Artificial Intelligence
The AI-Based Surgical Robots Market Is Driven By Surgeons’ Adoption Of Technologically Advanced Robots As Per The Business Research Company’s AI-Based Surgical Robots Global Market Report 2022
LONDON, Oct. 17, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the AI-based surgical robots market, the increase in the adoption of technologically advanced robots by surgeons for various applications has contributed to the growth of the AI-based surgical robots market. Robots are automated machines that can perform pre-programmed tasks. With the advancement in technology AI technology is also being used to improve, the efficiency, accuracy, and performance of robots. AI-based surgical robots are used in various surgeries and specialities such as neurology, urology, ENT, thoracic surgery, colorectal surgery, and others. According to data published in the JAMA Network, a medical journal published by American Medical Association, open surgery for prostate cancer is being replaced by robotic surgeries as they offer fewer complications and better functional outcomes. Data states that up to 86% of procedures for prostate cancer in the US in 2020, performed by robots. Therefore, the increasing adoption of technologically advanced robots by surgeons for various applications is driving the AI-based surgical robots market growth.
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The global AI–based surgical robots market size is expected to grow from $4.03 billion in 2021 to $4.70 billion in 2022 at a compound annual growth rate (CAGR) of 16.76%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The AI based surgical robots market is expected to reach $8.81 billion in 2026 at a CAGR of 16.99%.
The development of new products is a key trend gaining popularity in the AI-based surgical robots market. Major companies operating in the market are developing new products to strengthen their position in the market. For instance, Suzhou KangDuo Robot Co, a China-based medical company, launched “KangDuo Surgical Robot-01 (KD SR 01)”. The device completed robot-assisted radical pyeloplasty. These surgeries performed by the KD SR 01 required less time and have demonstrated advantages over conventional methods such as laparoscopic surgery.
Major players in the AI-based surgical robots market are Accuray Incorporated, Intuitive Surgical Inc, Medtronic plc, Medrobotics Corporation, Zimmer Biomet, Stereotaxis Inc, TransEnterix Inc, Stryker Corporation, Activ Surgical Inc, Titan Medical Inc, CMR Surgical Inc, MedTech Surgical, and Mazor Robotic.
The global AI-based surgical robots market is segmented by product into services, instrument and accessories; by application into orthopedics, neurology, urology, gynecology, others; by end user into hospitals, ambulatory surgical centres.
North America was the largest region in the AI based surgical robots market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in AI-based surgical robots industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
AI-Based Surgical Robots Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide AI-based surgical robots market forecast size and growth, AI-based surgical robots market segments and geographies, AI-based surgical robots market trends, AI-based surgical robots market drivers and restraints, AI-based surgical robots market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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