DUBLIN--(BUSINESS WIRE)--The "Global AI-based Surgical Robots Market Size, Share & Trends Analysis Report by Product (Services, Instruments And Accessories), by Application (Orthopedics, Neurology, Urology, Gynecology), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global AI-based surgical robots market size is expected to reach USD 17.2 billion by 2028 and is expected to expand at a CAGR of 17.2% from 2021 to 2028.
Increased efficiency and success rate provided by robotic surgeries are boosting the growth of the market. In addition, the shift in preference for minimally invasive surgeries by patients over traditional methods is further bolstering the growth.
In 2020, services dominated the market with a share of 52.0%. It is attributed to the comprehensive contracts of services provided by key players to the customers and higher maintenance and routine servicing costs associated with the surgical robots. In addition, the technologically advanced algorithms provided by the companies in these products and their upgrades further add to the services segment, thereby increasing its revenue share.
In 2020, based on application, the other segment accounted for the highest revenue share in the market. The others segment comprises applications such as general surgeries, laparoscopies, and oncological interventions or procedures. The growing number of robotic interventional and assisted surgical procedures and the increasing prevalence of conditions such as breast cancer are some of the major factors responsible for higher revenue share.
Moreover, the COVID-19 pandemic has significantly impacted the market owing to the postponement of elective surgical procedures by various healthcare institutions across the globe. It can be witnessed by the decline in revenue generated by key players in 2020 compared to 2019 further signifies the de-growth of the market due to the pandemic.
The presence of benefits of Robot-assisted Surgeries (RAS), such as a reduction in the interaction time between the medical staff and patients for these procedures, is likely to boost market growth post-pandemic.
AI-based Surgical Robots Market Report Highlights
- The market is anticipated to witness significant growth by 2028, owing to the increased efficiency and success rate provided by robotic surgical interventions
- The services segment dominated the market in 2020 due to comprehensive contracts of services provided by the key players to the customers and higher maintenance and routine servicing costs associated with the surgical robots
- The others segment dominated the market in 2020, owing to the growing number of robot-assisted general surgeries and laparoscopies, along with the increasing prevalence of conditions such as breast cancer
- North America dominated the market with a revenue share of 46.9% in 2020, owing to various factors covering ongoing developments in the robotics sector and artificial intelligence, the presence of key players, and a rising number of technological advancements concerning surgical robots in the region
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
Chapter 3 Global AI-based Surgical Robots Market Variables, Trends, & Scope
3.1 Penetration and Growth Prospect Mapping
3.2 Market Dynamics
3.2.1 Market Driver Analysis
3.2.2 Market Restraint Analysis
3.2.3 Industry Challenges
3.3 Global AI-based Surgical Robots Market Analysis Tools
3.3.1 Industry Analysis - Porter's
3.3.2 PESTEL Analysis
3.3.3 Major Deals & Strategic Alliances Analysis
3.4 COVID-19 Impact on the market
Chapter 4 AI-based Surgical Robots Market: Product Estimates & Trend Analysis
4.1 Definitions & Scope
4.2 Market: Product Market Share Analysis, 2020 and 2028
4.3.1 Market estimates and forecasts, 2016 - 2028 (USD Million)
4.3.2 Instruments and Accessories
Chapter 5 AI-based Surgical Robots Market: Application Estimates & Trend Analysis
5.1 Definitions & Scope
5.2 Market: Application Market Share Analysis, 2020 and 2028
Chapter 6 AI-based Surgical Robots Market: Regional Estimates & Trend Analysis, By Product and Application
6.1 Market: Regional Movement Analysis
Chapter 7 AI-based Surgical Robots Market: Competitive Analysis
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3 Company Market Position Analysis
7.4 Company Market Share Analysis
7.5 List of Key Emerging Companies
Chapter 8 Company Profiles
8.1 Company Overview
8.2 Financial Performance
8.3 Product Benchmarking
8.4 Strategic Initiatives
- Accuray Incorporated
- Intuitive Surgical, Inc.
- Medtronic, plc
- Medrobotics Corporation
- Zimmer Biomet
- Stereotaxis, Inc
- Transenterix, Inc (Asensus Inc)
- Stryker Corporation
- Activ Surgical, Inc.
- Titan Medical, Inc.
- CMR Surgical, Inc.
- Smith & Nephew
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