According to Vision Research Reports, the global Surgical Robots market size is expected to be worth around US$ 9.30 billion by 2030.
According to Vision Research Reports, the global Surgical Robots market size is expected to be worth around US$ 9.30 billion by 2030.
The global Surgical Robots market size was valued at US$ 2.05 billion in 2020 and is anticipated to grow at a CAGR of 22.5% during forecast period 2022 to 2030.
Key Takeaway
- North America surgical robots market is expected to grow at 17.8% CAGR during the forecast period
- The hospital segment was accounted at USD 3.8 billion in 2021
- The orthopedic surgery segment accounted USD 748 million market size in 2021
- The instruments & accessories segment is projected to grow at a 18% CAGR from 2022 to 2030
- North America held the largest revenue share of over 51% in 2021
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Growth Factors
Increasing demand and acceptance of laparoscopic or minimally invasive surgery (MIS) is due to the benefits to patients and surgeons, such as better screening, greater precision, shorter hospitalization, reduced pain and discomfort, reduce the risk of infection, reduced blood flow and transfusion. In addition, the increasing number of gynecological, neurological and urological diseases is the main factor that drives the growth of the surgical robots market. Moreover, the introduction of new and sophisticated robots will meet the growing needs of end users.
The key factors boosting the surgical robots market size are increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries. However, the high cost associated with surgical robotic surgeries & robotic systems will hamper the medical robots market. Additionally, the rise in death toll and injuries due to robotic surgeries will also impede the growth of surgical robots market. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative opportunities in the surgical robots market.
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Application Insights
The others segment dominated the market in 2021 with a revenue share of over 31%. Based on application, the market is segmented into urology, orthopedics, neurology, gynecology, and others. The others segment includes surgical robots that are used in oncology, laparoscopy, and various other general surgical procedures. Growing usage of robots for cancer treatment procedures and increasing demand for minimally invasive laparoscopic surgeries are the major factors fueling the growth of the segment.
The neurosurgery segment is expected to expand at the fastest growth rate over the forecast period. The rising adoption of robots in neurosurgeries owing to benefits provided by surgical robots over traditional techniques of surgery is anticipated to boost the growth of the segment at a substantial rate. Moreover, technological advancements, coupled with successful outcomes from robotic neurosurgery, are expected to fuel the growth of the segment over the years. Growing usage of automated robotic instruments in brain surgeries is also expected to drive the segment. For instance, in 2019, according to an article published in Robotics Industries Association (RIA), 5G technology and robotic assistance were used to carry out brain surgery. Such activities signify the potential growth of the neurosurgery segment.
Regional Insights
North America held the largest revenue share of over 51% in 2021. Increasing next-generation healthcare facilities in the U.S., coupled with the growing adoption of automated surgical instruments, are driving the market in this region. Besides, the shortage of healthcare professionals and surgeons as per the patient population in the U.S. is also expected to drive the regional market. Moreover, the increasing number of chronic disorders such as cancer, diabetes, and cardiovascular diseases in the U.S. is accelerating the adoption of automated surgical equipment, which, in turn, is driving the market in this region.
The Asia Pacific region is anticipated to grow at a lucrative rate over the forecast period owing to the growing patient population and increasing adoption of advanced automated surgical instruments. In addition, growing awareness to adopt advanced medical technology, coupled with increasing modern healthcare facilities, is anticipated to boost the market growth in the region. Furthermore, increasing government initiatives to develop advanced healthcare infrastructure attract foreign investors to invest in automated instrument developments, which is anticipated to fuel the market growth in this region over the forecast years.
Key Players
- Smith & Nephew Plc. (Blue Belt Technologies, Inc.),
- Auris Surgical Robotics, Inc. (Hansen Medical Inc.),
- Intuitive Surgical, Inc.,
- KUKA AG,
- Stryker Corporation (MAKO Surgical Corp.),
- Mazor Robotics,
- Renishaw plc,
- Medtronic plc,
- THINK Surgical Inc.,
- Zimmer Biomet Holdings Inc.
Market Segmentation
By Component
- Systems
- Accessories & Consumables
- Services
By Application
- Orthopedics
- Knee
- Hip
- Spine
- Others
- Neurology
- Urology
- Gynecology
- Others
By End-user
- Hospitals
- Ambulatory Surgical Centers
By Method
- Minimally Invasive Surgery
- Open Surgery
Regional Outlook
-
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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