Summary

South Korea has emerged as a global leader in technical innovation across a wide range of industries, including surgical robotics. With a commitment to promoting healthcare through cutting-edge technology, the government has made significant progress in the development and usage of surgical robots. South Korea's interest in surgical robots dates back to the early 2000s, when the government and corporate sector collaborated on research and development programs. This collaborative effort laid the groundwork for the establishment of significant participants in the industry, promoting an ecosystem suitable for innovation and expansion. South Korea's strong support from governmental entities, such as the Ministry of Health and Welfare, has played a crucial role in the expansion of the surgical robotics industry. The government's strategic investments, coupled with a conducive regulatory framework, have facilitated a streamlined pathway for the research, development, and commercialization of these advanced medical technologies. Direct investment in robotics and support equipment is predicted to propel South Korea's robotic surgical business. Since 2008, the government has been setting the technical, legal, and institutional groundwork for robotics with its first and second plans under the Intelligent Robot Development and Distribution Promotion Act. More than USD 100 million has been committed in its most recent 3rd Basic Plan for 2019-2023 to invest in the production of 1,500 advanced robots for various industries, including healthcare. Regulatory support for breakthrough medical devices is likely to accelerate and deepen the adoption of medtech advances like robotic surgery technology. The Medical Device Industry Act, launched in 2020 to accelerate the commercialization of new medical devices, will speed up the approval process for cutting-edge innovations and grant additional exemptions and support.

According to the research report "South Korea Surgical Robots Market Overview, 2029," published by Bonafide Research, the South Korea Surgical Robots market is projected to reach market size of more than USD 300 Million by 2029. With robotic surgery already gaining popularity and recognition in surgical fields such as orthopaedics, more hospitals and doctors are expected to adopt robotic surgery techniques and technology in order to remain competitive. As government initiatives continue to strengthen the healthcare infrastructure to support the growth of robotic surgery adoption, surgical device companies have opportunities to collaborate with hospitals to meet their needs for robotic surgery technology in areas such as financing, training, and more. South Korean surgical robots are at the cutting edge of merging artificial intelligence and machine learning technologies. This integration improves the capabilities of robotic-assisted systems by giving surgeons real-time decision-making support during complex procedures, resulting in higher precision and results. South Korea has built a streamlined regulatory environment to assist surgical robotics research, development, and commercialization. This favorable regulatory environment speeds up the approval process for new technology, allowing for faster integration of novel robotic solutions into clinical practice. The surgical robotics business in South Korea is committed to innovation, as seen by its ongoing investment in R&D. Ongoing attempts to improve existing technology and explore new applications add to the industry's dynamic nature, establishing South Korea as a center for cutting-edge advances in robotic-assisted surgery. South Korea's approach to surgical robotics goes beyond automation and emphasizes human-robot collaboration. The development of devices that improve rather than replace a surgeon's talents demonstrates a dedication to preserving the critical human element in healthcare while maximizing the benefits of robotic aid.

Based on surgical robot function segment market is divided into laparoscopic robots, endoscopic robots, microsurgical robots, robot-assisted radiosurgery, rehabilitation robots, and telepresence robots. Laparoscopic robots are expected to play crucial role in development of South Korea surgical robots market. Laparoscopic robots improve the precision and dexterity of surgeons during surgeries. The robotic arms can precisely duplicate the surgeon's movements, allowing for delicate and complex surgeries. This precision is especially important in difficult procedures that include the abdominal or pelvic regions. Laparoscopic robots have numerous uses in a variety of surgical disciplines, including urology, gynecology, general surgery, and colorectal surgery. These robotic systems versatility for various operations makes them an invaluable asset for hospitals and clinics looking for a comprehensive solution for a wide range of surgical treatments. Based on product & services segment market includes instrument & accessories, surgical systems and services. Instrument & accessories surgical robots are expected to lead the South Korea surgical robots market during the forecast period. Instruments and accessories are the foundation of every surgical robotic system. These components include robotic arms, end-effectors, consoles, and other specialized instruments that allow surgeons to perform complex surgeries with accuracy. As the demand for robotic-assisted surgeries develops, so does the necessity for these key components. Advanced instruments and accessories provide critical precision and control for surgical robotic systems. The development of robotic arms and equipment with haptic feedback, precision motor control, and real-time response allows surgeons to conduct difficult surgeries with pinpoint accuracy. This level of precision helps to enhance patient outcomes.

The application segment of the market is bifurcated into orthopedical surgery, gynecological surgery, general surgery, urological surgery, neurosurgery and other applications. Orthopedical surgery is expected to play major role in development of South Korea surgical robots market. Orthopedic surgery is essential for treating a wide variety of musculoskeletal ailments, including joint abnormalities, fractures, and degenerative illnesses. The frequency of these disorders, combined with an aging population, has resulted in a higher demand for orthopedic procedures. Robotic-assisted surgery in orthopedics provides a precise and minimally invasive method, which helps to enhance patient outcomes. Robotic-assisted orthopedic surgery allows for more minimally invasive treatments, resulting in smaller incisions than traditional approaches. This reduces tissue trauma, speeds up patient recovery, and lowers the chance of complications. The emphasis on less invasive operations is consistent with worldwide healthcare trends, which contributes to the increasing use of surgical robots in orthopedics. Based on end user segment market is bifurcated into hospitals and clinics and ambulatory surgery centers. Hospitals and clinics are expected to remain major end users of surgical robots in South Korea. South Korea's demand for surgical procedures continues to rise as a result of an aging population, the rising prevalence of chronic diseases, and changing healthcare needs. Surgical robots, with their capacity to improve precision and ease minimally invasive treatments, are ideal for addressing the expanding surgical burden in hospitals and clinics. Surgical robots are used in a wide range of medical specialties, including urology, gynecology, orthopedics, and general surgery. As hospitals and clinics strive to provide a wide range of surgical procedures, the versatility of robotic systems makes them significant assets in serving the different demands of patients.

Considered in this report:
• Geography: South Korea
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• South Korea Surgical Robots market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Surgical Robot Function:
• Laparoscopic Robots
• Endoscopic Robots
• Microsurgical Robots
• Robot-Assisted Radiosurgery
• Rehabilitation Robots
• Telepresence Robots

By Product & Services:
• Instrument & Accessories
• Surgical Systems
• Services

By Application:
• Orthopedical Surgery
• Gynecological Surgery
• General Surgery
• Urological Surgery
• Neurosurgery
• Other Applications

By End User:
• Hospitals & Clinics
• Ambulatory Surgery Centers

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Surgical Robots industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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