Robot-Assisted Surgery Market Size, Share & Trends Analysis Report, By Application (Orthopedics, Neurology, Urology, Gynecology), By Product Type (System, Consumable and Accessories, and Software and Services), by End User (Hospitals, Ambulatory Surgery Centers, and Other End Users) and by region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Robot-Assisted Surgery Market size is USD 94481.05 million in 2021 and is projected to reach a CAGR of 16.69% from 2023-2030.
The term "robotic-assisted surgery" refers to the process of carrying out operative procedures with the assistance of robotic technology. Telemanipulators, which rely on a surgeon's actions to direct the "effector" on the opposite side, typically make use of robotic-assisted systems. For minimally invasive, remotely controlled procedures, a robotic system ensures precision.
The market is being driven primarily by the growing use of automated surgical instruments and the worldwide shortage of doctors and surgeons. The market's expansion is also being aided by rising investments made by regional and international players in the introduction of cutting-edge surgical robots. In addition, the primary drivers of market expansion are anticipated to be the rising incidence of bone degenerative diseases and the rising number of hip and knee replacement procedures as a result of rising cases of arthritis and osteoporosis. Over 4,50,000 hip replacements are performed annually in the United States, according to a report from the Agency for Healthcare Research and Quality. The Australian Institute of Health and Welfare (AIHW) reports that the total knee replacement rate for osteoarthritis has increased by 38% between 2005-2006 and 2017-2018.
The increasing prevalence of chronic diseases, the rising preference for minimally invasive treatments, and the entry of new market players are the primary drivers of the market's expansion. Worldwide, cardiovascular diseases account for the majority of deaths and are the most common. Ischemic heart disease accounts for nearly 16% of global deaths, according to the World Health Organization's 2020 updates. The number of cardiopulmonary surgeries and coronary artery bypass grafting (CABG) surgeries is also rising due to the rising prevalence of cardiovascular diseases.
The adoption of automated medical instruments is also increasing, which is expected to further propel the market over the next few years. Technological advancements in the field of automated medical instruments include the combination of cameras, high-definition 3D imaging, computing technology, sensors, remote navigation technology systems, robotic controlled catheters, and other accessories used for medical surgeries.
Because initial surgical procedures had to be postponed or delayed, the rising number of COVID-19 cases has had a significant impact on the robotic-assisted surgery market worldwide. In addition, a January 2021 article titled "Impact of the COVID-19 pandemic on oncological and functional robotic-assisted surgical procedures" states that the COVID-19 pandemic resulted in a reduction of 49% in oncological procedures and a reduction of 60% in robotic surgical procedures. Since the gas environment could facilitate viral dissemination, robotic-assisted surgery's safety was also uncertain. Consequently, taking into account all of the COVID-19 and post-COVID-19 effects, the studied market is anticipated to experience steady growth over the forecast period.
Because surgical robots allow for precise manipulation of surgical instruments in a small operating room, these robots are utilized in minimally invasive procedures. The use of robots, also referred to as robot-assisted surgery, enables medical professionals to carry out a variety of intricate procedures with greater control, adaptability, and precision. Mechanical arms and camera arms with surgical instruments attached are two common clinical robotic surgical systems. During the forecast period, the demand for surgical robots or robot-assisted surgeries is anticipated to rise as a result of increased adoption of medical robotic systems as a result of technological advancements in systems like more efficient motors, compact and light materials, power back-up, sophisticated controls, safety mechanisms, and cost-effectiveness. Additionally, the global surgical robots market is likely to be driven by an increase in the number of surgeries performed worldwide and the use of robotic surgery for routine procedures.
Asia Pacific to Dominate the Market