AI-based Surgical Robots Market Growth Analysis Till 2033 By The Business Research Company
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The AI-based surgical robots market has witnessed an unprecedented surge in recent years, propelling it from $5.73 billion in 2023 to an estimated $6.88 billion in 2024, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 20.0%. This growth is attributed to several factors, including the aging population, a rising demand for minimally invasive surgery, increased healthcare expenditure, the imperative need for patient safety, and the prevalence of chronic diseases.
Exponential Growth Anticipated
- The AI-based surgical robots market is poised for rapid expansion, projecting a staggering growth to $13.12 billion in 2028 at a CAGR of 17.5%.
- Factors fueling this growth include the adoption of telemedicine and remote surgery, increased investments, a surge in robotic surgeries, and the persistent shortage of medical professionals.
Major Trends Shaping the Future
- AI and Machine Learning Integration
- Robotics-as-a-Service (RaaS)
- Miniaturization and Portability
- Surgical Data Analytics
- Patient-Specific Surgical Planning
- Interdisciplinary Collaboration
Driving Forces Behind Market Growth
Adoption Of Technologically Advanced Robots By Surgeons
The adoption of technologically advanced robots by surgeons across various applications has been a pivotal driver for the AI-based surgical robots market. These robots, powered by AI, enhance efficiency, accuracy, and overall performance. Notably, robotic surgery accounted for 2% of surgeries in Europe and a substantial 15% in the United States in 2023, according to Oliver Wyman. This increasing reliance on advanced robots is a key factor propelling the market forward.
Major Companies Shaping the Market Landscape
Key players in the AI-based surgical robots market include Accuray Incorporated, Intuitive Surgical Inc., Medtronic PLC, and others. These companies are at the forefront of technological advancements, contributing significantly to the growth and evolution of the market.
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Innovations Driving Growth
New Product Development Advancements
The development of innovative products is a prominent trend, with major companies constantly striving to strengthen their market positions. For instance, Suzhou Kang Duo Robot Co. launched the Kang Duo Surgical Robot-01 (KD SR 01) in December 2022, showcasing the potential advantages over conventional methods, such as laparoscopic surgery.
Surgical Science’s Acquisition of Mimic Technologies
In January 2021, Surgical Science Sweden AB acquired Mimic Technologies Inc. for $18.0 million, expanding its customer base, gaining access to advanced analytics technology, and strengthening its presence in the American market. This acquisition underscores the strategic moves within the industry to foster growth and competitiveness.
Market Segmentation
The AI-based surgical robots market is segmented based on products, applications, and end-users:
- By Product:
- Services
- Instrument and Accessories
- By Application:
- Orthopedics
- Neurology
- Urology
- Gynecology
- Other Applications
- By End User:
- Hospitals
- Ambulatory Surgical Centers
Regional Dynamics
North America led the AI-based surgical robots market in 2023, with Asia-Pacific expected to be the fastest-growing region during the forecast period.
Conclusion
As the AI-based surgical robots market continues its upward trajectory, driven by technological advancements, strategic acquisitions, and an increasing number of robotic surgeries, the healthcare landscape is witnessing a transformative shift. The integration of AI and robotics is not only enhancing surgical outcomes but also paving the way for a future where precision, efficiency, and patient safety are paramount. The journey ahead promises innovations, collaborations, and breakthroughs that will redefine the way surgeries are conducted, marking a new era in healthcare.
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