Robotic Assisted Surgery Systems Market Size

Robot-assisted Surgical Systems Market Analysis

The Robotic Assisted Surgery Systems Market size is estimated at USD 9.5 billion in 2024, and is expected to reach USD 17.87 billion by 2029, growing at a CAGR of 13.48% during the forecast period (2024-2029).

COVID-19 had a profound impact on the robotic-assisted surgery market owing to the cancellations of surgical procedures in its initial phase. For instance, according to the article published in January 2021 in Nature Public Health Emergency Collection Journal, the pandemic led to a 60% decrease in robotic surgery. However, the market recovered in the last two years since surgical procedures resumed globally. COVID-19 has a negligible impact on the studied market in the current scenario and is expected to register a stable growth rate during the forecast period.

The advantages of robotic-assisted surgery and rising research studies using robotic-assisted surgeries are expected to propel the market growth during the forecast period. For instance, in September 2022, the Nagoya City University (NCU) Graduate School of Medical Sciences team conducted a study to compare robotic-assisted fluoroscopic-guided with ultrasound-guided renal access for percutaneous nephrolithotomy. The results of the study demonstrated the safety and convenience of the novel robotic device, which could possibly reduce surgeons' training load and allow more hospitals to offer PCNL procedures. Being an AI-powered robotic technology, this technique may pave the way for the automation of similar interventional surgeries that could shorten the procedure time and perhaps reduce the occurrence of complications.

Furthermore, the increasing cases of chronic diseases and rising preference for minimally invasive surgeries due to their success and benefits over open surgery are contributing to the growth of the robotic-assisted surgery systems market. For instance, news published by The Hindu in August 2022, reported that Apollo Health City, Hyderabad has performed over 500 successful Robotic-assisted gynecological surgeries in India. Thus, the increasing adoption of MIS procedures in the country due to the less pain of open surgery is driving the growth of the studied market.

Additionally, in November 2022, Venkateshwar Hospital, Delhi's and India Medtronic Private Limited, a wholly-owned subsidiary of Medtronic plc reported the first urological procedure performed using the Hugo robotic-assisted surgery (RAS) system in north India.

Therefore, owing to the aforementioned factors such as the rising preference for minimally invasive surgery, rising robotic-assisted procedures, and rising launches by market players, the studied market is anticipated to witness growth over the analysis period. However, the stringent regulatory processes and high cost of devices are expected to restrain the market growth.