Europe Surgical Robotics Market: Extensive Outlook
Integration of AI influences the progress of the surgical robotics market.
SURGICAL ROBOTICS MARKET SCOPE
According to Triton’s research, the Europe surgical robotics market is set to witness revenue growth at 9.31% CAGR over the forecast years 2024-2032. Germany gained the highest market share, with $733.39 million in 2023.
The segments of the surgical robotics market include application, type, vertical, and country outlook.
Launched by the EU in 2021 as part of the Horizon 2020 Research and Innovation program, Robotics4EU addresses the rising importance of robotics in the economy. The initiative seeks to promote wider integration of AI-driven robots throughout the EU, with specific attention to sectors like healthcare. The expanding utilization of surgical robots boosts the market growth in European countries.
The key entities in the studied market are Zimmer Biomet Holdings Inc, Intuitive Surgical, Medtronic Plc, Stryker Corporation, and Stereotaxis Inc.
SURGICAL ROBOTICS MARKET CURRENT PERFORMANCE: COUNTRY ANALYSIS
Countries like the United Kingdom, Germany, France, Italy, Spain, and the Rest of Europe are studied extensively.
Progress of the Surgical Robotics Market in Italy
Italy has the highest proportion of elderly individuals in Europe, with 24% of its population aged over 65 years. The private healthcare expenditure in the country amounts to €41 billion annually. These numbers indicate the need for surgeries and treatments for age-related ailments escalates, adding to the workload of healthcare practitioners. Thus, the adoption of surgical robots emerges as a favorable solution to elevate the standard of care for older adults in the country.
Expansion of the United Kingdom’s Surgical Robotics Market
In 2022, the UK recorded 1.8 million robotic-assisted surgeries, showing a positive trend towards the adoption of advanced robotic systems. Similarly, ongoing innovations play a pivotal role in reshaping healthcare delivery by integrating AI, machine learning algorithms, and cutting-edge sensors, which revolutionize conventional surgical methods. These technologies enable precision and real-time feedback, leading to enhanced patient outcomes.
What’s new in the Surgical Robotics Market?
The competitive growth among businesses helps us dive into recent developments by the major players in the surgical robots industry. The latest strategic initiatives are discussed below:
Successful Implementation: Stryker Corporation (May 2024)
Stryker Corporation, a prominent player in medical technology, declared the milestone achievement of conducting the inaugural surgeries utilizing the Infinity Total Ankle System integrated with Adaptis and Everlast technology in Europe.
- 1. Europe Surgical Robotics Market - Summary
- 2. Industry Outlook
- 2.1. Technology Snapshot
- 2.2. Parent Market Analysis: Medical And Surgical Robotics Market
- 2.3. Impact Analysis On The Surgical Robotics Market
- 2.3.1. Covid-19 Impact On The Surgical Robotics Market
- 2.4. Porter’s Five Forces Analysis
- 2.4.1. Threat Of New Entrants
- 2.4.2. Threat Of Substitutes
- 2.4.3. Bargaining Power Of Buyers
- 2.4.4. Bargaining Power Of Suppliers
- 2.4.5. Threat Of Competitive Rivalry
- 2.5. Key Buying Impact Analysis
- 2.5.1. Technology
- 2.5.2. Cost
- 2.5.3. Safety
- 2.6. Key Market Strategies
- 2.6.1. Collaborations
- 2.6.2. Product Launches
- 2.6.3. Acquisitions
- 2.6.4. Business Expansions
- 2.7. Market Drivers
- 2.7.1. Rise In The Geriatric Population And Increasing Number Of Surgeries
- 2.7.2. Incorporation Of Artificial Intelligence (Ai) And Machine Learning (Ml) In Robotic Surgery Systems
- 2.7.3. Surge In Adoption Of Robotics In The Healthcare Industry
- 2.8. Market Challenges
- 2.8.1. Risks In Robotic Surgery
- 2.8.2. Significant Installation Costs
- 2.8.3. Shortage Of Skilled Workforce
- 2.9. Market Opportunities
- 2.9.1. Growing Applications Of Artificial Intelligence
- 2.9.2. Integration Of Big Data In Surgical Robotics
- 2.9.3. Enhanced Accuracy With Miniature Robots
- 2.10. Analyst Perspective
- 2.10.1. Benefits Of Automated Microsurgery
- 2.10.2. Advancements In Minimally Invasive Surgeries
- 2.10.3. Surge In Demand For Robotic Telesurgery
- 3. Europe Surgical Robotics Market – By Type
- 3.1. Robotic Systems
- 3.2. Instruments & Accessories
- 3.3. Services
- 4. Europe Surgical Robotics Market – By Application
- 4.1. Gynecological Surgery
- 4.2. Urological Surgery
- 4.3. Neurosurgery
- 4.4. Orthopedic Surgery
- 4.5. General Surgery
- 4.6. Other Applications
- 5. Europe Surgical Robotics Market – By Vertical
- 5.1. Hospitals
- 5.2. Ambulatory Surgery Centers
- 5.3. Other Verticals
- 6. Europe Surgical Robotics Market – By Country Outlook
- 6.1. Europe
- 6.1.1. Country Analysis
- 6.1.1.1. United Kingdom
- 6.1.1.1.1. United Kingdom Surgical Robotics Market Forecast & Prospects
- 6.1.1.2. Germany
- 6.1.1.2.1. Germany Surgical Robotics Market Forecast & Prospects
- 6.1.1.3. France
- 6.1.1.3.1. France Surgical Robotics Market Forecast & Prospects
- 6.1.1.4. Italy
- 6.1.1.4.1. Italy Surgical Robotics Market Forecast & Prospects
- 6.1.1.5. Spain
- 6.1.1.5.1. Spain Surgical Robotics Market Forecast & Prospects
- 6.1.1.6. Rest Of Europe
- 6.1.1.6.1. Rest Of Europe Surgical Robotics Market Forecast & Prospects
- 7. Competitive Landscape
- 7.1. Accuracy Incorporated
- 7.1.1. Overview
- 7.1.2. Portfolio
- 7.1.3. Key Strengths
- 7.1.4. Key Challenges
- 7.2. Cmr Surgical Ltd
- 7.2.1. Overview
- 7.2.2. Portfolio
- 7.2.3. Key Strengths
- 7.2.4. Key Challenges
- 7.3. Ethicon
- 7.3.1. Overview
- 7.3.2. Portfolio
- 7.3.3. Key Strengths
- 7.3.4. Key Challenges
- 7.4. Globus Medical
- 7.4.1. Overview
- 7.4.2. Portfolio
- 7.4.3. Key Strengths
- 7.4.4. Key Challenges
- 7.5. Intuitive Surgical
- 7.5.1. Overview
- 7.5.2. Portfolio
- 7.5.3. Key Strengths
- 7.5.4. Key Challenges
- 7.6. Smith & Nephew
- 7.6.1. Overview
- 7.6.2. Portfolio
- 7.6.3. Key Strengths
- 7.6.4. Key Challenges
- 7.7. Medtronic Plc
- 7.7.1. Overview
- 7.7.2. Portfolio
- 7.7.3. Key Strengths
- 7.7.4. Key Challenges
- 7.8. Stryker Corporation
- 7.8.1. Overview
- 7.8.2. Portfolio
- 7.8.3. Key Strengths
- 7.8.4. Key Challenges
- 7.9. Zimmer Biomet Holdings Inc
- 7.9.1. Overview
- 7.9.2. Portfolio
- 7.9.3. Key Strengths
- 7.9.4. Key Challenges
- 7.10. Stereotaxis Inc
- 7.10.1. Overview
- 7.10.2. Portfolio
- 7.10.3. Key Strengths
- 7.10.4. Key Challenges
- 8. Research Methodology & Scope
- 8.1. Research Scope & Deliverables
- 8.2. Sources Of Data
- 8.3. Research Methodology
- Tables List
- Table 1: Europe Surgical Robotics Market, By Country Outlook, 2024-2032 (In $ Million)
- Table 2: List Of Collaborations
- Table 3: List Of Product Launches
- Table 4: List Of Acquisitions
- Table 5: List Of Business Expansions
- Table 6: Europe Surgical Robotics Market, By Type, 2024-2032 (In $ Million)
- Table 7: Europe Surgical Robotics Market, By Application, 2024-2032 (In $ Million)
- Table 8: Europe Surgical Robotics Market, By Vertical, 2024-2032 (In $ Million)
- Table 9: Europe Surgical Robotics Market, By Country Outlook, 2024-2032 (In $ Million)
- Figures List
- Figure 1: Technology Snapshot
- Figure 2: Porter’s Five Forces Analysis
- Figure 3: Key Buying Impact Analysis
- Figure 4: Europe Surgical Robotics Market, By Type, 2023 & 2032 (In %)
- Figure 5: Europe Surgical Robotics Market, By Robotic Systems, 2024-2032 (In $ Million)
- Figure 6: Europe Surgical Robotics Market, By Instruments & Accessories, 2024-2032 (In $ Million)
- Figure 7: Europe Surgical Robotics Market, By Services, 2024-2032 (In $ Million)
- Figure 8: Europe Surgical Robotics Market, By Application, 2023 & 2032 (In %)
- Figure 9: Europe Surgical Robotics Market, By Gynecological Surgery, 2024-2032 (In $ Million)
- Figure 10: Europe Surgical Robotics Market, By Urological Surgery, 2024-2032 (In $ Million)
- Figure 11: Europe Surgical Robotics Market, By Neurosurgery, 2024-2032 (In $ Million)
- Figure 12: Europe Surgical Robotics Market, By Orthopedic Surgery, 2024-2032 (In $ Million)
- Figure 13: Europe Surgical Robotics Market, By General Surgery, 2024-2032 (In $ Million)
- Figure 14: Europe Surgical Robotics Market, By Other Applications, 2024-2032 (In $ Million)
- Figure 15: Europe Surgical Robotics Market, By Vertical, 2023 & 2032 (In %)
- Figure 16: Europe Surgical Robotics Market, By Hospitals, 2024-2032 (In $ Million)
- Figure 17: Europe Surgical Robotics Market, By Ambulatory Surgery Centers, 2024-2032 (In $ Million)
- Figure 18: Europe Surgical Robotics Market, By Other Verticals, 2024-2032 (In $ Million)
- Figure 19: Europe Surgical Robotics Market, By Country Outlook, 2023 & 2032 (In %)
- Figure 20: United Kingdom Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 21: Germany Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 22: France Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 23: Italy Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 24: Spain Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 25: Rest Of Europe Surgical Robotics Market 2024-2032 (In $ Million)
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