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  • Published In : Apr 2024
  • Code : CMI496
  • Pages :172
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Market Size and Trends

The surgical robots market is estimated to be valued at USD 7,268.9 Mn in 2024 and is expected to reach USD 17,863.4 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.

Surgical Robots Market Key Factors

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Surgical robots offer several advantages over traditional open surgeries such as smaller incisions, fewer complications, less pain and blood loss, quicker recovery time and improved surgical outcomes. Their rising uptake in various procedures like gynecology, urology, orthopedic and neurosurgeries will support adoption. Similarly, increasing healthcare expenditure in developing nations creates new opportunities.

Market Driver – Increasing Inorganic Growth Strategies such as Collaborations

Increasing adoption of inorganic growth strategies, such as collaboration, among key market players is expected to drive the market growth over the forecast period. For instance, on February 14, 2024, THINK Surgical, Inc., an innovator in the field of orthopedic surgical robots, announced that it will enter into a new collaboration agreement with b-ONE Ortho Corporation, an original equipment manufacturer (OEM) as well a developer & marketer. Through this collaboration, THINK Surgical will add b-ONE Ortho implants, including the MOBIO Total Knee System, to THINK Surgical's ID-HUB, a proprietary data bank of implant modules for use with its TMINI Miniature Robotic System.

/p>Increasing Complexity and Accuracy Requirements of Surgical Procedures

Advancements in medical science and technology have allowed doctors to perform increasingly complex surgeries to treat conditions that were previously considered inoperable or untreatable. Procedures such as deep brain stimulation for neurological disorders, minimally invasive surgery to repair heart valves, organ transplantation, and cancer surgeries often require tremendous precision, control and endurance from surgeons. Even a slight error can potentially jeopardize the outcome or the patient's life. At the same time, patients are demanding minimally invasive options to reduce post-surgical recovery time and complications. This has created the need for surgical systems that can augment a surgeon’s abilities and facilitate procedures with enhanced dexterity, accuracy, and precision even in small and constrained anatomical spaces. Robotic systems address this need through their scaled motion, tremor filtering, and three-dimensional visualizations. The instruments have wrist-like movements allowing surgeons to operate in areas not accessible by open surgery and suture tissues with greater precision. Some robots provide ten-fold magnifications of the surgical area on high-definition screens, integrate pre-operative scans, and allow surgeons to practice interventions through simulations. This enhances spatial understanding and procedural planning. The growing preference for minimally invasive approaches also drives the demand as robotic systems enable procedures through small incisions instead of open surgeries. 

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