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Surgical Robots Market size was worth USD 6.3 billion in 2022 and is anticipated to exhibit 15.9% CAGR from 2023-2032. Surging prevalence of chronic diseases will push industry growth.
The rising number of surgical procedures driven by the increasing burden of several chronic diseases worldwide will anchor the demand for surgical robots. As per the CDC (Centers for Disease Control and Prevention), almost 6 in 10 adults suffer from a chronic disease in the U.S. Surgical procedures, including cardiac surgery, cataract, surgical intervention as well as orthopedic surgeries for cancer increasingly deploy robots for improved outcomes. Hence, the rising frequency of these procedures and the subsequent dominance of surgical robots will influence the industry trends.
Report Attribute | Details |
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Base Year: | 2022 |
Surgical Robots Market Size in 2022: | USD 6.3 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 15.9% |
2032 Value Projection: | USD 26.8 Billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 200 |
Tables, Charts & Figures: | 293 |
Segments covered: | Component, Application, End-use, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The escalating costs of surgical robots and their subsequently shrinking rate of adoption, mainly in the developing countries will negatively influence the product uptake to some extent. The rising charges of the components along with the higher R&D investments are other factors adding to the massively inflated costing of surgical robots. The average cost of a surgical robot is nearly USD 1.5 million, excluding the additional annual maintenance.
With respect to component, the surgical robots market from the instruments and accessories segment crossed USD 4.2 billion in 2022. Instruments and accessories are increasingly utilized in robotic procedures as these tools assist surgeons in opening the soft tissues, removing the bones, dissecting and isolating the lesion as well as obliterate the abnormal structures. The high replacement rate along with lower costs of these components will also accelerate the product demand.
Surgical robots market valuation from the general surgery segment is slated to surpass USD 7.7 billion by 2032. The increasing frequency of various general surgeries, including hernia repair, cholecystectomy, adrenalectomy, small bowel resection and rectal prolapse have led to the higher adoption of surgical robots. To that end, several major business participants are focusing on innovating robotic-assisted surgeries. Hence, the higher usage of surgical robots in general surgery will augment the industry development.
North America surgical robots market size is anticipated to reach USD 13.6 billion by 2032. This is attributed to the rising number of robotic-assisted surgeries in the region. The increasing threat of various chronic diseases and the higher healthcare expenditure have spurred the stronger sales of surgical robots. The presence of some of the leading business participants will further contribute to the regional market share.
are some of the leading market participants. Inorganic collaborative metrics, such as partnerships, mergers and acquisitions are largely implemented by these firms to boost their global presence.
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The above information is provided for the following regions and countries: