USD 8.18 Billion
Surgical Robots Market Size, Share, Growth Analysis, By Offering (Instruments & Accessories, Services), By Application (General Surgery, Gynecological Surgery), By End User (Hospitals & Clinics, Ambulatory Surgery Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2209 |
Region:
Global |
Published Date: November, 2024
Pages:
206
|Tables:
90
|Figures:
71
Surgical Robots Market Insights
Global Surgical Robots Market size was valued at USD 10.2 billion in 2022 and is poised to grow from USD 11.9 billion in 2023 to USD 40.32 billion by 2031, growing at a CAGR of 16.50% during the forecast period (2024-2031).
A surgical robot is a kind of medical device that aids surgeons in performing even the most challenging surgical operations with utmost control, precision and flexibility. The global surgical robot market setup comprises a better visualizing camera system, robotic arms bearing specialized surgical instruments at their tips and a control panel which is operated by the surgeon. Technological advancements are driving the global surgical robot market due to their growing adoption by hospitals and decreasing needs for invasive procedures. Compared to traditional methods, they are characterized by increased control, precision and flexibility. This reduces recovery time and has positive outcomes for patients.
Older demographics and long-term illnesses are the forces behind complexities in surgical solutions, the market must develop. The market is growing as major players continue innovating, changing processes and introducing new products. The shortage of doctors and surgeons worldwide along with increasing acceptance of robot-assisted surgery are the main drivers for this market. The growth in the market is also aided by the increasing sums of money that local and foreign businesses are investing in the creation of innovative surgical robots. The growing prevalence of osteoporosis and arthritic conditions, as well as the growing need for hip and knee replacement surgeries, are other major factors expected to fuel the market's growth.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
General Surgery
Fastest Growth
Microsurgery Surgery
Growth Rate
13.4% CAGR
Surgical Robots Market ($ Bn)
Country Share for North America Region (%)
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Surgical Robots Market Segmental Analysis
Global Surgical Robots Market is segmented by Offering, Application, End User, and region. Based on Offering, the market is segmented into Instruments & Accessories, Robotic Systems, and Services. Based on Application, the market is segmented into General Surgery, Gynecological Surgery, Orthopedic Surgery, Urological Surgery, Neurosurgery, Microsurgery, Otological Surgery, and Other Applications. Based on End User, the market is segmented into Hospitals & Clinics, and Ambulatory Surgery Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Offering
As per categorization by offering, the market is classified as instruments & accessories and services. Among these, instruments & accessories earned the largest share and continue to dominate the market. The market for surgical robots worldwide is dominated by Instruments & Accessories Offering due to its superior surgical capabilities, adaptable instrumentation, and ongoing innovation in precise tools. The market is growing due to their recurrent demand, which is fuelled by the necessity for disposable or single-use items and supports innovative minimally invasive operations in a variety of medical specialties.
Services is the fastest-growing segment in the global surgical robotics market is Instruments & Accessories, driven by rising acceptance of robotic surgeries, frequent use, and innovative specialized tool development. Demand for these service consumables is driven by their recurrent nature, and improvements in accuracy and efficiency amplify their contribution to better surgical outcomes.
Analysis by Application
Due to recent advancements in precision robotics and minimally invasive processes that enable difficult surgeries to be performed in a shorter amount of time, the robotic surgical instruments for general surgery sector rules the international market. The market’s growth is being propelled by rising employment of robotic systems in procedures like hernia repair and cholecystectomy and bettering surgical precision and patient outcomes.
As orthopedic surgery is considered the fastest growing segment of global surgical robots market, enhancing precision in joint replacements, spine surgeries and fracture repairs has contributed to its rapid growth. Robotic systems are becoming more and more common in orthopedic treatments across the globe as they increase accuracy, decrease problems, and improve patient recovery.
Surgical Robots Market By Offering
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Surgical Robots Market Regional Insights
Due to its sophisticated healthcare system, high rate of adoption of new medical technology, and substantial investment in R&D, North America now commands the largest share of the global surgical robots market. Essential market players and significant governmental subsidies for health care creativity are helpful to the locality. Increasing healthcare expenses, more demand for less intrusive interventions and developed robotic surgical training programs are the other drivers of growth. In addition to positive reimbursement policies, an increase in the number of chronic diseases requiring surgical procedures has made North America the leading region in the world when it comes to surgical robots.
The desire for new medical technologies, increased healthcare investments, and growing awareness of minimally invasive operations have resulted in the Asia-Pacific region being the fastest-growing market for surgical robots. The region's adoption of robotic procedures is being propelled by factors such as ageing populations, rapid urbanization, and a rising incidence of chronic illnesses. Surgical robotics innovation and local manufacture are being fostered by significant amounts of money spent on healthcare infrastructure and R&D by countries like China, Japan, and India. In addition, affordability in the region as well as a rising medical tourism industry have led to an expansion in the surgical robots market across Asia-Pacific that is drawing in foreign companies.
Surgical Robots Market By Region
- Largest
- Fastest
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Surgical Robots Market Dynamics
Drivers
Rising Demand for Minimally Invasive Surgeries:
- To ensure they have less scarring, are less likely to get infections, spend fewer days in hospital, and recover faster than before, patients want more and more of less invasive surgeries. Surgical robots are very good at achieving the required precision in areas that are challenging like urology, gynecology, and cardiothoracic surgery where conventional techniques can be too invasive or inaccurate.
Technological Advancements in Robotic Systems:
- Artificial Intelligence (AI) for example enhances motion control, haptic feedback among other instruments that have improved the surgery robotic systems. These developments are making it possible for surgeons to carry out increasingly intricate surgeries with greater accuracy and fewer mistakes, which is encouraging a wider uptake in surgical facilities and hospitals across the globe.
Restraints
Ethical Concerns and Regulatory Hurdles:
- Regulatory bodies like the European Medicines Agency (EMA) and the Food and Drug Administration (FDA) in the United States have strict guidelines for the development and use of surgical robots. It can be expensive and time-consuming to comply with stringent requirements, conduct thorough clinical trials, and evaluate safety.
Limited Skilled Workforce:
- Unplanned and prohibitive policies exist regarding the payment for robot-assisted operations that varies significantly among countries and diverse insurance packages in one country. Oftentimes healthcare insurers will reimburse only classic surgical techniques or only partially cover robotic surgery, thus making it less financially viable for both hospitals and patients.
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Surgical Robots Market Competitive Landscape
With major competitors constantly developing technology and growing their market share, the global surgical robotics market is one of the most competitive in the world. Intuitive Surgical, known for its da Vinci system, is one of the leading international companies. A pioneer in robotic arms, Stryker is also included among them. Medtronic acts as a provider of surgical systems that are robotic assisted via HugoTM technology. Zimmer Biomet is recognized as ROSA® Robotics’ leader. All these organizations contend based on creativity, precision and integration driving innovative robot-based devices for various surgical procedures.
Top Player’s Company Profiles
- Intuitive Surgical (US)
- Stryker (US)
- Medtronic (Ireland)
- Smith+Nephew (UK)
- Zimmer Biomet (US)
- Asensus Surgical Inc. (US)
- Siemens Healthineers AG (Germany)
- Renishaw PLC (UK)
- CMR Surgical (UK)
- Think Surgical Inc. (US)
- Corin Group (UK)
- Microsure (Netherlands)
- Titan Medical Inc. (Canada)
- Avateramedical N.V.
- Medical Microinstruments (Italy)
- Medicaroid Corporation (Japan)
- Brainlab AG (Germany)
- Ecential Robotics (Italy)
- Globus Medical, Inc. (US)
- Johnson & Johnson (US)
- Momentis Innovative Surgery Ltd. (Canada)
- Tinavi Medical Technologies Co., Ltd. (China)
- Distalmotion (Switzerland)
- Monteris (Canada)
- Novus Saglik Urunleri AR-Ge Danismanlik (Turkey)
Surgical Robots Key Market Trends
- Surge in Adoption of Robotic Assisted Minimally Invasive Surgeries: In the global surgical robotics market, a significant movement is towards robotically supported minimally invasive procedures. This is attributable to the fact that robotic systems are obtaining more and more acceptance by surgeons as they carry out complex procedures in a more precise manner which leads to shorter recovery time. This trend is influenced by patient’s demand for less invasive methods as well as advancements in robotic technologies to enhance surgical outcomes.
- Integration of AI and Machine Learning in Surgical Robotics: A big step forward for the surgical robotics industry is the merger of machine learning and AI. These advancements enhance the potential of robotic systems through real-time data analysis, improved surgical accuracy, and use of predictive analytics to yield better outcomes for patients. Robotic systems are becoming more productive and efficient due to the integration of AI-driven features, which are revolutionizing surgical planning and execution.
Surgical Robots Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the rapidly expanding market for surgical robots is due to remarkable technological advancements and increase in demand for minimally invasive surgeries. Surgical robots enhance control, accuracy, and versatility, thus shortening recovery time and improving patient outcomes through camera systems, robotic arms, and control panels. The ageing population, the frequency of chronic diseases, and significant expenditures in cutting-edge treatments are the main drivers of market growth.
The section known as Instruments & Accessories is especially well-known due to its sophisticated features and consistent demand. Expansion is being driven by regional leaders such as North America and the constantly expanding Asia-Pacific region. The market is expected to expand significantly despite obstacles including high costs and requirements from regulations.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.2 billion |
| Market size value in 2031 | USD 40.32 billion |
| Growth Rate | 16.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Surgical Robots Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Surgical Robots Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Surgical Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Surgical Robots Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Surgical Robots Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Surgical Robots Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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