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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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A Report shows that stablecoins will be crucial for advancing Hong Kong’s position as a leading Web3 hub. Regulations are the key to mass adoption.

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November 27, 2024

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HONG KONG, Nov. 27, 2024 /PRNewswire/ — Quinlan & Associates and IDA Finance Hong Kong Limited (“IDA”) have co-published a thought leadership report that explores the potential for regulated stablecoins to evolve into trusted legal tender, gaining widespread acceptance for real-world applications, especially local and cross-border payments.

Report link: https://www.quinlanandassociates.com/from-digital-currency-to-legal-tender/ 

The report, titled, From Digital Currency to Legal Tender: The Role of Regulated Stablecoins in Driving Real-world Payments, examines the current stablecoin landscape, where usage remains largely within the Web3 ecosystem. The report also presents a forward-looking vision for a model stablecoin to be widely adopted in everyday real-world applications. A regulated and non-captive stablecoin is expected to offer robust user protection and foster trust, moving beyond the confines of the Web3 space into mainstream financial systems.

In today’s digital asset environment, stablecoins have gained immense popularity for their ability to maintain a stable representation of fiat currency values. “Paired with blockchain-enabled favourable features such as programmability, stablecoins can offer cost efficiency, enhanced transparency, 24/7 availability, and faster processing that traditional financial systems simply can’t match,” said Lawrence Chu, Co-Founder and CEO of IDA. “Due to these features, we see tremendous potential for stablecoins to play a pivotal role in the real-world financial economy.”

To capitalise on this potential, an increasing number of non-Web3 companies have begun issuing their own stablecoins. PayPal, a leading global online payment provider, has launched PYUSD, while Sony Bank is preparing to release a yen-backed stablecoin on the Polygon blockchain. Despite the growing supply, widespread adoption among merchants and consumers in the real economy remains limited.

“Although paying for goods online with digital currencies can be cheaper than using typical payment methods like e-wallets or credit cards, many users hesitate,” explained Benjamin Quinlan, CEO and Managing Partner of Quinlan & Associates. “This reluctance is largely driven by regulatory uncertainty, with 81% of merchants citing it as the primary barrier to accepting digital assets like stablecoin as a mainstream payment option.”

As a result, real-world applications of stablecoins exhibit limited utility.

“While prominent consumer brands such as Tag Heuer and Adidas have begun accepting crypto payments, they typically convert these transactions into fiat currency through third-party processors. This practice diminishes the potential advantages of using stablecoins, as merchants ultimately receive fiat rather than realising the benefits of digital assets,” continued Mr. Quinlan. “On top of this, the stablecoins issued by many financial institutions tend to remain confined within their own ecosystems, otherwise referred to as ‘walled gardens’.”

The report states the case for a trusted regulated, non-captive stablecoin to unlock wider real-world applications, starting from payments. The introduction of stablecoins has the potential to revolutionise Hong Kong’s domestic payment landscape, which currently faces high fees, inflexible options for users, and slow settlement times for merchants.

“Aligned with Hong Kong’s digital economy agenda, as outlined in the policy address, and push for regulated stablecoins, we believe their adoption can accelerate progress in this area,” stated Sean Lee, Co-Founder and Chief Strategy Officer of IDA, “We are planning to launch an HKD-based stablecoin product and are actively working to widen our partnership network to integrate stablecoins into existing financial infrastructure, ultimately striving to reinforce Hong Kong’s leadership in the global digital asset landscape.”

“We see a significant opportunity for a non-USD pegged stablecoin, as 83% of countries worldwide do not use the USD as their official or secondary currency for transactions. This means residents and visiting tourists primarily transact in their local currencies,” Mr. Lee added, “An HKD-based stablecoin could provide practical utility for a wide array of applications across various sectors, including retail and commercial payments, and contribute to an increasingly interconnected global economy.”

About Quinlan & Associates

Quinlan & Associates is one of Asia’s leading independent strategy consultancies. We are the first firm to offer end-to-end strategy consulting services. From strategy formulation to execution to ongoing reporting, communications, and training, we translate cutting-edge advice into commercially executable solutions. With our team of top-tier financial service and strategy consulting professionals and our global network of alliance partners, we give our clients the most up-to-date industry insights from around the world, putting them an essential step ahead of their competitors.

For more information, please visit www.quinlanandassociates.com.

About IDA

IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.

IDA will launch a stablecoin product which is designed to drive enhanced connectivity of digital currency for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating stablecoins will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.

To maximize the network effect of the stablecoin project for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of stablecoins as a payment and settlement digital currency.

For more information, please visit www.idafi.xyz.

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SOURCE IDA

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PDRL Partners with Digital Quantum to Accelerate AeroMegh GeoAI’s Digital Transformation in Drone Technology

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November 27, 2024

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PDRL and Digital Quantum Unite to Drive Innovation and Expand the AeroMegh GeoAI Ecosystem

NASHIK, India, Nov. 27, 2024 /PRNewswire/ — PDRL, a leader in drone technology solutions, is thrilled to announce its partnership with Digital Quantum, a global technology consulting firm specializing in digital transformation. This strategic collaboration is set to enhance the capabilities of PDRL’s AeroMegh GeoAI platform, delivering next-generation digital solutions to a wider audience in the rapidly expanding drone industry.

About Indian GIS Industry 2024

The Indian Geographic Information System (GIS) industry in 2024 is experiencing substantial growth, fuelled by advancements in digital transformation and the increased adoption of drone and satellite technologies across sectors like agriculture, urban planning, infrastructure, and disaster management. Government initiatives, including the Digital India program, Smart Cities Mission, and the Geospatial Data Policy, have strengthened the GIS ecosystem, encouraging both innovation and cross-sector adoption of GIS-driven solutions. As cloud-based, AI-driven, and real-time GIS solutions become more prominent, the industry is evolving to support accurate, on-demand data and dynamic decision-making. Partnerships, such as that of PDRL and Digital Quantum, are pivotal in driving this growth by bringing advanced technology and streamlined data capabilities to the forefront.

About AeroMegh, A GeoAI Platform

AeroMegh combines pioneering AI and GIS technologies to enhance drone operations, geospatial intelligence, and data analytics. Its capabilities include comprehensive GIS features for data processing, importing, and workflow integration through APIs, allowing users to efficiently manage geospatial data and generate actionable insights. The platform’s AI-powered features deliver advanced image and video analytics, automating processes such as object detection and annotation to streamline aerial data analysis. AeroMegh also supports LiDAR integration and photogrammetry for high-precision mapping and 3D modeling, enabling applications in agriculture, construction, and urban planning. Collaboration features, including role-based access and real-time interaction, ensure seamless teamwork and data sharing, making it ideal for industries seeking unified solutions for drone missions and geospatial intelligence.

Driving Digital Transformation with AeroMegh GeoAI

Digital Quantum, renowned for its expertise in technology integration and digital transformation, enables organizations to adopt innovative, experience-led solutions for enhanced operational efficiency and growth. Through this partnership, AeroMegh GeoAI, a comprehensive platform for drone operations, data processing, and analytics will leverage Digital Quantum’s customer-centric design and advanced digital solutions. Together, they aim to streamline drone operations and data analytics across diverse industries such as agriculture, infrastructure, mining and more.

Digital Quantum’s unique approach combines design thinking with advanced technologies to deliver scalable, customer-centered solutions that will empower AeroMegh GeoAI to meet the evolving needs of India’s booming GIS industry. By utilizing Digital Quantum’s capabilities, AeroMegh GeoAI is set to expand its reach, enabling organizations to fully harness the potential of drone technology for accurate, data-driven decision-making.

Meeting the Needs of India’s Evolving GIS Landscape

In an era where GIS technology is reshaping industries, this partnership will enable AeroMegh GeoAI to evolve continuously, aligning with the dynamic demands of the GIS and drone technology sectors in India. With PDRL and Digital Quantum working together, the AeroMegh GeoAI ecosystem is poised to provide accessible, impactful digital transformation for businesses across sectors.

Anil Chandaliya, CEO, PDRL: “Our partnership with Digital Quantum comes at a pivotal moment in India’s GIS industry, where digital transformation and drone technology are rapidly converging. Together, we aim to drive innovation in AeroMegh GeoAI, empowering industries with groundbreaking capabilities.”

Amitabh Shukla, CEO, Digital Quantum: “We are excited to partner with PDRL and support AeroMegh GeoAI in advancing India’s GIS landscape. Our expertise in digital innovation and customer-focused solutions aligns perfectly with PDRL’s vision, and we look forward to redefining the drone technology landscape together.”

By joining forces, PDRL and Digital Quantum are poised to reshape the GIS and drone technology landscape, positioning AeroMegh GeoAI at the forefront of digital transformation and empowering industries across India to embrace a future of data-driven innovation and precision.

About PDRL:

Established in 2018, PDRL has swiftly risen as a dominant force in the Drone Technology, commanding a market share exceeding 50%. With three patents secured and three more in the pipeline, PDRL is committed to pioneering advancements that Create More Time to Live.

Central to PDRL’s mission is the development of cutting-edge drone technologies that streamline operations, boost efficiencies, and create more time to live.

At the heart of PDRL’s innovation is AeroMegh, a revolutionary drone SaaS solution integrating flight management, data capture, processing, and analytics. AeroMegh consists of: AeroGCS: Ensures seamless flight operations, AeroMegh GeoAI platform: Delivers precise photogrammetry solutions and provides advanced GeoAI data analytics. Together, these products empower users with actionable insights, simplifying drone operations and enhancing overall efficiency.

PDRL remains steadfast in its commitment to sustainability and responsible innovation. By leveraging eco-friendly drone solutions, PDRL aims to mitigate carbon footprints and promote environmentally conscious practices across various sectors.

Through continuous research and development, strategic partnerships, and unwavering customer focus, PDRL envisions leadership in the market and also a future defined by efficiency, sustainability, and enduring societal impact.

Contact Details: 
marketing@pdrl.in | +91-7770013322

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Science Meets Romance: Chemical Engineer Caryn Davis is Flipping the Script and Helping People Find Their Ultimate Chemistry

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November 27, 2024

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Caryn Davis, founder of Exquisite Elite Matchmaking, blends science, expertise, and a personal touch to help busy professionals find lasting love and connection.

HOUSTON, Nov. 26, 2024 /PRNewswire/ — In a world where the complexities of love often rival the intricacies of science, one woman is bringing precision and expertise to the realm of relationships. Caryn Davis, a chemical engineer turned Certified Science-Based Dating Coach and Matchmaker, is using her personal experiences to redefine modern dating.

As the founder of Exquisite Elite Matchmaking, Davis blends her certified training, of what keeps couples together and what breaks them a part, along with a personal touch to help busy professionals find meaningful, long-term relationships. Drawing from her background in chemical engineering and an MBA, she uniquely combines logic and intuition to match clients based on physical attraction (i.e., no blind dates), compatibility, shared values, and relationship goals. Davis relates to her clients in the dating world because she knows what it feels like to be single, married, and divorced. Recognizing the challenges professionals face in finding genuine connections amidst hectic schedules, she decided to create a solution in a stress-free and relaxing manner. That solution became Exquisite Elite Matchmaking, a bespoke service that caters to men from their late 20s to mid 60s primarily in Texas (plans to expand in other states in the future) and offers date coaching to women nationwide.

Empowering BUSY Professionals Through Connection

Beyond the personal impact of her work, Davis is committed to helping BUSY professionals build meaningful relationships. Her approach focuses on addressing the unique challenges they face in dating, ensuring they find partners who complement their goals and values. Davis emphasizes that dating is an opportunity for individuals to grow, connect, and build a foundation for lasting happiness. She acknowledges that while BUSY professionals often excel in their careers, they may struggle to prioritize love, and she helps them bridge that gap with tailored strategies and guidance.

She understands her client’s needs, so she can find partners who genuinely complement them. Her holistic process includes personalized assessments, coaching sessions, and image consultations. As a licensed cosmetologist, she ensures her male and female clients present themselves in their best light. Although her background is in a STEM profession, her clientele have various professional backgrounds, approximately 40% STEM Professionals and 60% Business, Non-Profits, Education, Entrepreneurship, etc.

Exquisite Elite Matchmaking: A Cut Above the Rest

Exquisite Elite Matchmaking is more than just a matchmaking service; it’s a transformative experience. Davis takes pride in tailoring her services to each client’s unique needs, offering:

Personalized Matches: Based on physical attraction, compatibility, values, and goals.Date Coaching: Strategies to improve communication, self-growth, and connection.Image Consulting: Style tips to make lasting impressions.

This approach has earned Davis a reputation as a leader in modern matchmaking, providing a fresh, results-driven perspective on relationships.

Looking to the Future

As the holiday season approaches, Davis is dedicated to helping clients embrace love as a priority. Her matchmaking process inspires hope for those seeking genuine, lasting relationships by providing practical tools and a personalized approach. Drawing from her background as a chemical engineer, Davis applies her problem-solving mindset to help individuals find happiness in their personal lives. Her unique formula for success continues to pave the way for meaningful connections and enduring relationships.

For media inquiries, or to schedule an interview with Caryn Davis—please contact Innovating Marketing Group at info@innovatingmarketinggroup.com or call 346-980-9062.

About Exquisite Elite Matchmaking

Caryn Davis is the founder of Exquisite Elite Matchmaking, a Certified Science-Based Dating Coach, and Matchmaker. With a background in chemical engineering and an MBA, Davis blends her professional expertise with personal experience to help clients find meaningful relationships. Her work for her clients emphasizes compatibility and personal growth.

Press Contact:

LaToya F Hurley
3469809062
http://www.InnovatingMarketingGroup.com

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SOURCE Exquisite Elite Matchmaking

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