Top 5 Companies in the Surgical Robots Industry: Growth Prospects, Trends and Challenges

 

What is Surgical Robots?

A surgical robot is a medical device made to help surgeons carry out the most difficult surgical operations with the highest level of control, accuracy, and adaptability. Additionally, the surgical robot market is developing mainly due to to the increasing frequency of bone degenerative diseases, continuous improvements in robotic technology, including better imaging, navigation systems, and more dexterous robotic arms, and increased demand for minimally invasive operations.

 

Growth Prospects in the Surgical Robots Market

1. Growing usage of surgical robots

Surgical robots are becoming more and more popular in the market because of their improved flexibility, control, and accuracy during procedures. Increased demand for such technologies is fueled by improved patient outcomes and fewer human errors. Additional factors include the growing number of minimally invasive operations and technological developments in these systems, such as the incorporation of AI, which are increasing their dependability and appeal. Surgeons' increasing comfort level with the devices, together with the potential for cost savings through shorter hospital stays and fewer problems, has also led to an increase in their utilization. The expansion of surgical applications and regulatory approvals has hastened their use in numerous medical sectors.

 

2. The market for surgical robots is growing as a result of an increase in surgical procedures.

The increase in chronic diseases worldwide is the reason for the rise in surgical treatments. The most prevalent procedures include cataract surgery, orthopedic surgery, cardiovascular surgery, and surgical therapies. In 2020, more than 3.66 million cataract procedures were carried out in Europe, according to figures released by Eurostat. Another factor driving this market's growth and expansion is the rise in orthopedic procedures performed globally. For instance, the Times of India reports that over 800,000 knee replacements are done each year in the United States, whereas hospital admissions for knee replacements have climbed by 2.5 times in India over the last five years. Additionally, the Agency for Healthcare Research and Quality and the American Academy of Orthopedic Surgeons report that over 450,000 total hip replacements are performed annually in the United States. Therefore, it is anticipated that as the number of sophisticated surgical procedures rises, so will the demand for surgical robots.

 

Global Expansion of the Surgical Robots Market

The Global Surgical Robots Market Size was valued at USD 4.6 billion in 2021 and is projected to USD 18.4 billion by 2030, exhibiting a CAGR of 20.1% during the forecast period 2021-2030. The top companies in the global surgical robots market include Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Zimmer Biomet Holdings, Inc., CMR Surgical, Johnson & Johnson, Asensus Surgical, Smith & Nephew plc, Brainlab, and Hansen Medical, Inc.

 

Challenges in the Surgical Robots Industry

1. The high price of automated machinery

High R&D costs, sophisticated technology, and meticulous production are the main causes of robotic systems' high cost in the surgical robotics market. Such systems include extremely sophisticated robotics technology, as well as AI and machine learning algorithms, which are expensive to develop and maintain. High-quality sensors, cameras, and surgical tools are also more expensive, and they must pass strict norm-based testing and clearances.

 

Trends in the Surgical Robots Industry

1. Growing interest in less invasive surgery

Smaller incisions, fewer cuts, and less tissue damage than open surgery are characteristics of minimally invasive surgery. MIS are becoming more and more common since they are less traumatizing and risky than other procedures. MIS has become more popular among surgeons and patients due to its benefits, which include improved cosmetic results, shorter hospital stays, quicker recovery, and fewer postoperative complications.  One minimally invasive surgery (MIS) that builds on these benefits is robotic surgery, which provides increased efficacy, consistency, precision, and command. Furthermore, the need for effective and advanced surgical treatment options is being driven by the rising prevalence of chronic diseases worldwide. This factor has led to an increase in the number of surgical procedures performed.

 

2. Technological developments and the establishment of procedure-specific surgical robotic systems are expected to drive the market.

The U.S. Food and Drug Administration recently approved Intuitive Surgical Inc.'s Ion system. The purpose of the robotic endoluminal system is to enable physicians to do less invasive lung biopsies. One of the key factors propelling the market's expansion is the creation of robotic systems tailored to specific procedures. One of the factors expected to propel the market expansion is the growing inclination for less invasive robotic-assisted surgery.  Furthermore, the market is anticipated to increase during the projected period due to the growing demand and use of surgical robots by medical professionals. Furthermore, due to their higher dexterity and agility compared to the human hand, AI robots can assist surgeons in reaching hard-to-reach places. Any direction they choose is possible. surgical robot benefits and the increasing demand for quicker, better solutions.

 

List of Key Companies in the Surgical Robots Industry

• Intuitive Surgical, Inc.
• Stryker Corporation
• Medtronic plc
• Zimmer Biomet Holdings, Inc.
• CMR Surgical
• Johnson & Johnson
• Asensus Surgical
• Smith & Nephew plc
• Brainlab
• Hansen Medical, Inc.

 

Top 5 Players in the Surgical Robots Industry

1. Intuitive Surgical, Inc

Headquarters: California, USA

American biotechnology business Intuitive Surgical, Inc. creates, produces, and sells robotic devices, most notably the da Vinci Surgical System, that are intended to enhance patient outcomes through minimally invasive surgery. Additionally, it offers the system's instruments, disposable accessories, and warranty services. With over 5,000 installations in the US and an increasing number in emerging nations, the business has installed over 8,600 da Vinci systems in hospitals across the globe. Furthermore, the da Vinci® Surgical System from the company provides surgeons with improved visualization, increased dexterity, increased precision, and ergonomics convenience for the best possible MIS performance. Surgeons may use the da Vinci System to make 1-2 cm incisions for even the most complicated procedures, including open heart surgery.

 

2. Stryker Corporation

 

Headquarters: Portage, United States

Stryker Corporation is a business that deals with medical technologies. The business is divided into two segments: orthopedic surgery and Spinal and MedSurg and Neurological technology. Implants for total joint replacements, including hip, knee, and shoulder replacements, as well as trauma and extremity procedures, are offered by the Orthopaedics and Spine section. Additionally, spinal implant goods from this section include cervical and thoracolumbar devices involving fixation, minimally invasive procedures, and interbody solutions utilized in complex spine, degenerative, and spinal injury treatments. Through its own subsidiary companies and subdivisions, as well as independent dealers and distributors in over 75 countries, the corporation offers its goods to physicians, hospitals, and other healthcare facilities. With its headquarters located in Portage, Michigan, Stryker Corporation was established in 1941.

 

3. Medtronic

 

Headquarters: Dublin, Ireland

The American-Irish medical device firm is called Medtronic plc. The company's administrative and management offices are in Minneapolis, Minnesota, and its legal offices are in Ireland because of the purchase of Irish-based Covidien in 2015. The medical technology business Medtronic Plc (Medtronic), originally known as Medtronic Inc., creates, develops, produces, and sells a variety of medical devices and solutions. Although it employs over 90,000 people and works in more than 150 countries, its primary market is the United States. It creates and produces medical devices and treatments. In terms of revenue, it has become the biggest healthcare equipment firm in the world and one of the major medical technological enterprises globally. Additionally, the Hugo robotic-assisted surgery (RAS) system is the main offering of Medtronic's medical robotics division, which specializes in RAS systems. With the help of this device, patients will be able to undergo minimally invasive treatments with fewer complications, shorter hospital stays, and quicker recovery times.

 

4. Zimmer Biomet Holdings

Headquarters: Warsaw, Indiana

American medical device manufacturer Zimmer Biomet Holdings, Inc. is listed on a stock exchange. In 1927, it was established to manufacture aluminum splints. The company is a member of the medical devices industry cluster and has its headquarters in Warsaw, Indiana. In June 2015, the business rebranded itself as Zimmer Biomet Holdings, Inc. from Zimmer Holdings, Inc. With its headquarters located in Warsaw, Indiana, Zimmer Biomet Holdings, Inc. was established in 1927.  Furthermore, the company's areas of expertise include surgical robots and the design, development, and commercialization of orthopedic goods. In the surgical robotics sector, Zimmer Biomet's leading technology is the ROSA Robotics system, which has uses for shoulder area, hip regions and knee replacement. The ROSA Robotics system is intended to help surgeons plan and carry out intricate treatments with the least amount of invasiveness possible. To improve patient outcomes, it offers data-driven decision support and real-time insights.

 

5. CMR Surgical

Headquarters: Cambridge, United Kingdom

CMR Surgical is a manufacturer of surgical robotic systems aimed at providing all patients with the advantages of low access reconstruction. By dramatically increasing the spectrum of treatments that robots can undertake, the company's devices are making minimal access surgery both economical and widely accessible. Surgeons can now access 3D high-definition imagery and feedback while performing the procedure. The headquarters of the British medical equipment manufacturer CMR Surgical are located in Cambridge, UK. The firm was established in 2014 and focuses on creating surgical robotic systems that would enable all patients to benefit from minimal access surgery (MAS). The Versius Surgical device, their main product, is a portable, modular robotic device that helps surgeons carry out minimally invasive treatments. The Versius technology gives surgeons the ability to receive real-time feedback while doing procedures due to its synthetic arm design, 3D high-resolution vision, and ergonomic controls.

 

Conclusion

The growing need for minimally invasive operations and the development of robotic technology are driving the surgical robotics industry's revolutionary expansion. Surgical solutions are becoming safer, more accurate, and more efficient as a result of the innovation and growth of firms such as Intuitive Surgical, Stryker Corporation, Medtronic, Zimmer Biomet, and CMR Surgical. Across a variety of medical specialties, the combination of artificial intelligence (AI), machine learning, and specialized robotic systems is facilitating more individualized, patient-centered procedures. Even if there are still obstacles like high costs and complicated technology, the trend indicates that robotic-assisted surgeries will improve patient outcomes and spread globally, eventually changing the healthcare industry.

 

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