Robotic Surgery Consumables Market Size was valued at USD 5.0 Bn in 2023 and is predicted to reach USD 12.3 Bn by 2031 at a 12.06% CAGR during the forecast period for 2024-2031.
The integration of robotic surgery consumables into the healthcare sector has instigated transformative shifts, offering manifold advantages. These consumables have significantly elevated surgical precision, expanding the repertoire of procedures achievable with enhanced accuracy and efficacy. Patients reap the benefits of improved outcomes and expedited recovery periods, courtesy of the minimally invasive nature of robotic-assisted surgeries, reducing hospital stays and post-operative discomfort. Furthermore, the adoption of robotic systems has bolstered operating rooms' overall efficiency and productivity, empowering healthcare providers to cater to a larger patient population efficiently.
Moreover, the emergence of cost-effective robotic surgery platforms presents a lucrative opportunity for the consumer market. These platforms widen access to advanced surgical procedures, particularly in emerging markets, driving escalated demand for associated consumables. Additionally, intensified competition stimulates innovation in manufacturing processes, potentially leading to more accessible consumables. Overall, this trend not only amplifies the adoption of robotic surgery but also catalyzes growth and innovation within the consumer market.
Competitive Landscape
Some of the Major Key Players in the Robotic Surgery Consumables Market are
- Johnson & Johnson (Auris Health, Inc.)
- Intuitive Surgical, Inc.
- Medtronic plc. (Mazor Robotics)
- Zimmer Biomet Holdings (Medtech SA)
- Renishaw plc.
- Venus Concept (Restoration Robotics, Inc.)
- Smith & Nephew plc.
- Stereotaxis, Inc.
- Stryker Corporation (Mako Surgical Corporation)
- THINK Surgical, Inc.
- CMR Surgical Ltd.
- Meerecompany, Inc.
- Virtual Incision Corporation
- Asensus Surgical US, Inc. (Transenterix, Inc.)
- Other Prominent Players
Market Segmentation:
The robotic surgery consumables market is segmented on the basis of product type, application and end-user. Based on product type, the market is segmented as end effectors, access and facilitation equipment, closures, and other consumables. By application, the market is segmented into general surgery, gynecology surgical procedure, urology surgical procedure, orthopedics surgical procedure, cardiology surgical procedure, head and neck surgical procedure, and other surgical procedures. By end-user, the market is segmented into hospitals, ambulatory surgical centers (ASCs) and others.
Based on Application, the General Surgery Segment is Accounted as a Major Contributor to the Robotic Surgery Consumables Market
The global robotic surgery consumables market saw the general surgery segment holding the largest share. Notably, the landscape of healthcare robotics has witnessed significant technological advancements, profoundly influencing disease diagnosis and treatment methods. Integrating robotic assistance in general surgeries empowers surgeons to perform intricate procedures with heightened precision and flexibility. Robotic systems offer superior control over consumables used in robotic surgery, attributed to the remarkable talent of the instruments. Despite the generally shorter duration of conventional manual general surgeries than robotic procedures, empirical evidence suggests that robotic-assisted general surgery could lead to reduced blood loss and superior short-term outcomes. The da Vinci Xi, Senhance Robotic System, and Versius Robotic Systems are examples of robotic-assisted systems utilising robotic surgery consumables for general surgery.
The Hospital Segment Witnessed Growth at a Rapid Rate
The hospital segment emerged as the dominant end-user in the global robotic surgery consumables market. Hospitals notably lead in the acquisition of robotic surgery systems, consequently driving substantial consumption of related consumables. The surge in the adoption of robotic surgery systems can be attributed to significant factors like the escalating prevalence of chronic ailments and the expanding elderly demographic, resulting in a higher volume of annual procedures. A prominent industry trend involves collaborations among major manufacturers of robotic surgery systems and consumables, as well as hospitals.
In the Region, the North America Robotic Surgery Consumables Market Holds a Significant Revenue Share
The North American region presents significant market appeal for manufacturers of robotic surgery systems and consumables, owing to the widespread acceptance of advanced surgical technologies among patients and the presence of a robust and expansive healthcare industry. Within North America, the United States is anticipated to emerge as the primary revenue-generating country. The increasing prevalence of chronic diseases and the need for advanced surgical procedures are contributing to the growth of the robotic surgery consumables market in APAC. Additionally, supportive government initiatives, favorable reimbursement policies, and collaborations between healthcare providers and technology companies are further driving regional market expansion.
Recent Developments:
- In August 2023, Stryker launched a direct patient marketing campaign aimed at enhancing patient engagement and education. The campaign is designed to reach patients directly & provide information about Stryker's innovative medical solutions, focusing on joint replacement procedures.
- In January 2022, Smith & Nephew acquired Engage Surgical, which is involved in manufacturing cementless knee systems in the U.S. This acquisition improved its position in meniscal tear solutions and other knee arthroscopy devices.
- In January 2021, DePuy Synthes (Johnson & Johnson) received FDA approval for its VELYS robotic system, improving its offerings with the ATTUNE TOTAL knee system.
Robotic Surgery Consumables Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5.0 Bn |
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Revenue Forecast In 2031 |
USD 12.3 Bn |
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Growth Rate CAGR |
CAGR of 12.06% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product Type, By Application, By End-user, and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Johnson & Johnson (Auris Health, Inc.), Intuitive Surgical, Inc., Medtronic plc. (Mazor Robotics), Zimmer Biomet Holdings (Medtech SA), Renishaw plc., Venus Concept (Restoration Robotics, Inc.), Smith & Nephew plc., Stereotaxis, Inc., Stryker Corporation (Mako Surgical Corporation), THINK Surgical, Inc., CMR Surgical Ltd., Meerecompany, Inc., Virtual Incision Corporation, and Asensus Surgical US, Inc. (Transenterix, Inc.). |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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