Surgical Robots Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Accuracy in Surgeries

 

Surgical robots in healthcare facilities provide minimally invasive surgical procedures, reducing risk factors and hospital stays for patients. The integration of surgical robots allows surgeons to perform complex surgeries accurately with robotic arms, high-definition 3D cameras, and tiny wrist-like instruments. Surgical robots improve surgical outcomes with their precision in suturing, dissecting, and delivering therapy directly.

The Global Surgical Robots Market Size is estimated to be valued at US$ 1,177.3 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption of surgical robots by healthcare facilities is growing significantly to enhance medical treatments through minimally invasive procedures. Hospitals are incorporating robot-assisted technologies to upgrade their surgical capabilities, reduce risks for patients, and offer long-term therapeutic benefits. The increasing focus on healthcare infrastructure development and modernizing facilities, especially in emerging nations, is propelling the demand for surgical robots. With their advantages of precision, 3D imaging, small incisions and quicker recovery times, the integration of robots is revolutionizing complex operations across various therapeutic areas.

Segment Analysis

The global surgical robots market is dominated by the orthopedic surgery segment. Orthopedic surgery robots are highly accurate and scalable making them an increasingly important tool for surgeons to repair fractures, perform joint replacement, and address bone diseases. The precise movements of surgical robots allows for minimally invasive surgeries and thereby less scarring, pain, blood loss and faster recovery times for orthopedic patients compared to traditional open surgeries. This has resulted in rising demand for orthopedic surgery robots from both hospitals and patients.

Key Takeaways

The global surgical robots market is expected to witness high growth over the forecast period of 2024 to 2031. The global Surgical Robots Market is estimated to be valued at US$ 1,177.3 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.

Regional analysis: North America currently dominates the surgical robots market and is expected to continue its dominance over the forecast period. Significant investments and adoption of new technologies along with favorable reimbursements are driving the North American surgical robots market. Asia Pacific is projected to be the fastest growing regional market for surgical robots. Rising medical tourism coupled with increasing healthcare expenditures is boosting the APAC surgical robots market.

Key players: Key players operating in the surgical robots market are Merck & Co., Inc., Ferring Pharmaceuticals, Inc., EMD Serono, Inc., Pfizer Inc., Novartis AG. These players are focusing on new product launches and enhancing their existing robot-assisted surgery platforms to consolidate their market shares. Strategic collaborations with hospitals and research organizations are also being pursued by leading surgical robot companies to further strengthen their foothold in high growth markets.

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