Overview and Scope
Robotic surgery is a form of minimally invasive surgery in which doctors insert a succession of extremely small incisions and tiny surgical equipment into a patient’s body. Robotic surgery is the process of performing a surgery using tools that are attached to a robotic arm. It is used to perform surgery with high precision.
Sizing and Forecast
The robotic surgery services market size has grown rapidly in recent years. It will grow from $1.01 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to rise in use of surgical robots, growth in the number of healthcare facilities, favorable government legislations and increased healthcare spending and rapid growth in the elderly population.
The robotic surgery services market size is expected to see rapid growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to increasing product launches, minimally invasive surgeries, increasing prevalence of chronic diseases and rise in healthcare expenditure. Major trends in the forecast period include in-vivo robots in surgery services, new technology development, increase in merger and acquisition activities, nanobots in surgery services and artificial intelligence in robotic surgery services.
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Segmentation & Regional Insights
The robotic surgery services market covered in this report is segmented –
1) By Component: Systems, Accessories, Services
2) By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopaedics Surgery, Neurosurgery And Other Applications.
3) By End-Use: Hospitals And Ambulatory Surgery Centers (Ascs).
North America was the largest region in the robotic surgery services market in 2023. Western Europe was the second largest region in the global robotic surgery services market share. The regions covered in the robotic surgery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. For instance, Intuitive Surgical, the robotic surgical giant, In 2022, approximately 1,875,000 surgical procedures were performed using da Vinci Surgical Systems, up from 18% compared with approximately 1,594,000 surgical procedures performed using da Vinci Surgical Systems, and revenues from da Vinci Surgical Systems in the fourth quarter were approximately $1.66 billion in 2022, up from 7% compared with $1.55 billion in 2021..Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of the robotic surgery services market.
Key Industry Players
Major companies operating in the robotic surgery services market report are Tenet Healthcare Corporation, HCA Healthcare, Inc, Asklepios Kliniken Verwaltungsgesellschaft Mbh, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Fortis Healthcare, Bangkok Hospital, Spire Healthcare Group plc, Saudi German Hospitals Group, Raffles Medical Group, SS Innovations Private Limited, Private Limited, CMR Surgical India Pvt. Ltd, Medicaroid Corp, Asahi Surgical Robotics Co Ltd, HOZ Medical, Medtronic Australasia, Taimi Robotics Technology, Wenshi Robot, Borns Medical RoboticsK, ewei Robot, Horizon Robotics, Avateramedical GmbH, Zimmer Biomet Robotics, Medtech SA, KB Medical SA, Senhance, Archer Daniels Midland Company, Barentz Group Companies, CHR Hansen , Asensus Surgical, Intuitive, Medrobotics Corporation, Medical Inc, Smith & Nephew, Restoration Robotics, Hansen Medical, RTI Connext DDS, Robotic Surgerya, Stryker Corporation, Mazor Robotics, Renishaw Plc, Stereotaxis Inc, Capsa Healthcare, ReWalk Robotics, Hocoma, Accuray Incorporated, Corindus, InTouch Health Inc
The robotic surgery services market report table of contents includes:
1. Executive Summary
2. Robotic Surgery Services Market Characteristics
3. Robotic Surgery Services Market Trends And Strategies
4. Robotic Surgery Services Market – Macro Economic Scenario
5. Global Robotic Surgery Services Market Size and Growth
…
32. Global Robotic Surgery Services Market Competitive Benchmarking
33. Global Robotic Surgery Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Robotic Surgery Services Market
35. Robotic Surgery Services Market Future Outlook and Potential Analysis
36. Appendix
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