Surgical Robotics Market Size to Reach USD 11.94 Billion in 2028 | Industry Trend - Growing Preference for Minimally Invasive Surgeries and Introduction of Advanced Surgical Tools

Emergen Research has published its latest report titled “Surgical Robotics Market, By Type (Neurosurgery, Spinal surgery, ENT Surgery, Orthopedic Surgery, Robotic Radiosurgery Systems, Others), By Application (Pediatrics, Adults, Geriatrics), By End-use (Hospitals, Ambulatory Care Centers, Others), and By Region Forecast to 2028”

According to Emergen Research, the global surgical robotics market size was USD 2.04 billion in 2020 and is expected to reach USD 11.94 billion in 2028 and register a revenue CAGR of 24.6% during the forecast period, 2021-2028.

Market Dynamics:

Revenue growth of the global surgical robotics market is attributed to factors such as rapidly growing geriatric population and increasing prevalence of orthopedic, cardiovascular, gynecological, urological, and neurological disorders across the globe. Rising patient pool, increasing volumes of surgeries, increasing preference for minimally invasive surgical procedures, and growing demand for robot-assisted surgeries due to significant advantages over the conventional procedures are among the other major factors accounting for robust revenue growth of the global market. Surgical robots are very small surgical tools attached to a robotic arm that is controlled by a computer device. These are used by surgeons to perform complex surgical procedures with greater control and precision. Key advantages associated with surgical robots include smaller incisions, reduced pain, decreased scarring, enhanced safety, faster recovery, better efficiency, and higher cost-effectiveness.

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Other factors expected to further drive market revenue growth are rapid adoption of automated surgical tools and instruments, technological advances in surgical robots – such as the integration of high-definition cameras, sensors, 3D imaging technology, remote navigation systems, and robotic-controlled catheters – and increasing government & private funding for  research & development activities in the field of surgical robotics.  

COVID-19 Impact Analysis:                                                                                                                                                  

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants  continue to cause concerns and impact normal routines

Neurosurgery Segment Accounted for Largest Revenue Share in 2020:

Based on type, the global surgical robotics market is segmented into Neurosurgery, Spinal surgery, ENT Surgery, Orthopedic Surgery, Robotic Radiosurgery Systems, and Others. The neurosurgery segment dominated other segments in terms of revenue share in the global market in 2020. Rising prevalence of neurological conditions – mainly among the geriatric population – and increasing deployment of surgical robots in neurosurgical procedures for higher precision and accuracy are among the key factors driving this segment’s revenue growth.

Ambulatory Surgical Centers Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global surgical robotics market is segmented into Hospitals, Ambulatory Surgical Centers, and Others. The ambulatory surgical centers segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising patient pool, increasing volumes of robot-assisted surgeries, growing adoption of advanced surgical robotics in ambulatory surgical centers, and rapidly advancing healthcare infrastructure are major factors expected to boost revenue growth of this segment.

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North America Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America surgical robotics market led in terms of largest revenue share in the global market in 2020. Rise in geriatric population, growing prevalence of orthopedic, cardiovascular, neurological, and urological disorders, rising demand for minimally invasive surgeries, increasing use of robotic surgical equipment in hospitals and ambulatory surgical centers, and presence of key market players in the region, including Intuitive Surgical, Stryker Corporation, and Zimmer Biomet, are among the key factors supporting revenue growth of the regional market.

Major Companies in the Global Surgical Robotics Market Include:

  • Medrobotics
  • Procept BioRobotics
  • Verb Surgical
  • DePuy Synthes
  • BrainLab
  • Titan Medical
  • Zimmer Biomet
  • Globus Medical
  • Auris Health
  • TransEnterix
  • Globus Medical
  • CMR Surgical
  • Getinge
  • Blue Belt Technologies
  • ELMED Medical

For the purpose of this report, Emergen Research has segmented the global surgical robotics market on the basis of type, application, end-use, and region:

Type Outlook (Revenue: USD Billion; 2018-2028)

  • Neurosurgery
  • Spinal surgery
  • ENT Surgery
  • Orthopedic Surgery
  • Robotic Radiosurgery Systems
  • Others

Application Outlook (Revenue: USD Billion; 2018-2028)

  • Pediatrics
  • Adults
  • Geriatrics

End-use Outlook (Revenue: USD Billion; 2018-2028)

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

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Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2030

Chapter 3. Key Insights

Chapter 4. Surgical Robotics Market Segmentation & Impact Analysis

    4.1. Surgical Robotics Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers’ analysis

          4.2.3. Market restraints analysis

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Continued…

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