In terms of revenue, the Global AI-based Surgical Robots Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 18.6% from 2023 to 2030.
AI-based Surgical Robots are healthcare robots enabling doctors and surgeons to perform surgeries more precisely, accurately, and safely. These robots are intended to execute various surgical procedures with great precision while minimizing human errors. The AI-based Surgical Robots market has been increasing in recent years, which is expected to continue in the coming years. The surge in demand for minimally invasive surgery (MIS) treatments, rising chronic illness rates, and the expanding use of robotic-assisted surgery are the primary drivers of this increase. The COVID-19 pandemic has also played a role in driving this market's growth, as hospitals rely more on surgical robots to reduce the risk of exposure to the virus.
North America is accounted to have the market’s potential growth in 2022. This growth can be attributed to several factors, including the increasing adoption of robotic-assisted surgical procedures, technological advancements in AI and robotics, and the growing demand for minimally invasive surgeries. North America, particularly the United States, is at the forefront of AI-based surgical robotics research and development. The region is home to several major players in the industry, including Intuitive Surgical, Medtronic, and Stryker. These companies continuously invest in R&D to develop advanced AI-based Surgical Robots and expand their market presence.
Key Highlights from the Report
- Based on Type, the Instruments & Accessories segment dominates the AI-based Surgical Robots market in 2022 owing to the increased development of AI-based surgical robotic equipment by leading players.
- Based on Application, the Neurology segment is expected to be the fastest-growing category in the market during the forecast period (2023 –2030). This growth is accounted for owing to the high efficiency and increasing success rate of AI surgical robots used for neurological procedures compared with conventional methods.
- Based on region, North America holds the significant market share within the AI-based Surgical Robots market and will continue to dominate during the forecast period owing to the increase in adoption of new medical technologies and the establishment of healthcare infrastructure.
Several factors contribute to the growth of the AI-based Surgical Robots market. One of the main drivers is the increasing demand for minimally invasive surgical procedures. Minimally invasive surgeries are less invasive than open surgeries, meaning patients suffer less pain, have shorter hospital stays, and recover much faster. This trend has increased the demand for surgical robots, enabling surgeons to perform minimally invasive procedures with greater precision and control.
Another factor contributing to the market's growth is the increasing prevalence of chronic conditions such as cancer, cardiovascular disease, and neurological disorders. These diseases often require surgical intervention, and surgical robots are becoming the preferred tool for many surgeons because of their accuracy, precision, and ability to perform complex procedures.
Furthermore, the AI-based Surgical Robots market represents a significant opportunity for medical device companies and healthcare providers. By partnering with the right technology providers and investing in the latest technologies, healthcare organizations can improve patient outcomes, reduce costs, and keep up with the continuously changing world of surgical robotics.
The Global AI-based Surgical Robots Market is Segmented as follows
- Instruments & Accessories
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global AI-based Surgical Robots Market is
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)
The Global AI-based Surgical Robots Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|