AI-based Surgical Robots Market Growth & Trends
The global AI-based surgical robots market size is expected to reach USD 25.2 billion by 2030, registering a CAGR of 18.5% during the forecast period, according to a new report published by Grand View Research, Inc. Robot-assisted surgery allows physicians to perform several types of complex surgical procedures with more flexibility, fewer risks, and with a faster recovery time. In addition, the incorporation of Artificial intelligence (AI) in robotic surgeries has revolutionized the automated medical devices industry.
The increased success rate and high efficiency of AI-based surgical robots are anticipated to fuel their adoption all around the world. Furthermore, the shift in preference towards automated minimally invasive procedures over conventional methods of surgeries by patients is further boosting the market growth.
Based on type, the instruments and accessories segment dominated the market, with a revenue share of around 51% in 2021. This growth can be attributed to the growing adoption of AI-based surgical robots & their accessories and the increasing number of next-generation modern hospitals. In addition, an increase in surgical robot product development activities by manufacturers is also anticipated to drive the segment in the coming years. Moreover, increasing preference for minimally invasive AI-based robotic surgeries is further anticipated to propel segment growth.
Based on application, the others segment dominated the market in terms of revenue share in 2021. The segment includes general surgeries, oncological & laparoscopies interventions, and procedures. The growing prevalence of cancer, heart diseases, and other chronic disorders further increases the adoption of AI-based surgical robots, which, in turn, is likely to drive segment growth. The increase in robot-assisted procedures such as cutting away cancer tissue, coronary artery bypass, kidney removal, and transplants are also expected to fuel segment growth in the coming years.
North America accounted for a high revenue share of around 44% in 2021. This growth can be attributed to improved modern healthcare infrastructure, rapid developments in AI-based robotic surgeries, and an increase in healthcare expenditure. In addition, the presence of leading players and continuous innovations in robotic equipment is also expected to boost the market growth in this region.
Moreover, growing awareness and adoption of automated medical devices for surgical procedures is further supporting the high revenue share for this region. Furthermore, the COVID-19 pandemic had a negative impact on the market in 2020, owing to the reduced number of surgical procedures and postponement of elective surgeries. In addition, disruption of the supply chain, continuous lockdowns, and shutdowns also hampered new product developmental activities in 2020. However, the growing preference for automated robotic surgeries and minimally invasive procedures is likely to accelerate market growth during the post-pandemic period.
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AI-based Surgical Robots Market Report
AI-based Surgical Robots Market Report Highlights
- The global market growth can be attributed to the increased success rate and high efficiency of AI-based surgical robots
- The instruments and accessories segment dominated the market in 2021, which can be attributed to increasing surgical robot product development activities by manufacturers and rising adoption of the devices
- The others segment dominated the market with a revenue share of over 35% in 2021, owing to increasing robot-assisted general surgeries and laparoscopies, along with the rising prevalence of conditions such as breast cancer
- North America dominated the market with a high revenue share in 2021, owing to improved modern healthcare infrastructure, rapid developments in AI-based robotic surgeries, and an increase in healthcare expenditure in the region, among others
