Report : North America Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Instruments & Accessories, Robotic Systems, and Services), Application (Urological Surgery, Orthopedic Surgery, General Surgery, Gynecological Surgery, Cardiothoracic Surgery, Neurosurgery, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)
At 14.9% CAGR, the North America Surgical robots market is projected to be worth US$ 7,402.91 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America surgical robots market was valued at US$ 3,209.61 million in 2022 and is expected to reach US$ 7,402.91 million by 2028, registering an annual growth rate of 14.9% from 2022 to 2028. Surging number of surgical procedures.
There is a rise in the number of surgeries performed across the North America. In the last 25 years, the incidence of cardiovascular diseases has increased North America. The rise in diabetic cases and lifestyle changes are leading to an increase the number of cardiovascular surgeries and general surgeries. For instance, colorectal cancer is one of the most commonly found and lethal cancers developed in individuals due to the combined influence of genetic and environmental factors. The lifetime risk of developing colorectal cancer is about 1 in 23 for men and 1 in 25 for women. Further, ~95,55,027 cancer deaths were recorded in 2018, of which 8,80,792 were related to colorectal cancer. Therefore, colorectal cancer was identified as the third most common cancer and the second highest death-causing cancer. Therefore, the increasing number of colorectal cancer incidences has resulted in the surging demand for surgical Robots. Cancer and diabetes are among the leading causes of mortality across the North America. As per a study by the American Cancer Society (ACS), in 2021, ~1.9 million new cancer cases were diagnosed in the US. In 2021, according to Dutch Cancer Registry, ~123,672 new cancer cases were registered in the Netherlands. Moreover, as per an article published by Elsevier ltd in 2017, ~1-3% of the female population carry breast implants in the Netherlands. Breast surgeries are among the most common procedures in plastic surgeries performed in the country. Furthermore, according to the International Diabetes Federation (IDF), the number of people having diabetes is expected to grow from ~537 million in 2021 to 783 million by 2045. 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, the incidence of obesity has reached 41.9% among adults and 19.7% among children and adolescents aged 2-19 years old. 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. Thus, 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. The number of road accidents is increasing in several countries. According to the National Interdepartmental Road Safety Observatory (ONISR), in May 2018, 6,520 people in France were injured in road accidents. The surging number of road accidents eventually leads to the rise in the number of orthopedic procedures and treatments, which, in turn, is fueling the growth of the surgical robots market. This is expected to drive the market during the forecast period.
On the contrary, High Cost of Surgical Procedures and Installation hurdles the growth of North America surgical robots market.
- Based on component, the North America surgical robots market is categorized into instruments & accessories, robotic systems, and services. The instruments & accessories segment held 52.7% market share in 2022, amassing US$ 1,692.67 million. It is projected to garner US$ 4,055.81 million by 2028 to expand at 15.7% CAGR during 2022–2028.
- Based on application, the North America surgical robots market is categorized into urological surgery, orthopedic surgery, general surgery, gynecological surgery, cardiothoracic surgery, neurosurgery, and others. The urological surgery segment held 22.8% market share in 2022, amassing US$ 730.35 million. It is projected to garner US$ 1,758.99 million by 2028 to expand at 15.8% CAGR during 2022–2028
- Based on end user, the North America surgical robots market is categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment held 60.5% market share in 2022, amassing US$ 1,940.73 million. It is projected to garner US$ 4,409.23 million by 2028 to expand at 14.7% CAGR during 2022–2028.
- Based on country, the North America surgical robots market has been categorized into the US, Canada, and Mexico. Our regional analysis states that US captured 85.0% market share in 2022. It was assessed at US$ 2,727.14 million in 2022 and is likely to hit US$ 6,376.62 million by 2028, exhibiting a CAGR of 15.2% during the forecast period.
Key players dominating the North America surgical robots market are Intuitive Surgical; Smith+Nephew; Johnson & Johnson Services, Inc.; Stryker; THINK Surgical; Zimmer Biomet; Medtronic; Siemens Healthineers AG; Asensus Surgical, Inc.; and Renishaw plc among others.
- In May 2022, Intuitive collaborating with Creo Medical to enhance surgical Robots.
- In Jan 2022, Smith+Nephew adds total hip arthroplasty to Cori surgical Robots.
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