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What Growth Opportunities are Expected to Drive the Surgical Robots Market’s CAGR Through 2034?

The market size of surgical robots has seen a swift expansion in the last couple of years. The market, which stood at $7.87 billion in 2024, is projected to climb to $9.25 billion by 2025, showcasing a compound annual growth rate (CAGR) of 17.6%. Factors such as the growing instances of chronic conditions, an escalating older population, the demand for highly accurate and precise medical procedures, enhanced healthcare expenditures, and the rise in robotic-assisted operations have driven the considerable growth over the historic period.

The market size of surgical robots is projected to experience a rapid expansion in the coming years, with it anticipated to swell to $18.05 billion in 2029, representing a compound annual growth rate (CAGR) of 18.2%. This upward trend during the forecast period is primarily due to factors such as the broadening of applicability for robotic surgery, the rising acceptance in developing markets, the growing need for remote surgery options, an increasing emphasis on customization and personalization, and advancements in regulatory approvals and standards. Key market trends predicted over the forecast period incorporate the incorporation of AI for enhanced surgical accuracy, the growth of diminished surgical robots, the emergence of telesurgery and remote surgical capabilities, the escalating deployment of robotics in non-invasive surgeries, and the use of haptic feedback technology.

What Drivers Are Shaping the Growth of the Surgical Robots Market?

The surgical robot market is anticipated to be invigorated from the rising geriatric population and escalating surgical cases. The development and application of surgical robots are significantly influenced by the growing older and surgical patient groups. Surgeries using robots, which are minimally invasive, aid in reducing patient trauma, curbing the rate of complications, and curtail the recovery timeline. These advantages are crucial in decreasing mortality and illness rates among the elderly. For example, as per the 2024 forecasts by World Health Organization (WHO), Switzerland’s Intergovernmental organization, by 2030, every 6th person worldwide is projected to be 60 years or older. The populace aged 60 or more is likely to rise from 1 billion in 2020 to 1.4 billion by 2030. This figure is predicted to reach approximately 2.1 billion by 2050. Projections from the American Joint Replacement Registry’s 2022 Annual Report, published in November 2022, showed that hip and knee arthroplasty cases in the US approximated to 2.8 million in 2022, marking a 14% increase from 2021. Hence, the amplified geriatric and surgical patient populace serve as propulsion for the surgical robot market.

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What Are the Leading Industry Players Dominating the Surgical Robots Market?

Major companies operating in the surgical robots market include Stryker Corporation, Medrobotics Corporation, Smith & Nephew plc, TransEnterix Inc., Renishaw plc, Intuitive Surgical Inc., Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Johnson & Johnson, Titan Medical Inc., Mazor Robotics Ltd., KUKA Aktiengesellschaft, Avatera Medical GmbH, Corindus Vascular Robotics Inc., MicroSure (Pty) Ltd, Asensus Surgical Inc., Siemens Healthcare GmbH, CMR Surgical Ltd., Auris Health Inc., Verb Surgical Inc., OMNIlife Science Inc., Vicarious Surgical Inc., Microbot Medical Inc., Virtual Incision Corporation, Memic Innovative Surgery Ltd., XACT Robotics Ltd., EndoMaster Pte. Ltd., MST Medical Surgery Technologies Ltd., Medtech SA

How Are Emerging Trends in Consumer Behavior Affecting the Surgical Robots Market?

Leading companies in the surgical robot industry are increasingly aiming to create innovative systems like Versius from CMR Surgical, employing distinctive features to boost robotic-assisted surgical operations. CMR Surgical, a UK-based medical device manufacturer, developed Versius®, a flexible surgical robot, intended to help surgeons perform minimally invasive surgeries in numerous specialties. In June 2023, for example, the company rolled out the Versius® Surgical Robot, emphasizing its flexibility and enhanced features with the goal of enhancing surgical results and promoting the uptake of robot-assisted surgical procedures across regional hospitals.

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What Are the Core Categories and Segments in the Surgical Robots Market Driving Demand and Growth?

The surgical robots market covered in this report is segmented –

1) By Component: Systems, Accessories, Services

2) By Surgery Type: Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Surgeries

3) By End-Users: Clinic, Hospital, Ambulatory Care Centers, Other End Users

Subsegments:

1) By Systems: Robotic Surgical Systems, Robotic Arm Systems, Tele-surgery Systems, Modular Robotic Systems

2) By Accessories: Surgical Instruments, Camera Systems, Console And Control Units, Power Supply Units

3) By Services: Installation And Training Services, Maintenance And Repair Services, Technical Support Services, Upgrades And Software Services

Which Regions Are Significant to the Growth of the Surgical Robots Market?

The countries covered in the surgical robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

How Can We Define the Surgical Robots Market and Its Key Components?

A surgical robot is an automated device that assists surgeons during surgical procedures. The robot comprises multiple arms that are fitted with surgical instruments and a camera for providing a high-resolution, three-dimensional picture of the operative site. It is used by surgeons to lessen blood loss, shorten hospital stays, and speed up patient recovery.

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