Expanding Horizons: The Da Vinci Systems Market in 2024


Posted June 5, 2024 by nishantcmi

Da Vinci surgical systems allow surgeons to perform minimally invasive surgeries with improved vision, precision, and control
 
Da Vinci surgical systems allow surgeons to perform minimally invasive surgeries with improved vision, precision, and control. Featuring magnified high-definition 3D views, robotic arms that bend and rotate to reach tight spaces, and tremor filtration for smooth and precise movements, Da Vinci systems enable complex procedures like cardiac surgery and prostatectomies to be performed with improved outcomes. The benefits of reduced blood loss, scarring, pain, and shorter hospital stays compared to open surgeries have led to rising adoption of robotic-assisted surgery globally.
The global Da Vinci Systems market is estimated to be valued at US$ 2.03 billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Da Vinci Systems market are Skillsoft Limited, Safety Media, GP Strategies Corp., UL EHS Sustainability, PRYOR Learning Solutions, Raytheon Company, DuPont Sustainable Solutions, 360training.com, Inc., SAP Litmos, Vector Solutions, Global Training Solutions, Inc., Cornerstone onDemand, Petroskills, Euro Petroleum Consultants Ltd . Intuitive Surgical continues to be the leader with over 95% market share.
Increasing investments in R&D by players has led to development of newer generation Da Vinci Systems Market Size with added capabilities like advanced instrumentation, surgical simulators for training, and enhanced imaging. Miniaturization of system components is allowing even delicate surgeries to be performed with greater precision.
Growing prevalence of chronic diseases like cancer and cardiac disorders globally is driving the demand for effective minimally invasive surgical treatment options. Rapid technological advancements are also enabling complex surgeries to be performed robotically with better clinical outcomes.

Market Trends

Growing demand for surgical robots in emerging economies: Players are focusing on expanding into high growth emerging markets in Asia Pacific, Middle East, and Latin America region by launching affordable surgical robot models or through tie-ups with local hospitals and insurers.

Advent of surgical simulators: Systems integrated with virtual reality simulators allow surgeons to practice and rehearse complex procedures virtually before live operations. This is improving patient safety by enhancing skills of new surgeons.

Market Opportunities

Multi-specialty surgical robots: Companies are developing next-gen da Vinci systems that can be used effectively across a wider range of surgical specialties like urology, gynecology, cardiothoracic, and neurosurgery procedures.

Partnerships for cost-effective care: Players can explore partnerships with hospitals, insurers, and local medtech companies to launch affordable surgical robot models or financing options to enable more patients in developing countries access minimally invasive surgery using da Vinci systems.

Impact of COVID-19 on Da Vinci Systems Market growth

The COVID-19 pandemic has disrupted various industries and the Da Vinci Systems market has been no exception. During the initial phase of the pandemic when lockdowns were imposed, the demand for robotic minimally invasive surgeries decreased significantly as hospitals focused their resources on COVID-19 treatment. Elective surgeries using Da Vinci systems were postponed to avoid exposure and reduce infection risk. This led to a decline in the sales of Da Vinci systems in 2020. However, as lockdowns eased and hospitals gradually resumed normal operations while ensuring COVID safety protocols, the demand started recovering from late 2020. The post-COVID scenario is expected to boost the Da Vinci Systems market growth in the coming years. With an increased focus on lowering infection risks, hospitals are likely to adopt more robotic surgery techniques. Also, the backlog of postponed surgeries is driving the demand. The manufacturers are witnessing an uptick in sales and have accelerated production to fulfil pending supply. The post-pandemic focus on patient safety and hospitals preferring less invasive treatments will support faster adoption of da Vinci robotic surgery systems going forward.

Geographical regions with high Da Vinci Systems market concentration

The North American region accounts for the largest share of the global Da Vinci Systems market in terms of value. This is attributed to factors such as high penetration of robotic surgeries, presence of major manufacturers, advanced healthcare infrastructure and availability of reimbursement. The United States alone constitutes over 60% of the North American market. Within the US, states like California, New York and Texas have the highest deployment of Da Vinci systems across hospitals. In Europe, countries such as Germany, France and the UK contribute significantly to the regional market. Awareness about Minimally Invasive Surgeries (MIS) and growing geriatric population undergoing surgeries are driving the European market.

Fastest growing region for Da Vinci Systems market

The Asia Pacific region is expected to witness the fastest growth in the Da Vinci Systems market during the forecast period. This is due to rising medical tourism, improving public and private investments in healthcare infrastructure and increasing focus of market players on penetrating developing countries. Countries like China, India, Japan and South Korea are anticipated to boost the regional market growth rate. The large patient population undergoing surgeries and rising disposable incomes enabling affordability are fueling the demand. In addition, growing partnerships between global companies and local hospitals are helping to expand the availability of Da Vinci technology across Asia Pacific.
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Issued By nishantcmi
Country India
Categories Health
Tags da vinci systems market , da vinci systems market forecast , da vinci systems market analysis , coherent market insights , robotic platforms
Last Updated June 5, 2024