The Surgical Robots Market is being driven by Rising adoption of surgical robots to enhance the precision of surgical procedures.
The Surgical Robots Market is expected to grow at a CAGR of 28.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18076.3 million. In the rapidly evolving healthcare landscape, surgical robotics technology is witnessing significant demand in developing countries. With a focus on enhancing patient outcomes and delivering superior quality healthcare services, these nations are increasingly turning to surgical robots as a viable solution. The scarcity of highly skilled surgeons, particularly in specialized areas, is a common challenge faced by countries like India and Brazil. Surgical robots offer a potential remedy by providing a platform for training and skill development. Equipped with simulation capabilities, these systems enable surgeons to hone their skills through practice of intricate procedures in a controlled environment, thereby improving their competence and confidence before executing surgeries on actual patients.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
194 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 28.5% |
Market growth 2025-2029 |
USD 18076.3 million |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
21.8 |
Key countries |
US, UK, Germany, China, Canada, Japan, France, Saudi Arabia, Brazil, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Surgical robots, equipped with HD cameras, are revolutionizing outpatient and ambulatory surgery at ambulatory surgery centers. Medicare covers these advanced procedures, reducing surgical errors and enhancing precision for physicians and surgeons. Robots utilize automated instruments for bone degenerative diseases like arthritis, osteoporosis, and joint surgeries for adults, including hip and knee replacements. Chronic diseases such as osteoarthritis, cancer, and cardiac conditions also benefit from surgical intervention. Robots' precision extends to soft tissues and bones, utilizing instruments and accessories for cataract surgery and orthopedic procedures.
The global life sciences tools and services market encompasses organizations involved in the research and development (R&D) of a range of product categories, including capital equipment, instruments, accessories, and consumables. These products are utilized in the pharmaceutical and biotechnology industries, as well as laboratory diagnosis of various diseases. A key driver for market growth is the increasing global population aging, with the proportion of individuals over 60 years projected to rise significantly. This demographic trend will lead to an increase in demand for healthcare services, particularly outpatient and ambulatory surgery. Surgical robots, such as those equipped with high-definition cameras, are increasingly being adopted in ambulatory surgery centers and Medicare-certified outpatient surgery facilities. The urological surgery segment and general surgery are expected to witness significant growth in this context. Surgical errors are a concern in traditional surgical procedures, and the adoption of surgical robots can help mitigate these risks, contributing to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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