April 4, 2020
AI-based Surgical Robots Market

AI-based Surgical Robots Market is estimated to grow with a CAGR of 20.7% during the forecast period from 2019 to 2027

The latest market report published by Credence Research, Inc., the global market for AI-based surgical robots was valued at US$ 6,237.3 million in 2018 and is expected to reach US$ 33,244.4 million by 2027, increasing to CAGR by 20.7 percent from 2019 to 2027.

Market Insights

Over the last 30 years, artificial intelligence has been used to develop surgical robots to perform critical surgical procedures with the utmost precision, dexterity and visualization. It generally provides a highly magnified three-dimensional view of the surgical procedure, dexterously translating the surgeons, the finger, the hands and the wrist movements into highly automated and precise movements of miniature surgical devices in the patient’s body.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/ai-based-surgical-robots-market

Services dominate the product segment of the market for AI-based surgical robots. Inherent features, such as maintenance costs associated with surgical robot system algorithms and routine improvements, increase demand for services. Instrument & accessories are gaining momentum and will grow at a rapid pace in the near future due to the increasing demand for robotic aided minimal invasive surgical procedures among patients worldwide and the widespread use of surgeons to perform surgery across disciplines.

General surgery is the leading application segment for the market for AI-based surgical robots. Significant increase in abdominal surgery, especially minimally invasive laparoscopic surgery, increases the worldwide demand for general surgeons. Rising prevalence of breast cancer further enhances the demand for robotic aided surgery to remove malignant tumors with minimal damage to other soft tissues. Gynecology Surgical procedures received considerable attention after approval by the USFDA in 2005 to perform critical surgery related to hysterectomy, myomectomy, sacrocolpopexy, etc., with maximum patient safety and compliance.

North America represents 45% market share and is the leading regional segment in AI-based surgical robots market. Chief contributing factors related to its market dominance are effective collaboration between healthcare agencies and robotic designing software companies. As per the research citing of Intuitive Surgical, Inc., approximately 1.75 million robotic surgical procedures have been performed in the United States in the last 14 years. Rising public health awareness pertaining to the benefits associated with robot assisted surgery will further bolster the market growth in the region. Europe is the second largest regional market holding a share of 30% owing to the strategic collaboration among academic research institute and government funded hospitals to develop machine learning programs related to AI-based surgical robots. Asia Pacific holds 15% market share on account of huge patient base suffering with critical illness requiring surgical intervention and proactive government policies to develop healthcare institutes well equipped with surgical robots.

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Companies developing AI-based surgical robots are Accuray Incorporated, Hansen Medical, Intuitive Surgical, Inc., MAKO, Mazor Robotics, Medrobotics Corporation, Medtech Surgical, Stereotaxis, Inc., TransEnterix and Titan Medical, Inc.

Key Market Movements:

  • Significant rise in global mortality rate associated with chronic disease
  • Increasing public health awareness regarding benefits of robot assisted minimal invasive surgical procedure
  • Technological advancement in the development of algorithm performing surgical simulations and decision making capacity of surgeons

Report Scope by Segments

By Product Type

  • Services
  • Instrument & Accessories

By Application Type

  • General Surgery
  • Urology
  • Orthopedic
  • Gynecology
  • Others

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/59716

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