Published Year: 2023
Surgical Robotics Market - A Global and Regional Analysis: Focus on Type, Application, End User, and
The global surgical robotics market was valued at $8,705.3 million in 2022 and is anticipated...
Market Research Report
A quick peek into the report
Global Robotic Surgery Consumables Market Overview
The market was valued at $4.87 billion in 2023 and is expected to reach $15.61 billion by 2033, growing at a CAGR of 12.34% during the forecast period 2023-2033. The global robotic surgery consumables market is a dynamic and rapidly evolving sector. It has been witnessing double-digit growth, driven by continuous technological advancements in the fields of virtual reality, augmented reality, and surgical robots. Huge R&D investments by large healthcare players into innovating modern-day surgeries with increased adoption of robotic platforms are further contributing to the market growth.
Market Lifecycle Stage
The robotic surgery consumables market has been experiencing rapid growth and is expected to reach $15.61 billion by 2033. This phase reflects a mature stage in its lifecycle, driven by technological advancements, increased adoption of robotic surgical systems, and growing demand for minimally invasive procedures. Intensified competition among manufacturers and supportive regulatory policies further contribute to sustained market expansion, offering significant opportunities for industry players.
Industry Impact
The incorporation of robotic surgery consumables into the healthcare sector has brought about transformative changes, yielding numerous advantages. These consumables have notably heightened surgical precision and broadened the range of procedures achievable with greater accuracy and efficiency. Patients benefit from improved outcomes and quicker recovery times due to the less invasive nature of robotic-assisted surgeries, resulting in reduced hospital stays and post-operative discomfort. Furthermore, the adoption of robotic systems has boosted the overall productivity and effectiveness of operating rooms, enabling healthcare providers to serve more patients efficiently. Additionally, these systems have facilitated advancements in medical training, providing healthcare professionals with simulated environments to hone their skills in intricate surgical techniques. Despite the initial investment required, the long-term economic ramifications of robotic surgery consumables include cost reductions stemming from decreased complication rates and enhanced patient outcomes. Hence, the widespread integration of robotic surgery consumables has profoundly reshaped the landscape of contemporary healthcare, offering innovative solutions that elevate patient care and operational efficiency across diverse medical specialties.
Market Segmentation:
Segmentation 1: by Product Type
• Access and Facilitation Equipment
• End Effectors
• Closure
• Other Consumables
End Effectors to Dominate the Global Robotic Surgery Consumables Market (by Product Type)
The product type segment comprises end effectors, access and facilitation equipment, closures, and other consumables.
End effectors significantly contribute to a company's intellectual property. Many market leaders manufacture their end effectors, ensuring compatibility with their developed robotic surgery systems. Imitated instruments from third-party vendors may lead to severe consequences such as patient fatalities and increased risks. To address this issue, manufacturers design their instruments with pre-programmed IDs that are recognized by the robotic system's interface when attached. Imitated products lack recognition and are consequently unusable.
Market growth is anticipated to be fueled by the rising demand for smaller sizes to accommodate more complex surgeries. Extensive research and development efforts are directed toward refining the end effectors, including their materials and biocompatibility. Moreover, the market for end effectors in robotic surgeries is fiercely competitive, with Intuitive Surgical, Inc. holding a prominent position as the leading player.
Segmentation 2: by Application
• General Surgery
• Gynecology Surgical Procedure
• Urology Surgical Procedure
• Orthopedic Surgical Procedure
• Cardiology Surgical Procedure
• Head and Neck Surgical Procedure
• Other Surgical Procedure
General Surgery to Dominate the Global Robotic Surgery Consumables Market (by Application)
In 2022, the general surgery segment held the largest share of the global robotic surgery consumables market. The global landscape of healthcare robotics has been experiencing notable technological advancements, significantly influencing the methods of disease diagnosis and treatment. The utilization of robotic assistance in general surgeries empowers surgeons to execute intricate procedures with enhanced precision and flexibility. Robotic systems provide superior control over consumables used in robotic surgery, owing to the remarkable dexterity of the instruments. Despite the shorter duration of conventional manual general surgeries compared to robotic procedures, experimental evidence suggests that robotic-assisted general surgery could result in reduced blood loss and superior short-term outcomes. Examples of robotic-assisted surgical systems employing robotic surgery consumables for general surgery include the da Vinci Xi, Senhance Robotic System, and Versius Robotic System.
Segmentation 3: by End User
• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Others
Hospital End User Segment to Dominate the Global Robotic Surgery Consumables Market (by End User)
In 2022, the hospitals end user segment held the largest share of the global robotic surgery consumables market. Hospitals stand out as the primary purchasers of robotic surgery systems, making the most significant contribution to the consumption of related consumables. The growth in the adoption of robotic surgery systems has been propelled by key factors such as the increasing prevalence of chronic disorders and a growing geriatric population, leading to a rise in the annual number of procedures. A prevailing trend in the industry involves collaborations between major manufacturers of robotic surgery systems and consumables, as well as hospitals.
Segmentation 4: by Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
North America to Dominate the Global Robotic Surgery Consumables Market (by Region)
North America held the largest share of the robotic surgery consumables market in 2022, which can be attributed to the presence of leading companies in the field, such as Intuitive Surgical, Inc., Medtronic plc, and Stryker Corporation. Emerging players such as CMR Surgical (U.K.), Versius Surgical (U.K.), Transenterix, and Titan Medical are also gaining traction in the region.
Furthermore, the North America region has high market attractiveness for robotic surgery system and consumable manufacturers, which can be attributed to high patient acceptance of advanced surgical technologies as well as a substantially large and well-established healthcare industry. The U.S. is expected to be the major revenue-generating country in North America. The U.S. accounted for over 98% share of the total North America market for robotic surgery consumables in 2022.
Demand - Drivers, Restraints, and Opportunities
Market Drivers:
Rise in Adoption of Robotic Surgeries Driven by Growing Geriatric Population: In the last few years, robotic-assisted procedures have gained popularity over their conventional counterparts. Robotic-assisted procedures are becoming more common due to their various benefits, such as decreased blood loss, length of hospital stay, post-operative pain, and fewer post-operative complications. The geriatric population is most benefited from the robotic-assisted approach. According to a study published by the National Center for Biotechnology Information (NCBI) in 2018, titled “Is Robotic-Assisted Surgery Safe in the Elderly Population? An Analysis of Gynecologic Procedures in Patients ≥ 65 Years Old,” minimally invasive procedures are advantageous for the aging population with higher physical restriction, comorbidities, and are at higher surgical risk. In addition to this, another study published by NCBI in 2021, titled “Robotic versus Laparoscopic Colorectal Surgery in Elderly Patients in Terms of Recovery Time: A Monocentric Experience,” robotic colorectal surgery is associated with better recovery and shorter length of hospital stay when compared with the laparoscopic approach.
Market Restraints:
High Cost of Surgical Robotic Systems and Associated Procedures: The adoption of robotic-assisted surgical platforms faces a major hurdle in their high costs, requiring a substantial initial investment, often exceeding $2 million. Additional expenses, including consumables and surgical instruments, contribute to the overall expense. For instance, the da Vinci Xi 12 mm reusable Hasson Cone has been priced at $995 per unit, significantly higher than conventional/manual surgical instruments. This substantial cost has hindered the widespread adoption of robotic-assisted surgical platforms, particularly in developing countries.
Market Opportunities:
Development of Low-Cost Robotic Surgery Platforms: The emergence of low-cost robotic surgery platforms presents a lucrative opportunity for the consumables market. These platforms expand access to advanced surgical procedures, particularly in emerging markets, driving increased demand for associated consumables. Moreover, heightened competition fosters innovation in manufacturing processes, potentially leading to more affordable consumables. Overall, this trend not only broadens the adoption of robotic surgery but also stimulates growth and innovation within the consumables market.
Analyst View
According to Vaishali Chauhan, Lead Analyst at BIS Research, “The robotic surgery consumables market has been witnessing robust growth driven by increased adoption of robotic surgery systems across medical specialties. Technological advancements fuel innovation in consumables, addressing evolving surgical needs. However, pricing pressures and regulatory complexities pose challenges. Overall, the market presents promising opportunities for growth with sustained innovation and strategic expansion. In the next 10 years, the robotic surgery consumables market is expected to witness transformative growth, driven by the rising prevalence of chronic diseases and an upsurge in the development of AR/VR-powered medical devices for surgical applications. Ongoing research and increased R&D investments by key market players are further expected to contribute to the development of new products for robotic surgery consumables, thereby contributing to market growth.”
Robotic Surgery Consumables Market - A Global and Regional Analysis
Focus on Application, End-User, Product, Region, and Competitive Landscape - Analysis and Forecast, 2023-2033
Some Faq's
Frequently Asked Questions
Ans: Robotic surgery consumables encompass a range of disposable instruments, accessories, and maintenance supplies necessary for the operation and upkeep of robotic surgery systems. These consumables play a vital role during robotic-assisted surgical procedures, enabling precise and minimally invasive interventions across various medical specialties. They include surgical instruments, end effectors, trocars, sutures, drapes, cannulas, energy devices, and imaging systems, among others. Designed and optimized for compatibility with robotic surgery platforms, these consumables ensure the efficient and safe execution of surgical procedures.
Ans: The robotic surgery consumables market has witnessed several trends, and here are some key trends observed in this market:
- Key trends in the robotic surgery consumables market include the integration of advanced technologies and standardized protocols to enhance procedural efficiency and improve patient outcomes. There's a rising demand for specialized consumables optimized for compatibility with robotic surgery systems. Personalized surgical training programs, leveraging innovative simulation technologies, are empowering surgeons to refine their skills. Healthcare institutions are expanding into new surgical specialties, driven by technological advancements. These trends underscore the transformative potential of technological innovation in surgery, benefiting both patients and healthcare systems.
These are only a few illustrations of the major trends in the industry.
Ans: Existing players in the robotic surgery consumables market are adopting strategies such as product innovation, strategic partnerships, market expansion, acquisitions, cost-effectiveness, customer relationship management, and diversification to strengthen their market positions and drive growth in a competitive industry landscape.
Ans: For a new company entering the robotic surgery consumables market, staying ahead of the competition requires a strategic approach focused on innovation, differentiation, and customer-centricity. By prioritizing innovative product development tailored to specific surgical needs and applications, the company can create a unique value proposition. Strategic partnerships with established industry players and healthcare institutions provide access to resources, expertise, and distribution channels, facilitating market penetration. Maintaining a strong focus on customer relationships and providing exceptional support ensures customer satisfaction and loyalty. Market expansion efforts should target emerging markets and capitalize on growth opportunities. Investment in talent, technology, and regulatory compliance is essential for product quality, efficiency, and market readiness. By focusing on these areas, the new company can establish itself as a competitive player in the dynamic robotic surgery consumables market.
The following are some of the USPs of the report:
• Market Growth Potential
• Patent Analysis
• Regulatory Framework
• Market Dynamics
• Market Opportunities
• Detailed Segmentation based on Product Type and Application
• Region and Country-Level Market Size and Forecast for Product Type and Application
• Competitive Landscape
Ans: Healthcare institutions, medical device manufacturers, investors, regulatory authorities, and research institutions can buy this report.
Similar Product
You may also like