Robotic-assisted Surgery Systems Market Revenues to Reach USD 15.75 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Robotic-assisted Surgery Systems Market Report (2023-2028),” the market is estimated at USD 8.37 billion in 2023. It is expected to register a CAGR of 13.48% during the forecast period.The benefits of robotic-assisted surgery and the growing research studies employing robotic-assisted surgeries are expected to propel the market growth. Being an AI-powered robotic technology, it may pave the way for the automation of similar interventional surgeries that could shorten the procedure time and reduce complications. Moreover, the cumulative cases of chronic diseases and rising preference for minimally invasive surgeries are also contributing to the growth of the robotic-assisted surgery systems market. Thus, the increasing adoption of MIS procedures worldwide, owing to the less pain of open surgery, is driving the growth of the studied market.
* **Report Summary:*
*Report Attribute* *Details*
Market Size (2023) USD 8.37 billion
Market Size (2028) USD 15.75 billion
CAGR (2023-2028) 13.48%
Fastest Growing Market North America
Largest Market Asia-Pacific
Study Period 2018-2028
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers The cumulative cases of chronic diseases.
The rising preference for minimally invasive surgeries.
*Who are the Top Companies in the Robotic-assisted Surgery Systems Market?*
The global robotic-assisted surgery systems market is fragmented in nature, owing to the presence of several international and local market players.
The noteworthy players holding the global robotic-assisted surgery systems market are:
· Intuitive Surgical Inc.
· Stryker Corporation
· Johnson & Johnson Inc.
· SRI International Inc.
· Accuray Incorporated
· Renishaw PLC
· Medtronic PLC
· Smith & Nephew PLC
· Brainlab
· Globus Medical
· Zimmer Biomet
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*Key Highlights from the **Robotic-assisted Surgery Systems Market **Report**:*
*Surgical Robot Segment is Expected to Hold a Significant Market Share*
· The soaring burden of cancer and cardiovascular diseases globally is expected to propel the demand for surgical robots for performing surgeries with accuracy and precision. According to the American Cancer Society’s Cancer Statistics 2023, 1.9 million new cancer cases are predicted to be diagnosed in the United States in 2023.
· Employing surgical robots and robot-controlled tools, surgeons can perform surgery in a way that is much less invasive than open surgery, in this manner propelling the market growth. Numerous hospitals and other institutions are enthusiastically adopting these surgical robots to enhance their surgical procedures.
*North America to Dominate the Market *
· North America is expected to hold significant growth during the robotic-assisted surgery systems market throughout the forecast period owing to the high burden of chronic diseases, technological advancements in robotic-assisted surgery systems, and launches by market players.
· The high burden of chronic diseases in the region drives the demand for robotic-assisted surgeries, which is expected to propel the market growth. For instance, according to 2022 statistics published by American Heart Association, the prevalence rate of heart failure in the United States was 6 million, which is 1.8% of the total population, in 2021.
*What are the Latest Developments in the Robotic-assisted Surgery Systems Market?** *
· In November 2022, MedTech start-up SS Innovations bought Avra Medical Robotics, a US-based company, to expand its surgical robot devices to the global market.
· In November 2022, Accelus received USFDA approval for its Remi Robotic Navigation System software update that presents robotic-assisted pedicle screw placement for surgeons performing lumbar spine fixation.
*Mordor Intelligence has Segmented the* *Robotic-assisted Surgery Systems Market **Based on Product Type, Application, End-user, and Geography: *
· By Product Type
· System
· Surgical Robot
· Navigation System
· Consumable and Accessories
· · Software and Services
· By Application
· Gynecological Surgery
· Cardiovascular
· Neurosurgery
· Orthopedic Surgery
· Laparoscopy
· Urology
· Other Applications
· By End-user
· Hospitals
· Ambulatory Surgery Centers
· Other End Users
· By Geography
· North America
· United States
· Canada
· Mexico
· Europe
· United Kingdom
· Germany
· France
· Italy
· Spain
· Rest of Europe
· Asia-Pacific
· China
· India
· Japan
· Australia
· South Korea
· Rest of Asia-Pacific
· South America
· Brazil
· Argentina
· Rest of South America
· Middle East & Africa
· South Africa
· GCC
· Rest of Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Robotic-assisted Surgery Systems Market Report (2023-2028).
*Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:*
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· Retinal Surgery Devices Market Report - The retinal surgery devices market is expected to register a CAGR of 7.9% during the forecast period.
*About Mordor Intelligence:*
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
*Attachment*
· Robotic-assisted Surgery Systems Market - Mordor Intelligence
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