The Worldwide Surgical Robots Industry is Projected to Reach $17.6 Billion by 2028

DUBLIN, Nov. 1, 2022 /PRNewswire/ -- The "Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Components, Application, and End User" report has been added to  ResearchAndMarkets.com's offering.

The global surgical robots market is projected to reach US$ 17,647.82 million by 2028 from US$ 6,839.07 million in 2021. It is expected to register a CAGR of 14.8% from 2022 to 2028.

The rising number of surgical procedures and the increase in product launches and approvals are driving the global surgical robots market. However, the high cost of surgical procedures and installations is hampering the market.

Surgical robots are utilized for minimally invasive surgery and enable precise manipulation of surgical instruments beyond human ability in a small operation space. It is a broad concept that encompasses many common procedures, such as urological procedures, orthopedic procedures, laparoscopic cholecystectomy (gall bladder excision), bariatric surgery, gynecological procedures, and others. According to the data published by the Obesity and Metabolic Surgery Society of India in 2020, the number of bariatric surgeries increased by ~86.7% in India during 2014-2018. Further, as per the study published by the American Society for Metabolic and Bariatric Surgery, ~252,000 weight loss surgeries were performed in the US in 2019.

The growing number of surgical procedures creates a need for Robotic surgery instruments. For instance, according to the 2021 National Health Statistics Reports from the Centers for Disease Control, obesity has reached 41.9% among adults and 19.7% among children and adolescents aged 2-19 years. Moreover, it has been stated that severe obesity, corresponding to a body mass index (BMI) of 40 or higher, is present in 9.2% of adults in the US.

Therefore, the relationship between obesity and the development of various well-known comorbidities, including cardiovascular diseases, diabetes, liver disease, chronic kidney disease, osteoarthritis, and cancer, makes obesity one of the top preventable causes of mortality.

Moreover, intense lifestyle modification and pharmacotherapy usually fail to achieve long-term sustained weight loss and remission of obesity-related comorbidities (10% weight loss at one year and 5.3% at 8 years). However, CDC states that bariatric surgery has been demonstrated to be effective at achieving long-term weight-loss up to 77% of excess weight loss (~77% of excess weight at one year and over ~50% at 10-20 years), remission of obesity-related comorbidities, and reducing the incidence of major cardiovascular conditions.

Surgical robots have been designed to exceed the limitations of conventional laparoscopy. The laparoscopic procedure involves a two-dimensional view displayed on a monitor, whereas Robotic surgery offers a close three-dimensional vision portrayed in the commodity of a console, which gives the surgeon a feeling of operating from inside the cavity.

For instance, Robotic systems, such as Da Vinci Xi, manufactured by Intuitive Surgical, provide an active camera, multi-quadrant access, improved precision of motion, filtered tremor, and instruments with endo wrist movements and seven degrees of freedom, powerfully enhancing the dexterity of the surgeon. Therefore, the utilization of Robotic platforms for primary and bariatric surgery is expected to rise over the forecast period. Moreover, the rise in the prevalence of chronic conditions and the rising number of surgical procedures generate the demand for surgical Robots.

Recent Developments

• In July 2022, Siemens Healthineers added CorPath GRX, the FDA-cleared and CE-marked Robotic system, to its coronary and peripheral interventions portfolio in India. Such recent developments will contribute to the Indian healthcare sector significantly. Cutting-edge technology has opened up new realms of business with advanced therapeutics by tapping adjacent growth markets with great potential for the coming years.
• In Jun 2022, Stryker announced that its Q guidance system received 510(k) approval from the US FDA. When used with Spine Guidance software, the system is an advanced intraoperative planning and guiding system designed to enable open or percutaneous computerized surgery. Spine Guidance software is the first spine navigation software to be approved by the US FDA for use in pediatric patients who are 13 years of age and older.
• In April 2022, In India, SS Innovations announced its SSI multi-arm revolutionary telerobotic assistance surgical system for US$ 0.54 million to US$ 0.68 million (INR 40-50 million).
• In February 2022, Smith + Nephew Launches Next Generation Robotic System in Japan; the CORI surgical system is designed to enhance the surgical experience for high precision and best results in knee arthroplasty.

For more information about this report visit https://www.researchandmarkets.com/r/xccwu8

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