The Surgical Robotics and Navigation Market is expected to reach USD 4.5 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.90% from 2022 to 2028. Surgical navigation is an ingrained technology and has become the standard of care, especially neuro-surgery. Robotic surgery is a surgical process where surgeons use the computer to control small instruments attached to a robot. It is also known as computer-guided minimally invasive surgery. Factors such as higher efficiency and the rise in demand for minimally invasive surgeries are propelling the growth of the Surgical Robotics and Navigation Market in the coming years.
- The spinal surgical navigation type segment incorporated the substantial growth of the Surgical Robotics and Navigation Market, owing to the increase in spine-related disorders and also due to better precision & accuracy obtained in the surgery.
- The hospital end-user segment accounted for the steady growth of the market in 2021. This is mainly due to the fact that most of the surgeries are performed in hospitals and surgeons adapting to the robot-assisted method for performing surgeries.
- The COVID-19 outbreak has affected various industries worldwide. The Surgical Robotics and Navigation Market has no exception. According to the Society of European Association for Endoscopic Surgery (EAES) & American Gastrointestinal and Endoscopic Surgeons (SAGES), navigation and surgical robotics might account for a minimal fall in the market growth.
The major players involved in the development of the Surgical Robotics and Navigation Market are Medtronic , Stryker, GENERAL ELECTRIC COMPANY, Brainlab, B. Braun Melsungen AG, Johnson & Johnson Services, KARL STORZ SE & Co. KG, Zimmer Biomet, Fiagon AG Medical Technologies, XION GmbH, Collin SAS, Medrobotics Corporation, Titan Medical Inc., Verb Surgical Inc,.
Capturing high interest in untapped economies and the adoption of advanced technological systems have played vital roles. Thus, it impels the Surgical Robotics and Navigation Market growth. Many key players started providing findings to deliver the advanced Robotic System to hospitals. For instance, CMR Surgical Limited, a British medical technology company, has raised £195 million ($240 million) to fully fund the global commercialization of the business and support the global commercial scale-up of the business to deliver the Versius® surgical robotic system to hospitals around the world. Therefore, it is responsible for augmenting the growth of the Surgical Robotics and Navigation Market in the coming years.
North America accounted for the largest share of the Surgical Robotics and Navigation Market in 2021. Factors such as the rising number of hospitals, adopting robot-assisted surgeries, government initiatives for robotic inventions, and increasing per capita income are propelling the growth of the Surgical Robotics and Navigation Market in this region.