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What is the Expected Growth Rate of the Surgical Robots Market from 2024 to 2033?

The market size of surgical robots has seen notable expansion in the past few years. The industry is projected to expand from $8.14 billion in 2023 to $9.71 billion in 2024, boasting a compound annual growth rate (CAGR) of 19.3%. Factors driving this growth during the preceding years include the heightened prevalence of chronic illnesses, the rise in the aging demographic, the need for precision and accuracy, greater spending on healthcare, and a proliferation of robotic-assisted procedures.

The market size of surgical robots is projected to experience substantial growth in the following years. It is forecasted to reach $20.28 billion in 2028, registering a compound annual growth rate (CAGR) of 20.2%. This growth in the projected period can be linked to the widening of robotic surgery indications, augmented uptake in developing markets, demand for solutions in remote surgery, regulatory approvals, and standards as well as trends in customization and personalization. The key trends for the forecasted period include the incorporation of artificial intelligence for surgical accuracy, the emergence of miniaturized surgical robots, telesurgery, remote surgical capabilities, increased utilization of robotics in non-invasive surgeries, and haptic feedback technology.

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What Key Factors Are Fueling the Growth of the surgical robots Market?

Rising numbers of older individuals and surgical patients are anticipated to fuel the expansion of the surgical robot market. The surge in these demographics notably influences the application and further creation of surgical robots. Minimally invasive surgeries executed by these robots contribute to lowering trauma for patients, reducing recovery duration, and lowering the likelihood of complications. These advantages are of particular importance to the aging demographic, aiding in the reduction of mortality and morbidity rates. As an example, the World Health Organization, based in Switzerland, reported in an October 2021 factsheet that by 2030, there would be around 1.4 billion people worldwide over 60 years old. In addition to that, the 2022 Annual Report of the American Joint Replacement Registry released in November 2022 indicated that the number of hip and knee arthroplasty cases in the US in 2022 rose to about 2.8 million, showing a 14% increase from 2021 numbers. Hence, the escalating number of elderly and surgical patients stimulates the growth of the surgical robot market.

What Are the Major Segments of the Surgical Robots Market?

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

What New Trends Are Transforming the Surgical Robots Market?

The emergence of technological innovation is an influential trend observed in the surgical robot market. Top-tier companies in the realm of surgical robotics are prioritizing the development of pioneering technologies in order to optimize patient results and consolidate their market standing. For example, in November 2021, Smith+Nephew, a medical equipment manufacturer from the UK, unveiled the CORI handheld robotics. This complete robotic-assisted surgical system is designed for total and partial knee arthroplasties. Equipped with a 3-D intra-operative imaging system and a robotic sculpting instrument, it aids surgeons in measuring, planning, and executing knee surgeries. With its compact size and mobility, the system can be easily transported from one operating room to another, thereby enhancing the patient throughput in surgical departments.

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Which Regions Are Driving Growth in the Surgical Robots Market?

North America was the largest region in the surgical robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global surgical robots market report forecast period. The regions covered in the surgical robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Surgical Robots Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the surgical robots market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Surgical Robots Market Include

1. Surgical Robots Market Executive Summary

2. Surgical Robots Market Segments

3. Surgical Robots Market Size And Template Market Growth Rate

4. Key Surgical Robots Market Trends

5. Major Surgical Robots Market Drivers

……

25. Key Mergers And Acquisitions In The Surgical Robots Market

26. Top Surgical Robots Companies

27. Surgical Robots Market Opportunities And Strategies

28. Surgical Robots Market, Conclusions And Recommendations

29. Appendix

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