Global Robotic Surgical Procedures Market Report and Forecast 2024-2032

Global Robotic Surgical Procedures Market Outlook

The value of the global robotic surgical procedures market was USD 6.96 billion in 2023, driven by the increasing adoption of minimally invasive surgical procedures across the globe. The market is expected to grow at a CAGR of 18.7% during the forecast period of 2024-2032 to reach value of USD 32.54 billion by 2032.

Key Trends in the Market

Robotic surgical procedures, also known as robot-assisted surgical procedures, are the process of carrying out a surgery using a robotic surgical system. Robotic components are capable of performing a variety of surgical procedures with greater efficiency, precision, and control, in less time, which are usually not possible using conventional surgical techniques.

• The global robotic surgical procedures market is being driven by the rapid transition from traditional manual surgical methods towards automated surgical procedures. Rapid digitalisation across the healthcare sector to achieve greater operational efficiency in healthcare units is further bolstering the application of robotic surgical procedures in hospitals.

• Robot assisted surgical procedures offer significant advantages such as shorter duration of hospitalisation, fewer scars, lesser pain, and faster recovery which allows patients to return to their daily routine sooner. In this regard, the increasing awareness about the benefits of robotic surgical procedures are accelerating the growth of the market for robotic surgical procedures.

• Advancements, upgradations, and innovations by the major med-tech companies is a crucial driving trend of the market. Cameras with greater resolutions and self-powered computing devices are some of the critical innovations which are expected to be witnessed in the coming years.

• The penetration of artificial intelligence (AI) and machine learning (ML) is likely to improve the precision and accuracy of robotic surgical procedures which will further boost the reliability of the surgeries, thereby, escalating the growth of the robotic surgical procedures market.

Market Analysis

Based on application, the market can be segmented into general surgery, gynaecology, urology, and orthopaedics, among others. The orthopaedics segment can further be divided based on orthopaedics type into knee, hip, and spine, among others. On the basis of end-user, the market can be classified into hospitals and ambulatory surgery centres. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global robotic surgical procedures market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Intuitive Surgical 

• Stryker

• Smith & Nephew 

• Accuray Incorporated

• CMR Surgical Ltd.

• Medtronic

• Johnson & Johnson Services, Inc.

• Zimmer Biomet

• avateramedical GmbH

Market Share by Application

The urological segment, based on application, accounts for a significant share in the robotic surgical procedures market. Robotic surgical procedures are witnessing heightened applications for various urological conditions including removal of prostate and reconstruction of urinary tract, among others. Over the forecast period, the anticipated increase in the population of geriatrics is expected to increase the demand for robots in urological surgical processes.

Meanwhile, the general surgery segment is likely to witness a steady growth in the forecast period, as the robotic components make the surgical process less invasive, thereby, leading to lower risk of complications. This advantage offered by the product is bolstering the awareness among patients, thereby, propelling the growth of the market for robotic surgical procedures.

Market Share by Region

Based on region, North America holds a decent share in the market, which is being driven by the favourable reimbursement policies of the governments across strong economies such as the United States. The technologically advanced healthcare infrastructure in the region is further improving the incorporation of robots in healthcare units, further adding to the robotic surgical procedures market growth. The growing cases of chronic cardiovascular diseases induced by the increase obese population are further expanding the scope of market.

Meanwhile, Asia Pacific is expected to witness a heathy growth in the forecast period due to the rising healthcare expenditure, coupled with the digital initiatives being taken by the governments of emerging economies such as India and China.

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Competitive Landscape

Intuitive Surgical is an America medication company which was founded in 1995 and is currently headquartered in California. The company has been focussing on minimally invasive medical treatment procedures along with end-to-end learning procedures. The company has an employee base of more than 9,000.

Stryker is one of the leading med-tech companies around the world and offers products aimed towards catering to the demands related to orthopaedics, surgical, and neurotechnological, applications among others. Stryker was founded in the year 1941 and is headquartered in Michigan, United States.

Smith & Nephew is a renowned medical manufacturing company which was founded in 1856. It currently operates in Kingston upon Hull, United Kingdom. This medical technology company caters to the demand of healthcare units across 100 countries. Smith & Nephew is dedicated towards research and development aimed towards progressive product launches.

Other market players include Accuray Incorporated, CMR Surgical Ltd., and Medtronic, among others.

Key Highlights of the Report

Robotic Surgical Procedures Market Report Snapshots

Robotic Surgical Procedures Market Size

Robotic Surgical Procedures Market Trends

Robotic Surgical Procedures Companies