Surgical Robotics Market Trends in 2022
In the past few decades, medical robotics has undergone significant transformation and has been widely applied in the surgical field. The rising need for minimally invasive surgery and an increasing number of complex surgical procedures that require great precision are driving the growth of the global surgical robots market. Currently, around 8.5 surgical robots are available per 1 million people, while in Europe, there is only one surgical robot per 1 million people. With the rise in the geriatric population, chronic case incidences, and increasing R&D initiatives, the demand for surgical robots is anticipated to expand even further. The global surgical market is expected to reach USD13 billion by 2025, registering a CAGR of approx. 15.46% during the forecast period. Based on end-user, the general surgery segment is anticipated to hold the largest share (25.19%) of the global surgical robots market by 2025, owing to the strong acceptance of da Vinci Surgical systems globally. However, rapid adoption of robotic-assisted total knee replacement procedures is expected to contribute towards orthopaedic robots.
Here are the key trends dominating the global surgical robots market.
Increasing Collaborations in the Global Robotic Industry
As the robotics industry is growing at a tremendous pace, many M&A
activities are taking place in this sector, driven by necessity and
opportunity. In 2021, Stryker Corporation, global musculoskeletal care, and
sensor technology leader, purchased OrthoSensor to enhance Mako surgical robots
and their data analytics capabilities. Vicarious Surgical also collaborated
with D8 Holdings Corp. to create technology that increases surgical procedures'
efficiency and improves patient outcomes. In 2020, Medtronic acquired Digital
Surgery, a London-based maker of data analytics to augment its work in robotic
surgery. Market players are focused on improving technologies and introducing
new product portfolio to accommodate the evolving demands of patients.
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Rising Demand for Robotic Surgeries
According to WHO statistics, the geriatric population is expected to reach 1.5
billion by 2050. Aged people are more vulnerable to rheumatoid arthritis and
bone injury, which is likely to create a greater need for knee and hip
replacement surgeries. This, in turn, is expected to fuel the growth of the
global surgical robots market in the coming years. Besides, the rising number
of road accidents and the increasing prevalence of chronic disorders are
boosting the need for surgical robots across medical institutions. Surgeons are
well-trained to operate surgical robots and perform less invasive procedures
with a high precision level, enhancing the success rate of medical
procedures.
New Product Developments
An increasing number of R&D initiatives and the strong presence of
multinational competitors have led to ongoing robotic innovations. Top players
are investing in research and development activities to reduce costs and
accelerate the clinical adoption of new surgery techniques. Besides, the
miniaturization of instruments and the launch of cost-effective and advanced
surgical robots are driving the growth of the global surgical robots market. In
2021, SS Innovations launched its SSI multi-arm novel telerobotic assistance
surgical system enabling surgeons to treat patients experiencing stroke or
aneurysms remotely. In 2022, Medtronic launched the Hugo robotic-assisted
surgery (RAS) system designed for a broad range of soft-tissue
procedures.
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