The neurosurgical robotics market is expected to grow from US$ 1,691.02 million in 2021 to US$ 4,729.86 million by 2028. It is estimated to grow at a CAGR of 16.1% from 2022 to 2028.
A robot is an automatic mechanical device often resembling a human or animal. Modern robots are usually electro-mechanical machines guided by a computer program or electronic circuitry. Robots can be autonomous or semi-autonomous and range from humanoids such as Honda's Advanced Step in Innovative Mobility (ASIMO) and TOSY's TOSY Ping Pong Playing Robot (TOPIO) to industrial robots, collectively programmed swarm robots, and even microscopic nanorobots. Over the last 20 years, neurosurgical robots have been increasingly assisting in neurosurgical procedures. In recent years, neurosurgical robots have been developed to perform various procedures. Public demand is informing the direction of neurosurgery and placing greater pressure on neurosurgeons to use neurosurgical robots. The increasing diversity and sophistication of neurosurgical robots have received ethical scrutiny due to the surgical complications that may arise as well as the role of robots in the future.
The report offers insights and in-depth analysis of the global neurosurgical robotics market, emphasizing various parameters, including market trends, technological advancements, market dynamics, and competitive landscape analysis of global leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. The overall COVID-19 impact on the neurosurgical robotics market was mixed; hence, the market is still gaining traction and is expected to grow in the coming years. The health care systems were overburdened, and the delivery of medical care to all patients has become a challenge in the region. In addition, the medical device industry was also facing the undesirable impact of this pandemic. As the COVID-19 pandemic continued to unfold, medical device companies found difficulties managing their operations. Many companies of neurosurgical robotics had their business operations in the USand businesses were adversely affected by the effects of a widespread outbreak of COVID-19. However, after the pandemic restrictions normalized, the volume of surgical procedures returned to normal levels. Gradually hospitals started resuming elective procedures as the COVID-19 recovery rate was increasing the demand for medical equipment like neurosurgical robots.
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Neurosurgical Robotics Market: Strategic Insights
Market Size Value in US$ 1,691.02 Million in 2021 Market Size Value by US$ 4,729.86 Million by 2028 Growth rate CAGR of 16.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Neurosurgical Robotics Market: Strategic Insights
| Market Size Value in | US$ 1,691.02 Million in 2021 |
| Market Size Value by | US$ 4,729.86 Million by 2028 |
| Growth rate | CAGR of 16.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Geography-Based Insights
By geography, the global neurosurgical robotics market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Russia, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, Kazakhstan, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of the MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Lucrative Regions for Neurosurgical Robotics Market
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Market Insights
Rise in Number of Neurosurgical Procedures
The growing prevalence of neurological disorders, including epilepsy, Parkinson’s disease, head injury, brain tumors, brain stroke, and hydrocephalus, raises the need for neurosurgeries. Also, several subspecialties of neurosurgery, such as pediatric neurosurgery, functional neurosurgery, neurovascular surgery, traumatology, skull-base surgery, and spinal surgery, are among the most technical and skilled areas of surgery.
According to an article entitled “Emphasizing the Role of Neurosurgery Within Global Health and National Health Systems” published in Frontiers Media S.A. in 2021, due to the increasing incidence of traumatic brain injury (TBI) and hydrocephalus, 22.6 million individuals worldwide need neurological care annually. Among these patients, 13.8 million individuals require neurosurgery. As per the data published by the Centers for Disease Control and Prevention (CDC), the US recorded ~223,135 TBI-related hospitalizations in 2019 and 64,362 TBI-related deaths in 2020. Also, as per an article published in 2022 in The Lancet entitled “The future research path of traumatic brain injury, " more than 27 million new cases of TBI are reported worldwide every year. TBI can be treated by neurosurgical procedures. Therefore, the rising cases of TBI due to several factors, including falls, sports injuries, road accidents, domestic violence, and military incidents, propel the demand for neurosurgical procedures.
According to World Health Organization (WHO) data published in June 2022, ~50 million people have epilepsy across the world, and it is one of the most common neurological diseases. Nearly 80% of epilepsy patients are in low- and middle-income countries. Additionally, an estimated 5 million people are diagnosed with epilepsy each year. The patients who poorly respond to drug treatment undergo surgery. Therefore, the growing incidence of epilepsy propels the need for neurosurgical procedures. Thus, an increase in the number of neurosurgeries drives the growth of the neurosurgical robotics market.
Component-Based Insights
Based on component, the global neurosurgical robotics market is segmented into equipment, accessories, and services. In 2021, the accessories segment accounted for the largest market share. However, the services segment is anticipated to register the highest CAGR in the market from 2022 to 2028.
Global Neurosurgical Robotics Market, by Component – 2021 and 2028
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Application-Based Insights
Based on application, the global neurosurgical robotics market is bifurcated into spinal and cranial. The spinal segment held a larger market share in 2021 and is expected to register a faster CAGR during the forecast period.
End User-Based Insights
Based on end users, the global neurosurgical robotics market is segmented into hospitals, specialty centers, and others. The hospitals segment held the largest market share in 2021. The same segment is expected to register the highest CAGR in the market from 2022 to 2028.
The global neurosurgical robotics market players take up organic strategies, including product launch and expansion, to expand their footprint and product portfolio worldwide and meet the growing demand. The key players in the market are Globus Medical, Inc., Renishaw plc, Accuray Incorporated, NuVasive, Inc, Brainlab AG, Zimmer Biomet, Synaptive Medical, Inc., Medtronic, Brain Navi Biotechnology Co., Ltd., B. Braun Melsungen AG.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, Surgery Type, and End Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Kazakhstan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Rise in number of neurosurgical procedures and advantages of neurosurgical robots encourage key players to develop innovative products are the most significant factors responsible for the overall market growth.
Based on component, equipment/systems segment took the forefront lead in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.
Based on application, spinal segment took the forefront lead in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.
The minimal invasive segment dominated the global neurosurgical robotics market and accounted for the largest market share in 2021.
Brainlab AG; Medtronic; Renishaw plc; Zimmer Biomet; Globus Medical, Inc.; Synaptive Medical, Inc.; NuVasive, Inc.; Accuray Incorporated; Brain Navi Biotechnology Co., Ltd.; and B. Braun Melsungen AG are among the leading companies operating in the neurosurgical robotics market.
The List of Companies - Neurosurgical Robotics Market
- Brainlab AG
- Medtronic
- Renishaw plc
- Zimmer Biomet
- Globus Medical, Inc.
- Synaptive Medical, Inc.
- NuVasive, Inc.
- Accuray Incorporated
- Brain Navi Biotechnology Co., Ltd.
- B. Braun Melsungen AG
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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