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 drive the demand for surgical robots, thereby expanding the Surgical Robots Market, enabling surgeons to perform surgeries with accuracy and precision. For instance, according to a report by the Red Española de Registros de Cáncer in January 2023, the estimated incident cases of cancer in Spain for 2023 were 279,260, with 158,544 cases in men and 120,715 in women. The utilization of surgical robots and robot-controlled tools allows for less invasive procedures compared to open surgery, thereby fueling growth in the Robotic Surgical Systems Market during the forecast period.
Many hospitals and institutions are actively adopting these robots to improve surgical outcomes. For example, in August 2024, Vicarious Surgical entered a strategic development agreement with LSU Health New Orleans, granting access to an extensive network of healthcare professionals and collaborative opportunities with experienced robotic surgeons. This partnership enables Vicarious to advance its Robotic Surgical Systems with direct clinical input. Such collaborations are anticipated to drive growth in the Robot-Assisted Surgical Systems Market by fostering innovation and expanding technological adoption across healthcare networks.
Moreover, major players' launches of technologically advanced surgical robots are anticipated to further boost segment growth. For instance, in November 2023, Johnson and Johnson received approval from the United States Food and Drug Administration for the OTTAVA robotic surgical system, marking a significant milestone poised to propel growth in the Surgical Robots Industry.
Therefore, due to factors such as increasing product availability, rising cancer incidence rates, and the growing adoption of surgical robots, the segment is expected to experience significant growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market during the Forecast Period
Factors such as the high burden of chronic diseases, technological advancements in Robotic Surgery Devices, and market player launches are expected to propel the growth of the North American Robot-Assisted Surgical Systems Market.
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 the American Cancer Society's Cancer Statistics 2023, 1.9 million new cancer cases were diagnosed in the United States in 2023. Therefore, such a huge incidence of cancer cases 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 Robotic Surgery Market Growth over the forecast period.
Moreover, increasing product approvals in the region are also expected to propel the growth of the Robotic Surgery Devices Market. For instance, in November 2024, Johnson & Johnson MedTech received the Food and Drugs Administration's approval of the investigational device exemption (IDE) for its OTTAVA robotic surgical system, enabling clinical trials to commence in United States locations. This approval represents a significant milestone for OTTAVA's entry into the clinical setting, advancing robotic technology in surgical procedures. This development is expected to drive growth within the Robot-Assisted Surgical Systems Market by broadening clinical applications and encouraging further adoption in surgical care. Similarly, in October 2023, Spine Wave and eCential Robotics entered into a long-term collaboration agreement involving development, marketing, and commercialization to offer a combined optimized solution and enhance robotic spine surgery.
Therefore, owing to the factors mentioned above, such as the high burden of chronic diseases, rising product approvals, and launches by market players, the growth of the studied market is anticipated in the North American region.
