Next Generation Surgical Robotics Market Size To Surpass US$ 10.8 BN By 2030

The global Next Generation Surgical Robotics market size was estimated at USD 2.6 billion in 2021 and is expected to surpass around USD 10.8 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 35.14% during the forecast period 2022 to 2030.

The global Next Generation Surgical Robotics market size was estimated at USD 2.6 billion in 2021 and is expected to surpass around USD 10.8 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 35.14% during the forecast period 2022 to 2030.

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This growth is primarily due to the increasing prevalence of chronic disorders, elevating the global population coupled with the geriatric population, favorable reimbursement policies in developed economies, and increasing investments to develop advanced robotic platforms. However, several factors, such as a shortage of skilled professionals and restrictive regulatory framework, are the primary obstacle hindering the growth of the global next-generation surgical robotics market.

The global next-generation surgical robotics market is anticipated to gain significant traction in the future. Several key players are engaging in developing advanced surgical robotics, testing the capabilities of miniaturization, autonomous, and telesurgery technologies.

The market for next-generation surgical robotics is at a nascent stage, with only two companies having commercialized offerings. The rest of the products by other companies are still in the investigational phase and is expected to launch during the forecast period, 2020-2030.

The factors, such as increasing awareness about the advantages of surgical robotics coupled with the improving healthcare infrastructure in several economies and increasing investments & funding within the surgical robotics domain, is expected to bolster the growth of next-generation surgical robotics market.

Report Scope of the Next Generation Surgical Robotics Market

Report Coverage

Details

Market Size in 2022

USD 3.05 Billion

Market Size by 2030

USD 10.8 Billion

Growth Rate from 2022 to 2030

CAGR of 35.14%

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Component, Technology, Surgery Type, End User and Geography

Companies Mentioned

Medrobotics, Renishaw plc., TransEnterix Surgical, Inc., Intuitive Surgical, Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Next generation surgical robotics, Inc. (Hansen Medical Inc.), Intuitive Surgical, Inc., KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Mazor Robotic

 

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 Segmental Insights

Surgery Type Insights

On the basis of the surgery, the neurosurgery segment is expected to grow at the fastest rate during the forecast. There is great amount of adoption of robotics in neuro surgeries. Over the traditional techniques. Technological advancements and the use of robotics in neuro Surgeries have successful outcomes. The use of automated robotic instruments in brain surgeries will help in the growth of the market.

The orthopedic surgery segment has the good position in the market as there are many injuries caused due to bike and road accidents or any other accidents that need surgeries. Arthritis, joint pains and other reasons for correcting the bones are expected to help in the growth of the market. There's an increased use of robotics for treatment of cancer. For minimally invasive laparoscopic surgeries the demand for robotics has increased in the recent years.

Component Insights

The component, the accessory segment has dominated the global next generation surgical robotics market. Due to an extensive use of accessories for the surgical procedures. The Services segment is also expected to grow well due to a rise in the robot assisted surgeries across the nations. Increase in the geriatric population and chronic diseases like diabetes, arthritis and HIV AIDS leads to the growing use of robotics.

End User Insights

On the basis of the end user, the next generation surgical robotics market is expected to grow in the hospital segment. In the coming years, there shall be an increase in the demand for surgical reports at various hospitals settings and it will offer a lucrative market growth. Next generation surgical robotics at the hospital settings will be able to help with effective patient care. The high number of inpatient visits and increasing surgical procedures at the hospital will lead to the growth in the market. Larger and better hospital infrastructure along with the skilled healthcare personnel available at this infrastructure will help in changing the scenario in various emerging economies.

Region Insights

In the previous year, the North American market had the largest revenue share of about 50%. The adoption of automated surgical instruments in the health care industry and the increasing health care facilities in the United States will drive the market in this region. The smaller number of healthcare professionals and surgeons in the US depending upon the patient population will also drive the regional market for next generation surgical robotics. Chronic illnesses like diabetes, cancer and the cardiovascular diseases have led to an acceleration growth of the market.

Growing population and increasing adoption of advanced automated surgical devices in the Asia Pacific region will help in the growth of the market. The adoption of advanced medical technology and availability of modern health care infrastructure has led to a growth in the Asia Pacific region. Investors are investing in automated instruments and this is expected to help in the growth of the market. Growing awareness of robotics in surgery and the higher acceptance rate of the next generation surgical robotics in this region, the market is expected to grow.

Some of the prominent players in the Next Generation Surgical Robotics Market include:

  • Medrobotics
  • Renishaw plc.
  • TransEnterix Surgical, Inc.
  • Intuitive Surgical
  • Medtronic plc
  • THINK Surgical Inc.  
  • Zimmer Biomet Holdings Inc.
  • Smith & Nephew Plc. (Blue Belt Technologies, Inc.)   
  • Auris Next generation surgical robotics, Inc. (Hansen Medical Inc.)
  • Intuitive Surgical, Inc.
  • KUKA AG
  • Stryker Corporation (MAKO Surgical Corp.)
  • Mazor Robotics

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Next Generation Surgical Robotics market

By Component

  • Systems
  • Accessories
  • Services

By Technology

  • Miniaturized Surgical Robotics
  • Autonomous Surgical Robotics
  • Teleoperated Surgical Robotics 

By Surgery Type

  • Gynecology Surgery
  • Urology Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • General Surgery
  • Other Surgeries

By End User

  • Hospitals
  •  Ambulatory Surgical Centers
  • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Next Generation Surgical Robotics industry analysis from 2022 to 2030 to identify the prevailing Next Generation Surgical Robotics industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Next Generation Surgical Robotics industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Next Generation Surgical Robotics industry trends, key players, market segments, application areas, and market growth strategies.

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