during the anticipated time frame. Clarifying why one region dominates the global market is the aim of the regional study. The market is unable to expand due to a number of problems, all of which have been carefully taken into account. The research also contains a market strategic analysis. It includes thorough market information.