AI-based Surgical Robots Market Trends

  • Report ID: 6464
  • Published Date: Sep 20, 2024
  • Report Format: PDF, PPT

AI-based Surgical Robots Market Trends

Growth Drivers

  • Increased adoption in minimally invasive procedures: AI-based surgical robots are being adopted rapidly due to their improved control and precision in minimally invasive treatments, which are less stressful for patients and lead to faster recovery times. Also, AI-driven devices can help avoid surgical errors by giving real-time input on possible concerns such as bleeding or instrument collisions.

    Moreover, researchers are focusing on the development of various frameworks to train surgical robots to perform most complex procedures efficiently. For instance, in 2024, researchers from the University of Toronto, UC Berkeley, ETH Zurich, Georgia Tech, and NVIDIA created ORBIT-Surgical, a simulation framework for training robots that could improve surgical teams' abilities while lightening the cognitive load on surgeons.
  • Growing investments from private organizations and governments: The development of AI-based surgical technologies is receiving more funding from governmental and commercial organizations, which is propelling AI-based surgical robots market expansion. Furthermore, the development and uptake of AI-based surgical robots are being accelerated by the growing funding of robotics and AI research in healthcare from governments and healthcare organizations. For instance, in 2024,  Abridge AI, Inc., a leading provider of generative AI for clinical documentation, announced a USD 150 million capital increase, capitalizing on the quick adoption of their solution by health systems across the country.
  • Increasing technological advancements: Sophisticated robotic systems that combine AI capabilities enhance dexterity and control, allowing for more intricate surgical procedures. AI-driven analytics can assess patient outcomes and optimize surgical techniques, leading to continuous improvement in surgical practices. Moreover, innovations in telecommunication enable surgeries, expanding access to expert surgeons and improving patient outcomes in underserved areas. For instance, telesurgery uses robotics and cameras to allow surgeons to perform operations from any location with a high-speed data connection. The implications are great for medicine in developing nations and the military

Challenges

  • Regulatory approvals: The complicated and time-consuming process of obtaining regulatory approvals can prevent AI-driven robotic surgical systems from being widely used. To promote innovation and assess the safety and effectiveness of these systems, regulatory organizations must set precise rules.
  • Growing cyber threats: Cybersecurity concerns are raised by the growing use of AI systems in surgery, as these technologies may be hacked or malfunction and endanger patient safety. Strong security protocols are necessary to guarantee these systems' dependability and integrity.

AI-based Surgical Robots Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

16.3%

Base Year Market Size (2024)

USD 6.6 billion

Forecast Year Market Size (2037)

USD 46.9 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 6464
  • Published Date: Sep 20, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of AI-based surgical robots was over USD 6.6 billion.

The market size for AI-based surgical robots is projected to cross USD 46.9 billion by the end of 2037 expanding at a CAGR of 16.3% during the forecast period i.e., between 2025-2037.

The major players in the market are Accuracy Incorporated, Asensus Surgical, Inc., CMR Surgical, Inc., Intuitive Surgical, Inc., Medtronic plc, Meere Company Inc., Stryker Corporation, Smith and Nephew, Activ Surgical, Inc., Titan Medical Inc., and others.

The hardware segment is anticipated to garner a share/size of 71.2% during 2025-2037.

The North America AI-based surgical robots sector is poised to hold a 41.2% share by the end of 2037.
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