Robotic Surgery Consumables Market

Market overview: 

This Robotic Surgery Consumables Market is pegged at US$ 4.88 billion in the year 2023 and further growing progressively to reach up to US$ 9.5 billion by 2032 at a CAGR of 11.4%. Some of the driving forces behind this increase include wide acceptance of robotic surgical systems, expansion in minimally invasive procedures, enhanced interest in patient safety, and better results from surgeries.

The product being studied has subjects as its main users, utilizing it for various procedures in various departments like general surgery, gynecology, urology, and orthopedics. These disposable products are comprised of a number of consumables, which form the 'must-haves' in the robot-assisted surgical techniques, including but not limited to access and release tools, guidance tools—generally known as instruments mounted on robotic arms—and closing materials.

The market expansion is closely related to the improvement of technology. Manufacturers have always innovated to provide products that are effective, user-friendly, and economically viable to the consumer, a reason which has contributed to market growth in many cases. Nevertheless, along with the already heavy upfront investment to be made in the implementation of Robotic Surgical Systems, the high price tag for Robotic Surgical Consumables would prove to be too costly for some healthcare providers, thus acting as a considerable growth constraint for further expansion of the market. Additionally, ultra-strict regulations sometimes prevent the launch of new technologies into the market.

Despite the many challenges the market faces, there is a huge future potential for robotic surgery consumables. Coupled with never-stopping development, falling prices, and increased awareness, huge growth in the near future and new opportunities for the minimally invasive surgical practice in order to improve patient care will become reality.

The Robotic Surgery Consumables Market reached 4.88 billion USD in 2023 and is likely to further reach 9.5 billion USD by the end of 2032 at a CAGR of 11.4% during the period.

Robotic Surgery Consumables Market

Size, by Product, - (USD Billion)

Instruments

Access and Facilitation Equipment

Closure Materials

Other Products

The Market will Grow

At the CAGR of:

11.4%

The Forecast Market

Size for in USD:

$9.5 billion

Market growth factors:

• Market Adoption of Robotic Surgical Systems: Growing interest in RAS across various surgical specialties is another key driver. This is because of improved ergonomics for the surgeon and potential patient improvement that creates an impetus for hospitals to invest in such systems, consequently raising demand for consumables used in these procedures.

• Focus on Minimally Invasive Surgery: The focus of the industry on MIS is perfectly aligned with the benefits conferred by robotic surgery, which include a faster recovery time, less blood loss, and better cosmesis for patients. With this increased focus on MIS, the demand for consumables used in robotic surgery is expected to increase hand in glove.

• Technology Advancements: The advancement in the technology of robotic surgery is endless and has been continuously pushing boundaries. Advanced instruments, advanced camera systems, and advanced robotic arms need consumables that are compatible in order to optimize the performance of the latest systems. Furthermore, manufacturers are also constantly innovating accessories that are adapted to the specifics of new robotic surgery platforms.

• Expanding Landscapes of Applications: No more is it limited to a few procedures. The surgeons try its potential for various complex surgeries in specialties such as Urology, Gynaecology, and Orthopaedics, or even Heart Surgery. The expansion of new applications will give a wider market for robotic surgery accessories, since more procedures would require specialized instruments and accessories.

Market trends:

• The robotic surgical consumables market is truly a profitability-driven market rather than an innovation-driven one. While the advantages of robotic surgery are undeniable, financial issues remain to be a big hurdle for every consumable item. The above scenario has fuelled a set of trends impacting strategies for manufacturers and healthcare providers related to this market.

• Value-based pricing frameworks: Apart from the traditional fixed pricing, manufacturers are assessing value-based frameworks in which the consumable cost is directly related to clinical outcomes attained in patients, further pushed by advancements in robotic surgery. This paradigm incentivizes both manufacturers and healthcare providers to focus on efficiency and cost-effectiveness.

• Reusable supplies: It is argued that reusable instruments could be more cost-effective in the long run. On the other hand, reprocessing involves the tedious process of cleaning and sterilization. Future innovations in recycling methods to make these processes easier and more effective could make the reusable options more viable. There will thus be a trade-off between the different approaches within the market. Choices will depend on assessments of the cost-effectiveness of the options, the structures already in place in hospitals, and the development of technologies related to reprocessing.

• Value-added services: It is not about just selling consumer products anymore. These days, manufacturers are working towards creating value to augment the experience of health practitioners. Surgical training programs for surgeons and surgical personnel on the proper use of robotic systems and their affiliated consumables can be conducted in support of surgery-related efficiencies and to realize optimal outcomes for patients.

• Analysis of the data for workflow optimization from this robot-assisted surgical procedure indicates that the information gathered can be analyzed for optimization possibilities in the workflow. This could be done by manufacturers by providing recommendations and tips that would enable greater usage of resources, thus reducing costs to the health providers.

Key players:

1. Intuitive Surgical (United States)
2. Johnson & Johnson (United States)
3. Medtronic (Ireland)
4. Stryker Corporation (United States)
5. Zimmer Biomet Holdings (United States)
6. Smith & Nephew Plc (UK)
7. Auris Health, Inc. (United States)
8. Verb Surgical Inc. (USA)
9. Transenterix Surgical Systems, Inc. (United States)
10. CMR Surgical Ltd. (United Kingdom)
11. Medrobotics Corporation (United States)
12. Globus Medical, Inc. (United States)
13. RTI Surgical, Inc. (United States)
14. Applied Medical Devices, Inc. (United
15. B. Braun Melsungen AG (Germany)
16. Teleflex Incorporated (United States)
17. Medtronic plc (Ireland)
18. MicroPort Surgical Corporation (China)
19. Olympus Corporation (Japan)
20. Shin Nippon Surgical Co., Ltd. (Japan)

Recent Developments

1. SUNNYVALE, Calif., July 25, 2024 -- Intuitive, a global technology leader in minimally invasive care and a pioneer in robotic-assisted surgery, announced today that Intuitive President David J. Rosa has been appointed to the Company's Board of Directors effective July 24, 2024. Rosa joins Intuitive CEO Gary S. Guthart, PhD as one of two Intuitive executives on the Company's Board.

2. NEW BRUNSWICK, N.J., April 3, 2024 – Johnson & Johnson today announced that it is collaborating with more than 100 community-based health organizations serving historically marginalized communities across the United States, further bolstering the Company's broad, multi-year, multimillion-dollar efforts to advance health equity.

3. DUBLIN, Aug. 7, 2024 -- Medtronic plc (NYSE: MDT)., the global healthcare technology leader, today received U.S. Food and Drug Administration (FDA) approval of the world's first all-in-one, disposable CGM. At one-third of the height of the transmitter of any other CGM currently available in the United States and half the weight of such devices, the small profile design of Medtronic's new Simplera continuous glucose monitor (CGM) provides unique freedom.

4. PORTAGE, Mich. – Aug. 22, 2024 – Stryker (NYSE: SYK), one of the global leaders in medical technology, today announced that it has entered into a definitive agreement to acquire Vertos Medical Inc., a privately held company that offers a minimally invasive solution for chronic lower back pain associated with lumbar spinal stenosis. Lumbar spinal stenosis is a debilitating condition that affects millions around the world and is a leading cause of pain and disability. Exciting for patients today is seeking minimally invasive treatment options with less recovery time and shorter time out from living.

5. Smith+Nephew (LSE:SN, NYSE: SNN) today announced an exclusive digital and advanced analytics collaboration with Healthcare Outcomes Performance Company (HOPCo), the world's largest, fully integrated musculoskeletal (MSK), value-based care, and outcomes management company. The companies will partner to further enhance solutions to ASC customers, physicians, and their patients through HOPCo's digital health and analytics platforms, myrecovery and Vitals.

Market segmentation:

1. By Type:

• Instruments
• Access and Facilitation Equipment
• Closure Materials

2. By Application:

• General Surgery
• Gynecology
• Urology
• Orthopedics
• Other

3. By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

The general surgery segment by application holds the maximum share regarding the market size of consumables for robotic surgery.

the general surgery segment held the largest share of the global market for robotic surgery consumables. More importantly, the sphere of healthcare robotics has evolved dramatically over recent years, having a profound impact on the ways in which diseases are diagnosed and treated. The integration of robotic support into general surgeries allows the surgeon to conduct complex operations with greater precision and freedom. Robotic systems provide better control of the consumables for robotic surgery, as the instruments have feelings of an exceptional talent level. The length of stay, however, is given as shorter than usual for traditional manual general surgeries compared to robotic procedures, although support from research states that robotic-assisted general surgery can have benefits of decreased blood loss and superior short-term results. Some of the robotic-assisted systems using general surgery robotic surgical consumables are the da Vinci Xi, Senhance Robotic System, and Versius Robotic Systems.

Regional Analysis

Robotic Surgery Consumables Market in the Region of North America command a major share of the revenue.

The North American market holds great attraction for manufacturers of robotic surgery systems and consumables with a high level of adoption of sophisticated surgical technologies among the patients in the region and a strong and large-scale healthcare industry. Of these, the largest in revenue will be the United States. The surging prevalence of chronic diseases and demand for complex surgical procedures is driving the robotic surgery consumables market in the APAC. Furthermore, initiatives and reimbursement policies from governments, along with collaborations between healthcare providers and technology companies in the region, are stirring up the growth of the market in the region.

Market Opportunities:

• Emerging Markets: The Basis of Innovation: Robotic surgery is significantly rising in demand in the developing world, where health infrastructure has been trying to make steady progress. This represents a big opportunity for the manufacturers. They can serve this potential by doing the following:

• Developing cost-effective consumables: Currently, the high price of consumables together with replacement concerns may render the existing products too expensive for use in targeted areas. The manufacturer could explore ways of offering products at a lower cost by simplifying the design or changing materials involved in the product, even providing graduated product lines with reduced functionality.

• Value-Based Care: The current trend in the health care industry toward more value-based care models represents a further great opportunity for robotic surgical accessories. Value-based care is aimed at better patient outcomes with reduced costs. These goals are perfectly aligned with robotic surgery, which can reduce the days of hospitalization, avoid complications, speed recovery, and more.

Conclusion

The Robotic Surgery Consumables Market is likely to grow manifold, attaining the valuation of $9.5 billion by 2032 from $4.88 billion in 2023 at a compounded annual growth rate of 11.4%. This growth would find support from wide acceptance of robotic surgical systems across a host of medical disciplines, surging focus on minimally invasive surgeries, and continuous technological advancements. Despite the challenge of growth from high costs and strict regulations, the potential for the market is huge, especially with new opportunities emanating from developing regions and value-based models for care. As healthcare providers seek to enhance patient outcomes and efficiency, demand for robotic surgery consumables is likely to increase; it will be a key area of innovation and investment in the coming years.