$4.7 Billion Worldwide Neurosurgical Robotics Industry to 2028 - Rising Number of Product Developments and Approvals Present Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 18, 2022--

The "Neurosurgical Robotics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Equipment/System, Accessories, and Services], Application [Spinal and Cranial], Surgery Type, and End Users" report has been added to ResearchAndMarkets.com's offering.

The global 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 16.10% from 2022 to 2028.

The report highlights prevailing trends and factors driving the market growth. The growth of the global neurosurgical robotics market is attributed to the rise in the number of neurosurgical procedures and the advantages of neurosurgical robots that encourage key players to develop innovative products.

However, the high installation costs of neurosurgical robots hinder the overall market growth. Robots have become a reality in many surgical fields, and their popularity is quickly increasing. Much of this popularity stems from the desire to provide patients with the least invasive surgery options available since minimally invasive surgery is associated with fewer complications, shorter hospital stays, and improved cosmetic results.

Over the last 20 years, neurosurgical robots have increasingly assisted 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.

Brain and spinal surgeries require a high degree of technical proficiency, and robotic systems may play a crucial role in achieving desired outcomes. Over traditional neurosurgeries, neurosurgical robots possess several advantages, including increased accuracy, better outcomes, sooner recovery, and shorter hospital stays.

Minimally invasive robotic neurosurgery or robotic neurological minimally invasive surgery (RNMIS) represents a preferred option for medical centers, surgeons, and patients. The use of robotics in neurosurgery eliminates mechanical errors, reduces operating duration, and provides the same or greater respective margins with minimal-access surgery.

For instance, Renaissance Guidance System is a spine surgical robot developed by Mazor Robotics. The system helps improve accuracy and minimizes recovery time. It allows surgeons to pre-plan surgery in a 3-D field and guides them during surgery. The computer guidance allows superior accuracy, particularly if a patient's anatomy shifts during surgery.

Moreover, owing to the increased advancements in neurosurgery, key players are working to grab a significant share in the neurosurgical robotics market. According to the data published by The Spine Market Group, Johnson & Johnson has around 16% of the spine market.

Also, according to Johnson & Johnson's CEO, the company is working to unlock the full potential and benefits of robotic and digital technologies. The growing demand for minimally invasive surgeries fueled the neurosurgical robotics market. In March 2019, Zimmer Biomet received FDA clearance for ROSA ONE Spine System for robotic-assisted surgeries. ROSA ONE Spine is a robotic and surgical navigation system designed to aid surgeons in performing thoracolumbar minimally invasive and complex spine procedures.

Additionally, the approval of the ROSA ONE Spine System strengthened the company's comprehensive ROSA ONE Brain Robotic system. Hence, the advantages of neurosurgical robots encourage key players to develop innovative products in the global neurosurgical robotics market.

Market Dynamics

Drivers

• Rise in Number of Neurosurgical Procedures
• Advantages of Neurosurgical Robots Encourage Key Players to Develop Innovative Products

Restraints

• High Installation Costs of Neurosurgical Robots

Opportunities

• Rising Number of Product Developments and Approvals

Future Trends

• Rising Developments of Nanorobots for Neurosurgery
• Nanorobots in neurosurgery is an emerging field

Companies Mentioned

• 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

For more information about this report visit https://www.researchandmarkets.com/r/od9uhz

View source version on businesswire.com:https://www.businesswire.com/news/home/20221118005415/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: SURGERY HEALTH ROBOTICS OTHER TECHNOLOGY TECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2022.