Latin America Surgical Robotics Market Forecast 2024-2032
Surgical safety and precision widen the scope of robotic-assisted surgeries
SURGICAL ROBOTICS MARKET SCOPE
As per Triton’s analysts examine that the Latin America surgical robotics market is anticipated to progress at 8.59% CAGR over the forecast years 2024-2032. In 2023, Brazil marked the majority share of the surgical robots market, achieving $148.34 million.
The segment categorization of the studied market is vertical, type, application, and country outlook.
Médica Sur’s innovative healthcare model emphasizes precision and collaboration, boosting the surgical robotics market in Latin America. With the help of specialized teams and interdisciplinary partnerships, they tailor solutions to individual needs, advancing robotic-assisted surgeries. This commitment to advanced technology and patient-centered drives the demand for surgical robots in this region.
Notable companies like Medtronic Plc, Intuitive Surgical, Stereotaxis Inc, Smith & Nephew, Globus Medical, Stryker Corporation, etc., are driving market growth.
SURGICAL ROBOTICS MARKET CURRENT PERFORMANCE: COUNTRY ANALYSIS
The countries studied in this region are Brazil, Mexico, and the rest of Latin America.
Surgical Robotics Market Progression in Mexico
Mexico allocated approximately USD 84.9 billion under healthcare expenditure in 2022, representing around 6.2% of its GDP. The average per capita healthcare spending for citizens in the country is around $660. A promising healthcare budget allows for public and private investments in advanced medical technologies, including surgical robots. Hospitals and healthcare providers can allocate more funds toward acquiring and maintaining surgical robotic systems, which provides a robust foundation for the growth of the surgical robots market in the nation.
Growth of Surgical Robotics Market in Brazil
Surgeons in Brazil are progressively turning to the sophisticated Da Vinci medical robot for intricate reconstructive nerve procedures. As of 2023, Brazil has 106 Da Vinci robotic systems installed. The country ranks ninth globally in terms of its surgical robot installation capacity. According to MDPI, approximately 118,000 robotic-assisted surgical procedures have been conducted in the country to date. However, the high cost of installing this technology remains a challenge.
What’s new in 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:
Product Launch: Xtant (April 2024)
Xtant Medical Holdings Inc, a medical technology firm specializing in surgical solutions for spinal disorders, announced the complete commercial release of two amniotic membrane allografts, SimpliGraft and SimpliMax, which are designed to act as protective barriers for both chronic and acute wounds.
- 1. Latin America 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 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. Latin America Surgical Robotics Market – By Type
- 3.1. Robotic Systems
- 3.2. Instruments & Accessories
- 3.3. Services
- 4. Latin America 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. Latin America Surgical Robotics Market – By Vertical
- 5.1. Hospitals
- 5.2. Ambulatory Surgery Centers
- 5.3. Other Verticals
- 6. Latin America Surgical Robotics Market – By Country Outlook
- 6.1. Latin America
- 6.1.1. Country Analysis
- 6.1.1.1. Brazil
- 6.1.1.1.1. Brazil Surgical Robotics Market Forecast & Prospects
- 6.1.1.2. Mexico
- 6.1.1.2.1. Mexico Surgical Robotics Market Forecast & Prospects
- 6.1.1.3. Rest Of Latin America
- 6.1.1.3.1. Rest Of Latin America 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 Biometholdings 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: Latin America 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: Latin America Surgical Robotics Market, By Type, 2024-2032 (In $ Million)
- Table 7: Latin America Surgical Robotics Market, By Application, 2024-2032 (In $ Million)
- Table 8: Latin America Surgical Robotics Market, By Vertical, 2024-2032 (In $ Million)
- Table 9: Latin America 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: Latin America Surgical Robotics Market, By Type, 2023 & 2032 (In %)
- Figure 5: Latin America Surgical Robotics Market, By Robotic Systems, 2024-2032 (In $ Million)
- Figure 6: Latin America Surgical Robotics Market, By Instruments & Accessories, 2024-2032 (In $ Million)
- Figure 7: Latin America Surgical Robotics Market, By Services, 2024-2032 (In $ Million)
- Figure 8: Latin America Surgical Robotics Market, By Application, 2023 & 2032 (In %)
- Figure 9: Latin America Surgical Robotics Market, By Gynecological Surgery, 2024-2032 (In $ Million)
- Figure 10: Latin America Surgical Robotics Market, By Urological Surgery, 2024-2032 (In $ Million)
- Figure 11: Latin America Surgical Robotics Market, By Neurosurgery, 2024-2032 (In $ Million)
- Figure 12: Latin America Surgical Robotics Market, By Orthopedic Surgery, 2024-2032 (In $ Million)
- Figure 13: Latin America Surgical Robotics Market, By General Surgery, 2024-2032 (In $ Million)
- Figure 14: Latin America Surgical Robotics Market, By Other Applications, 2024-2032 (In $ Million)
- Figure 15: Latin America Surgical Robotics Market, By Vertical, 2023 & 2032 (In %)
- Figure 16: Latin America Surgical Robotics Market, By Hospitals, 2024-2032 (In $ Million)
- Figure 17: Latin America Surgical Robotics Market, By Ambulatory Surgery Centers, 2024-2032 (In $ Million)
- Figure 18: Latin America Surgical Robotics Market, By Other Verticals, 2024-2032 (In $ Million)
- Figure 19: Latin America Surgical Robotics Market, By Country Outlook, 2023 & 2032 (In %)
- Figure 20: Brazil Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 21: Mexico Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 22: Rest Of Latin America Surgical Robotics Market 2024-2032 (In $ Million)
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