Surgical Robotics Market
The surging number of surgical procedures and the growing prevalence of chronic diseases are among the prominent factors driving the surgical robotics market. However, the high cost of robotic surgeries and the installation of surgical robots limit the growth of the market.
Incorporation of AI-Based Features in Surgical Robots Expected to Bring New Trends in Surgical Robotics Market
The surgical robotics market players are focused on developing new products to grow their geographic reach and enhance capacities to cater to a greater than existing customer base with cutting-edge technology that meets evolving surgical needs. The integration of artificial intelligence in surgical robots helps provide real-time analysis, decision support, and predictive analysis. During surgeries, such robots can reduce human errors, identify critical areas, and optimize surgical planning. For instance, in May 2023, Smith+Nephew, the global medical technology company, introduced two key products for its robotics and digital surgery portfolio—Personalized Planning powered by AI and RI.INSIGHTS Data Visualization Platform. Advanced AI analytics platform integrated with the CORI Surgical System will offer personalization when performing joint replacement procedures. Similarly, in July 2024, Medtronic launched Touch Surgery Live Stream—an AI platform for robotic surgery. Touch Surgery Live Stream includes 14 new AI algorithms designed to enhance its digital capabilities within post-operative analysis. The algorithms deliver AI-powered surgical insights for laparoscopic and robotic-assisted surgery. Also, in August 2023, the Centre for Artificial Intelligence and Robotics (CAIR), a research center under the Chinese Academy of Sciences, completed three successful trials on MicroNeuro—which is fitted with a flexible endoscope and leverages AI and precision control to perform accurate and precise surgeries on brain tissue. Such developments will ensure surgical safety, reduce surgeon’s labor-intensive tasks, and enable unprecedented novel surgical treatments leading to improved surgical outcomes for patients. Therefore, the development of AI-based surgical robots is expected to bring new trends in the surgical robotics market in the coming years.
Based on geography, the surgical robotics market is segmented into North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). The US held the largest share of the market in North America in 2023. The surgical robotics market in the US is expected to grow owing to a receiving approval of technologically advanced products in the market. For instance, in March 2024, Intuitive, a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, announced that the US Food and Drug Administration (FDA) provided 510(k) clearance for da Vinci 5—the company’s next-generation multiport robotic system. Similarly, in June 2024, Moon Surgical, a French-American pioneer in surgical innovation, received clearance from the FDA for the commercial version of its unique Maestro surgical system. In addition, the presence of various market leaders operating in the US contributes notably to the expansion of the surgical robotics market size.
The surgical robotics market is segmented on the basis of type, application, material and end user.
- Based on type, the surgical robotics market is segmented into instruments and accessories, robotic systems, and services. The instruments and accessories segment is further subsegmented into energy instruments, forceps, needle drivers, clip appliers, irrigators, and others. The robotic systems segment is subsegmented into laparoscopy robotic systems, orthopedic robotic systems, neurological robotic systems, and others. The instruments and accessories segment held the largest share of the market in 2023.
- By application, the market is segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, cardiovascular surgery, thoracic surgery, neurosurgery, and others. The general surgery segment accounted for the largest share of the market in 2023.
- By material, the market is segmented into plastics, metal, and aluminum. The metal segment accounted for the largest share of the market in 2023.
- Based on end user, the surgical robotics market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment dominated the market in 2023.
Surgical Robotics Market: Competitive Landscape and Key Developments
STERIS, Stryker, Medtronic, Renishaw, Johnson & Johnson, CMR Surgical, Smith & Nephew Plc, Zimmer Biomet, Intutive Surgical Inc, THINK Surgical Inc, Titan Medical Inc., Vicarious Surgical, Asensus Surgical Inc, Moon Surgical, Momentis Surgical, Virtual Incision, and EndoQuest Robotics Inc are among the leading companies profiled in the surgical robotics market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. These companies focus on geographic expansions and new product launches to meet the surging demand from consumers worldwide and increase their product range in specialty portfolios. Their global presence allows them to serve a large customer base, subsequently facilitating market expansion.
