Medical Robotics And Computer Assisted Surgery Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Medical Robotics And Computer Assisted Surgery market in 2021?

The global medical robotics and computer-assisted surgery market is estimated to have a market size of USD 11.2 billion in 2021. Moreover, the market is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.5% from 2021 to 2026. The increasing adoption of minimally invasive procedures, technological advancements in robotic surgery systems, and the rising prevalence of chronic diseases are some of the key factors driving the growth of the medical robotics and computer-assisted surgery market.

COVID-19 Impact on the Medical Robotics And Computer Assisted Surgery Market

The COVID-19 pandemic has had a mixed impact on the medical robotics and computer-assisted surgery market. On one hand, the pandemic led to the postponement of elective surgeries and a reduction in hospital admissions, which impacted the demand for robotic surgery systems. However, on the other hand, the need for minimal contact between healthcare providers and patients, as well as the requirement for social distancing measures, has accelerated the adoption of robotic surgery systems. This increased adoption is expected to drive the growth of the market in the post-pandemic period.

Medical Robotics And Computer Assisted Surgery Dynamics

The medical robotics and computer-assisted surgery market is driven by factors such as the increasing prevalence of chronic diseases, the growing demand for minimally invasive procedures, and technological advancements in robotic surgery systems. Additionally, the market is witnessing a shift towards value-based healthcare, which emphasizes improved patient outcomes and reduced healthcare costs. However, the high cost of robotic surgery systems, regulatory challenges, and the lack of skilled professionals are some of the key factors restraining market growth.

Segments and Related Analysis

The medical robotics and computer-assisted surgery market can be segmented based on product type, application, and region. In terms of product type, the market is segmented into surgical robots, rehabilitation robots, non-invasive radiosurgery systems, and others. By application, the market is segmented into neurosurgery, orthopedic surgery, laparoscopy, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Region Analysis

- North America: The North American medical robotics and computer-assisted surgery market is expected to dominate the global market due to the presence of well-established healthcare infrastructure, increasing adoption of robotic surgery systems, and the rise in chronic diseases.

- Europe: The European market is also anticipated to witness significant growth in the coming years, driven by technological advancements in surgical robotics, rising geriatric population, and supportive government initiatives.

- Asia Pacific: The Asia Pacific region is projected to experience the fastest growth rate, attributed to the increasing healthcare expenditure, growing demand for minimally invasive surgeries, and rising awareness about robotic-assisted procedures.

- Latin America: The Latin American market is poised for steady growth, propelled by improving healthcare infrastructure, expanding medical tourism, and the adoption of advanced surgical technologies.

- Middle East & Africa: The MEA region is expected to witness a surge in demand for medical robotics and computer-assisted surgery, driven by the increasing prevalence of chronic diseases, rising healthcare investments, and growing awareness about the benefits of robotic-assisted procedures.

Key Market Players and Competitive Landscape

The key players in the medical robotics and computer-assisted surgery market include Intuitive Surgical, Stryker Corporation, Zimmer Biomet Holdings, Medtronic PLC, and Smith & Nephew PLC. These companies are focusing on product innovations, strategic collaborations, and acquisitions to strengthen their market presence and gain a competitive edge. The market is highly competitive, with significant investments in research and development activities to introduce advanced robotic surgery systems.

Recent happenings in the Medical Robotics And Computer Assisted Surgery Market

- In April 2021, Intuitive Surgical announced the launch of its new robotic-assisted platform, which offers enhanced precision and efficiency in surgical procedures.

- In June 2021, Medtronic PLC collaborated with a leading healthcare technology company to develop AI-driven solutions for robotic-assisted surgeries.

- In August 2021, Stryker Corporation acquired a medical robotics company specializing in spine surgery solutions, expanding its portfolio of robotic-assisted surgical systems.

- In November 2021, Zimmer Biomet Holdings introduced a next-generation robotic surgery system that enables precise and minimally invasive procedures for joint replacement surgeries.

- In January 2022, Smith & Nephew PLC launched a robotic-assisted platform for orthopedic surgeries, offering greater accuracy and improved patient outcomes.