The global AI-based Surgical Robots market accrued earnings worth approximately 4.5 (USD Billion) in 2019 and is predicted to gain revenue of about 9.8 (USD Billion) by 2026, is set to record a CAGR of nearly 18.3% over the period from 2020 to 2026. The report offers assessment and analysis of the AI-based Surgical Robots market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
AI-based Surgical Robots Market: Overview
Medical robots are known for major roles they play in surgeries, specifically for precisely handling surgical devices through over small incisions for varied kinds of surgical procedures. Citing an instance, Da Vinci robot, approved for use by U.S. FDA in 2000 have been utilized for performing more than six million surgeries globally till date. Furthermore, surging use of AI systems in surgeries due to its massive applications in healthcare sector will create new growth avenues for AI-based surgical robots industry. In addition to this, lucrative benefits offered by AI-based surgical robots has enhanced its popularity in medical sector in recent years.
Furthermore, first surgical robots referred as Arthrobot utilized voice commands for assisting patients during orthopaedic surgeries. Integration of robot with medical activities acts as a shielding layer between healthcare employee and patient by offering facility of physical separation. Additionally, it prevents pathogen contamination along with maintaining surgical volumes. All these aspects will make use of AI-based robots in surgeries more prevalent over the coming years.
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AI-based Surgical Robots Market: Growth Factors
The utilization of AI and robots during preoperative, postoperative, and intraoperative conditions can help in reducing infection in patients while supporting patient management in surgical environments at time of huge patient influx. This, in turn, will drive AI-based surgical robots market trends. In addition to this, outbreak of COVID pandemic has forced healthcare professionals to go for contactless surgeries, thereby enlarging the scope & use of AI-based surgical robots in healthcare sector. Apart from this, AI-based robotic tools require less staff in operation theatre as compared to conventional kind of surgery. In addition to this, factors such as risk of infection in patients & doctors and limited availability of ICU beds & equipment due to COVID pandemic has generated massive need for AI-based surgical robots as they can perform surgeries in less time along with reducing infections in patients.
Moreover, need for performing minimally invasive surgeries more proficiently has assisted AI-based surgical robots market to witness geometric growth. Growing use of AI in domain of robotic surgeries has opened new growth dimensions for AI-based surgical robots market in the recent years.
Regional Landscape
North America To Make Notable Contributions Towards Overall Market Size By 2026
The growth of AI-based surgical robots industry in North America over forecast period is subject to large-scale presence of reputed market players in countries such as Canada and the U.S. In addition to this, start-ups have started entering the regional market and hence it will create tough competition, thereby bringing product innovations. This, in turn, will promulgate growth of AI-based surgical robots industry in North America. Apparently, rise in minimally invasive surgical procedures will propel AI-based surgical robots market size in the sub-continent over the upcoming years.
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Competitive Landscape
Key players profiled in report include:
- Activ Surgical, Inc.
- Accuray Inc.
- CMR Surgical, Inc.
- Zimmer Biomet
- Medtronic, plc
- Intuitive Surgical, Inc.
- Medrobotics Corporation
- Stryker Corporation
- Titan Medical, Inc.
- Smith and Nephew
The global AI-based Surgical Robots Market is segmented as follows:
By Application
- Orthopedics
- Gynecology
- Urology
- Neurology
By Product
- Services
- Instruments & Accessories
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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