Market Trends of Robotic Assisted Surgery Systems Industry
The Surgical Robot Segment is Expected to Hold a Significant Market Share Over The Forecast Period
The high burden of cancer and cardiovascular diseases worldwide is expected to propel the demand for surgical robots for performing surgeries with accuracy and precision. For instance, according to the American Cancer Society, Cancer Statistics 2023, 1.9 million new cancer cases are predicted to be diagnosed in the United States in 2023. As per the Australian Institute of Health and Welfare (AIHW) 2021 report, a total of 150.8 thousand new cancer cases were estimated in Australia in 2021. According to the Australian Bureau of Statistics, March 2022 update, the prevalence of heart disease in Australia was 4.0%, which represented 1.0 million people in 2021. With the help of surgical robots and robot-controlled tools, surgeons are able to perform surgery in a way that is much less invasive than open surgery, thereby propelling the market growth during the forecast period.
Various hospitals and other institutions are actively adopting these surgical robots to enhance their surgical procedures in terms of patient outcomes. For instance, in August 2022, Max Hospital in Mohali, India launched the 'Da Vinci Xi', a robot that will be used for surgeries under various disciplines including gynecology, oncology, urology, general surgery, bariatric (weight loss), hernia, and gastrointestinal procedures. The installation of surgical robots in hospitals worldwide is expected to propel the segment's growth during the forecast period.
Furthermore, the launches of technologically advanced surgical robots by market players are expected to propel the segment's growth. For instance, in October 2022, Galen Robotics launched the company's first robot called Galen ES which aims to assist in soft tissue surgeries. It acts as a support for surgeons performing ear, nose, and throat (ENT) surgeries, particularly laryngeal cancer operations.
Therefore, owing to the aforesaid factors, the segment is expected to register a significant growth rate during the forecast period.
North America is Expected to Hold a Significant Share in the Market during the Forecast Period
North America is expected to hold significant growth during the robotic-assisted surgery systems market throughout the forecast period owing to the high burden of chronic diseases, technological advancements in robotic-assisted surgery systems, and launches by market players.
The high burden of chronic diseases in the region drives the demand for robotic-assisted surgeries which is expected to propel the market growth. For instance, according to 2022 statistics published by American Heart Association, the prevalence rate of heart failure in the United States was 6 million, which is 1.8% of the total population, in 2021. Also, according to 2022 statistics published by American Heart Association, the prevalence rate of heart failure in Canada was between 1.5% to 1.9% in 2021. Thus, the high burden of cases of heart failure in the country is expected to increase the demand for advanced robotic-assisted surgery systems for better treatment which is further expected to boost the growth of the market over the forecast period.
Furthermore, the increasing acceptance of MIS procedures over traditional surgeries is also driving the growth of the studied market. For instance, in December 2022, Medtronic plc reported the first patient enrolled in the expansion of the United States clinical trial for the Hugo robotic-assisted surgery (RAS) system. The robotic-assisted prostatectomy procedure was performed by Dr. Michael R. Abern at Duke University Hospital in Durham, N.C. Thus, such expansion of MIS is increasing the demand for this procedure in the region.
The strategic initiatives by market players such as product launches, approval, and partnerships to expand the robotic-assisted surgery systems in the region are expected to propel the market growth. For instance, in October 2021, Medtronic Canada ULC commercially launched the Mazor X System in Canada for robotic-guided spine surgery. Also, in March 2021, Asensus Surgical received approval from the FDA for its Senhance Surgical System, which is a digital laparoscopic platform to provide surgical assurance through haptic feedback, eye-tracking camera control, and 3D visualization. Thus, the launch of new products in the region is anticipated to drive the market significantly.
Therefore, owing to the above-mentioned factors such as the high burden of cardiovascular diseases, rising product approvals, and launches by market players, the growth of the studied market is anticipated in the North America Region.
