Surgical Robotics Market in North America: Growth Trends

Surgical Robotics Market in North America: Growth Trends

Accuracy in performing complex surgical procedures contributes to the growth of the surgical robots market.

SURGICAL ROBOTICS MARKET SCOPE

As per Triton’s research, the North America surgical robotics market is estimated to advance at 8.92% CAGR in terms of revenue during the forecast period 2024-2032. The United States gained the majority market share and achieved $4759.68 million in 2023.

The segment in this market is categorized as vertical, type, application, and country outlook.

The incorporation of artificial intelligence (AI) and machine learning (ML) in robotic surgery systems is significantly contributing to the market growth of surgical robots in North America. AI-driven robots learn from vast amounts of surgical data, continuously improving their performance over time. Hence, these advanced technologies enable robotic systems to perform complex surgeries with greater accuracy and reduced risk of human error. The ability to offer minimally invasive procedures with superior results is also attracting investment and accelerating surgical robots market expansion.

Stryker Corporation, Globus Medical, Smith & Nephew, Intuitive Surgical, Stereotaxis Inc, Medtronic Plc, etc., are a few prominent players in the surgical robots industry.

SURGICAL ROBOTICS MARKET CURRENT PERFORMANCE: COUNTRY ANALYSIS

The countries studied in this region are Brazil, Mexico, and Rest of Latin America.

Development of Surgical Robotics Market in the United States

The da Vinci system, produced by Intuitive, has become the top pick for a multitude of surgeries across the United States. Industry reports an uptick in robotic surgeries, with numbers surpassing 1.1 million. This notable surge in the adoption of robotic surgeries within the US, especially in procedures carried out with the da Vinci system, indicates a rising confidence among healthcare providers and patients in the effectiveness and advantages of these advanced surgical robotics technologies.

Growth of Surgical Robotics Market in Canada

In 2023, the provincial Ministry of Health announced that three categories of robotic-assisted surgery are now eligible for coverage under the Ontario Health Insurance Plan (OHIP). These include robotic-assisted procedures for robotic nephrectomies, prostate cancer, and specific types of hysterectomies. In this regard, the Boris Family Centre for Robotic Surgery also intends to initiate a fundraising campaign aimed at acquiring a second da Vinci XI robot. Such initiatives define a promising market growth for surgical robots.

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:

Accomplishment: Zimmer Biomet Holdings Inc (April 2024)

Zimmer Biomet completed the world’s first shoulder replacement surgery utilizing a surgical robotic system named the ROSA Shoulder System. This provides surgeons with the execution of both anatomic and reverse techniques in total shoulder replacement surgeries, facilitating precise implant placement.