Robotic Surgery Services Market is estimated to be valued at USD 6,176.8 million in 2021 and is poised to grow at a significant CAGR of 17.5% over 2022-2028. Surgical robots are employed in minimally invasive operations because they allow for accurate manipulation of surgical tools in a limited operating environment. Robotic surgery, also known as robot-assisted surgery, enables healthcare professionals to execute various complicated procedures with more control, flexibility, and precision. Based on the end user, the market is segmented into hospitals and ambulatory surgical centers. Among these, the hospital segment accounts for holding the highest share in the forecasting period owing to rising healthcare costs in several economies. To increase the quality service of care and patient outcomes, hospitals are outfitted with modern surgical robots. Moreover, the market players are focusing on launching new products, collaborating, and acquiring. For instance, In November 2021 – Quirónsalud, one of the largest private hospital firms in Spain and a subsidiary of Fresenius Helios, agreed to acquire Clínica Clofán and Centro Oncológico de Antioquia (COA), strengthening the company’s position in Colombia. The growing aging population, at higher risk for prostate cancer, valvular disorders, endometriosis, and other diseases, coupled with Rising number of surgical procedures across the globe are the few factors driving the surgical robotic systems Market. Furthermore, the growing prevalence of degenerative bone diseases and the growing number of knee and hip replacement surgeries due to the rising cases of arthritis and osteoporosis are the significant factors expected to fuel the market growth.
Recent Market Developments:
In January 2021, Stryker, an American medical technology corporation, acquired OrthoSensor and its Verasense intraoperative sensor tech to enhance the ortho giant’s Mako robots.
In January 2021, The US-based TransEnterix received CE Mark approval for its Intelligent Surgical Unit that adds AI-based capabilities and enables machine vision capabilities on TransEnterix’s Senhance robotic surgery system.
January 2020, The American-based Sytrker Corporation received regulatory approval for the Mako robotic surgery system in Japan for partial knee indication.