Robotic Surgical Procedures Market Size, Share & Segmentation By Application (Gynaecology, Surgery, Orthopaedics, Urology, Others) and By Regions Global Market Forecast 2024-2031

Robotic Surgical Procedures Market Report Scope and Overview:

The Robotic Surgical Procedures Market size was USD 11.69 Billion in 2023 and is expected to reach USD 56.26 Billion by 2031 and grow at a CAGR of 21.7% over the forecast period of 2024-2031.

The Robotic Surgical Procedures Market refers to the market for surgical procedures that are performed using robotic systems. Robotic surgery is a minimally invasive surgical technique that utilizes robotic systems to assist surgeons in performing complex procedures with precision and control. Robotic surgical systems typically consist of a robotic arm or multiple robotic arms controlled by the surgeon, a camera system that provides a 3D view of the surgical site, and specialized surgical instruments. The surgeon operates the robotic system from a console, where they manipulate the controls that translate their hand movements into precise movements of the robotic arms.

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The robotic surgical procedures market has witnessed significant growth in recent years due to several advantages offered by robotic surgery over traditional open surgery or laparoscopic surgery. These advantages include improved precision, enhanced dexterity, better visualization of the surgical site, reduced trauma to patients, shorter hospital stays, and faster recovery times. The market for robotic surgical procedures encompasses various medical specialties, including urology, gynecology, general surgery, orthopedics, cardiothoracic surgery, and neurosurgery. The adoption of robotic surgery has been particularly prominent in urological and gynecological procedures, such as prostatectomy and hysterectomy, respectively.

The rising frequency of bone degenerative illnesses, as well as the rising number of hip and knee replacement procedures due to increased occurrences of arthritis and osteoporosis, are expected to drive market growth. As Agency for Healthcare Research & Quality, about 4,54,450 hip replacement procedures are conducted in the U. S every year.

The market for robotic surgical procedures is expected to continue growing as technology advances, more surgical procedures become amenable to robotic assistance, and the benefits of robotic surgery become more widely recognized. However, it is important to note that the availability and adoption of robotic surgical systems can vary across different regions and healthcare settings.

MARKET DYNAMICS

DRIVERS:

• Key Players Introduce Advanced Robotic Surgical Systems to Drive Market Growth in this market.

• Patients will need surgical procedures as the prevalence of chronic disorders rises.

The increased frequency of chronic illnesses such as cancer, cardiovascular disease, and orthopaedic issues creates a big pool of individuals requiring surgical treatments throughout the world. Furthermore, the growing number of senior patients suffering from chronic diseases, as well as the fast adoption of sedentary lifestyles, is a prominent component largely responsible for age and lifestyle-related chronic disorders. As a result, the need for robotic surgical methods for emergency care is rising.

RESTRAIN:

• Several rival robotic systems from various manufacturers compete in the robotic surgical operations industry.

• The higher acquisition and maintenance costs of robotic surgical systems will limit their use in developing countries.

The purchase and maintenance expenses of robotic surgical equipment are greater. The yearly service and maintenance cost of the surgical system, for example, runs from USD 100,100 to USD 150,200. Furthermore, various clinical studies indicate that the cost of a robotic surgical operation is around USD 3,100 to USD 6,200 greater than the cost of a similar surgery conducted using the laparoscopic approach.

OPPORTUNITY:

• Collaborative robotics, commonly known as cobots, are robotic devices that operate in tandem with surgeons. These systems can help in suturing, retraction, and instrument placement.

• Expanded surgical applications may provide a significant opportunity for this sector.

The number of surgical procedures that can benefit from robotic aid is constantly growing. While urology and gynecology have had success with robotic surgery, there are chances to investigate its uses in other specialities such as general surgery, cardiothoracic surgery, orthopedics, and neurosurgery. As surgeons acquire competence and new robotic systems are created, robotic surgery may be extended to increasingly sophisticated and difficult procedures.

CHALLENGES:

• The exorbitant prices of robotic surgical devices make their widespread implementation difficult. The initial financial outlay necessary to acquire the robotic system, as well as continuous maintenance, instrument costs, and training costs, can be substantial.

• Good skills and professional people are required to run the robotic surgical system.

Robotic surgery necessitates extensive training and expertise. To become skilled in operating robotic systems, surgeons must go through extensive training programs. The learning curve for robotic surgery can be severe, necessitating devoted time and resources. The availability of training programs and access to skilled surgeons may be limited, limiting the widespread use of robotic surgery.

IMPACT OF RUSSIA-UKRAINE WAR

Ukraine contributes 0.78% of overall healthcare items exports to the country, whereas the United States accounts for 2.6 %. In fiscal year 21, the Asian country exported medicines worth $25.5 billion USD. Asian countries shipped almost US$ 593 million in healthcare items to Russia in FY21, a nearly 6.85% increase over the previous year, while Ukraine contributed nearly US$ 182 million in FY21, a nearly 45% increase over the previous year. With rising Russia-Ukraine tensions, the Indian healthcare sector may face disruptions in total medication and intermediate exports. A weaker currency may assist export-oriented industries such as medicines. Russian bank sanctions may have an impact on remittances of outstanding trade receivables from that country. Considering all these things, one thing emerges there is a possibility of a decrease in robotic surgical procedures market demand in both countries due to Russian Ukraine war.

IMPACT OF ONGOING RECESSION

According to experts, medical device businesses are positioned to weather an economic recession even as they continue to suffer pandemic-related challenges such as ongoing supply chain issues and workforce shortages. While gadget makers are not immune to possible recessionary headwinds, an RBC Capital Markets analyst believes the industry will be rather resilient to a prolonged slump. The firm has a lot of puts and takes to consider, but there is undoubtedly a lot of opportunity given the defensive factor in healthcare and medtech. Zimmer Biomet and Stryker are more sensitive to an economic downturn since hip and knee replacement surgeries are deemed more deferrable but required at some time. According to the analyst, hospital funding may also dry up during a recession, making higher-cost technologies like robotic systems more vulnerable.

Moreover, in today's time, the awareness among the people has increased a lot, as a result of which the demand for getting life insurance has increased among the people. The impacts of the ACA might be a role in more steady procedure volumes. According to the Department of Health and Human Services, more than 36 million individuals had ACA insurance in early 2022, and 29 million were uninsured in the fourth quarter of 2021.

KEY MARKET SEGMENTATION

By Application

• Gynaecology

• Surgery

• Orthopaedics

• Urology

• Others

REGIONAL ANALYSIS

North America: North America is expected to maintain its dominance in the worldwide robotic surgical procedure market in 2023. The market in this area was valued at US $ 4150 Million in 2023, and it is expected to expand as more robotic surgical tools and systems are adopted. North American nations have a higher penetration of robots than other areas. This is anticipated to generate prospects for the industry to develop in the future years.

Asia Pacific: Asia-Pacific is expected to develop at the fastest rate due to rising demand in India, China, & Japan, as well as the expansion of the region's overall robotics market. In China, the demand for surgical robots is mostly among a wealthy subset of patients who can afford costly operations. However, the introduction of domestic models has reduced pricing, which is likely to promote deployment. With significant investments in technical breakthroughs, Asian nations, notably Japan, China, and South Korea, serve as fresh income pockets for the medical robotic systems industries.​

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REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

Key Players 

The major players in Robotic Surgical Procedures Market are Avateramedical GmbH, Smith & Nephew, Zimmer Biomet; Medtronic, THINK Surgical, Accuray Incorporated, Intuitive Surgical, CMR Surgical Ltd., Stryker, Johnson & Johnson Services, Inc., and other players.

Zimmer Biomet-Company Financial Analysis

RECENT DEVELOPMENTS

Stryker: In 2022, Stryker one of the world's most innovative medical technology businesses, has announced the establishment of Stryker's Global Technology Centre (SGTC) at the International Tech Park in Gurgaon. The 150,000-square-foot building will assist expedite innovation in India and throughout the world, as well as support the company's aim to improve healthcare.

CMR Surgical: In 2022, CMR stated that their Versius Surgical Robotic System has been used in 5,000 surgical operations throughout the world. Dr. Patrick Bagan and his colleagues successfully executed the 5,000th surgery at Argenteuil Hospital, a public health centre in Paris, France, where they performed a lung bisegmentectomy for cancer.

Accuray Incorporated: In 2021 Accuray Incorporated reported that more than two decades of clinical data from throughout the world support the use of its CyberKnife robotic radiotherapy technology for the delivery of stereotactic radiosurgery (SRS) treatments for neurological illnesses.