AI-based Surgical Robots Market

The global AI-based Surgical Robots Market is valued at USD 6.1 Billion in 2022 and is projected to reach a value of USD 23.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 18.6% between 2023 and 2030.

Premium Insights

According to National Health Council, about half of all adults have a chronic condition, and approximately 8 percent of children ages 5 to 17 were reported by their parents to have limited activities due to at least one chronic disease or disability. In addition, the Chronic Disease Organization stated that nearly 60% of adult Americans have at least one chronic disease. Chronic conditions like diabetes, cancer, and cardiovascular disease are the leading causes of death in the United States. Thus, the increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, has led to a higher demand for surgical procedures. AI-based Surgical Robots can assist surgeons in performing complex procedures, making them more efficient and reducing the risk of complications. Furthermore, according to NIH, in 2017, 9.8 million major inpatient operating room procedures were analyzed, of which 11.1% were MIS, and 2.5% were robotic-assisted, compared with 9.6 million inpatient operating room procedures (11.2% MIS and 2.9% robotic-assisted) in 2018. There is a growing trend towards minimally invasive surgeries due to their benefits, such as smaller incisions, reduced blood loss, faster recovery time, and minimal scarring.

AI-based Surgical Robots enable surgeons to perform these surgeries with greater precision and control. Moreover, HIMSS endorses a total investment of about $36.7 billion over ten years to modernize State, Territorial, Local, and Tribal (STLT) public health infrastructure to ensure readiness for ongoing and emerging public health emergencies. The $36.7 billion figure includes $25.6 billion for immediate STLT public health data infrastructure and $11 billion for public health interoperability and sustainability, according to the Public Health Information and Technology Infrastructure Modernization Funding Report. This increasing investment in healthcare infrastructure provides an opportunity for the growth of the AI-based Surgical Robots market as healthcare facilities seek to improve their surgical capabilities and patient outcomes.

Key Highlights

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• North America accounted for the largest growth, with a revenue share of 48.5% in 2022.
• The Asia Pacific region is expected to dominate the market during the forecast period.
• Based on Type, the Instruments & Accessories segment accounted for the largest market growth and contributed more than 54.9% of the total revenue share in 2022.
• Based on Application, the Laparoscopy segment revealed the most significant market growth and contributed more than 36.8% of the total revenue share in 2022.

Economic Insights

The pandemic has disrupted global supply chains, leading to delays in producing and delivering AI-based Surgical Robots. The lockdown measures and travel restrictions implemented by various countries have affected the manufacturing and distribution of these robots, leading to supply chain disruptions. This has resulted in challenges for companies operating in this market to meet the growing product demand. Companies are exploring alternative manufacturing and distribution strategies to mitigate the supply chain disruptions faced by the AI-based Surgical Robots market. They are also adopting technologies like remote monitoring and troubleshooting to ensure smooth operation and maintenance of the robotic systems. Additionally, partnerships and collaborations among different stakeholders in the supply chain are being established to enhance efficiency and resilience.

Top Market Trends

1. Rising geriatric population: The aging population is increasing globally, leading to an increase in chronic illnesses and conditions requiring surgical intervention. AI-based Surgical Robots are used to perform complex surgeries on older patients with precision and accuracy, reducing complication rates and improving patient outcomes. This is expected to drive the growth of the market.
2. Increasing investments in healthcare: Governments worldwide are investing heavily in healthcare to improve patient outcomes. These investments are being used to fund research and development of new medical technologies, including AI-based Surgical Robots. As a result, the market for AI-based Surgical Robots is expected to grow significantly.
3. Advancements in technology: Advancements in medical technology have enabled the development of AI-based Surgical Robots with advanced capabilities. Sensors, cameras, and other modern characteristics enable these robots to execute difficult surgeries precisely and reliably. As these technologies continue to improve, adopting AI-based Surgical Robots is expected to grow, driving the market's growth.

Market Segmentation

The global AI-based Surgical Robots market can be categorized as Type, Application, and Region. The market can be categorized into services, instruments & accessories based on Type. The market can be split by Application between laparoscopy, orthopedics, neurology, urology, gynecology, and others. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Type

Instruments & Accessories to Lead Maximum Market Share Due to the Growing Number of Robotic Procedures

In 2022, instruments & accessories dominated the market. The growing number of robotic procedures and the increasing acceptance of AI-based robots by surgeons and patients worldwide further boost the category. Furthermore, advancements in accessories and robotic equipment integrated with AI to meet the needs of healthcare providers support industry growth.

Based on Application

Laparoscopy to Express Dominion Owing to the Growing Geriatric Population

The laparoscopy segment accounted for the maximum growth of the market in 2022. The growing geriatric population has also contributed to developing AI-based Surgical Robots in laparoscopy. Older patients tend to have more complex medical conditions requiring advanced surgical procedures. Using AI-based Surgical Robots in laparoscopy allows for more precise and accurate surgical procedures, which can result in better outcomes for older patients.

Based on Region

North America to Dominate Global Sales Owing to the Increasing Acceptance of Contemporary Medical Technologies

In 2022, North America had the most significant revenue share. This revenue share has been attributed to the increasing acceptance of contemporary medical technologies and the existing medical infrastructure. The growing presence of important players in the United States and continued AI-based robotic devices drive expansion. Furthermore, the increasing use of minimally invasive surgical procedures and AI-enabled robot-assisted operations is expected to drive market expansion in North America.

During the projection period, Asia Pacific is expected to grow fastest. This increase can be linked to the rise in patients with chronic conditions and more excellent knowledge of the benefits of using minimally invasive automated robotic medical devices. Furthermore, the regional expansion of key manufacturers in the Asia Pacific area is projected to fuel growth.

Competitive Landscape

Medical procedure technological breakthroughs and growing demand for automated AI-based Surgical Robots drive manufacturers to innovate new equipment and gain a grip on the worldwide market. Furthermore, important competitors are working on industrial consolidation activities such as mergers, acquisitions, and partnerships to expand their product portfolio and market share. For instance, Stryker Corporation launched the Mako robotic-arm-assisted surgery system for hip replacements.

The key players in the global AI-based Surgical Robots market include - Accuray Incorporated (U.S.), Intuitive Surgical Inc. (U.S.), Medtronic PLC (Ireland), Medrobotics Corp. (U.S.), Zimmer Biomet (U.S.), Stereotaxis Inc. (U.S.), Transenterix Inc. (U.S.), Stryker Corporation (U.S.), Activ Surgical Inc. (U.S.), Titan Medical Inc. (Canada), CMR Surgical Inc. (UK), Smith & Nephew (UK) among others.

Recent Market Developments

• May 2023: Medtronic Private Limited and AIIMS New Delhi announced the opening of a state-of-the-art surgical robotics training center at AIIMS, New Delhi.
• October 2022: Medtronic plc announced three significant global market-entrance and indication expansion approvals for its Hugo™ robotic-assisted surgery (RAS) system.
• May 2022: Zimmer Biomet Holdings, Inc. introduced the availability of new artificial intelligence¹ (AI) capabilities within Omni™ Suite, an intelligent operating room (OR) designed to optimize surgical workflow and procedural efficiency by automating manual tasks and streamlining unnecessary technology and redundant hardware.

Segmentation of the Global AI-based Surgical Robots Market