Market by Type, Application, Vertical, and Country Outlook | Forecast 2024-2032
Triton’s research report predicts that the Latin America surgical robotics market is set to advance at a CAGR of 8.59% in revenue during the forecast years 2024-2032.
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Originating in the 1980s, the popularity of Minimally Invasive Surgery (MIS) grows with technological advancements, driving the integration of robotic-assisted surgeries. MIS dominates the hospitals in Latin America, with 80% of elective procedures utilizing this method, fueling demand for surgical robotics. This trend signifies the region’s increasing reliance on advanced surgical techniques leading to the growth of the surgical robots market.
The countries studied in this region include:
Brazil obtained the highest share in the surgical robots market, with $148.34 million in 2023.
The proliferation of robotic platforms is on the rise nationwide, where approximately 1,500 certified surgeons are equipped to conduct robotic surgeries.
As the largest economy in Latin America, Brazil plays a pivotal role in spearheading the advancement of medical technologies across the region.
The surgical practices operate within two distinct healthcare system frameworks, which fuels the demand for robotic surgeries in the country.
Surgical Robots Market Forecast for Mexico
Robotic surgery holds significant importance in Mexico across a spectrum of medical procedures, spanning delicate neurosurgical biopsies, minimally invasive surgeries, and the treatment of diverse conditions like uterine cancer, gastrointestinal ailments, urinary blockages, and hysterectomies. Notably, its adoption has been more widespread in the public health sector than in private healthcare facilities throughout the country.
The surgical robots market is segmented based on application, vertical, and type. The vertical segment is further branched into ambulatory surgery centers, hospitals, and other verticals. Ambulatory surgery centers (ASCs) are modern-day facilities in healthcare that provide same-day surgical care. These centers offer a better alternative to hospital-based outpatient procedures that can transform the surgery experience for patients.
The key entities in the reviewed market are Ethicon, CMR Surgical Ltd, Accuracy Incorporated, Zimmer Biomet Holdings Inc, Globus Medical, Smith & Nephew, Stryker Corporation, Intuitive Surgical, Stereotaxis Inc, and Medtronic Plc.
Ethicon is a medical device company that operates business through Ethicon Inc and Ethicon Endo-Surgery Inc. As a subsidiary of Johnson and Johnson, the company’s major products include staplers, energy devices, clip appliers, trocars, endoscopic instruments, etc. Ethicon provides ultrasonic energy devices and advanced bipolar energy devices. The company has medical education and manufacturing, surgical training, and sales facilities in the Americas, Europe, and Asia-Pacific. It is headquartered in Cincinnati, Ohio, the US.
Latest from the Company:
In February 2023, Ethicon shared news about the first robotic-assisted removal of kidney stones with the help of the MONARCH Platform for Urology. The procedure successfully employed this Platform for urology to guide percutaneous access and mini-percutaneous nephrolithotomy (PCNL) using electromagnetic (EM) assistance.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the surgical robots market revenue growth in Latin America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the Latin America surgical robotics market’s growth during the upcoming years
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VIEW REPORT1. LATIN
AMERICA SURGICAL ROBOTICS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. TECHNOLOGY
SNAPSHOT
2.2. PARENT
MARKET ANALYSIS: MEDICAL AND SURGICAL ROBOTICS MARKET
2.3. IMPACT
ANALYSIS ON THE SURGICAL ROBOTICS MARKET
2.3.1. COVID-19
IMPACT ON SURGICAL ROBOTICS MARKET
2.4. PORTER’S
FIVE FORCES ANALYSIS
2.4.1. THREAT
OF NEW ENTRANTS
2.4.2. THREAT
OF SUBSTITUTES
2.4.3. BARGAINING
POWER OF BUYERS
2.4.4. BARGAINING
POWER OF SUPPLIERS
2.4.5. THREAT
OF COMPETITIVE RIVALRY
2.5. KEY
BUYING IMPACT ANALYSIS
2.5.1. TECHNOLOGY
2.5.2. COST
2.5.3. SAFETY
2.6. KEY
MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT
LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS
EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. RISE
IN THE GERIATRIC POPULATION AND INCREASING NUMBER OF SURGERIES
2.7.2. INCORPORATION
OF ARTIFICIAL INTELLIGENCE (AI) AND MACHINE LEARNING (ML) IN ROBOTIC SURGERY
SYSTEMS
2.7.3. SURGE
IN ADOPTION OF ROBOTICS IN THE HEALTHCARE INDUSTRY
2.8. MARKET
CHALLENGES
2.8.1. RISKS
IN ROBOTIC SURGERY
2.8.2. SIGNIFICANT
INSTALLATION COSTS
2.8.3. SHORTAGE
OF SKILLED WORKFORCE
2.9. MARKET
OPPORTUNITIES
2.9.1. GROWING
APPLICATIONS OF ARTIFICIAL INTELLIGENCE
2.9.2. INTEGRATION
OF BIG DATA IN SURGICAL ROBOTICS
2.9.3. ENHANCED
ACCURACY WITH MINIATURE ROBOTS
2.10. ANALYST
PERSPECTIVE
2.10.1. BENEFITS
OF AUTOMATED MICROSURGERY
2.10.2. ADVANCEMENTS
IN MINIMALLY INVASIVE SURGERIES
2.10.3. SURGE
IN DEMAND FOR ROBOTIC TELESURGERY
3. LATIN
AMERICA SURGICAL ROBOTICS MARKET – BY TYPE
3.1. ROBOTIC
SYSTEMS
3.2. INSTRUMENTS
& ACCESSORIES
3.3. SERVICES
4. LATIN
AMERICA SURGICAL ROBOTICS MARKET – BY APPLICATION
4.1. GYNECOLOGICAL
SURGERY
4.2. UROLOGICAL
SURGERY
4.3. NEUROSURGERY
4.4. ORTHOPEDIC
SURGERY
4.5. GENERAL
SURGERY
4.6. OTHER
APPLICATIONS
5. LATIN
AMERICA SURGICAL ROBOTICS MARKET – BY VERTICAL
5.1. HOSPITALS
5.2. AMBULATORY
SURGERY CENTERS
5.3. OTHER VERTICALS
6. LATIN
AMERICA SURGICAL ROBOTICS MARKET – BY COUNTRY OUTLOOK
6.1. LATIN
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. BRAZIL
6.1.1.1.1. BRAZIL
SURGICAL ROBOTICS MARKET FORECAST & PROSPECTS
6.1.1.2. MEXICO
6.1.1.2.1. MEXICO
SURGICAL ROBOTICS MARKET FORECAST & PROSPECTS
6.1.1.3. REST
OF LATIN AMERICA
6.1.1.3.1. REST
OF LATIN AMERICA SURGICAL ROBOTICS MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. ACCURACY
INCORPORATED
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY
STRENGTHS
7.1.4. KEY
CHALLENGES
7.2. CMR
SURGICAL LTD
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY
STRENGTHS
7.2.4. KEY
CHALLENGES
7.3. ETHICON
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY STRENGTHS
7.3.4. KEY
CHALLENGES
7.4. GLOBUS
MEDICAL
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY
STRENGTHS
7.4.4. KEY
CHALLENGES
7.5. INTUITIVE
SURGICAL
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY
STRENGTHS
7.5.4. KEY
CHALLENGES
7.6. SMITH
& NEPHEW
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY
STRENGTHS
7.6.4. KEY
CHALLENGES
7.7. MEDTRONIC
PLC
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY
STRENGTHS
7.7.4. KEY
CHALLENGES
7.8. STRYKER
CORPORATION
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTHS
7.8.4. KEY
CHALLENGES
7.9. ZIMMER
BIOMET HOLDINGS INC
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY
STRENGTHS
7.9.4. KEY
CHALLENGES
7.10. STEREOTAXIS
INC
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY
STRENGTHS
7.10.4. KEY
CHALLENGES
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE
1: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $
MILLION)
TABLE
2: LIST OF COLLABORATIONS
TABLE
3: LIST OF PRODUCT LAUNCHES
TABLE
4: LIST OF ACQUISITIONS
TABLE
5: LIST OF BUSINESS EXPANSIONS
TABLE
6: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY TYPE, 2024-2032 (IN $ MILLION)
TABLE
7: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY APPLICATION, 2024-2032 (IN $
MILLION)
TABLE
8: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY VERTICAL, 2024-2032 (IN $
MILLION)
TABLE
9: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $
MILLION)
FIGURE
1: TECHNOLOGY SNAPSHOT
FIGURE
2: PORTER’S FIVE FORCES ANALYSIS
FIGURE
3: KEY BUYING IMPACT ANALYSIS
FIGURE
4: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY TYPE, 2023 & 2032 (IN %)
FIGURE
5: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY ROBOTIC SYSTEMS, 2024-2032 (IN $
MILLION)
FIGURE
6: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY INSTRUMENTS & ACCESSORIES,
2024-2032 (IN $ MILLION)
FIGURE
7: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY SERVICES, 2024-2032 (IN $
MILLION)
FIGURE
8: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY APPLICATION, 2023 & 2032 (IN
%)
FIGURE
9: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY GYNECOLOGICAL SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
10: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY UROLOGICAL SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
11: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY NEUROSURGERY, 2024-2032 (IN $
MILLION)
FIGURE
12: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY ORTHOPEDIC SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
13: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY GENERAL SURGERY, 2024-2032 (IN $
MILLION)
FIGURE
14: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY OTHER APPLICATIONS, 2024-2032
(IN $ MILLION)
FIGURE
15: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY VERTICAL, 2023 & 2032 (IN %)
FIGURE
16: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY HOSPITALS, 2024-2032 (IN $ MILLION)
FIGURE
17: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY AMBULATORY SURGERY CENTERS,
2024-2032 (IN $ MILLION)
FIGURE
18: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY OTHER VERTICALS, 2024-2032 (IN $
MILLION)
FIGURE
19: LATIN AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY OUTLOOK, 2023 & 2032
(IN %)
FIGURE
20: BRAZIL SURGICAL ROBOTICS MARKET 2024-2032 (IN $ MILLION)
FIGURE
21: MEXICO SURGICAL ROBOTICS MARKET 2024-2032 (IN $ MILLION)
FIGURE
22: REST OF LATIN AMERICA SURGICAL ROBOTICS MARKET 2024-2032 (IN $ MILLION)