"Designing Growth Strategies is in our DNA"

AI-based Surgical Robots Market Size, Share & Industry Analysis By Product Type (Services, Instruments & Accessories) By Application (Orthopedics, Neurology, Urology, Gynecology, Other) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106330 | Status : Ongoing

 

KEY MARKET INSIGHTS

Surgical robots are competent to control the trajectory and speed of their movements with huge precision. They are perfect for procedures that need similar, recurring movements as they can work without tiredness, and artificial intelligence is applied to surgical robotics.  The market growth is augmented by various aspects such as technological advancement in surgical robots and growing incidences of chronic diseases. For example, as per World Health Organization (WHO), chronic disease prevalence is anticipated to increase by 57% by 2020. Additionally, mounting minimally invasive surgeries and shifting from traditional surgical procedures to AI-based approaches increased market growth.


AI-based surgical robots market is anticipated to register strong growth in the projected timeframe owing to factors such as technological advancement in surgical robots as consolidating AI control algorithms with the built-in advantages of surgical robots benefit surgical practice by reducing technical errors and operative times, improving access to hard-to-reach body areas and improving outcomes by removing the potential for human error. For instance, according to Frontiers in Robotics and AI, the performance and precision of semi-autonomous surgical robots have been proved clinically.  For example, in January 2021, Freehand, a UK-based MedTech company, announced a collaboration with Imperial Medical Solutions (IMS), a clinician-led healthcare consultancy, to promote the adoption of its surgical robots by hospitals in India Sri Lanka, Malaysia, and the Caribbean.

However, the higher cost associated with the surgical procedures is hampering the market growth. Additionally, COVID-19 has also significantly impacted the development of the market. To control the coverage of the virus, healthcare institutions worldwide diminished elective surgeries, which resulted in a decline in any new product acquisition. Becker’s Hospital Review in 2021 specified that about 106 hospitals in the U.S. postponed elective procedures amid pandemics, therefore, restraining the market growth.

Up Arrow

Key Market Driver -

Technological advancement in surgical robots propel the AI-based surgical robots market growth.

Down Arrow

Key Market Restraint -

High Cost of Surgical Procedures and Pandemic Impact


Market Segmentation:


Globally, the AI-based surgical robots market can be segmented into product type, application, and geography. On a product type basis, the market has been divided into services, instruments, and accessories.  The market can be categorized into orthopedics, neurology, urology, gynecology, and other applications based on application segmentation. The AI-based surgical robots market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Key Players Covered:


Accuray Incorporated, Intuitive Surgical, Inc., Medtronic, plc, Medrobotics Corporation, Zimmer Biomet, Stereotaxis, Inc., TransEnterix, Inc. (Asensus Inc.), Stryker Corporation, Activ Surgical, Inc., Titan Medical, Inc., CMR Surgical, Inc., Smith and Nephew, and other prominent players

Key Insights:



  • Technological Advancements in AI-based Surgical Robots Market

  • COVID-19 Impact on AI-based Surgical Robots Market

  • Key Industry Developments (Mergers, Acquisitions, And Collaborations)


 Regional Analysis:


To gain extensive insights into the market, Request for Customization


Based on the segmentation of the region, the global AI-based surgical robots market can be alienated in North America, Europe, Asia -Pacific, Latin America, and the Middle East & Africa. North America region is anticipated to hold its leading position over the forecast duration. Dynamics such as the presence of major companies and new products by them, increasing opportunities for start-ups to enter the market, and higher investments in research and development are attributed to the market's growth in North America. For instance, in January 2021, GBT Technologies Inc. announced the commencement of research in AI-based robotics technology for the medical field. The Asia Pacific region is proposed to grow at the highest CAGR primarily due to the climbing geriatric population, increasing government initiatives to promote AI-based surgery, the increasing unmet medical requirements, and technological advancement. According to Asian Robotics Review, the surgical robotics market might get doubled by 2025. The governments are undertaking more significant initiatives, and the presence of various large population bases is boosting Asia Pacific's growth. Latin America, Middle East, and Africa are anticipated to grow slower than other regions due to limited patient awareness.

Segmentation






















  ATTRIBUTE

  DETAILS

By Product Type

 



  • Services

  • Instruments & Accessories



By Application



  • Orthopedics

  • Neurology

  • Urology

  • Gynecology

  • Other



By Geography



  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, the Rest of Latin America)

  • Middle East & Africa (South Africa, Saudi Arabia, and the Rest of the Middle East & Africa)



Global AI-based Surgical Robots Market Industry Developments:



  • In June 2020, RSIP Vision, AI based medical applications reduced the dependence on human skills and improved surgical procedures and outcomes.

  • In July 2021, Medtronic plc announced the addition of the Hugo robotic-assisted surgery (RAS) system at Hospital Clinico de la Red de Salud UC CHRISTUS in Santiago, Chile, to assist the teaching institutions about new robotic surgery program.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Healthcare Clients
Styker
Lek
Fresenius
Ipsos
iqvia
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X