AI-based Surgical Robots Global Market Report 2022: Ukraine-Russia War Impact

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Nov 23, 2022, 08:00 ET

NEW YORK, Nov. 23, 2022 /PRNewswire/ -- 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.

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The global AI based surgical robots market 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, effecting 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 AI-based surgical robots market consists of sales of AI-based surgical robots and related services by entities (organizations, sole traders, and partnerships) that are surgical robots powered by artificial intelligence which are well-known in the medical field and are frequently used. They are computer-manipulated devices that allow surgeons to focus on the complex aspects of surgery.

The main product in AI based surgical robotics markets are services, instrument & accessories.Services include such as capture and analysing patient information for initial diagnosis and assisting surgeons with complex surgeries.

The various applications include orthopedics, neurology, urology, gynecology, and others. These are used by hospitals and 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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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.

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.

In May 2020, Medtronic, a US-based medical device company, announced that it would acquire Digital Surgery for an undisclosed amount.With this acquisition, Digital Surgery would become a part of Medtronic's™ minimally invasive therapies group.

Through this deal, Medtronic would enable digital solutions with robotic platforms and would have a significant impact on enhancing patient access. Digital Surgery is a UK-based company that develops AI-powered surgical video and analytics platforms under the Touch Surgery brand name.

The countries covered in the AI based surgical robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The AI-based surgical robots market research report is one of a series of new reports that provides AI-based surgical robots market statistics, including AI-based surgical robots industry global market size, regional shares, competitors with a AI-based surgical robots market share, detailed AI-based surgical robots market segments, market trends and opportunities, and any further data you may need to thrive in the AI-based surgical robots industry. This AI-based surgical robots market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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