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.
- 1. North 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 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. North America Surgical Robotics Market – By Type
- 3.1. Robotic Systems
- 3.2. Instruments & Accessories
- 3.3. Services
- 4. North 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. North America Surgical Robotics Market – By Vertical
- 5.1. Hospitals
- 5.2. Ambulatory Surgery Centers
- 5.3. Other Verticals
- 6. North America Surgical Robotics Market – By Country Outlook
- 6.1. North America
- 6.1.1. Country Analysis
- 6.1.1.1. United States
- 6.1.1.1.1. United States Surgical Robotics Market Forecast & Prospects
- 6.1.1.2. Canada
- 6.1.1.2.1. Canada 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: North 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: North America Surgical Robotics Market, By Type, 2024-2032 (In $ Million)
- Table 7: North America Surgical Robotics Market, By Application, 2024-2032 (In $ Million)
- Table 8: North America Surgical Robotics Market, By Vertical, 2024-2032 (In $ Million)
- Table 9: North 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: North America Surgical Robotics Market, By Type, 2023 & 2032 (In %)
- Figure 5: North America Surgical Robotics Market, By Robotic Systems, 2024-2032 (In $ Million)
- Figure 6: North America Surgical Robotics Market, By Instruments & Accessories, 2024-2032 (In $ Million)
- Figure 7: North America Surgical Robotics Market, By Services, 2024-2032 (In $ Million)
- Figure 8: North America Surgical Robotics Market, By Application, 2023 & 2032 (In %)
- Figure 9: North America Surgical Robotics Market, By Gynecological Surgery, 2024-2032 (In $ Million)
- Figure 10: North America Surgical Robotics Market, By Urological Surgery, 2024-2032 (In $ Million)
- Figure 11: North America Surgical Robotics Market, By Neurosurgery, 2024-2032 (In $ Million)
- Figure 12: North America Surgical Robotics Market, By Orthopedic Surgery, 2024-2032 (In $ Million)
- Figure 13: North America Surgical Robotics Market, By General Surgery, 2024-2032 (In $ Million)
- Figure 14: North America Surgical Robotics Market, By Other Applications, 2024-2032 (In $ Million)
- Figure 15: North America Surgical Robotics Market, By Vertical, 2023 & 2032 (In %)
- Figure 16: North America Surgical Robotics Market, By Hospitals, 2024-2032 (In $ Million)
- Figure 17: North America Surgical Robotics Market, By Ambulatory Surgery Centers, 2024-2032 (In $ Million)
- Figure 18: North America Surgical Robotics Market, By Other Verticals, 2024-2032 (In $ Million)
- Figure 19: North America Surgical Robotics Market, By Country Outlook, 2023 & 2032 (In %)
- Figure 20: United States Surgical Robotics Market 2024-2032 (In $ Million)
- Figure 21: Canada Surgical Robotics Market 2024-2032 (In $ Million)
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