Neurosurgical Robotics Market Size to Hit USD 4,729.86 million by 2028 - The Insight Partners

Neurosurgical robotics market is growing due to rising prevalence of surgical procedures and increasing awareness of technological advancements.

NEW YORK, UNITED STATES, October 31, 2022 /EINPresswire.com/ -- According to The Insight Partners latest study on, "Neurosurgical Robotics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, Surgery Type, End-User, and Region," the market was valued at US$ 1,691.02 million in 2021 and is projected to reach US$ 4,729.86 million by 2028; it is estimated to grow at a CAGR of 16.1% from 2022 to 2028.

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.

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Globus Medical, Inc.; Renishaw plc; Accuray Incorporated; NuVasive, Inc; Brainlab AG; Zimmer Biomet, and Synaptive Medical, Inc., among others, are among the leading companies operating in the neurosurgical robotics market.

Impact of COVID-19 Pandemic on Neurosurgical Robotics Market:

Companies engaging in the neurosurgical robotics market witnessed no major impact on their services in early 2020 due to the temporary shutdown of their manufacturing sites caused by the COVID-19 pandemic due to the essential role of robotic procedures in neurological disorders. Most service providers prioritized actions to help the critical work of consumers included in COVID-19, such as giving a range of high-quality COVID-19-related research tools, reassigning R&D resources for producing essential products for COVID-19, expanding the supply chain, providing flexibility to support expanded demand for enduring products applied for COVID-19 research, and entering into discussions and collaborations across the UK, the US, and China concentrated on SARS-CoV-2 diagnostics, drugs, and vaccines development. According to the European Journal of Oncology Pharmacy, 29% of hospital pharmacists reported shortages of drugs necessary for treating COVID-19 patients, and almost 50% also faced shortages of drugs necessary for treating cancer patients. In addition, most hospital pharmacists reported a decrease in planned surgery for oncology patients and a decrease in the number of chemotherapy preparations.

Advantages of Neurosurgical Robots Encourage Key Players to Develop Innovative Products

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.

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The growing adoption of robotic neurosurgeries help efficiently execute complicated tasks requiring high accuracy. The robots assist surgeons in preoperative planning and executing the tasks during surgery with a high degree of skill. For instance, Remebot neurosurgical robot, developed by Beijing Bohui Weikang Technology Co., Ltd., integrates image processing and surgical planning, automatic positioning and navigation, and a multifunctional surgical operation platform. It assists doctors in completing nearly 100 operations in 12 categories with minimal invasiveness, precision, and efficiency. Thus, the broad range of advantages and applications of neurosurgical robots propel the neurosurgical robotics market.

The hospital is a complex organization and an institute that provides health to people through complicated but specialized scientific equipment and a team of trained staff educated in the problems of modern medical science. They are all coordinated together for the common goal of restoring and maintaining good health. Most surgeries are being performed in hospitals due to continuous patient care and monitoring. The rising prevalence of various diseases, the increasing number of hospitals globally, and the rapid growth of various surgical procedures have primarily attributed to the growth of this segment in the neurosurgical robotics market in the coming years.

As per NCBI data, there are 66 centers and 71 robotic installations in India, as of July 2019, with more than 500 trained robotic surgeons. More than 12,800 surgeries have been performed with robotic assistance till now. Hospitals that rolled out robotic surgery programs saw a broad and immediate increase in such procedures. The use of robotic surgery climbed 8.8% in the first four years after hospitals introduced it. Owing to all the above-mentioned factors, the hospital market is likely to grow in the coming years

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