AI-Based Surgical Robots Market Report, 2021 Global Share, Key Players, Segmentation Analysis

A comprehensive overview of the AI-Based Surgical Robots market is recently added by UnivDatos Market Insights to its humongous database. The AI-Based Surgical Robots report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the AI-Based Surgical Robots market. The AI-Based Surgical Robots Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the AI-Based Surgical Robots at the global and regional levels.

Market Overview

Robotic surgeries are gaining traction due to the increased efficiency and success rate provided by these surgeries, along with the “minimally invasive” nature of the surgeries. It has increased the penetration of advanced technologies such as artificial intelligence in the field of robotic surgeries, thereby boosting the market growth Expanding usage of AI technologies in surgical systems is owing to its advantages that range from the consolidation of databases to intraoperative video analysis this, in turn, is supporting the adoption of AI-based surgical robots. An article published in Annals of Surgery in 2018 stated that AI has proved to be beneficial in assisting radiologists and surgeons in reducing the lumpectomy rate by around 30% among patients having bre-ast needle biopsies. These biopsies considered being high-risk lesions, but after the surgical excision, it has found to be benign. Hence, such instances signify the advantageous nature of artificial intelligence and allied technologies in surgical procedures.

A shift in trend from traditional practices of surgical procedures to AI-based approaches by healthcare professionals is also driving the market for AI-based surgical robots. There is an upsurge in the adoption of technologically advanced robots for various applications by surgeons. For instance, a technologically advanced Da Vinci surgical robot is used for different types of surgeries. In addition, as of 2018, MAKO was used for more than 76,000 knee and hip replacements. The rising adoption of the product for various applications is expected to propel the growth of the market for AI-based surgical robots over the forecast period.

COVID-19 Impact

In addition, the pandemic of COVID-19 has also drastically impacted growth opportunities in the market for AI-based surgical robots. To curtail the spread of the virus and prioritize the treatment of COVID-19 patients, healthcare institutions across the world reduced elective surgeries that have led to a decline in any new product acquisition by any healthcare facilities. An article published in Becker’s Hospital Review in 2021 stated that around 106 hospitals in the U.S. suspended or postponed elective procedures amid COVID-19 cases. These are the primary factors accountable for a decline in segment revenues of the major companies in 2020 compared to 2019. For instance, there was a reduction of around 2.7% in the net sales of Intuitive Surgical in 2020 compared to 2019. In March 2019, Titan Medical collaborated with Teleflex Incorporated . The collaboration aimed to develop a robotic ligation technology. Under this partnership, Teleflex’s market-leading polymer ligation technology will be integrated into Titan’s development-stage, single-port robotic surgery system.

Global AI-Based Surgical Robots Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By  Product Type, the market is primarily bifurcated into

• Services
• Instruments
• Accessories

The Service segment dominated the type segment and gathered X% of the AI-Based Surgical Robots Market in 2020. Moreover, the market is expected to grow at X% CAGR to reach US$ X million by the year 2027.

By Application, the market is primarily segmented into

• Porthopedics
• Neurology
• Urology
• Gynecology
• Others

Based on application, the others segment dominated the market for AI-based surgical robots and accounted for the largest revenue share of X % in 2020. Other applications mainly include general surgeries, laparoscopy, and ophthalmology, and oncology surgeries. The factors contributing to the high revenue share of the segment include increasing abdominal and oncology-based surgical procedures, coupled with the rising prevalence of bre-ast cancer.

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By End User, the market is primarily segmented into

• Hospitals
• Ambulatory Surgical Centers

Based on the End User, The Hospital segment would display a significant growth rate during the  forecast period with a CAGR of X%. The large share of this application segment can primarily be attributed to the rising incidence of lifestyle diseases across the globe. In 2020, many hospitals are turning toward robot-assisted surgeries (RAS) for clearing the backlog of elective surgeries caused due to COVID-19. As per a Robotic Surgery and Urology consultant in India, there is an increase in the number of patients opting for robotic surgeries since the first wave of the pandemic.

AI-Based Surgical Robots Geographical Segmentation Includes:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Based on the estimation, United States dominated the North America AI-Based Surgical Robots market and is expected to grow at a CAGR of X% during the forecast period to reach the market value of US$ X Bn by 2027. The regional growth can be accredited to supportive demographic trends like the increasing geriatric population. A major segment of the geriatric population suffers from one or other types of chronic diseases that would act as a driver for the growth of the market. Moreover, the growth of the regional market would be propelled by favourable government regulations regarding AI-Based Surgical Robots.The United States AI-Based Surgical Robots Market is projected to grow with a significant CAGR in the forecast period.

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The major players targeting the market includes

• Accuray Incorporated
• Intuitive Surgical, Inc.
• Medtronic, plc
• Medrobotics Corporation
• Zimmer Biomet
• Stereotaxis, Inc.
• TransEnterix, Inc. (Asensus Inc.)
• Stryker Corporation
• Activ Surgical, Inc.
• Titan Medical, Inc.
• CMR Surgical, Inc.
• Smith and Nephew

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the AI-Based Surgical Robots Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the AI-Based Surgical Robots Market?
• Which factors are influencing the AI-Based Surgical Robots Market over the forecast period?
• What are the global challenges, threats, and risks in the AI-Based Surgical Robots Market?
• Which factors are propelling and restraining the AI-Based Surgical Robots Market?
• What are the demanding global regions of the AI-Based Surgical Robots Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of AI-Based Surgical Robots Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.