December 9, 2023

Robotic Surgery Systems Market Trends: An In-Depth Analysis and Growth Forecast 2030

Surgical robotics is rapidly revolutionizing the field of medical technology, offering a plethora of advantages that are reshaping patient treatment. One of the standout benefits of robotic surgery is the accelerated patient recovery it provides, as it is a minimally invasive form of surgery. This not only enhances patient outcomes but also enables hospitals to conduct a higher volume of surgeries, significantly reducing waiting times compared to traditional open surgeries. In addition to faster recovery, other notable benefits include a lower probability of complications, increased surgeon confidence, and the potential expansion of minimally invasive surgery to address new medical conditions.

According to a report from Medtech Insight (Informa Pharma Intelligence), the global robotic surgery systems market is on track to reach a staggering US$9.7 billion by 2023. This projection comes on the heels of industry giants such as Medtronic, Johnson & Johnson, and Zimmer Biomet launching their own robotic platforms in 2020, signaling a major shakeup in the market.

Historically, global market leader Intuitive Surgical has maintained an 80% market share, fortified by an extensive intellectual property portfolio, including more than 2,400 patents and over 1,800 patent applications as of 2016. In 2019 alone, the da Vinci surgical system, developed by Intuitive Surgical, was used in 1.2 million total procedures, underlining its widespread adoption.

The driving forces behind the growth of the robotic surgery systems market are the increasing integration of automation in medical practices and the rising complexity of surgical procedures. Recent advancements in medical technology, such as 3D imaging, high-definition microscopic cameras, motion sensors, and robotic-controlled catheters, have expanded the possibilities for new surgical applications and disruptive technologies, fueling market expansion. The growing preference for minimally invasive surgeries is also contributing to the robust market growth.

Noteworthy FDA approvals in recent years have highlighted changing market dynamics, with new players exploring various configurations and approaches to robotic-assisted surgery. TransEnterix, for instance, received FDA clearance for its Senhance Surgical Robotic System in 2017, which is employed in gynecologic, colorectal, hernia repair, and cholecystectomy procedures. Israel-based XACT Robotics secured a CE mark in 2018, allowing it to market its robotic navigation steering system in Europe.

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However, it’s worth noting that the capital and operational costs of surgical robots, along with the associated technology infrastructure requirements, have been barriers to mass-market penetration. These systems face stiff competition from other cost-effective minimally invasive approaches like laparoscopy, which offer similar clinical outcomes.

While mechanical failures during surgery are exceedingly rare, occurring in less than 1% of cases, they do present a potential risk associated with robotic-assisted surgeries. This concern may contribute to patient hesitation in opting for such procedures.

Geographically, North America emerged as the leader in revenue generation in 2019 and is projected to maintain its dominance in the global robotic surgery systems market throughout the forecast period. The United States, home to major industry players including Intuitive Surgical, is poised to lead in the number of robotically assisted surgeries. Meanwhile, the European and Asia Pacific markets are anticipated to experience significant double-digit growth due to the increasing adoption of robot-assisted surgeries.

The global robotic surgery systems market has historically exhibited an oligopolistic nature, with Intuitive Surgical reigning supreme. However, a recent trend of collaboration between robotic companies and third-party vendors on technology platforms to develop new surgical applications is challenging this status quo.

Prominent players in the market include Intuitive Surgical, Accuray Inc., AVRA Surgical Robotics, Inc, Corindus Vascular Robotics, Elekta Company, FreeHand 2010 Ltd, Hansen Medical, Inc., Hyundai Heavy Industries, Stryker, Mazor Robotics, Ltd., Medrobotics Corporation, Medtronic, Renishaw, Restoration Robotics, Think Surgical, Titan Medical Inc., TransEnterix, Varian Medical Systems, Virtual Incision Corporation, and Immersion Corporation.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad