Report : Asia Pacific Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Instruments & Accessories, Robotic Systems, and Services), Application (Urological Surgery, Orthopedic Surgery, General Surgery, Gynecological Surgery, Cardiothoracic Surgery, Neurosurgery, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)
At 15.8% CAGR, the Asia Pacific Surgical Robots Market is speculated to be worth US$ 3,823.79 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific surgical robots market was valued at US$ 1,587.74 million in 2022 and is expected to reach US$ 3,823.79 million by 2028, registering an annual growth rate of 15.8% from 2022 to 2028. Upward number of surgical procedures.
The Surgical Robots market players are focused on launching new products to grow their geographic reach and enhance capacities to cater to a greater than existing customer base. For instance, on December 4, 2020, Sysmex Corporation launched the hinotori Surgical Robots System, a Surgical Robots unit, and the HF Series Instrument, a reusable active endotherapy device for medical institutions in Japan. Likewise, in October 2020, CMR Surgical announced the launch of its Versius Surgical Robotic System at Argenteuil Hospital, a leading public health center based near Paris, France. This announcement follows a competitive tender win for Versius, which has now been selected as a preferred surgical Robotic system for minimal access surgery (MAS) by Resah, which is one of the largest public purchasing centers in the healthcare sector, which collaborates with more than 700 public and private nonprofit hospital, medico-social and social centers. Similarly, in July 2021, Smith + Nephew announced the launch of its Real Intelligence suite of enabling technology solutions, including its next-generation Robotics platform, the CORI surgical system, in India. This CORI Surgical System is small, portable, and perfect for crowded operating rooms in Indian hospitals. It includes new camera technology that is over four times faster, offers more efficient cutting with twice the volume, and aims to deliver a faster Robotic-assisted surgical procedure. The CORI System uses surgeon–controlled Robotics, and its modular design will enable it to be scaled across the orthopedic service line. Recently, in 2021, SS Innovations, a Gurgaon-based company, which is promoted by Dr. Sudir P Srivastava—the renowned Robotic cardiothoracic surgeon, will commercially launch India’s first and world’s cheapest general Robotic surgery system within the next 4-6 months. The company is planning to manufacture 100 units of the multi-arm novel ‘Mantra’ Surgical Robotic System in 2021. Furthermore, the company has already invested ~₹300 crores and is planning to invest another ₹1,000 crores in boosting production. Moreover, according to a study conducted by CRM Surgical, it has been stated that ~6,000-6,500 Robotic surgical systems have been globally installed in the last two decades. This is anticipated to surge over the forecast period owing to the growing development and innovations in the medical device industry. This will contribute to the growth of the Surgical Robots market over the forecast period.
On the contrary, high charge of surgical procedures and Installation hurdles the growth of Asia Pacific surgical robots market.
- Based on component, the Asia Pacific surgical robots market is categorized into instruments & accessories, robotic systems, and services. The instruments & accessories segment held 53.5% market share in 2022, amassing US$ 849.91 million. It is projected to garner US$ 2,124.07 million by 2028 to expand at 16.5% CAGR during 2022–2028.
- Based on application, the Asia Pacific surgical robots market is categorized into urological surgery, orthopedic surgery, general surgery, gynecological surgery, cardiothoracic surgery, neurosurgery, and others. The urological surgery segment held 23.7% market share in 2022, amassing US$ 376.78 million. It is projected to garner US$ 952.89 million by 2028 to expand at 16.7% CAGR during 2022–2028
- Based on end user, the Asia Pacific surgical robots market is categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment held 70.8% market share in 2022, amassing US$ 1,124.60 million. It is projected to garner US$ 2,771.59 million by 2028 to expand at 16.2% CAGR during 2022–2028.
- Based on country, the Asia Pacific surgical robots market has been categorized into the China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. Our regional analysis states that China captured 28.8% market share in 2022. It was assessed at US$ 457.86 million in 2022 and is likely to hit US$ 1,145.49 million by 2028, exhibiting a CAGR of 16.5% during the forecast period.
Key players dominating the Asia Pacific surgical robots market are Intuitive Surgical; Smith+Nephew; Johnson & Johnson Services, Inc.; Stryker; THINK Surgical; Zimmer Biomet; Medtronic; Siemens Healthineers AG; Asensus Surgical, Inc.; and Renishaw plc among others.
- In May 2022, Intuitive collaborating with Creo Medical to enhance surgical Robots.
- In Jan 2022, Smith+Nephew adds total hip arthroplasty to Cori surgical Robots.
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