APAC Surgical Robotics Market Forecasted to Reach $4.93 Billion by 2032: BIS Research

Research Reports

Nov 20, 2023

Surgical systems are becoming more advanced, enhancing workflows and achieving precise clinical outcomes. Surgical robotic systems are being used to make surgeries safer, more accurate, and less invasive for patients. The Asia-Pacific region is gaining prominence as a market with increasing per capita income and notable progress in developing surgical robotics technology.

According to the BIS Research market intelligence report, the APAC surgical robotics market was valued at $1.35 billion in 2021 and is expected to reach $4.93 billion by the end of 2032, registering a CAGR of 11.60% during the forecast period 2022-2032. Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing to the growth of surgical robotics in the APAC region.

APAC Surgical Robotics Market Analysis: Drivers, Opportunities and Challenges

The APAC region encompasses Australia, New Zealand, Japan, China, India, South Korea, Taiwan, Thailand, Singapore, Malaysia, Indonesia, the Philippines, and others.

The growth of the surgical robotics market in the Asia-Pacific region is projected to be significantly fueled by the rise in household disposable income. The region’s robust economic expansion is expected to be a pivotal factor driving market growth. The average selling price (ASP) for surgical robots in the Asia-Pacific area is predicted to decrease relative to other regions due to local companies competing with Intuitive Surgical, Inc. by offering more affordable models.

Nevertheless, the region faces a substantial challenge due to the elevated expenses related to surgeries and the need for well-trained professionals. Moreover, the limited availability of training institutes and programs impedes the increased adoption of surgical robots.

BIS Research, a leading market research firm, has released a report titled – APAC Surgical Robotics Market. It discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the APAC surgical robotics market.

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APAC Surgical Robotics Market Segments: Overview

BIS Research report on the APAC surgical robotics market covers the segments: type, application, and country. The instruments and accessories segment dominated the market by type in 2021, and this trend is expected to persist throughout the forecast period from 2022 to 2032. Moreover, there is a significant projected growth in the market share of the services segment, with an estimated CAGR of 12.74% over the forecast period from 2022 to 2032. The urology surgery segment commanded the most significant portion of the market by application in 2021, and this pattern is expected to persist throughout the forecast period spanning from 2022 to 2032.

Japan leads the APAC surgical robotics market, as most established companies are here. Moreover, China’s share is projected to increase from 27.44% in 2021 to 29.04% by 2032 by the end of the forecast period.

Critical Trends in APAC Surgical Robotics Market

Key players in the APAC surgical robotics market include Medicaroid Corporation, meerecompany Inc., Articulus Surgical, KAIST Future Medical Robotics Research Center, and MicroPort Scientific Corporation. Notably, MicroPort Scientific Corporation specializes in the orthopedic application of surgical robotics in the Asia-Pacific region. Other domestic companies that offer robotic systems for orthopedic, spinal, and neurological surgeries include Curexo, Inc., Tinavi Medical Technologies, and Koh Young Technology.

Robotic surgery’s applications are expanding beyond the operating room, facilitated by advancements in optics and computer science for 3D organ visualization during procedures. Growing demand for minimally invasive robotic surgery is driven by multi-tool use through multiple access points. Integrating AI into surgical robotics aims to improve safety productivity and reduce errors, paving the way for autonomous surgical robotics.

USP of the APAC Surgical Robotics Market Report

The APAC surgical robotics market report offers unique selling points (USPs), such as an in-depth competitive analysis of major market players, providing a comprehensive overview of the APAC surgical robotics market. It examines the market’s economic influence and highlights notable end-user industry advancements. The report conducts a thorough supply chain and pricing analysis. It also delves into the investment landscape, assessing product adoption trends and patents. These features make the report valuable for understanding APAC Surgical robotics’s dynamics and opportunities.

Report Focus and Methodology

The APAC surgical robotics market report provides a credible global and regional analysis. The report profiles existing and upcoming products, types, applications, end users, and key players in the market.

BIS Research follows an effective market intelligence methodology comprising a crucial 15-step process. Data is captured from reliable, intelligent sources such as expert interviews, patents, web analytics, scholarly articles, scientific publications, and research and development literature.

BIS follows the Deep Tech M-A-P™ approach, which includes market, application, and product within the syndicated and custom research projects.

M– The Market section covers industry overview, business dynamics, competitive benchmarks, and company profiles. It provides insights to enter, expand, or exit markets globally, regionally, or locally.

A– The Application section delves into product analyses, technology insights, use cases, and user types. Precise market estimates and forecasts back this data.

P– The Product section covers products, parts, technologies, and materials. Companies looking to drive an innovative agenda need information about product definitions, demand analysis, technology benchmarking and roadmaps, patents, and pricing analysis.

Analyst Take on the APAC Surgical Robotics Market

BIS healthcare analyst suggests: “Integrating artificial intelligence (AI) into surgical robotics offers companies the potential to enhance safety, productivity, and time efficiency. AI aims to reduce or eliminate human error risks. Ongoing endeavors to merge AI with surgical robotics herald a new era of autonomous systems, focused on optimizing surgical outcomes and improving patient care.”

About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters functional in the strategic decision-making for senior management.

BIS Research offers firms syndicated and custom studies and expert consultations, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.

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