Global Surgical Robots Market Research Report, 2024-29

Surgical Robots enable doctors to perform complex procedures with greater precision, flexibility, and control than conventional techniques. It is frequently connected with both minimally invasive and open procedures. The most common system consists of a camera arm and mechanical arms with surgical equipment attached. The surgeon directs the procedure from a computer interface and controls the arms. Robotics and artificial intelligence (AI) have been integrated in surgical technology to provide minimally invasive surgeries that reduce wound size, bleeding, infection risk, and patient recovery time. In 2022, an estimated 1638 surgical robots would be employed for diverse applications. Surgical robots are usually employed in minimally invasive procedures; however they are also used in traditional open surgeries on occasion. According to the Agency for Healthcare Research and Quality, approximately 450,000 complete hip replacements are performed in the United States each year, contributing to the market's overall growth. The expanding number of surgical procedures, driven by the growing global burden of many chronic diseases, will bolster demand for surgical robots. According to the CDC (Centers for condition Control and Prevention), about 6 in 10 adults in the United States have a chronic condition. Robots are increasingly being used in medical operations such as cardiac surgery, cataract surgery, surgical intervention, and orthopedic cancer surgeries to improve outcomes. As a result, the increasing frequency of these surgeries, as well as the subsequent domination of surgical robots, will affect industry developments. Furthermore, the rising prevalence of degenerative bone diseases, as well as the increasing frequency of hip and knee replacement procedures, are driving up demand for surgical robots. This approach is being used by major market companies to produce a micromanipulator for minimally invasive neurosurgery. Furthermore, increased acceptance of surgical robots and increased investment for medical robot research are likely to drive the surgical robot market forward. According to the research report, “Global Surgical Robots Market Overview, 2024-29” published by Actual Market Research, the market is anticipated to cross USD 18 Billion by 2029, increasing from USD 8.84 Billion in 2023. The market is expected to grow with 13.71% CAGR by 2024-29. Surgical robots offer unparalleled precision and accuracy, surpassing the capabilities of the human hand. The robotic systems are designed to perform intricate movements with high degrees of precision, reducing the risk of errors during surgery. This precision is especially crucial in delicate and complex procedures, leading to improved patient outcomes. Surgical robots are versatile and find applications across a wide range of surgical specialties, including urology, gynecology, orthopedics, cardiac surgery, and more. The ability of robotic systems to adapt to diverse surgical procedures contributes to their widespread adoption, making them integral tools in various medical disciplines. Patients are increasingly seeking minimally invasive surgical options due to the associated benefits, including reduced postoperative pain, faster recovery, and shorter hospital stays. Surgical robots facilitate these advantages by allowing surgeons to perform complex procedures with smaller incisions, making them attractive options for both patients and healthcare providers. The global rise in the aging population contributes to an increased prevalence of age-related health conditions that often require surgical intervention. Surgical robots, with their ability to address the complexities of surgeries in older demographics, are witnessing growing demand as healthcare systems strive to meet the needs of an aging population. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare solutions. Surgical robots equipped with tele-presence capabilities allow experienced surgeons to perform procedures remotely, bringing specialized expertise to underserved areas and facilitating healthcare access in remote or pandemic-affected regions. The surgical robots market has attracted significant investments and funding from both public and private sectors. Investors recognize the potential of robotic-assisted surgery in improving patient outcomes and reducing healthcare costs in the long run. This financial support fuels research, development, and innovation in the field. Market Drivers

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Aging Population and Increasing Surgical Demand: The global aging population is a significant driver for the adoption of surgical robots. As the elderly population grows, there is an associated increase in the prevalence of age-related health conditions that may require surgical intervention. Surgical robots, with their precision and ability to perform minimally invasive procedures, become crucial in addressing the rising demand for surgeries in older demographics. The demographic shift towards an older population contributes to the sustained growth of the surgical robots market. Expanded Applications in New Surgical Specialties: The adoption of surgical robots is expanding into new surgical specialties beyond the traditional domains. Initially prevalent in urology and gynecology, robotic-assisted surgery is now making inroads into specialties such as thoracic surgery, colorectal surgery, and head and neck surgery. The versatility of surgical robots, coupled with ongoing technological advancements, allows for the adaptation of robotic systems to a broader range of surgical procedures. This diversification of applications is a key driver propelling the global surgical robots market. Market Challenges

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Regulatory Hurdles and Standardization: The regulatory landscape for surgical robots is evolving, and navigating regulatory approvals can pose a challenge for manufacturers and healthcare providers. Ensuring compliance with diverse international regulations while maintaining a balance between innovation and patient safety is a complex task. Standardization of procedures and protocols for the use of surgical robots across different regions is also an ongoing challenge, as variations in regulatory requirements may impact the adoption and integration of robotic systems. Patient and Surgeon Acceptance: Acceptance among both patients and surgeons is a critical challenge for the widespread adoption of surgical robots. Patients may harbor reservations about the use of robots in their surgeries, and there might be concerns regarding the safety and efficacy of these systems. Surgeons, too, may face resistance or hesitation in adopting new technologies, especially if they perceive a potential disruption to their established surgical practices. Addressing these acceptance challenges involves education, training, and fostering a collaborative approach between healthcare providers, manufacturers, and patients. Market Trends

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Integration of Augmented Reality (AR) and Virtual Reality (VR): The integration of augmented reality and virtual reality technologies is emerging as a trend in the global surgical robots market. These technologies provide surgeons with immersive, three-dimensional views of the surgical site, enhancing visualization and spatial awareness. The combination of AR and VR with surgical robots can potentially streamline complex procedures and contribute to the overall improvement of surgical outcomes. Global Collaborations and Partnerships: Increasing collaborations and partnerships between robotic technology companies, healthcare institutions, and research organizations are shaping the landscape of the surgical robots market. These collaborations aim to leverage the strengths of each partner, combining technological expertise, clinical insights, and research capabilities. Such synergies contribute to the development of more advanced and tailored robotic solutions, fostering innovation and accelerating the adoption of surgical robots on a global scale. Covid-19 Impacts Hospitals around the world faced increased pressure to prioritize resources for COVID-19 patients, leading to the deferral of non-urgent procedures. As a result, the demand for surgical robots, often used in elective surgeries, experienced a temporary decline during the peak phases of the pandemic. The surgical robots market, like many other industries, faced disruptions in the supply chain. Lockdowns, travel restrictions, and manufacturing challenges led to delays in the production and delivery of robotic systems and associated components. This impacted the ability of healthcare providers to acquire new robotic technologies and slowed down the pace of installations and upgrades. Despite the challenges, the emphasis on minimizing patient exposure and reducing the length of hospital stays during the pandemic favored the adoption of minimally invasive surgery (MIS). Surgical robots, known for their role in enabling minimally invasive procedures, became more valuable in this context. The shift towards MIS and the benefits associated with it contributed to the resilience of the surgical robots market. The pandemic highlighted the importance of telemedicine and remote healthcare solutions. Some surgical robots are equipped with telepresence capabilities, allowing surgeons to control the robotic system from a remote location. This capability gained prominence during the pandemic, enabling experienced surgeons to guide and perform procedures even when physically separated from the patient, thereby reducing the risk of virus transmission. The need for reducing the risk of infection and ensuring the safety of healthcare professionals led to an accelerated interest in automation within healthcare settings. Surgical robots, with their precision and the ability to minimize direct contact during procedures, became a focal point in discussions around automated healthcare solutions. Telepresence robots are growing in the surgical robots market due to their ability to enable remote surgery, allowing experienced surgeons to perform procedures from a distance, providing specialized expertise to underserved areas and overcoming geographical barriers. The growth of telepresence robots in the surgical robots market is driven by their transformative impact on healthcare delivery, particularly in overcoming geographical constraints and expanding access to specialized surgical expertise. Telepresence robots are equipped with advanced technologies that enable experienced surgeons to remotely control robotic systems and perform surgical procedures in real-time. This capability is especially significant in addressing the shortage of specialized medical professionals in certain regions or underserved areas where access to expert surgeons may be limited. By leveraging telepresence robots, surgical teams can extend their reach to patients in remote locations, facilitating timely and high-quality surgical interventions. This technology proves crucial during emergencies or in situations where immediate access to specialized medical care is challenging. Additionally, telepresence robots contribute to medical education and training by allowing less experienced surgeons to receive guidance and mentorship from experts located elsewhere. The growth of telepresence robots reflects a paradigm shift in healthcare, where technology enables the democratization of surgical expertise, breaking down geographical barriers and ensuring that patients worldwide can benefit from the knowledge and skills of highly specialized surgeons. As this trend continues, telepresence robots are poised to play a pivotal role in advancing global healthcare accessibility and enhancing surgical capabilities across diverse regions. Services, particularly maintenance and upgradation, are growing in the surgical robots market due to the recognition of the critical role they play in ensuring the long-term functionality, efficiency, and adaptability of robotic systems, addressing the evolving needs of healthcare providers and sustaining the overall value of investments in robotic-assisted surgery. The growing importance of services, specifically maintenance and upgradation, in the surgical robots market stems from the acknowledgment that the full potential of robotic-assisted surgery can only be realized through continuous support, optimization, and adaptation of the underlying technology. As healthcare providers increasingly integrate surgical robots into their clinical practices, the need for robust maintenance services becomes paramount to ensure the consistent and reliable performance of these complex systems. Regular maintenance routines help prevent malfunctions, extend the lifespan of robotic platforms, and uphold the high standards of precision required in surgical procedures. Moreover, the dynamic nature of technological advancements necessitates ongoing upgradation services. The field of robotic surgery is rapidly evolving with continuous innovations, and healthcare providers seek to keep their systems current with the latest software updates, hardware enhancements, and technological refinements. Upgradation services not only enhance the overall functionality of surgical robots but also ensure compliance with evolving regulatory standards and the incorporation of new features that contribute to improved surgical outcomes. Recognizing the long-term investment in surgical robots, healthcare institutions prioritize services that guarantee the adaptability and optimization of their robotic systems, thus securing the sustainability and efficiency of robotic-assisted surgery in the evolving landscape of healthcare. The growth of services in the surgical robots market underscores the commitment to maintaining technological excellence and maximizing the value of these advanced medical tools throughout their operational lifecycle. Neurosurgery is growing in the surgical robots market due to the intricate nature of neurological procedures, where surgical robots offer unprecedented precision, enhanced visualization, and the ability to navigate complex anatomical structures with minimal invasiveness, thereby improving patient outcomes and safety. The growth of neurosurgery in the surgical robots market is propelled by the unique challenges and complexities inherent in neurological procedures, which demand the highest levels of precision and delicacy. Neurosurgical interventions involve intricate maneuvers within the brain and spinal cord, where even minor deviations can have profound consequences. Surgical robots, equipped with advanced imaging capabilities and precise robotic arms, provide neurosurgeons with an invaluable toolset to navigate the intricacies of the human nervous system. The precision offered by surgical robots is particularly crucial in procedures such as brain tumor removals, deep brain stimulations, and spinal surgeries, where accuracy is paramount to preserving vital neural structures. Additionally, the minimally invasive nature of robotic-assisted neurosurgery reduces trauma to surrounding tissues, mitigating the risk of complications, and expediting patient recovery. The enhanced visualization provided by robotic systems allows surgeons to access and treat lesions in challenging anatomical locations with improved accuracy and safety. As the field of neurosurgery continues to explore the frontiers of precision medicine, surgical robots emerge as indispensable tools, offering neurosurgeons the capabilities needed to address the intricate nuances of the nervous system. The growth of neurosurgery in the surgical robots market underscores the potential for these advanced technologies to redefine and elevate the standards of care in one of the most intricate and critical medical specialties. Ambulatory Surgery Centers (ASCs) are growing in the surgical robots market due to the increasing demand for minimally invasive procedures, coupled with the efficiency, cost-effectiveness, and quicker patient turnover offered by robotic-assisted surgeries in the ambulatory setting. The growth of Ambulatory Surgery Centers (ASCs) in the surgical robots market reflects a strategic response to the changing landscape of healthcare delivery, characterized by a shift towards outpatient care and minimally invasive procedures. ASCs, as specialized facilities designed for same-day surgical interventions, have recognized the potential of surgical robots to enhance their capabilities in offering a wide range of procedures with efficiency and precision. The demand for minimally invasive surgeries, facilitated by robotic assistance, aligns seamlessly with the goals of ASCs to provide high-quality care while minimizing patient recovery times and optimizing resource utilization. The efficiency and cost-effectiveness of robotic-assisted surgeries in the ambulatory setting contribute to quicker patient turnover, allowing ASCs to accommodate more procedures and improve overall operational efficiency. Additionally, the reduced invasiveness and shorter recovery times associated with robotic-assisted procedures make them particularly appealing to patients seeking outpatient surgical options. The integration of surgical robots in ASCs caters to the growing preference for same-day surgeries, aligning with broader healthcare trends emphasizing personalized and convenient patient care. As ASCs continue to evolve as essential components of the healthcare ecosystem, the adoption of surgical robots positions them as advanced centers capable of offering cutting-edge, minimally invasive surgical solutions with enhanced precision, ultimately contributing to the growth of the surgical robots market in ambulatory settings. Asia-Pacific is growing in the surgical robots market due to increasing healthcare infrastructure development, rising healthcare expenditures, and a growing demand for advanced medical technologies in the region. The growth of the surgical robots market in Asia-Pacific can be attributed to a combination of factors contributing to the region's dynamic healthcare landscape. As countries within Asia-Pacific continue to witness rapid economic development, there is a parallel increase in healthcare infrastructure investments. Governments and private entities are allocating substantial resources to bolster their healthcare systems, aiming to meet the evolving needs of their populations. This development extends to the integration of advanced medical technologies, such as surgical robots, into the region's healthcare facilities. The rising healthcare expenditures in countries like China, Japan, and South Korea reflect a commitment to providing high-quality medical care and fostering innovation in healthcare delivery. Moreover, as awareness of the benefits of minimally invasive surgeries grows among both healthcare providers and patients, there is a surging demand for surgical robots to facilitate these advanced procedures. The convergence of economic growth, healthcare infrastructure expansion, and a heightened focus on advanced medical technologies positions Asia-Pacific as a key driver in the global growth of the surgical robots market. As the region continues to invest in healthcare modernization, surgical robots are expected to play a pivotal role in shaping the future of surgical practices across Asia-Pacific. Key companies are increasingly focusing on introducing innovative technologies and entering into various strategic collaborations with orthopedic centers & other industry players to acquire new capabilities in surgical robots to maintain their competitive edge. Companies are also undertaking other strategies, such as new product launches and collaborations & partnerships. Moreover, rising demand for automated surgical instruments globally is likely to promote the entry of new companies into the market. Furthermore, these companies plan to expand their robotic systems' applications to include spine, shoulder, and other surgical procedures in the near future. The global market for surgical robots is mainly concentrated in developed regions such as North America, Europe, and Asia Pacific. The market is expected to grow significantly in the coming years, driven by increasing awareness of the disease, advancements in treatment options, and rising prevalence. North America is the leading market for surgical robots, with the United States playing a major role in its growth. • On June 2023, Apollo Hospitals, Ahmedabad, launched the Da Vinci Xi Robotic Surgical System, a ground-breaking advancement in surgical procedures. This state-of-the-art technology promises enhanced precision and superior patient care, revolutionizing surgical healthcare and improving clinical outcomes. The system is designed for Oncology, Urology, Colorectal, General Surgery, Gynaecology & Gastro-Intestinal surgeries, offering exceptional accuracy, efficiency & safety. Robotic surgery offers minimally invasive incisions, reduced scarring, and shorter recovery times compared to traditional methods. It also lowers complications like infections and scarring. • On May 2023, Moon Surgical, a robotics startup, closed a $55.5 million funding round, raising its total funding to $90 million. The round was steered by Sofinnova Partners and NVentures, Nvidia's venture capital arm. Fred Moll, founder of Intuitive Surgical and Auris Health, was also an investor in the round. Moon focuses on developing and commercializing its Maestro system, a two-arm robotic system that enhances surgeons' capabilities by providing an extra set of arms and hands. The Maestro system has received FDA & European regulatory clearance and is set to be used in the U.S. & European Union laparoscopic procedures. • On May 2023, Virtuoso Surgical introduced a new robotic surgery system to expand the scope of endoscopic surgery. The system consists of two 1mm diameter manipulators controlled by robots operating from a rigid endoscope. The endoscope is smaller than a 5-pence coin and can be equipped with various manipulators for various procedures. The system has shown feasibility in animal and tissue models and offers dexterity in processes involving tools delivered through rigid endoscopes. The CEO explains that Virtuoso allows surgeons to lift tissue, apply tension, and maintain traction in tight spaces, making it a ground-breaking advancement in endoscopic surgery. • On May 2023, Smith+Nephew introduced two new products for its robotics and digital surgery portfolio, the data visualisation platform RI.Insights and personalised planning (powered by AI). By transforming data into contextual intelligence, these solutions help surgeons understand how preoperative strategies and intraoperative choices affect postoperative results. The Cori robotic surgery system for knee replacement is enhanced by Personalised Planning and RI.Insights, which let surgeons place the initial implant based on AI-guided reference values, patient preferences, and deformities. Surgeons will be able to compare the results of individual cases and benchmark data against a global anonymized database using RI.Insights as well. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Surgical Robots market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Surgical Robot Function • Laparoscopic robots • Endoscopic robots • Microsurgical robots • Robot-assisted radiosurgery • Rehabilitation robots • Telepresence robots By Product & Services • Instrument & Accessories • Surgical systems • Services (Maintenance & Up gradation) By Application • Orthopetical Surgery • Gynecological Surgery • General Surgery • Urological Surgery • Neurosurgery • Other Applications By End Use • Hospitals & Clinics • Ambulatory Surgery Centers • Refrigerated Transportation The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Surgical Robots industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.