AI-based Surgical Robots Market Size, Share & Trends Analysis Report By Product (Services, Instruments And Accessories), By Application (Orthopedics, Neurology, Urology, Gynecology)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global AI-based Surgical Robots market gathered revenue around USD 5.8 Billion in 2020 and market is set to grow USD 16.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 15.20% during the prediction period 2021 to 2027.

AI-based Surgical Robots Market Size 2020 to 2027

Growth Factors:

Robotic surgeries are gaining traction due to the increased efficiency and success rate provided by these surgeries, along with the “minimally invasive” nature of the surgeries. It has increased the penetration of advanced technologies such as artificial intelligence in the field of robotic surgeries, thereby boosting the market growth. Expanding usage of AI technologies in surgical systems is owing to its advantages that range from the consolidation of databases to intraoperative video analysis this, in turn, is supporting the adoption of AI-based surgical robots.

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 52.3%. 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.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the AI-based Surgical Robots market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global AI-based Surgical Robots market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 16.9 Billion by 2027
Growth Rate CAGR of 15.20% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Product, application And Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned  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 and Nephew.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

AI-based Surgical Robots market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis;

In 2020, North America dominated the AI-based surgical robots market and accounted for the largest revenue share of 46.0%. The region held the largest revenue share owing to the presence of major players, increasing opportunities for start-ups to enter the market and ongoing developments in the field of artificial intelligence and robotics for healthcare. In addition, increasing demand for minimally invasive procedures and robot-assisted surgeries is fueling the market growth.

However, in Asia Pacific, the market for AI-based surgical robots is expected to exhibit significant growth potential over the forecast period. The introduction of technologically advanced equipment in surgical procedures and interventional procedures in the regional segment coupled with the increasing number of patients opting for robotic surgery is expected to propel the market growth during the forecast period. In addition, increasing investments by major players in the Asia Pacific region is further anticipated to boost the growth.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the AI-based Surgical Robots Market include:  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 and Nephew

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

  • By Product
    • Services
    • Instruments and Accessories
  • By Application 
    • Orthopedics
    • Neurology
    • Urology
    • Gynecology
    • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the AI-based Surgical Robots market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the AI-based Surgical Robots market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the AI-based Surgical Robots markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in AI-based Surgical Robots market Study:

  • Growth of AI-based Surgical Robots in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for AI-based Surgical Robots and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  AI-based Surgical Robots Consumption Analysis
  •  AI-based Surgical Robots Production Analysis
  •  AI-based Surgical Robots and Management

Report Detail

  • Report Code:5913
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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