Market by Type, Application, Vertical, and Country Outlook | Forecast 2024-2032
Triton’s research analysis states that the surgical robotics market in North America is expected to generate revenue at a CAGR of 8.92% during the forecast period 2024-2032.
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According to NIH, the total hospital costs per patient for robotic surgery are estimated to be $8,770, which is the most expensive compared to those for open surgery and laparoscopic surgery. These advanced surgeries offer the promise of enhanced patient outcomes, aligning well with the goals of value-based care. Consequently, healthcare providers incorporate surgical robotic technology into their practices to meet the changing needs and expectations of patients. This has positively affected the growth of the surgical robots market in the North American region.
The countries researched in this region include:
The United States achieved the largest market share, with $4756.68 million in 2023.
Industry data reveals that around 78% of surveyed surgeons are highly enthusiastic about incorporating surgical robotics into their practice.
The emergence of alternatives from China introduces a new competitive dynamic, potentially influencing the studied market in the US.
This heightened competition leads to innovation and advancements among the surgical robot manufacturers to maintain their competitive edge.
Surgical Robots Market Forecast for Canada
In 2023, Synaptive (a medical device and technology company) secured a significant $40 million investment from Export Development Canada (EDC) to accelerate the advancement of Canada-made surgical robots for medical imaging, MRI systems, and data technologies. This investment amplifies the opportunity for healthcare providers throughout Canada to utilize these advanced tools to improve patient care and treatment outcomes. Such financial developments mark a significant catalyst propelling the market growth of surgical robotics technology in the country.
The market for surgical robots is categorized into vertical, application, and type. The type segment comprises instruments & accessories, robotic systems, and services. The instruments & accessories required for a robotic surgery include surgical assist arms, 3D stereoscopic vision, endo wrist technology, surgical knives, knee systems, imaging systems, dividers, retractors, etc.
The important contenders in the surgical robots market are Globus Medical, CMR Surgical Ltd, Zimmer Biomet Holdings Inc, Smith & Nephew, Accuracy Incorporated, Stereotaxis Inc, Stryker Corporation, Intuitive Surgical, Medtronic Plc, and Ethicon.
Globus Medical develops and commercializes healthcare solutions for people with musculoskeletal disorders. Its major products include a vertebral augmentation system, ankle fracture system, cannula kit, distal radius fracture system, clavicle fracture system, proximal tibia fracture system and small fragment fracture system. The company distributes products directly and through a network of distributors in the US and other countries. It is headquartered in Audubon, Pennsylvania, the US.
Latest from the Company:
In May 2022, Globus Medical revealed that ‘Excelsius3D’, an advanced 3-in-1 imaging platform for surgery, was successfully used for the first time. This technology is the newest addition to Globus Medical’s Excelsius™ Ecosystem.
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 North 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 North America surgical robotics market’s growth during the upcoming years
Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
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 THE 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. NORTH
AMERICA SURGICAL ROBOTICS MARKET – BY TYPE
3.1. ROBOTIC
SYSTEMS
3.2. INSTRUMENTS
& ACCESSORIES
3.3. SERVICES
4. NORTH
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. NORTH
AMERICA SURGICAL ROBOTICS MARKET – BY VERTICAL
5.1. HOSPITALS
5.2. AMBULATORY
SURGERY CENTERS
5.3. OTHER
VERTICALS
6. NORTH
AMERICA SURGICAL ROBOTICS MARKET – BY COUNTRY OUTLOOK
6.1. NORTH
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. UNITED
STATES
6.1.1.1.1. UNITED
STATES SURGICAL ROBOTICS MARKET FORECAST & PROSPECTS
6.1.1.2. CANADA
6.1.1.2.1. CANADA
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: NORTH 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: NORTH AMERICA
SURGICAL ROBOTICS MARKET, BY TYPE, 2024-2032 (IN $ MILLION)
TABLE 7: NORTH AMERICA
SURGICAL ROBOTICS MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)
TABLE 8: NORTH AMERICA
SURGICAL ROBOTICS MARKET, BY VERTICAL, 2024-2032 (IN $ MILLION)
TABLE 9: NORTH 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: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY TYPE, 2023 & 2032 (IN %)
FIGURE
5: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY ROBOTIC SYSTEMS, 2024-2032 (IN $
MILLION)
FIGURE
6: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY INSTRUMENTS & ACCESSORIES,
2024-2032 (IN $ MILLION)
FIGURE
7: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY SERVICES, 2024-2032 (IN $
MILLION)
FIGURE
8: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY APPLICATION, 2023 & 2032 (IN
%)
FIGURE
9: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY GYNECOLOGICAL SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
10: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY UROLOGICAL SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
11: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY NEUROSURGERY, 2024-2032 (IN $
MILLION)
FIGURE
12: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY ORTHOPEDIC SURGERY, 2024-2032
(IN $ MILLION)
FIGURE
13: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY GENERAL SURGERY, 2024-2032 (IN $
MILLION)
FIGURE
14: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY OTHER APPLICATIONS, 2024-2032
(IN $ MILLION)
FIGURE
15: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY VERTICAL, 2023 & 2032 (IN %)
FIGURE
16: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY HOSPITALS, 2024-2032 (IN $
MILLION)
FIGURE
17: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY AMBULATORY SURGERY CENTERS,
2024-2032 (IN $ MILLION)
FIGURE
18: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY OTHER VERTICALS, 2024-2032 (IN $
MILLION)
FIGURE
19: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY OUTLOOK, 2023 & 2032
(IN %)
FIGURE
20: UNITED STATES SURGICAL ROBOTICS MARKET 2024-2032 (IN $ MILLION)
FIGURE
21: CANADA SURGICAL ROBOTICS MARKET 2024-2032 (IN $ MILLION)