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Surgical Robots Market to Grow by USD 14.02 Billion (2024-2028), Rising Adoption for Convenience Drives Growth, Report on AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global surgical robots market size is estimated to grow by USD 14.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.17% during the forecast period. High adoption due to convenience is driving market growth, with a trend towards high demand from developing countries. However, cost and affordability associated with surgical robots poses a challenge.Key market players include Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Johnson and Johnson Services Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc, United Orthopedic Corp., Virtual Incision, and Zimmer Biomet Holdings Inc..

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Surgical Robots Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 27.17%

Market growth 2024-2028

USD 14021.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.98

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 37%

Key countries

US, UK, Germany, China, and Japan

Key companies profiled

Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Johnson and Johnson Services Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc, United Orthopedic Corp., Virtual Incision, and Zimmer Biomet Holdings Inc.

Market Driver

Surgical robots are revolutionizing the healthcare industry with their precision and minimally invasive capabilities. The market for surgical robots is growing, particularly in the outpatient and ambulatory surgery segments. HD cameras and automated instruments are key trends in this market, enabling surgeons to perform complex procedures with greater accuracy. The urological surgery segment is a major contributor, with a high demand for robotic assistance in procedures like prostatectomies and nephrectomies. General surgery, gynaecological surgery, neurosurgery, and oncology segments also show strong growth. Surgical robots are increasingly being used in ambulatory surgery centers and clinics, reducing the need for inpatient facilities. Medicare coverage and the rising number of surgical errors have fueled the adoption of these systems. Orthopedic surgeries for bone degenerative diseases like arthritis, osteoporosis, hip replacement surgeries, and knee replacement surgeries are common applications. Minimally invasive techniques are preferred due to faster recovery times and smaller scars. Surgical robotic systems are being used for a wide range of procedures, from cardiac surgery and cataract surgery to neurosurgeries and cancer treatment procedures. The market for instruments and accessories is also growing. The future of surgical robots lies in miniaturization and the ability to perform complex procedures with greater precision. Healthcare providers are investing in these systems to improve patient outcomes and reduce costs. 

Surgical robotics technology is experiencing significant growth in demand, particularly in developing countries. Healthcare systems in these regions aim to improve patient outcomes and enhance healthcare services. Developing countries, such as India and Brazil, often face a shortage of specialized surgeons. Surgical robots offer a solution by providing a platform for training and skill development. These systems include simulation capabilities, enabling surgeons to practice complex procedures in a controlled environment, thereby improving their proficiency and delivering better patient care. 

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 Market Challenges

Surgical robots have revolutionized the healthcare industry, particularly in areas like urological, general, and gynaecological surgeries. However, challenges persist. HD cameras and miniaturization are key advancements, but costs remain high. Outpatient surgery and ambulatory surgery centers are growing, but Medicare reimbursement policies need clarification. Surgical errors are a concern, especially in complex procedures like neurosurgeries and oncology. The U.S. Market for surgical robots is expanding, driven by orthopedic surgeries for bone degenerative diseases like arthritis and osteoporosis. Replacement rates for hip and knee surgeries are increasing, with primary hip replacement and primary knee replacement being common procedures. Physicians and surgeons are adopting automated instruments for minimally invasive surgeries, benefiting adults with chronic diseases like cancer. Instruments and accessories for soft tissues and bones are in demand, as are surgical robotic systems for laparoscopy and general surgical procedures. The outpatient segment, including ambulatory surgical centers and surgical centers, is growing, shifting focus from inpatient facilities. Traditional surgery techniques face competition from minimally invasive ones, with brain surgeries and neurological disorders being key areas of development. Surgical intervention for cardiac surgery, cataract surgery, hernia repair, cholecystectomy, adrenalectomy, small bowel resection, and rectal prolapse are all potential applications. The future of surgical robots lies in continuous innovation and collaboration between healthcare providers and technology companies.Surgical robots have become a notable trend in healthcare, offering enhanced capabilities for surgical procedures. However, the financial aspect of acquiring and maintaining these robotic systems is a substantial challenge in the market. The initial investment for purchasing and installing surgical robots, as well as ongoing expenses for staff training, maintenance, and instrument sterilization, can be substantial. Regular maintenance is crucial for optimal performance and longevity, involving inspections, software updates, and equipment calibration, which may result in additional costs, such as service contracts or technician fees.

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Segment Overview 

This surgical robots market report extensively covers market segmentation by

Application 1.1 General and laparoscopy surgery1.2 Gynecological surgery1.3 Orthopedic surgery1.4 Neurosurgery1.5 Urology and othersEnd-user 2.1 Hospitals2.2 Ambulatory service centersGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 General and laparoscopy surgery- Surgical robots have significantly increased in popularity for both general and laparoscopic surgeries due to their numerous advantages. According to the World Health Organization, approximately 200-400 million surgical procedures are performed globally each year. These robots offer surgeons enhanced precision and visualization, enabling them to perform complex procedures with minimal scarring, shorter hospital stays, and quicker recovery times. Equipped with advanced instruments like articulated robotic arms and high-definition cameras, surgical robots provide surgeons with a magnified 3D view of the surgery site and improved instrument maneuverability. Furthermore, integration with technologies like augmented reality offers surgeons a more detailed understanding of patient-specific anatomical details. The adoption of surgical robots is projected to boost the growth of the general and laparoscopic surgery market during the forecast period.

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Research Analysis

Surgical robots are advanced medical devices that enable HD cameras and automated instruments to perform precise and minimally invasive surgeries. These robots are increasingly being used in outpatient surgery and ambulatory surgery centers for various procedures, including orthopedic surgeries for bone degenerative diseases like arthritis, osteoporosis, hip replacement, and knee replacement surgeries for joints affected by osteoarthritis. Chronic diseases such as cardiac conditions, cancer, and cataracts are also treated with surgical intervention using surgical robots. The use of surgical robots reduces surgical errors, enhances precision, and improves patient outcomes. Medicare and other healthcare providers are recognizing the benefits of these technologies, leading to increased adoption. Instruments and accessories for soft tissues and bones are also available for these robots to expand their capabilities.

Market Research Overview

Surgical robots are advanced medical devices that enable doctors to perform complex surgeries with greater precision and control. These robots, equipped with HD cameras and automated instruments, are increasingly being used in outpatient and ambulatory surgery settings, including ambulatory surgery centers and clinics. Medicare and other healthcare providers are recognizing the benefits of surgical robots, such as reduced surgical errors, shorter hospital stays, and faster recovery times. The urological surgery segment is a significant market for surgical robots, with applications including prostatectomies, nephrectomies, and cystectomies. General surgery, gynaecological surgery, neurosurgery, and oncology are other major application areas. Surgical robots are used in various types of surgeries, including orthopedic surgeries for bone degenerative diseases like arthritis and osteoporosis, hip replacement surgeries, and knee replacement surgeries. Surgical robots are also used in minimally invasive procedures for soft tissues and abnormal structures, such as hernia repair, cholecystectomy, adrenalectomy, and small bowel resection. The market for surgical robots is expected to grow significantly due to the increasing rate of primary hip replacement and primary knee replacement surgeries, as well as the growing number of chronic diseases affecting adults, such as cardiac conditions and cancer. The miniaturization of surgical robotic systems is also driving growth in the market, as these systems can be used in outpatient segment surgical centers and healthcare facilities, reducing the need for inpatient facilities. Traditional surgery techniques are being replaced by minimally invasive techniques, such as laparoscopy, which offer less scarring and faster recovery times. The neurology segment, including neurosurgeries for neurological disorders, is also a growing market for surgical robots. The use of surgical robots in cancer treatment procedures, such as brain surgeries, is expected to drive significant growth in the market. Instruments and accessories are also a significant part of the surgical robots market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationGeneral And Laparoscopy SurgeryGynecological SurgeryOrthopedic SurgeryNeurosurgeryUrology And OthersEnd-userHospitalsAmbulatory Service CentersGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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AVAILABILITY OF ANNUAL GENERAL AND SPECIAL MEETING MATERIALS AND ALTERNATIVE VOTING PROCEDURES

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51 minutes ago

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November 27, 2024

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TSXV – AGAG

VANCOUVER, BC, Nov. 26, 2024 /CNW/ – Argenta Silver Corp. (TSXV: AGAG) (“Argenta” or the “Company”) announces that, due to the current delays and suspension of mail service in Canada due to the nationwide strike of the Canadian Union of Postal Workers that commenced on November 15, 2024 (the “Postal Strike”), the notice of meeting and information circular (the “Meeting Materials”) for its upcoming annual and general special meeting being held on Tuesday December 17, 2024 (the “Meeting”) have not yet been mailed, but have been posted and are accessible on the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.argentasilver.com.  Shareholders of the Company are encouraged to access the Meeting Materials directly through the above-mentioned websites, or may contact the Company’s transfer agent, Computershare Trust Company of Canada (“Computershare”) toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com to request copies of the Meeting Materials. In the event that the Postal Strike ends prior to the Meeting, the Company will mail the Meeting Materials in the normal course, but there can be no assurance that the Meeting Materials will be received by the shareholders prior to the Meeting.  The Company is in the process of evaluating its options with respect to relief from the mailing requirements for the Meeting Materials and will provide an update if and when such relief is granted.

How Registered Shareholders Can Vote

Registered shareholders are shareholders who hold their shares directly in the Company, and not through a brokerage account or depository company. The Company is advised that registered shareholders may submit their votes by proxy by completing the form of proxy available on the Company’s SEDAR+ profile or on the Company’s website (both linked above) and sending the completed proxy to Computershare by email at service@computershare.com. Registered shareholders who require assistance submitting their votes by proxy may contact Computershare toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com.

How Beneficial Shareholders Can Vote

Beneficial shareholders are shareholders who hold their investment through a brokerage house, depository company or other intermediary.  Beneficial shareholders should contact their brokerage house or depository company or other intermediary and ask to obtain their voting control number and the steps of how to vote, which could include internet voting, completing a form of proxy and emailing it, directing your broker over the phone on how you wish to vote or some other method as described by your brokerage house or depository company.

Financial Statements and MD&A

Copies of the Company’s annual financial statements and related management discussion and analysis for the year ended December 31, 2023, as well as interim financial statements and related management discussion and analysis for the quarterly periods ended March 31, 2024 and June 30, 2024  (collectively, the “Financial Statements and MD&A”) have been filed and are available on the Company’s SEDAR+ profile at www.sedarplus.ca.

The Company will provide physical copies of the Financial Statements and MD&A to securityholders upon request by phone at 604-609-6100 or email at mborthwick@fiorecorporation.com.  Following the conclusion of the Postal Strike, shareholders requesting Financial Statements and MD&A will be delivered those documents in the ordinary course.

About Argenta Silver Corp.

Argenta Silver Corp. is a focused silver exploration company committed to advancing projects that support the global energy transition. Our mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions across Latin America. Led by an experienced management team with deep expertise in exploration, finance, and project development, Argenta takes a disciplined, strategic approach to growth. With a strong emphasis on responsible mining practices, we are well-positioned to meet the rising demand for silver—a critical metal in renewable energy and emerging technologies—while building a lasting and successful company.

On behalf of Argenta Silver Corp.

“Geir Liland”      

Chief Executive Officer

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Argenta Silver Corp.

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Auriemma Group Uncovers Whether Stored Value Accounts are a Replacement to Traditional Banking

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November 27, 2024

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The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

NEW YORK, Nov. 26, 2024 /PRNewswire-PRWeb/ — The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.

SVAs offered by providers like PayPal and Venmo allow consumers to preload or receive funds and use them for a variety of transactions. Auriemma’s research shows that 61% of debit cardholders view SVAs as at least complementary to traditional banking, while 31% believe these accounts could replace at least some banking functions. Notably, 8% feel SVAs could entirely replace traditional banking services.

“Stored value accounts represent an important evolution in financial tools, but the collapse of Synapse underscores the risks of fintech intermediaries not covered by the FDIC,” says Jonathan O’Connor, Senior Manager of Research at Auriemma Group. “While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.”

What Can Traditional Banks Do?

SVAs are causing a modest stir among cardholders. Less than three-in-ten say they would be likely to use the option if offered by a FinTech provider. However, as SVAs grow in popularity, traditional banks can differentiate themselves by doubling down on their strengths and addressing evolving consumer needs. Auriemma’s research highlights several strategies banks can use to endear themselves to current and potential customers:

Building Trust: Traditional banks should emphasize their strong track record of security—including FDIC backing—and fraud prevention. Providing clear, transparent policies and educating customers about safeguards can build trust that SVAs may not yet fully inspire.
 Enhanced Digital Experiences: Streamlining mobile and online banking interfaces can help banks compete with the tech-first approach of FinTechs. User-friendly apps with integrated budgeting tools, instant payments, and easy account management could make a significant difference.
 Personalized Financial Products: Banks can leverage their broad customer data to offer tailored financial products, such as personalized savings plans or rewards programs that align with individual spending habits.
 Bundled Offerings: By packaging SVAs with more traditional banking services—like high-yield savings accounts, credit cards, and loans—banks can create holistic financial solutions that FinTechs may struggle to match.

Opportunities for Growth

Most of those who have used a SVA with a FinTech provider say they would likely use more of that provider’s products, if available. This highlights the possibility of expansion SVAs create for those who use them. While largely benefiting FinTechs hoping to expand into other financial services, SVAs could also be a gateway for traditional banks hoping to deepen their relationship with new and existing customers.

“Traditional banks have the advantage of deep customer relationships, established financial stability, and the trust that comes with rigorous regulatory oversight. By leaning into these strengths and innovating alongside FinTechs, banks can remain central to their customers’ financial lives,” says O’Connor.
“Our research shows that the future of banking will likely blend the reliability of traditional institutions with the agility and accessibility of modern FinTech solutions, creating a dynamic ecosystem that meets a diverse set of consumer needs.”

Media Contact

Jonathan O’Connor, Auriemma Group, 1-646-437-6116, jonathan.oconnor@acg.net, www.auriemma.group

View original content:https://www.prweb.com/releases/auriemma-group-uncovers-whether-stored-value-accounts-are-a-replacement-to-traditional-banking-302316988.html

SOURCE Auriemma Group

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6D Technologies Recognized as ‘Best of IT Service Excellent Gold Partner of the Year’ at Smartfren Awards 2024

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November 27, 2024

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BENGALURU, India, Nov. 27, 2024 /PRNewswire/ — 6D Technologies is honored to announce its receiving of the ‘Best of IT Service Excellent Gold Partner of the Year’ at the prestigious Smartfren Awards 2024. This recognition highlights 6D Technologies’ relentless commitment to delivering innovative and impactful IT solutions that drive success for Smartfren and its customers.

6D Technologies’ partnership with Smartfren spans multiple years of collaboration, innovation, and shared growth. By consistently delivering customized solutions and exceptional service, 6D Technologies and Smartfren have become trusted partners in their journey of digital transformation. 

“We are incredibly proud to be recognized as the ‘Best of IT Service Excellent Gold Partner of the Year’. This award reflects our commitment to fostering strong partnerships and providing groundbreaking solutions that empower our clients to lead in a digital-first world. Thank you, Smartfren, for this esteemed recognition. Together, we continue to set benchmarks for innovation and excellence!” said Abhilash Sadanandan, Co-Founder and CEO of 6D Technologies. 

About Smartfren Awards

The Smartfren Awards celebrate outstanding achievements and partnerships that propel the company’s mission of innovation and excellence. This annual event acknowledges the critical contributions of partners who share a vision for driving progress and enriching customer experiences. 

About 6D Technologies

6D Technologies is a global leader in digital transformation solutions, offering cutting-edge technologies in areas like digital BSS, AI, IoT, Digital Financial Solutions, and more. With a customer-first approach and a proven track record, 6D Technologies empowers enterprises to navigate the complexities of today’s digital landscape and achieve sustainable growth.

 

SOURCE 6D Technologies

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