Global surgical robotics market projected to reach $28.54 billion by 2031, driven by increase in surgical procedures and chronic diseases
From GlobeNewswire: 2024-11-26 06:16:00
The global surgical robotics market is experiencing significant growth due to an increase in surgical procedures and the prevalence of chronic diseases. The market analysis focuses on various products, providing insights for stakeholders to navigate the evolving landscape successfully.
Surgical robotics market value is projected to reach US$ 28.54 billion by 2031, with a CAGR of 13.7% from 2023 to 2031. The rise in surgical procedures, especially for joint replacements, hysterectomies, and hernia repairs, is driving market growth. Surgical robots enhance precision, reduce complications, and improve patient outcomes.
The prevalence of chronic diseases, such as colorectal cancer and obesity, is increasing worldwide, leading to a higher demand for surgical robots. Surgical robotics offer improved ergonomics and precision for complex surgeries, making them a preferred option for conditions like colorectal cancer and obesity. The market is also driven by advancements in technology and the integration of AI and machine learning.
North America led the surgical robotics market in 2023, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period. Key players in the market include STERIS, Stryker, Medtronic, and Johnson & Johnson, with trends focusing on telemedicine, complex surgeries, training, and AI integration.
The growth of the surgical robotics market is attributed to the demand for minimally invasive procedures, driven by advancements in technology and precision. Major players dominate the industry, while new entrants introduce innovative robotic systems. The rise of remote surgeries and training platforms further fuels market growth, making robotic surgery more common and accessible.
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