Global Autonomous Surgical Robotics Market Outlook Report, 2023 to 2033, Featuring Beijing Baihui Weikang Technology Co, Curexo, Globus Medical, and Medtronic Among Others

DUBLIN, Dec. 21, 2023 /PRNewswire/ -- The "Autonomous Surgical Robotics Market - A Global and Regional Analysis: Focus on Product Type, Application, End User, and Country - Analysis and Forecast, 2023-2033" report has been added to  ResearchAndMarkets.com's offering.

The global autonomous surgical robotics market was valued at $1.81 billion in 2022 and is anticipated to reach $11.07 billion by 2033, witnessing a CAGR of 17.45% during the forecast period 2023-2033. This growth can be attributed to the factors that include the enhanced surgical capabilities offered by autonomous robotic-assisted surgeries, an upsurge in minimally invasive surgical procedures, technological advancements in autonomous surgical robotics, and supportive regulatory approvals for autonomous surgical robotic systems, driving competitiveness in the market.

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Market Lifecycle Stage

The market lifecycle stage of the autonomous surgical robotics market can be described as being in the early growth or introduction phase. This market segment is characterized by the emergence of innovative technologies and products that have the potential to transform the field of surgery. Autonomous surgical robots are still relatively new and are gaining attention due to their ability to improve surgical precision, reduce human error, and enhance patient outcomes. While there is growing interest and investment in this technology, the market is not yet fully mature, and there is ample room for expansion and development. As more research and development efforts pour in and as regulatory approvals are obtained, the market is expected to move into the growth phase, attracting a wider customer base and achieving more widespread adoption within the medical industry.

Industry Impact

The global autonomous surgical robotics market is having a profound impact on the healthcare industry and related sectors. Autonomous surgical robots have significantly enhanced surgical precision and reduced the likelihood of human error. This has led to improved surgical outcomes, reduced OT complications, and has led to shorter recovery times for patients. Technology has positively impacted the overall quality of healthcare services. The market for autonomous surgical robotics has driven advancements in minimally invasive surgery as well. These robots are particularly well-suited for such procedures, enabling smaller incisions, thereby leading to quick patient recovery and less trauma. This trend toward minimally invasive surgery has transformed the way many surgical procedures are performed, resulting in a more patient-friendly approach.

However, the shortage of skilled surgeons in many parts of the world is a growing concern. Autonomous surgical robots provide a viable solution by assisting surgeons, extending their capabilities, and potentially enabling remote surgery. This addresses the challenge of uneven access to surgical expertise and helps fill the gaps in underserved regions.

The global autonomous surgical robotics market is anticipated to grow at a robust pace due to the lucrative opportunities that lie within its domain, which include a massive scope for phenomenal profits through venturous investments, integrative industry-academia collaboration, the rise of advanced robotic technology, and an increase in the adoption of novel surgical applications. Some of the key trends that the market is moving toward include the rising technological innovations, such as next-generation robotic systems in the market.

Market Segmentation

Segmentation 1: by Product Type

• Robotic Systems
• Consumables
• Services

Robotic Systems to Dominate the Global Autonomous Surgical Robotics Market (by Product Type)

Based on product type, the robotics systems segment dominated the global autonomous surgical robotics market in FY2022. These advanced systems are gaining prominence due to their pivotal role in enhancing surgical procedures. With the ability to provide surgeons with precise control and dexterity, robotics systems have become a preferred choice in the autonomous surgical robotics market. Their capacity to minimize human error and improve patient outcomes makes them a vital component in the field of minimally invasive surgery. As the demand for more efficient and accurate surgical solutions continues to grow, robotics systems are expected to maintain their dominance, driving the market's evolution and expansion in the foreseeable future.

Segmentation 2: by Application

• Urology Surgery
• Orthopedic Surgery
• Cardiology Surgery
• Head and Neck (including Neurology) Surgery
• Other Surgeries

Orthopedic Surgery to Dominate the Global Autonomous Surgical Robotics Market (by Application)

Based on application, orthopedic surgery dominated the global autonomous surgical robotics market in FY2022. This surgical field has emerged as a frontrunner in harnessing the benefits of autonomous surgical robotics. The precision, accuracy, and consistent performance of robotic systems have proven to be especially valuable in orthopedic procedures such as joint replacements and spine surgery. Surgeons are increasingly relying on these technologies to improve patient outcomes and reduce the invasiveness of surgeries. As the aging population grows and the demand for orthopedic interventions rises, the dominance of autonomous surgical robotics in orthopedic surgery is expected to persist and contribute significantly to the overall growth of the market.

Segmentation 3: by End User

• Hospitals
• Ambulatory Surgery Centers (ASCs)
• Others

Hospitals to Dominate the Global Autonomous Surgical Robotics Market (by End User)

Based on end user, the hospitals segment dominated the global autonomous surgical robotics market in FY2022. These sophisticated surgical robotic systems are finding their primary home within hospital settings. Hospitals are at the forefront of adopting this technology due to its potential to improve patient care and surgical outcomes. The controlled environment, well-trained medical staff, and infrastructure in hospitals make them ideal places for the integration of autonomous surgical robotics. As the demand for advanced surgical techniques continues to rise, hospitals are expected to maintain their dominant position as key users of autonomous surgical robotics, ultimately driving the market's growth and evolution.

Segmentation 4: by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World

Regions such as North America and Europe have technologically advanced healthcare systems and allocate considerable budgets to the healthcare segment, due to which these regions hold the maximum share in the global autonomous surgical robotics market. Regions such as Asia-Pacific, Latin America, and Rest-of-the-World are anticipated to register significant growth during the forecast period 2023-2033 owing to factors such as rising preference for minimally invasive surgeries, rising geriatric population, and increasing demand to streamline surgical workflows.

Moreover, Asia-Pacific is expected to register the highest CAGR of 18.87% during the forecast period 2023-2033. The Asia-Pacific region is an emerging market due to the rise in per capita income and rapid advancements in autonomous robotic surgical platforms. The Asia-Pacific region includes countries such as Japan, China, and India. Among these countries, China acquired the dominant market share, followed by Japan and India. Several companies have their presence in Asia-Pacific, such as Stryker Corporation, Zimmer Biomet Holdings, Inc., and Medtronic plc. The growth of the Asia-Pacific autonomous surgical robotics market is expected to be strongly driven by the increase in disposable income per household.

Recent Developments in the Global Autonomous Surgical Robotics Market

• In September 2023, PROCEPT BioRobotics Corporation received Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA). This approval would enable the company to investigate the safety and effectiveness of Aquablation therapy for the treatment of prostate cancer.
• In May 2023, Robocath, Inc. launched its latest robotic platform, the R-One+, which could perform coronary angioplasties.
• In October 2022, XACT Robotics Ltd. announced that its ACE Xtend Remote Control Unit received the U.S. Food and Drug Administration (FDA) clearance, allowing users to robotically insert and steer the XACT ACE Robotic System remotely from the control room.
• In August 2022, THINK Surgical, Inc., an innovator in the field of orthopedic surgical robots, announced its entry into a development and distribution agreement with Curexo, Inc., a medical robotics specialist company based in South Korea. THINK and Curexo have a strong working relationship based on historical development collaboration, and Curexo distributes THINK's TSolution One platform in Korea and Vietnam.
• In May 2022, XACT Robotics received FDA clearance that would expand support for ablation procedures.
• In January 2022, Zimmer Biomet Holdings, Inc. partnered with American Hospital Dubai to provide advanced robotic-assisted training for orthopedic surgeons from the U.A.E. and the region.

Demand - Drivers, Restraints, and Opportunities

Market Demand Drivers:

Enhanced Surgical Capabilities Offered by Autonomous Robotic-Assisted Surgeries: Enhanced surgical capabilities are a driving force behind the autonomous surgical robotics market. These capabilities empower robotic systems to perform a wider range of surgical procedures, both complex and delicate, which makes them increasingly valuable in the medical field. One of the primary ways that enhanced surgical capabilities drive the market is by enabling a more extensive range of surgical procedures. Furthermore, there is an increased adoption of robotic-assisted surgeries owing to the several advantages over conventional as well as laparoscopic surgeries.

Market Restraints:

High Cost of Investment in Autonomous Robotic Surgical Systems: One of the major challenges in the autonomous surgical robotics market is the high capital cost of robotic systems, their associated instruments, and maintenance services. Currently, autonomous surgical robotics systems have a very high initial cost, requiring an arrangement for considerable capital investment from independent private surgeons and hospitals. All autonomous surgical robotic system manufacturers face several cost-associated challenges in convincing end users to purchase a robotic system.

Market Opportunities:

Preference of Telerobotic-Based Surgeries to Overcome Lack of Skilled Professional Surgeons: The preference for Telerobotic-based surgeries is emerging as a powerful opportunity for the autonomous surgical robotics market, particularly in overcoming the challenge of a shortage of skilled professional surgeons. The preference for telerobotic-based surgeries is fundamentally rooted in the shortage of skilled professional surgeons in many parts of the world. As populations grow and age, the demand for surgical interventions increases, and the supply of experienced surgeons often falls short.

Key Market Players and Competition Synopsis

Autonomous surgical robotics is a cutting-edge field that combines artificial intelligence (AI), robotics, and medical technology to enable precise and automated surgical procedures. These systems have the potential to revolutionize the healthcare landscape by enhancing surgical accuracy, reducing human error, and enabling minimally invasive surgeries. The global market for autonomous surgical robotics is on a trajectory of witnessing substantial growth, driven by the increasing adoption of minimally invasive surgeries, technological advancements with respect to surgical equipment, and the need for enhanced surgical capabilities.

The healthcare system is adopting advanced technologies, especially in the field of surgical medicine, to improve surgical workflow patterns and derive quality and accurate clinical outcomes. The use of an autonomous surgical robotic system offers a safer surgical procedure by making it more accurate and minimally invasive for patients.

Some of the prominent companies in this market are:

• Beijing Baihui Weikang Technology Co. Ltd.
• Curexo, Inc.
• Globus Medical, Inc.
• Medtronic plc
• PROCEPT BioRobotics Corporation
• Renishaw plc
• Robocath, Inc.
• Stryker Corporation
• Surgical Automations, Inc.
• Veebot Systems, Inc.
• Venus Concept Inc.
• Zimmer Biomet Holdings, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wpcpup

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