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AI-based Surgical Robots Market Size

Report ID: GMI10851
Published Date: Aug 2024
Report Format: PDF

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AI-based Surgical Robots Market Size

AI-based Surgical Robots Market size was valued at USD 5.7 billion in 2023 and is expected to exhibit growth at a CAGR of 16.2% from 2024 and 2032. The high market growth is primarily attributed to significant technological advancements, rise in number of surgical procedures and favorable government initiatives and funding among other factors.

AI-based Surgical Robots Market

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Minimally invasive procedures, which are less traumatic for patients and result in quicker recovery times, are driving the adoption of AI-based surgical robots, as they offer superior control and precision in these surgeries. For instance, as per the stats reported by Meritas Health, over 15 million laparoscopic surgeries are performed each year in the U.S. Further, AI-based surgical robots offer improved precision, reducing the risk of human error during surgery, leading to better patient outcomes, lower complication rates, and shorter hospital stays.

AI-based Surgical Robots Market Report Attributes
Report Attribute	Details
Base Year:	2023
AI-based Surgical Robots Market Size in 2023:	USD 5.7 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	16.2%
2024 – 2032 Value Projection:	USD 21.5 Billion
Historical Data for:	2021-2023
No. of Pages:	110
Tables, Charts & Figures:	150
Segments covered:	Type, Application, End-use and Region
Growth Drivers:	Increasing adoption of surgical robots Rising number of surgical procedures Growing integration of artificial intelligence in automated robotic surgeries Technological advancements Increasing prevalence of chronic diseases
Pitfalls & Challenges:	High cost of surgical robots Regulatory challenges and safety concerns

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Increased investment from both private companies and public institutions in the development of AI-based surgical technologies is accelerating market growth. Additionally, governments and healthcare organizations are increasingly funding AI and robotics research in healthcare, which is accelerating the development and adoption of AI-based surgical robots.

AI-based surgical robots refer to advanced robotic systems integrated with artificial intelligence (AI) technologies designed to assist surgeons in performing complex surgical procedures with enhanced precision, control, and efficiency.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global AI-based surgical robots industry was valued at USD 5.7 billion in 2023 and is expected to exhibit a CAGR of 16.2% from 2024-2032, attributed to significant technological advancements, rise in the number of surgical procedures, and favorable government initiatives.

The hardware segment of AI-based surgical robots industry was valued at USD 3.5 billion in 2023, owing to the emphasis on improving surgical outcomes and reducing complications through advanced imaging systems.

North America AI-based surgical robots market accounted for USD 3.8 billion in 2023 and will record a CAGR of 14.9% between 2024-2032, due to the rise in volume of surgical procedures performed, backed by an aging population.

Asensus Surgical US, Inc., CMR Surgical, Inc., Intuitive Surgical, Inc., Medtronic plc, meerecompany Inc., Moon Surgical, Smith and Nephew, Stryker Corporation, and Zimmer Biomet among others.