Next Generation Surgical Robotics Market by Surgery Type (Gynaecology Surgery, Urology Surgery, Neurosurgery), End-user (Hospitals, Ambulatory Surgical Centres), & Region for 2024-2031
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationNext Generation Surgical Robotics Market by Surgery Type (Gynaecology Surgery, Urology Surgery, Neurosurgery), End-user (Hospitals, Ambulatory Surgical Centres), & Region for 2024-2031
Next Generation Surgical Robotics Market Valuation – 2024-2031
The growing need for less invasive operations, improvements in robotic technologies that improve surgical precision, and the rising incidence of chronic diseases that require sophisticated surgeries are driving the next generation surgical robotics market. According to the analyst from Market Research, the next generation surgical robotics market size is estimated to reach a valuation of USD 12.87 Billion by 2031 over the forecast subjugating around USD 3.99 Billion valued in 2024.
The growing acceptance of telepresence and remote surgery technologies, together with investments in R&D for revolutionary robotic platforms, drives market expansion. It enables the market to grow at a CAGR of 17.40% from 2024 to 2031.
Next Generation Surgical Robotics MarketDefinition/Overview
Next generation surgical robotics refers to the most recent breakthroughs in robotic technology built exclusively for surgical procedures. These systems typically consist of robotic arms with surgical equipment that surgeons control via a console interface. Their precise movements and dexterity enable complex surgical techniques with greater accuracy and control than older approaches.
Furthermore, these robotic systems have applications in a variety of surgical specialties, including urology, gynecology, cardiothoracic surgery, orthopedics, and general surgery. They are used in urology for prostatectomies and kidney operations, and in gynecology for hysterectomies and myomectomies. They help in cardiothoracic surgery treatments such as mitral valve repair and coronary artery bypass grafting. They are also used in orthopedic surgeries for joint replacements and spinal procedures, as well as in general surgery for hernia repair and colorectal surgery.
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What are the Key Driving Factors Propelling the Growth of the Next Generation Surgical Robots Market?
New developments in robotics, artificial intelligence (AI), machine learning, and sensor technology drive the development of next-generation surgical robots. These technologies help robots to perform increasingly complicated operations with greater precision, productivity, and safety. Surgeons benefit from improved representation, dexterity, and control, resulting in better patient outcomes and reduced recovery times.
There’s an increasing demand for minimally invasive surgical techniques due to their multiple advantages over standard open surgeries, such as smaller incisions, lower discomfort, shorter hospital stays, and faster recovery times. Thus, Next-generation surgical robots provide improved capabilities for performing minimally invasive procedures with greater accuracy and control, driving their adoption in a variety of surgical specialties.
Furthermore, the global prevalence of chronic diseases such as cardiovascular disease, cancer, and neurological disorders is increasing, driving up demand for surgical procedures. Also, as the world’s population ages, surgical procedures for age-related illnesses become more common. Next-generation surgical robots have improved capabilities for performing complex surgeries with higher precision, making them essential instruments for meeting the healthcare needs of an aging population with many comorbidities, thereby propelling market growth.
What are the Primary Challenges that Hinder the Growth of the Market?
The expensive expense of purchasing, maintaining, and updating next-generation surgical robotics is a major barrier to wider adoption. Hospitals and surgical centers must make large financial investments not just in purchasing robots, but also in training surgeons and personnel. In addition, continuing maintenance and software updates are costly, making it difficult for smaller or less-funded institutions to justify their commitment, hence limiting market expansion.
Furthermore, surgical robots, as complicated and life-critical devices, are subjected to rigorous regulatory examination to ensure their safety and effectiveness. The procedure of receiving approval from agencies such as the FDA (U.S. Food and Drug Administration) is time-consuming and difficult. Manufacturers must do large clinical trials and give significant evidence of safety and benefit, which is both costly and time-consuming. Also, every system failure has substantial consequences, making reliability a major problem and affecting market expansion.
Category-wise Acumens
What are the Key Factors Driving the Adoption of Next-Generation Surgical Robotics in Gynaecology Surgery?
The gynaecology surgery is estimated to exhibit substantial growth within next-generation surgical robotics due to the demand for minimally invasive procedures, enhanced precision in delicate surgeries, reduced postoperative complications, and shorter recovery times. Additionally, the versatility of robotic systems allows for complex procedures such as hysterectomies and myomectomies with improved outcomes.
The ongoing growth of surgical robot technology, including advances in precision, flexibility, and control, makes these systems ideal for difficult gynecological procedures. Improved imaging and control systems enable more precise minimally invasive surgery (MIS), which is essential for delicate gynecological procedures. These developments serve to cut operating timelines, improve recovery rates, and reduce scarring, all of which are substantial benefits for patients undergoing gynecologic surgery.
Furthermore, the growing frequency of gynecological illnesses among women around the world, such as uterine fibroids, endometriosis, and cervical cancer, is driving the need for effective and accurate surgical procedures. Robotic systems provide excellent precision and control, making them perfect for treating certain disorders. The capacity of these technologies to perform complex dissections and remove malignancies with excellent accuracy pushes their adoption in gynecological procedures.
How do Hospitals Propel the Adoption of Next-Generation Surgical Robotics?
The hospital segment is estimated to dominate the market during the forecast period. Hospitals benefit from the adoption of next-generation surgical robotics by offering advanced minimally invasive procedures, attracting patients seeking superior surgical outcomes and shorter hospital stays. Additionally, robotic systems contribute to improved efficiency in operating rooms, reduced surgical complications, and enhanced patient satisfaction, positioning hospitals as centers of excellence in surgical care.
Continuous advancements in robotics technology, such as increased precision, adaptability, and results, are encouraging hospitals to invest in next-generation surgical robotics. These improvements enable minimally invasive surgeries with smaller incisions, shorter recovery times, and a lower chance of problems, which are appealing benefits for hospitals seeking to enhance patient outcomes and satisfaction.
Furthermore, many governments and healthcare organizations are supporting the use of modern medical technologies to improve healthcare quality. This involves financial incentives, funding for technological advancements, and attractive reimbursement policies for robotic surgery. Such assistance makes it financially feasible for hospitals to invest in costly robotic systems and encourages them to adopt sophisticated surgical technology into their operations.
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Country/Region-wise acumens
What Factors Contribute to the Dominance of the North American region in the market?
North America is estimated to dominate the next-generation surgical robotics market within the forecast period due to factors such as early adoption of advanced medical technologies, the presence of key market players, favorable reimbursement policies, and increasing demand for minimally invasive surgical procedures. Moreover, robust healthcare infrastructure and high healthcare expenditure in countries like the United States and Canada further propel market growth in the region.
Many leading businesses and research institutions in North America are dedicated to the development of medical technologies, including surgical robotics. The region benefits from significant investments in R&D, which promotes innovation and constant development in robotic systems. This atmosphere not only promotes the development of cutting-edge technology but also enables their early acceptance within local healthcare systems.
Furthermore, North America, particularly the United States, has a highly developed healthcare infrastructure focused on technological innovation and acceptance. This sturdy infrastructure facilitates the integration of new technology such as next-generation surgical robotics, allowing hospitals and surgical centers to more easily install these systems.
What Drivers Propel the Demand of Next Generation Surgical Robotics in Europe?
Europe region is estimated to exhibit substantial growth during the forecast period driven by factors such as the increasing prevalence of chronic diseases, the rising geriatric population, and the growing demand for advanced surgical procedures. Countries like Germany, France, and the United Kingdom are at the forefront of adopting robotic-assisted surgical technologies, supported by favorable regulatory frameworks, strong healthcare systems, and investments in research and development.
Europe has a robust network of collaborative research initiatives, which are backed by public-private partnerships and funding from organizations such as the European Union. Horizon Europe and other similar programs encourage research and innovation in a variety of disciplines, including medical technology. This promotes the development and integration of modern surgical robotics throughout the region, hence driving market growth.
Furthermore, Europe has one of the greatest percentages of older people in the world, which increases demand for surgical operations, particularly those that are less intrusive and have shorter recovery times, such as those conducted by surgical robots. This demographic trend is causing hospitals to implement innovative surgical solutions to improve the quality of life for older persons and handle the increased volume of surgeries more efficiently.
Competitive Landscape
The landscape for the next-generation surgical robotics market is a dynamic and rapidly evolving space with several key players competing for market share and technological dominance.
Some of the prominent players operating in the next generation surgical robotics market include
- Intuitive Surgical Inc.
- Stryker Corporation
- Medtronic plc
- Johnson & Johnson
- Zimmer Biomet Holdings Inc.
- Verb Surgical
- Accuray Incorporated
- TransEnterix Surgical Inc.
- Mazor Robotics Ltd.
- Smith & Nephew plc
- Renishaw plc
- Hansen Medical Inc.
- Titan Medical Inc.
- CMR Surgical Ltd.
- Microbot Medical Inc.
Latest Developments
- In January 2021, Corine Group announced the release of 2.7 Omnibotics. It will be used in complete knee replacement surgery, which uses an enhanced robotic assistance platform.
- In August 2021, Intuitive submitted a premarket notification (510(k)) application to the FDA for their next-generation da Vinci surgical robot, unofficially referred to as Da Vinci 5 [1]. This move signaled significant progress in their development.
- In 2021, Medtronic plc. Hugo’s Robotic-Assisted system offered a unique design with multiple arms, potentially providing surgeons with more dexterity and flexibility compared to traditional robotic systems.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~17.4o% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | Intuitive Surgical Inc., Stryker Corporation, Medtronic plc, Johnson & Johnson, Zimmer Biomet Holdings Inc., Verb Surgical, Accuray Incorporated, TransEnterix Surgical Inc., Mazor Robotics Ltd., Smith & Nephew plc, Renishaw plc, Hansen Medical Inc., Titan Medical Inc., CMR Surgical Ltd., Microbot Medical Inc. |
| Customization | Report customization along with purchase available upon request |
Next Generation Surgical Robotics Market, By Category
By Surgery Type
- Gynaecology Surgery
- Urology Surgery
- Neurosurgery
- Orthopedic Surgery
- General Surgery
- Others
By End-user
- Hospitals
- Ambulatory Surgical Centres
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
Middle East & Africa
Research Methodology of Market Research
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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