US Robotic Surgery Services Market Analysis Report 2022 to 2030

US Robotic Surgery Services Market Analysis

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US's Robotic Surgery Service market size was valued at $1.80 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 17.3% % from 2022-30 and will reach $6.4Bn in 2030. The robotic surgery service market will grow due to robotic surgery technology having made complex surgical procedures more accessible, especially in rural areas where access to specialized surgeons may be limited. The market is segmented by product and service type, application type, and end user. Some of the major players are Intuitive Surgical (USA), Stryker Corporation (USA), Mazor Robotics (USA), Medtronic (USA), and others.

ID: IN10USHS017 CATEGORY: Healthcare Services GEOGRAPHY: US AUTHOR: Chandani Patel

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US Robotic Surgery Service Market Executive Summary

US's Robotic Surgery Service market size was valued at $1.80 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 17.3% % from 2022-30 and will reach $6.4Bn in 2030. The federal government of the US spends a significant amount of money each year to finance various programs and initiatives. The total amount of government spending can vary from year to year depending on various factors, such as economic conditions and political priorities.

Surgical robots are indispensable to hospitals and clinical surgical centers as it help surgeons or healthcare professionals to perform complex surgeries with more precision as compared with traditional technologies and techniques.

In 2021, the federal budget was approximately $4.5 trillion. The largest areas of spending include entitlement programs such as Social Security and Medicare, defense, and interest on the national debt. Other areas of government spending include education, transportation, and research and development.

Some of the most advanced and widely used surgical robots in the US include the da Vinci Surgical System, the Mako Robotic Arm System, and the ROSA Brain Platform. These systems have been designed to enhance the precision and control of the surgeon during complex procedures, leading to improved patient outcomes. Robotic surgery services are likely technology will continue to evolve and improve in the coming years. Nevertheless, the US remains a leader in the field and continues to push the boundaries of what is possible with robot-assisted surgery. Hence, the US robotic surgery service market demand will rise in the coming years.

US Robotic Surgery Service Market

Market Dynamics

Market Growth Drivers

Robotic surgery has been shown to result in improved surgical outcomes compared to traditional surgical methods, with less blood loss, fewer complications, and faster recovery times. Additionally, precision and accuracy: Robotic surgery offers greater precision and accuracy compared to traditional surgical methods, allowing for minimally invasive procedures and reducing the risk of complications.

Moreover, robotic surgery technology has made complex surgical procedures more accessible, especially in rural areas where access to specialized surgeons may be limited. While the initial investment in robotic surgery technology can be high, many hospitals and healthcare facilities have found that the technology can ultimately result in cost savings over time due to improved patient outcomes and reduced complications.

Market Restraints

The cost of purchasing and maintaining surgical robots can be high, which may be a barrier for some healthcare facilities, especially smaller ones. Moreover, limited training and expertise: There is a shortage of trained and experienced surgeons who are skilled in using robotic surgery technology, which may limit the availability of the technology in some areas.

Furthermore, there can be challenges in obtaining reimbursement for robotic surgery procedures, and there may be regulatory hurdles that need to be addressed before widespread adoption can occur. Despite the benefits of robotic surgery, some patients and the public may be skeptical or have concerns about the safety and efficacy of the technology.

Competitive Landscape

Key Players

Intuitive Surgical (USA)
Stryker Corporation (USA)
Mazor Robotics (USA)
Medtronic (USA)
Verb Surgical (USA)
TransEnterix Surgical, Inc.
Renishaw plc.
Intuitive Surgical
Medtronic
THINK Surgical, Inc.
Zimmer Biomet

Notable Deals

March 2019, Intuitive Surgical's acquisition of Auris Health: Intuitive Surgical announced its acquisition of Auris Health, a company that specializes in developing robotic systems for minimally invasive lung procedures. The acquisition was valued at approximately $3.4 Bn and was seen as a strategic move by Intuitive Surgical to expand its presence in the growing field of robotics-assisted surgery.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

Robotic surgeries services in the US are regulated by the following bodies:

U.S. Food and Drug Administration (FDA): The FDA is responsible for regulating medical devices, including surgical robots. The FDA reviews and approves surgical robots before they can be marketed and used in the US, and they also monitor their safety and effectiveness once they are in use.

Centers for Medicare and Medicaid Services (CMS): The CMS is responsible for setting and administering reimbursement policies for surgical procedures, including those performed using surgical robots.

Joint Commission: The Joint Commission is an independent, non-profit organization that accredits and certifies healthcare organizations in the US. They provide guidelines and standards for the use of surgical robots in the healthcare setting.

In the US, the reimbursement for surgical procedures performed using surgical robots varies depending on the procedure, the patient's insurance, and the state in which the procedure is performed. In general, surgical procedures performed using surgical robots are reimbursed at a higher rate than traditional surgical procedures, but the exact amount can vary depending on the specific procedure and the patient's insurance coverage.

Furthermore, there may be specific regulations and guidelines that vary from state to state, so it's important for healthcare providers and patients to be aware of the regulations and reimbursement policies in their specific area.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Robotic Surgery Services Market Segmentation

By Product and Services (Revenue, USD Billion):

The surgical robotics market volume data has been covered for all the major surgical robotics systems. In terms of value, the surgical systems market is anticipated to expand at a CAGR of 11.22% from 2018 to 2025.

Instruments and Accessories
Robotic Systems
Services

By Application (Revenue, USD Billion):

Gynecology accounted for the largest market share in 2017 and is anticipated to expand at a CAGR of 7.0% from 2018 to 2025. This is explained by the rising prevalence of gynecological complications in women worldwide and the ongoing development of robotic technologies.

General Surgery
Gynecological Surgery
Urological Surgery
Neurosurgery
Orthopedic Surgery
Other Applications

By End User (Revenue, USD Billion):

The hospitals' segment had the largest market value in 2017 and experienced a CAGR of 13.20% from 2018 to 2025. However, during the projected period of 2018–2025, the ambulatory surgical center's income is predicted to rise at the highest CAGR of 18.20%.

Hospitals
Ambulatory Surgery Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.