AI-based Surgical Robots Market Growth, Size, Trends, Demand, Revenue and Future Outlook
AI-based Surgical Robots Market Size- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: MEDE2408 | Pages: 1 - 223 | Formats*: |
| Category : Medical Devices | |||
AI-based Surgical Robots Market Introduction and Overview
According to SPER Market Research, the Global AI-based Surgical Robots Market is estimated to reach USD 39.91 billion by 2033 with a CAGR of 18.81%.
The report includes an in-depth analysis of the Global AI-based Surgical Robots Market, including market size and trends, product mix, applications, and supplier analysis. Surgical robotics is using artificial intelligence. Manufacturers recognise that automation requires deep learning data instead of behaviour coded by an engineer who may not be familiar with every circumstance. The data for this deep machine learning was gathered by observing surgeons in action. AI can identify patterns in surgical procedures to enhance best practices and raise the submillimetre precision of a surgical robot's control thanks to this data and sophisticated algorithms. Real-time identification of unexpected or missing phases in surgical operations, such as sleeve gastrectomy procedures, is facilitated by laparoscopic video analysis.
- July 2022; In order to support educational institutions regarding innovative robotic surgery programmes, Medtronic plc announced the installation of the Hugo robotic-assisted surgery (RAS) system.
- June 2021; AI-based medical solutions like RSIP Vision enhanced surgical procedures and decreased reliance on human judgement.
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Market Opportunities and Challenges
The use of AI-assisted surgical robots is expected to increase in the upcoming years as they assist surgeons with voice recognition, problem-solving, and decision-making. The use of AI-based surgical robots is anticipated to increase in response to the growing concern about the global scarcity of medical personnel, which will fuel market expansion. Moreover, a growing tendency towards performing medical treatments utilising technology-based methods rather than traditional methods will propel market expansion.
Two of the biggest obstacles are the high expense of robotic surgery systems and the dearth of general technical knowledge needed to operate such sophisticated equipment. The intricate nature of the robots presents significant obstacles for upkeep and fixes. Furthermore, developers and healthcare providers need to tackle the issues of guaranteeing data privacy and cybersecurity in AI integrations.
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Market Competitive Landscape
Technological advancements in medical procedures and the increasing need for automated AI-based surgical robots push equipment producers to develop new products and seize global market share. In order to increase their product portfolio and market share, significant rivals are also engaged in industrial consolidation activities like partnerships, acquisitions, and mergers. For example, the Mako robotic-arm aided surgery system for hip replacements was introduced by Stryker Corporation. The major players in the Global AI-based Surgical Robots Market include: Accuray Incorporated, Activ Surgical, Inc., CMR Surgical, Inc., Intuitive Surgical, Inc., Medrobotics Corporation, Medtronic, plc, Smith and Nephew, Stereotaxis, Inc., Stryker Corporation, Titan Medical, Inc. and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Accuray Incorporated, Activ Surgical, Inc., CMR Surgical, Inc., Intuitive Surgical, Inc., Medrobotics Corporation, Medtronic, plc, Smith and Nephew, Stereotaxis, Inc., Stryker Corporation, Titan Medical, Inc. and others. |
COVID-19 Impact on Global AI-based Surgical Robots Market
Due to the global lockdown enforced by the COVID epidemic, the market for AI-based surgical robots has experienced growing challenges. Across the globe, elective procedures were postponed or cancelled in order to lower the rate of infection spread and give the treatment of Covid patients priority. Healthcare facilities' purchases of new products decreased as a result of this. On the other hand, a move towards robotic surgery is evident when constraining regulations are lifted. Robots in surgery are expected to become more common as they shorten surgical times, lower patient infections, and require less communication between patients and medical personnel.
Key Target Audience
- Hospitals and Healthcare Facilities
- Surgeons and Medical Professionals
- Medical Device Manufacturers
- Research Institutions and Universities
- Government Healthcare Agencies
- Investors and Venture Capitalists
- Healthcare Insurance Providers
- Medical Associations and Societies
- Healthcare Technology Consultants and Integrators
Our in-depth analysis of the AI-based Surgical Robots Market includes the following segments:
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| By Application: |
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Key Topics Covered in the Report
- Global AI-based Surgical Robots Market Size (FY’2024-FY’2033)
- Overview of Global AI-based Surgical Robots Market
- Segmentation of Global AI-based Surgical Robots Market By Type (Instruments & Accessories, Services)
- Segmentation of Global AI-based Surgical Robots Market By Application (Gynaecology, Neurology, Orthopaedics, Urology)
- Statistical Snap of Global AI-based Surgical Robots Market
- Expansion Analysis of Global AI-based Surgical Robots Market
- Problems and Obstacles in Global AI-based Surgical Robots Market
- Competitive Landscape in the Global AI-based Surgical Robots Market
- Impact of COVID-19 and Demonetization on Global AI-based Surgical Robots Market
- Details on Current Investment in Global AI-based Surgical Robots Market
- Competitive Analysis of Global AI-based Surgical Robots Market
- Prominent Players in the Global AI-based Surgical Robots Market
- SWOT Analysis of Global AI-based Surgical Robots Market
- Global AI-based Surgical Robots Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global AI-based Surgical Robots Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global AI-based Surgical Robots Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global AI-based Surgical Robots Market
7. Global AI-based Surgical Robots Market, By Type (USD Million)
7.1. Global AI-based Surgical Robots Market Value Share and Forecast, By Type, 2024-20337.2. Instruments & Accessories7.3. Services
8. Global AI-based Surgical Robots Market, By Application (USD Million)
8.1. Global AI-based Surgical Robots Market Value Share and Forecast, By Distribution Channel, 2024-20338.2. Gynaecology8.3. Neurology8.4. Orthopaedics8.5. Urology
9. Global AI-based Surgical Robots Market Forecast, 2020-2033 (USD Million)
9.1. Global AI-based Surgical Robots Market Size and Market Share
10. Global AI-based Surgical Robots Market, By Type 2020-2033 (USD Million)
10.1. Global AI-based Surgical Robots Market Size and Market Share By Type (2020-2026)10.2. Global AI-based Surgical Robots Market Size and Market Share By Type (2027-2033)
11. Global AI-based Surgical Robots Market, By Application, 2020-2033 (USD Million)
11.1. Global AI-based Surgical Robots Market Size and Market Share By Application (2020-2026)11.2. Global AI-based Surgical Robots Market Size and Market Share By Application (2027-2033)
12. Global AI-based Surgical Robots Market, By Region, 2020-2033 (USD Million)
12.1. Global AI-based Surgical Robots Market Size and Market Share By Region (2020-2026)12.2. Global AI-based Surgical Robots Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific
12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada12.6.2. Mexico12.6.3. United States
12.7. Latin America
12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. Accuray Incorporated
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Activ Surgical, Inc.
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. CMR Surgical, Inc.
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. Intuitive Surgical, Inc.
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. Medrobotics Corporation
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. Medtronic, plc
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. Smith and Nephew
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. Stereotaxis, Inc.
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. Stryker Corporation
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Titan Medical, Inc.
13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
AI-based Surgical Robots Market is projected to reach USD 39.91 billion by 2033, growing at a CAGR of 18.81% during the forecast period.
AI-based Surgical Robots Market grew in Market size from 2022. The Market is expected to reach USD 39.91 billion by 2033, at a CAGR of 18.81% during the forecast period.
AI-based Surgical Robots Market CAGR of 18.81% during the forecast period.
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AI-based Surgical Robots Market size is USD 39.91 billion from 2023 to 2033.
AI-based Surgical Robots Market Segment is covered By Type, By Application.
The North America is anticipated to have the highest Market share in the AI-based Surgical Robots Market.
The key players in the Market include Companies Covered Accuray Incorporated, Activ Surgical, Inc., CMR Surgical, Inc., Intuitive Surgical, Inc., Medrobotics Corporation, Medtronic, plc, Smith and Nephew, Stereotaxis, Inc., Stryker Corporation, Titan Medical, Inc. and others.
Surgical robotics is using artificial intelligence. Manufacturers recognise that automation requires deep learning data instead of behaviour coded by an engineer who may not be familiar with every circumstance.
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