The global healthcare system is becoming smart with emerging technologies such as artificial intelligence (AI) and machine learning (ML). Surgical systems are becoming more advanced, enhancing workflows and achieving precise clinical outcomes. Surgical robotic systems are being used to make surgeries safer, more accurate, and less invasive for patients.
The Asia-Pacific region is gaining prominence as a market with increasing per capita income and notable progress in developing surgical robotics technology. This region encompasses Australia, New Zealand, Japan, China, India, South Korea, Taiwan, Thailand, Singapore, Malaysia, Indonesia, the Philippines, and others. Japan leads the way in market share, with China and India following closely behind among these countries.
According to the BIS Research market intelligence report, the APAC surgical robotics market was valued at $1.35 billion in 2021 and is expected to reach $4.93 billion by the end of 2032, registering a CAGR of 11.60% during the forecast period 2022-2032. Regulatory advancements, ongoing research, and collaboration between industry leaders contribute to the growth of surgical robotics in the APAC region.
The growth of the surgical robotics market in the Asia-Pacific region is projected to be significantly fueled by the rise in household disposable income. The region's robust economic expansion is expected to be a pivotal factor driving market growth. The average selling price (ASP) for surgical robots in the Asia-Pacific area is predicted to decrease relative to other regions due to local companies competing with Intuitive Surgical, Inc. by offering more affordable models.
Nevertheless, the region faces a substantial challenge due to the elevated expenses related to surgeries and the need for well-trained professionals. Moreover, the limited availability of training institutes and programs impedes the increased adoption of surgical robots.
BIS Research report on the APAC surgical robotics market covers the segments: type, application, and country. The instruments and accessories segment dominated the market by type in 2021, and this trend is expected to persist throughout the forecast period from 2022 to 2032. Moreover, there is a significant projected growth in the market share of the services segment, with an estimated Compound Annual Growth Rate (CAGR) of 12.74% over the forecast period from 2022 to 2032. The urology surgery segment commanded the most significant portion of the market by application in 2021, and this pattern is expected to persist throughout the forecast period spanning from 2022 to 2032.
Japan leads the APAC surgical robotics market, as most established companies are here. Moreover, China's share is projected to increase from 27.44% in 2021 to 29.04% by 2032 by the end of the forecast period.
Key players in the APAC surgical robotics market include Medicaroid Corporation, meerecompany Inc., Articulus Surgical, KAIST Future Medical Robotics Research Center, and MicroPort Scientific Corporation. Notably, MicroPort Scientific Corporation specializes in the orthopedic application of surgical robotics in the Asia-Pacific region. Other domestic companies that offer robotic systems for orthopedic, spinal, and neurological surgeries include Curexo, Inc., Tinavi Medical Technologies, and Koh Young Technology.
Robotic surgery's applications are expanding beyond the operating room, facilitated by advancements in optics and computer science for 3D organ visualization during procedures. Growing demand for minimally invasive robotic surgery is driven by multi-tool use through multiple access points. Integrating AI into surgical robotics aims to improve safety productivity and reduce errors, paving the way for autonomous surgical robotics.
The APAC surgical robotics market report offers unique selling points (USPs), such as an in-depth competitive analysis of major market players, providing a comprehensive overview of the APAC surgical robotics market. It examines the market's economic influence and highlights notable end-user industry advancements. The report conducts a thorough supply chain and pricing analysis. It also delves into the investment landscape, assessing product adoption trends and patents. These features make the report valuable for understanding APAC Surgical robotics's dynamics and opportunities.
BIS healthcare analyst suggests: "Integrating artificial intelligence (AI) into surgical robotics offers companies the potential to enhance safety, productivity, and time efficiency. AI aims to reduce or eliminate human error risks. Ongoing endeavors to merge AI with surgical robotics herald a new era of autonomous systems, focused on optimizing surgical outcomes and improving patient care."
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