AI-Based Surgical Robots Market-Size Volume, Share, Demand growth, Business Opportunity by-2027 (Trending Report)

The global AI-based Surgical Robots market gathered revenue around USD 5.8 Billion in 2020 and market is set to grow USD 16.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 15.20% during the prediction period 2021 to 2027.

Increased efficiency and success rate provided by robotic surgeries are boosting the growth of the market. In addition, the shift in preference for minimally invasive surgeries by patients over traditional methods is further bolstering the growth. In 2020, services dominated the market with a share of 52.0%. It is attributed to the comprehensive contracts of services provided by key players to the customers and higher maintenance and routine servicing costs associated with the surgical robots. In addition, the technologically advanced algorithms provided by the companies in these products and their upgrades further add to the services segment, thereby increasing its revenue share.

In 2020, based on application, the other segment accounted for the highest revenue share in the market. The others segment comprises applications such as general surgeries, laparoscopies, and oncological interventions or procedures. The growing number of robotic interventional and assisted surgical procedures and the increasing prevalence of conditions such as breast cancer are some of the major factors responsible for higher revenue share.

Moreover, the COVID-19 pandemic has significantly impacted the market owing to the postponement of elective surgical procedures by various healthcare institutions across the globe. It can be witnessed by the decline in revenue generated by key players in 2020 compared to 2019 further signifies the de-growth of the market due to the pandemic. The presence of benefits of Robot-assisted Surgeries (RAS), such as a reduction in the interaction time between the medical staff and patients for these procedures, is likely to boost market growth post-pandemic.

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Report Coverage

Report Scope Details
Market Size USD 16.9 Billion by 2027
Growth Rate CAGR of 15.20% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape, and Future Trends
Segments Covered Product, application And Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global AI-Based Surgical Robots Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the AI-Based Surgical Robots market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The report includes thorough compilation of the quantitative analysis of the industry for the period of 10 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the global AI-Based Surgical Robots market.

AI-based Surgical Robots Market Report Highlights

  • The market is anticipated to witness significant growth by 2027, owing to the increased efficiency and success rate provided by robotic surgical interventions
  • The services segment dominated the market in 2020 due to comprehensive contracts of services provided by the key players to the customers and higher maintenance and routine servicing costs associated with the surgical robots.
  • The others segment dominated the market in 2020, owing to the growing number of robot-assisted general surgeries and laparoscopies, along with the increasing prevalence of conditions such as breast cancer
  • North America dominated the market with a revenue share of 46.9% in 2020, owing to various factors covering ongoing developments in the robotics sector and artificial intelligence, the presence of key players, and a rising number of technological advancements concerning surgical robots in the region

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Regional analysis;

In 2020, North America dominated the AI-based surgical robots market and accounted for the largest revenue share of 46.0%. The region held the largest revenue share owing to the presence of major players, increasing opportunities for start-ups to enter the market and ongoing developments in the field of artificial intelligence and robotics for healthcare. In addition, increasing demand for minimally invasive procedures and robot-assisted surgeries is fueling the market growth.

However, in Asia Pacific, the market for AI-based surgical robots is expected to exhibit significant growth potential over the forecast period. The introduction of technologically advanced equipment in surgical procedures and interventional procedures in the regional segment coupled with the increasing number of patients opting for robotic surgery is expected to propel the market growth during the forecast period. In addition, increasing investments by major players in the Asia Pacific region is further anticipated to boost the growth.

Key Points of the Global AI-Based Surgical RobotsMarket Report:

  • The report provides a basic overview of the AI-Based Surgical Robots industry including its definition, applications, and manufacturing technology.
  • The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value up to’2027 year’, along with the market shares for each company.
  • Through the statistical analysis, the study depicts the global market for AI-Based Surgical Robots including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
  • Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
  • The report then estimates the market development and trends of the AI-Based Surgical Robots industry up to 2027.
  • The report hints at crucial information associated with new market developments being undertaken in the AI-Based Surgical Robots industry before evaluating its feasibility.

Competitive Analysis

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global AI-Based Surgical Robots market are included as given below:

Some of the prominent players in the AI-based Surgical Robots Market include: Accuray Incorporated; Intuitive Surgical, Inc.; Medtronic, plc; Medrobotics Corporation; Zimmer Biomet; Stereotaxis, Inc.; TransEnterix, Inc. (Asensus Inc.); Stryker Corporation; Activ Surgical, Inc.; Titan Medical, Inc.; CMR Surgical, Inc.; Smith and Nephew

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

  • By Product
    • Services
    • Instruments and Accessories
  • By Application
    • Orthopedics
    • Neurology
    • Urology
    • Gynecology
    • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Reasons to Purchase this Report:

  • Estimates AI-Based Surgical Robots development trends with SWOT analysis
  • Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
  • Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
  • Market dynamics scenario, along with growth opportunities for players in the years to come
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

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