Evolve Business Intelligence has published a research report on the Global Robotic Surgery Market, 2023–2033. The global Robotic Surgery market is projected to exhibit a CAGR of around 18.21% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Robotic Surgery Market: Stryker Corporation, Medrobotics, Smith & Nephew, TransEnterix Surgical, Inc, Renishaw plc, Intuitive Surgical, Medtronic, CMR Surgical, THINK Surgical, Inc, Zimmer Biomet.
Market Highlights
The Robotic Surgery market is projected to be valued at USD 10.20 Billion by 2033, recording a CAGR of around 18.21% during the forecast period. Robotic surgery, also known as robot-assisted surgery, is a minimally invasive surgical technique that employs advanced robotic systems to assist surgeons in performing complex procedures with enhanced precision and control. These robotic systems consist of robotic arms equipped with surgical instruments and a high-definition camera, which are controlled by the surgeon from a console. The surgeon’s hand movements are translated into precise, scaled movements by the robot, enabling intricate and delicate surgeries with reduced invasiveness, smaller incisions, less blood loss, and faster patient recovery. Robotic surgery is widely utilized in various medical specialties, such as urology, gynecology, and general surgery, to improve surgical outcomes and patient well-being.
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The COVID-19 pandemic had a moderate impact on the Robotic Surgery market. While the pandemic initially disrupted elective surgical procedures and strained healthcare resources, the adoption of robotic surgical systems remained resilient. As hospitals and surgical facilities adapted to the new safety protocols, the advantages of robotic surgery, such as reduced physical contact between medical staff and patients, precision, and shorter hospital stays, gained prominence. The pandemic highlighted the importance of advanced technologies in healthcare, which, in turn, accelerated the acceptance and integration of robotic surgery systems into medical practices. As a result, the market experienced a moderate impact with long-term growth prospects as the healthcare industry increasingly embraces these innovative surgical solutions.
Segmental Analysis
The global Robotic Surgery market has been segmented based on Component, Service, and region.
Based on the Component, the Robotic Surgery market is segmented based on Surgical Systems, and Accessory. Surgical System is expected to have the largest market share throughout the forecast period, while Accessory is expected to grow at the fastest rate.
Based on the Service, the global Robotic Surgery market has been divided into Areas of Surgery, Gynecological Surgery, Cardiovascular, Neurosurgery, Orthopedic Surgery, Laparoscopy, Urology, and others. The Area of Surgery segments are anticipated to dominate the market.
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Regional Analysis
The Robotic Surgery market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America, particularly the U.S., stands as a leader in the market, with a robust healthcare infrastructure, extensive adoption of robotic surgical systems, and ongoing technological advancements. In Europe, countries such as Germany and the U.K. have embraced robotic surgery, fostering growth in the region, while the Asia-Pacific region, led by nations like Japan and China, exhibits significant potential for market expansion, driven by an increasing need for minimally invasive procedures. Latin America is gradually incorporating robotic surgery into its healthcare systems, while the Middle East, especially the UAE, showcases growing interest and investment in this technology. Africa is witnessing a slow but steady emergence of robotic surgery, reflecting the global diversity and evolving nature of the Robotic Surgery market.