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AI-based Surgical Robots Market By Product (Services, Instrument & Accessories), By Application (General Surgery, Urology, Orthopedic, Gynecology, Others) – Growth, Future Prospects & Competitive Analysis, 2019 – 2027

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Published: | Report ID: 2817 | Report Format : PDF

Market Insights

The AI-based surgical robots market is expected to reach US$ 33,244.4 million by 2027, up from US$ 6,237.3 million in 2018, with a compounded annual growth rate (CAGR) of 20.7% from 2019 to 2027. As per the statistics provided by the World Health Organization, 70% of global deaths are associated with noncommunicable diseases.

Technological advancement in surgical robot equipment enhanced with artificial intelligence is currently being utilized by surgeons worldwide to curb the mortality rate associated with chronic diseases. Rising public health awareness and enhanced patient safety and compliance bolster the market growth for AI-based surgical robots.

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Market Synopsis

High maintenance costs associated with algorithms of robotic surgery systems and routing technology upgrades increase the demand for service products.

Services hold the largest share in the product segment of the market for AI-based surgical robots. High maintenance costs associated with the algorithms of robotic surgery systems and routine technology upgrades increase the demand for service products.

Instruments and accessories are going to register rampant growth in the near future owing to a significant rise in the number of surgeries performed worldwide and the huge popularity and acceptance of AI-based surgical robot systems by surgeons worldwide.

A significant rise in abdominal surgeries and the rising prevalence of breast cancer together increase the demand for general surgery.

General surgery is the market’s dominant application segment for AI-based surgical robots. The major factors driving its market growth are a significant rise in abdominal surgical procedures performed worldwide and the rising prevalence of breast cancer. Surgeons are now using robotic-assisted surgery to perform minimally invasive laparoscopic surgeries, which involve making a few incision cuts and inserting surgical equipment and a magnified camera for viewing through robotic arms that simulate the surgeon’s hand movements.

Breast cancer patients are also opting for robot-assisted surgery to precisely remove the cancerous cells while causing minimal damage to other soft tissues. Gynecology surgical procedures using AI-based technology have garnered tremendous attention since their approval by the USFDA in 2005. It is widely used to perform the hysterectomy, myomectomy, sacrocolpopexy, etc., ensuring optimal patient compliance and safety.

Effective collaboration between healthcare and robotics software companies and rising public health awareness pertaining to the benefits of AI-based surgical procedures

North America is the dominant regional segment of the market for AI-based surgical robots, representing a share of 45%. The chief contributing factors responsible for its global dominance are an effective collaboration between healthcare and robotics software companies and rising public health awareness pertaining to the benefits associated with AI-based surgical procedures.

Europe is in second place, holding a market share of 30% on account of strategic collaboration between academic research institutes and hospitals diligently pursuing the development of machine learning algorithms pertaining to multidisciplinary surgical procedures. Asia Pacific is accountable for 15% of the market share, owing to proactive government initiatives to provide funds for developing robotics technology pertaining to healthcare.

Periods of History and Forecast

This research report presents the analysis of each segment from 2017 to 2027, considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The market segmentation for the scope of the report is done by product, application, and by geography.

Companies developing AI-based surgical robots are Accuray Incorporated, Hansen Medical, Intuitive Surgical, Inc., MAKO, Mazor Robotics, Medrobotics Corporation, Medtech Surgical, Stereotaxis, Inc., TransEnterix, and Titan Medical, Inc.

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Key questions are answered in this report.

  • Which companies provide AI-powered surgical robots to patients suffering from chronic diseases?
  • What are the important mergers and acquisitions taking place, and how are they affecting the overall market growth for AI-based surgical robots?
  • A brief explanation related to the DROs associated with the AI-based surgical robot market
  • What is the market size and CAGR of the services segment?
  • What are the different minimally invasive surgical procedures performed under the “general surgery” category?
  • Why is North America the regional market leader for AI-based surgical robots?

Chapter 1. Preface
1.1. Report Scope and Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Approach Adopted
1.3.4. Top-down Approach
1.3.5. Bottom-up Approach
1.3.6. Phase III-Expert Panel Review
1.3.7. Assumptions
1.4. Market Segmentation

Chapter 2. Executive Summary
2.1. Global AIbSR Market Portraiture
2.2. Global AIbSR Market, by Product, 2018 (US$ Mn)
2.3. Global AIbSR Market, by Application, 2018 (US$ Mn)
2.4. Global AIbSR Market, by Geography, 2018 (US$ Mn)

Chapter 3. AI-based Surgical Robots (AIbSR) Market: Dynamics and Future Outlook
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Opportunities
3.5. Attractive Investment Proposition, by Geography, 2018
3.6. Competitive Analysis: Global AIbSR Market, by Key Players, 2018

Chapter 4. Global AI-based Surgical Robots (AIbSR) Market, by Product
4.1. Overview
4.2. Services
4.3. Instrument & Accessories

Chapter 5. Global AI-based Surgical Robots (AIbSR) Market, by Application
5.1. Overview
5.2. General Surgery
5.3. Urology
5.4. Orthopedic
5.5. Gynecology
5.6. Others

Chapter 6. Global AI-based Surgical Robots (AIbSR) Market, by Geography
6.1. Overview
6.2. North America AIbSR Market Analysis, 2017 – 2027
6.2.1. North America AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
6.2.2. North America AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
6.2.3. North America AIbSR Market, by Country, 2017 – 2027 (US$ Mn)
6.2.3.1. U.S.
6.2.3.2. Canada
6.3. Europe AIbSR Market Analysis, 2017 – 2027
6.3.1. Europe AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
6.3.2. Europe AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
6.3.3. Europe AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
6.3.3.1. U.K.
6.3.3.2. Germany
6.3.3.3. Rest of Europe
6.4. Asia Pacific AIbSR Market Analysis, 2017 – 2027
6.4.1. Asia Pacific AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
6.4.2. Asia Pacific AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
6.4.3. Asia Pacific AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
6.4.3.1. China
6.4.3.2. Japan
6.4.3.3. Rest of Asia Pacific
6.5. Latin America AIbSR Market Analysis, 2017– 2027
6.5.1. Latin America AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
6.5.2. Latin America AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
6.5.3. Latin America AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
6.5.3.1. Brazil
6.5.3.2. Mexico
6.5.3.3. Rest of Latin America
6.6. Middle East and Africa AIbSR Market Analysis, 2017 – 2027
6.6.1. MEA AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
6.6.2. MEA AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
6.6.3. MEA AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
6.6.3.1. GCC
6.6.3.2. Rest of MEA

Chapter 7. Company Profiles
7.1. Accuray Incorporated
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. Hansen Medical
7.3. Intuitive Surgical, Inc.
7.4. MAKO
7.5. Mazor Robotics
7.6. Medrobotics Corporation
7.7. Medtech Surgical
7.8. Stereotaxis, Inc.
7.9. TransEnterix
7.10. Titan Medical, Inc.

List of Figures

FIG. 1 : AI-based Surgical Robots (AIbSR) Market: Research Methodology
FIG. 2 : AIbSR: Market Segmentation
FIG. 3 : Global AIbSR Market, by Product, 2018 (US$ Mn)
FIG. 4 : Global AIbSR Market, by Application, 2018 (US$ Mn)
FIG. 5 : Global AIbSR Market, by Geography, 2018 (US$ Mn)
FIG. 6 : Attractive Investment Proposition: by Geography, 2018
FIG. 7 : Competitive Analysis: Global AIbSR Market, by Key Players, 2018
FIG. 8 : Global Services Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 9 : Global Instrument & Accessories Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 10 : Global General Surgery Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 11 : Global Urology Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 12 : Global Orthopedic Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 13 : Global Gynecology Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 14 : Global Other Applications Market for AIbSR, 2017 – 2027 (US$ Mn)
FIG. 15 : U.S. AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 16 : Canada AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 17 : U.K. AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 18 : Germany AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 19 : Rest of Europe AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 20 : China AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 21 : Japan AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 22 : Rest of Asia Pacific AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 23 : Brazil AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 24 : Mexico AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 25 : Rest of Latin America AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 26 : GCC AIbSR Market, 2017 – 2027 (US$ Mn)
FIG. 27 : Rest of MEA AIbSR Market, 2017 – 2027 (US$ Mn)

List of Tables

TABLE 1 : Global AI-based Surgical Robots (AIbSR) Market Portraiture
TABLE 2 : Global AIbSR Market, by Product, 2017 – 2027 (US$ Mn)
TABLE 3 : Global AIbSR Market , by Application, 2017 – 2027 (US$ Mn)
TABLE 4 : Global AIbSR Market, by Geography, 2017 – 2027 (US$ Mn)
TABLE 5 : North America AIbSR Market, by Products, 2017 – 2027 (US$ Mn)
TABLE 6 : North America AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
TABLE 7 : North America AIbSR Market, by Country, 2017 – 2027 (US$ Mn)
TABLE 8 : Europe AIbSR Market, by Products, 2017 – 2027 (US$ Mn)
TABLE 9 : Europe AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
TABLE 10 : Europe AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
TABLE 11 : Asia Pacific AIbSR Market, by Products, 2017 – 2027 (US$ Mn)
TABLE 12 : Asia Pacific AIbSR Market, by Application, 2017 – 2027 US$ Mn)
TABLE 13 : Asia Pacific AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
TABLE 14 : Latin America AIbSR Market, by Products, 2017 – 2027 (US$ Mn)
TABLE 15 : Latin America AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
TABLE 16 : Latin America AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
TABLE 17 : Middle East and Africa AIbSR Market, by Products, 2017 – 2027 (US$ Mn)
TABLE 18 : Middle East and Africa AIbSR Market, by Application, 2017 – 2027 (US$ Mn)
TABLE 19 : Middle East and Africa AIbSR Market, by Country/Region, 2017 – 2027 (US$ Mn)
TABLE 20 : Accuray Incorporated: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 21 : Hansen Medical: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 22 : Intuitive Surgical, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 23 : MAKO: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 24 : Mazor Robotics: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 25 : Medrobotics Corporation: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 26 : Medtech Surgical: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 27 : Stereotaxis, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 28 : TransEnterix: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 29 : Titan Medical, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)

Frequently Asked Questions

What is the size of AI-based Surgical Robots Market?

The market for AI-based Surgical Robots Market is expected to reach USD$ 33,244.4 Mn in 2027.

What is the AI-based Surgical Robots Market CAGR?

The AI-based Surgical Robots Market is expected to see significant CAGR growth over the coming years, at 20.7%.

What is the Forecast period considered for AI-based Surgical Robots Market?

The report is forecasted from 2019 -2027.

What is the base year considered for AI-based Surgical Robots Market?

The base year of this report is 2018.

Who are the major players in this market?

Hansen Medical, Intuitive Surgical, Inc., MAKO, Mazor Robotics, Medrobotics Corporation, Medtech Surgical, Stereotaxis, Inc. are some of the major players in the global market.

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