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AI-based Surgical Robots Market Size, Opportunities, Share, Growth Rate & Analysis 2024

11-14-2024 09:00 AM CET | Health & Medicine

Press release from: The Business research company

AI-based Surgical Robots Market Size

AI-based Surgical Robots Market Size

The Business Research Company recently released a comprehensive report on the Global AI-based Surgical Robots Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The ai-based surgical robots market size has grown exponentially in recent years. It will grow from $5.73 billion in 2023 to $6.88 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to aging population, demand for minimally invasive surgery, rise in healthcare expenditure, need for patient safety, increased prevalence of chronic diseases.

The ai-based surgical robots market size is expected to see rapid growth in the next few years. It will grow to $13.12 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to telemedicine and remote surgery, increasing investment, increasing number of robotic surgeries, shortage of medical professionals, . Major trends in the forecast period include ai and machine learning integration, robotics-as-a-service (raas), miniaturization and portability, surgical data analytics, patient-specific surgical planning, interdisciplinary collaboration.

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Market Drivers and Trends:

The increase in the adoption of technologically advanced robots by surgeons for various applications has contributed to the growth of the AI-based surgical robots market. Robots are automated machines that can perform pre-programmed tasks. With the advancement in technology AI technology is also being used to improve, the efficiency, accuracy, and performance of robots. AI-based surgical robots are used in various surgeries and specialties such as neurology, urology, ENT, thoracic surgery, colorectal surgery, and others. For instance, in 2023, according to Oliver Wyman, a US-based management consulting firm, robotic surgery is used in 2% of surgeries across Europe and about 15% in the US . Therefore, the increasing adoption of technologically advanced robots by surgeons for various applications is driving the growth of the AI-based surgical robot market.

The development of new products is a key trend gaining popularity in the AI-based surgical robot's market. Major companies operating in the market are developing new products to strengthen their position in the market. For Instance, in December 2022, Suzhou Kang Duo Robot Co., a China-based medical company, launched Kang Duo Surgical Robot-01 (KD SR 01). The device completed a robot-assisted radical pyeloplasty. These surgeries performed by the KD SR 01 required less time and have demonstrated advantages over conventional methods such as laparoscopic surgery.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Accuray Incorporated, Intuitive Surgical Inc., Medtronic plc, Medrobotics Corporation, Zimmer Biomet Holdings Inc., Stereotaxis Inc., Transenterix Inc., Stryker Corporation, Activ Surgical Inc., Titan Medical Inc., CMR Surgical Inc., Smith and Nephew plc, Auris Health Inc., Corindus Vascular Robotics Inc., EndoMaster Pte Ltd., Freehand 2010 Ltd., Globus Medical Inc., Hansen Medical Inc., Johnson & Johnson, Memic Innovative Surgery Ltd., Microbot Medical Inc., Neural Analytics Inc., Renishaw plc, Restoration Robotics Inc., Synaptive Medical Inc., Think Surgical Inc., XACT Robotics Ltd., Zavation Medical Products LLC, Vicarious Surgical Inc., Asensus Surgical Inc., Brainlab AG, Corin Group plc, IMRIS Inc.

AI-based Surgical Robots Market 2024 Key Insights:

• The ai-based surgical robots market size is expected to see rapid growth in the next few years. It will grow to $13.12 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%.
• Adoption Of Technologically Advanced Robots By Surgeons Drives Growth Of AI-Based Surgical Robots Market
• New Product Development Advancements In Ai-Based Surgical Robots Market
• North America was the largest region in the AI-based surgical robots' market in 2023

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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