Global Urology Robotic Surgery Market, By Component (Robotic Surgery Systems, Instruments and Accessories, Services), Equipment Type (Robot Machines, Navigation Systems, Planners and Simulators, Other Equipment), Application (Robotic Prostatectomy, Robotic Cystectomy, Robotic Pyeloplasty, Robotic Nephrectomy, Other Procedures) – Industry Trends and Forecast to 2030.
Urology robotic surgery Market Analysis and Size
The increasing incidence of degenerative bone diseases is leading to the growth of the market. The major market players primarily focus on technological development and launch advanced and next-generation robotic instruments to hold their strong position in the market. The growing investments by the regional and international market players in the introduction of new and technologically advanced surgical robots are also majorly impacting the market growth.
Data Bridge Market Research analyses a growth rate in urology robotic surgery market in the forecast period 2023-2030. The expected CAGR of urology robotic surgery market tend to be around 19.80% in the mentioned forecast period. The market was valued at USD 5.04 billion in 2022, and it would grow upto USD 21.41 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Urology robotic surgery Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Robotic Surgery Systems, Instruments and Accessories, Services), Equipment Type (Robot Machines, Navigation Systems, Planners and Simulators, Other Equipment), Application (Robotic Prostatectomy, Robotic Cystectomy, Robotic Pyeloplasty, Robotic Nephrectomy, Other Procedures)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Intuitive Surgical (U.S.), THINK Surgical (U.S.), Stryker (U.S.), Renishaw plc (U.S.), Medtronic (Ireland), Titan Medical Inc.(Canada), Asensus Surgical US, Inc.(U.S.), AVRA Medical Robotics, Inc (U.S.), Surgical Science Sweden AB (Israel)
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Market Opportunities
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Market Definition
Urology robotic surgery is a type of surgery that uses robots to perform urology surgeries. These robotic surgeries are established to increase the procedure guidance, enhance the workflows, and collaboration during different surgical procedures. These robots aim to increase the efficiency and minimize complications and time of urological surgeries. The precision of robotic technology is appropriate for complex and delicate urological surgeries since it is minimally invasive.
Urology robotic surgery Market Dynamics
Drivers
- Increased Prevalence of Bone Degenerative Diseases
The increasing incidence of bone degenerative diseases and the growing number of hip and knee replacement surgeries are the major factors expected to boost the market growth. For instance, as per the Agency for Healthcare Research and Quality report, more than 4,50,000 hip replacement surgeries are performed every year in the U.S. In addition to this, according to the Australian Institute of Health and Welfare (AIHW) data, the total knee replacement rate for osteoarthritis has been increased by around 38% from 2005-2006 to 2017-2018. Thus, these diseases demand the robotic surgeries and thus increases the market growth.
- Increasing Strategic Initiatives by Market Players
Numerous industrial strategic initiatives by major market players are expected to incraese the market growth over the years. For instance, Ethicon, a subsidiary of Johnson and Johnson, acquired Auris Health, in 2019, which is a developer of a robotic technology platform. This acquisition was done with a goal of supporting the increase of Ethion’s digital surgery portfolio to protect lung cancer. In addition to this, in 2019, Stryker corporation, acquired OrthoSpace, Ltd., which has helped in expanding the company’s surgical equipment portfolio. Thus, such industrial initiatives are expected to boost the adoption of robots and the growth of the market.
Opportunities
- Increased Adoption of Robots in Surgeries
The increasing adoption of robots in neurosurgeries due to benefits provided by surgical robots than traditional techniques of surgery is expected to increase the growth of the market. Furthermore, technological advancements, along with successful outcomes from robotic neurosurgery, are anticipated to boost the growth of the market. Increasing usage of automated robotic instruments in brain surgeries is also anticipated to boost the market. For instance, as per an article published in Robotics Industries Association (RIA), 5G technology and robotic assistance were used to carry out brain surgery in 2019. Thus, this factor boosts the market growth.
- Rising Regulatory Approvals from Organizations
Grwoing regulatory approvals for the robots majorly used in surgery is one of the major factors aiding the market growth. For instance, Intuitive Surgical Inc’s Ion robotic surgical system received 510(k) FDA clearance in 2019. Furthermore, the increasing adoption of assisted surgeries such as hysterectomies, the growing number of robotic systems for surgical interventions, and constant investments and RandD activities associated with automated robotic systems by different manufacturers are the major factors boosting the market growth.
Restraints/Challenges
- Side Effects of Urology robotic surgery
There are varied adverse effects associated with Urology robotic surgery which impede the market growth. Common side effects include infection, blood clotting, bleeding, heart attack, hernias, impotence, permanent urinary incontinence, and strictures. This increasing side effects will obstruct the market growth.
This urology robotic surgery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the urology robotic surgery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Urology Robotic Surgery Market
During the COVID-19 pandemic, a major decrease in robot adoption has been noticed during 2020 as compared to 2019. This is because of the reduction in surgical procedures and lack of manpower in the manufacturing facilities. However, in the post pandemic era, increasing demand for automated instruments with high accuracy and having less human effort for surgical applications is anticipated to increase the market growth during the forecast period. Furthermore, a rising trend has been witnessed in automated instrument adoption. This may be because of the COVID-19 pandemic, during which people have become more aware of the life-threatening viral infections and chances of contamination.
Recent Developments
- In 2021, Medtronic acquired Digital Surgery, which is a privately-owned surgical AI company specifying in data analytics, digital education, and training. Through this acquisition, Medtronic aims at boosting its robot-assisted surgical platform and expanding its robotic system portfolio with the addition of a new robot named Hugo.
Global Urology Robotic Surgery Market Scope
The urology robotic surgery market is segmented on the basis of component, equipment type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Robotic Surgery Systems
- Instruments and Accessories
- Services
Equipment Type
- Robot Machines
- Navigation Systems
- Planners and Simulators
- Other Equipment
Application
- Robotic Prostatectomy
- Robotic Cystectomy
- Robotic Pyeloplasty
- Robotic Nephrectomy
- Other Procedures
Urology Robotic Surgery Market Regional Analysis/Insights
The urology robotic surgery market is analyzed and market size insights and trends are provided by component, equipment type and application as referenced above.
The major countries covered in the urology robotic surgery market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific has been witnessing a positive growth for urology robotic surgery market throughout the forecast period due to the increasing patient population and growing adoption of advanced automated surgical instruments. In addition to this, rising awareness to adopt advanced medical technology, along with modern healthcare facilities, is expected to enhance the market growth in this region.
North America dominates the market due to growing next-generation healthcare facilities in the U.S., combined with the adoption of automated surgical instruments. Furthermore, the growing number of chronic disorders such as diabetes, cancer, and cardiovascular diseases in the U.S. is increasing the adoption of automated surgical equipment, which, in turn, is boosting the market in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Urology Robotic Surgery Market Share Analysis
The urology robotic surgery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related urology robotic surgery market.
Key players operating in the urology robotic surgery market include:
- Intuitive Surgical (U.S.)
- THINK Surgical, Inc (U.S.)
- Stryker (U.S.)
- Renishaw plc (U.K)
- Medtronic (Ireland)
- Titan Medical Inc. (Canada)
- Asensus Surgical US, Inc. (U.S.)
- AVRA Medical Robotics, Inc (U.S.)
- Surgical Science (Israel)
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