Global Surgical Robots Market Size By Component (Robot Systems, Instruments & Accessories, Robotic Systems, and Services), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, And Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Centers [ASCs] And Other End-Users), and by Region - Forecast, 2023-2032

Report Overview

The Global Surgical Robots Market size is expected to be worth around USD 19.4 Billion by 2032 from USD 7.8 Billion in 2022, growing at a CAGR of 9.80% during the forecast period from 2023 to 2032.

Due to the rising complexity of surgical procedures for challenging diseases and the growing preference for minimally invasive surgery, robots have grown in significance in the field of surgical interventions. This research agency emphasizes surgical robot innovations and technological advancements. Analyses are also done on the R&D network that is fueling the medical robot industry’s expansion.

According to the study, the surgical robot industry’s innovation ecosystem is made up of a variety of businesses, academic institutions, government agencies, and research centers that work together to promote discoveries. The surgical robot industry’s drivers, challenges, and enabling technologies are all covered by the study service. The article focuses on new technologies that are expected to alter the way we think about surgical robots. It also provides a comprehensive strategic analysis of the industry environment and recommendations for the future of surgical robots.

Driving Factors

Technological Advancements: Recent advances in robotic technology, such as miniaturization, increased precision, and better visualization, have made surgical robots more dependable and efficient.

Aging Population: The global aging population has led to an increase in chronic diseases that require surgical intervention. Utilizing surgical robots can help reduce the risk of complications and shorten recovery times for elderly patients.

Rising Demand for Minimally Invasive Surgery: Minimally invasive surgeries are becoming more and more popular due to their reduced risk of infection, shorter recovery time, and lower cost. Surgical robots are especially helpful in these procedures due to their higher precision and control.

Governments and healthcare providers are investing more in healthcare infrastructure and technologies, such as surgical robots, to enhance patient quality of care and outcomes.

Market Restraints

The initial investment required to purchase and install surgical robots is quite expensive, making it prohibitive for smaller hospitals or clinics to invest in the technology. As a result, only larger institutions with deeper pockets can justify investing in them. Surgical robots are medical devices and must comply with stringent regulatory requirements. Acquiring regulatory approvals can be a lengthy and complex process, which could delay the adoption of surgical robots. Utilizing surgical robots necessitates specialized training, and not all surgeons possess the necessary skills. This limits who can perform robotic surgeries, meaning it could take some time before there are enough trained surgeons available to make surgical robots more widely accessible.

While there is some evidence to suggest surgical robots may improve patient outcomes, there is not yet sufficient comprehensive clinical proof to back their use. This makes it difficult for hospitals and clinics to justify the high cost of acquiring and maintaining surgical robots. Many surgical procedures can still be completed using traditional methods, which tend to be cheaper and require fewer specialized skills. As a result, some hospitals and clinics may opt to stick with more cost-effective alternatives rather than investing in surgical robots.

Market Opportunities

Patients are increasingly seeking minimally invasive surgeries, which offer smaller incisions, reduced pain, and faster recovery times. Studies have demonstrated the effectiveness of surgical robots when performing these operations, creating a significant market opportunity for the industry. As more hospitals and clinics invest in surgical robots, the market for these devices continues to expand. Recently, more hospitals and clinics have invested in surgical robots which has driven down costs and expanded accessibility.

The surgical robot industry is constantly progressing, with new and improved technologies developed to further expand its capabilities. This presents companies with an opportunity to innovate and create products tailored to patients’ and surgeons’ evolving needs. As the global population ages, an increasing number of people require medical care. This has created a demand for surgical robots, as these devices enable surgeons to perform surgeries with greater precision and accuracy. Healthcare spending worldwide is on the rise, as governments and private organizations invest more in healthcare services and technologies. This presents the surgical robot industry with an opportunity to expand and create new products and services.

Market trends

Surgical robot applications have grown beyond traditional specialties like urology, gynecology, and general surgery. Now they are being utilized in orthopedics, neurology, and cardiology as well. As artificial intelligence and machine learning are integrated into surgical robots, they are becoming smarter and more intuitive.

These technologies have the potential to improve surgical outcomes while reducing complications by providing real-time feedback and decision support to surgeons. The surgical robot market is highly competitive, with several established players and new entrants competing for market share. As a result, companies are forming partnerships and collaborations to develop innovative products and technologies.

By Component Analysis

By the Component analysis, the instrument and accessories segment dominates the market, with 47% market share.

The robotic systems market is divided into robot systems, instruments, and accessories based on component types. Advanced features like 3D-HD visualization and various surgical instruments used frequently during surgery are both included in robotic systems. By utilizing their visualization and magnification capabilities, robotic systems not only assist doctors in diagnosing the issue but also facilitate crucial surgical procedures – propelling industry growth. Furthermore, using robotic systems significantly reduces mistakes and post-operative issues which further fuels demand in this space.

Application Analysis

By the application analysis, the Gynecologic surgery segment dominates the market with a 36% market share in 2022 and had a profitable CAGR over the forecast period.

The surgical robots market is segmented based on applications, such as gynecologic surgery, general surgery, cardiac surgery, urologic surgery, colorectal surgery, and head and neck surgery. the Gynecologic surgery segment dominate the market with a 36% market share in 2022 and had a profitable CAGR over the forecast period, due to technological advancements in this area that allow surgeons to perform less invasive surgeries. Furthermore, hospitals and other healthcare facilities are expected to expand over this time due to increased purchasing power.

End User Analysis

By end-User analysis, the hospital’s segment dominates the market with a 68% market share in 2022.

The surgical robots market is segmented based on End Users, with hospitals holding the majority share in 2022 due to growing healthcare expenditures across various economies. Furthermore, hospitals are equipped with advanced surgical robots for improved quality care and patient outcomes; according to an NCBI study, 23 out of 73 hospitals have performed robotic-assisted surgery which is expected to rise. Therefore, rising numbers of inpatient visits and surgical procedures drove growth within this segment.

Key Market Segments:

By Component

• Surgical Instruments & Accessories
• Robotic Systems
• Services

By Application

• Orthopaedic
• Obstetrics & Gynaecological
• Cardiovascular & Thoracic
• Urology
• General Surgery
• Other Applications

By End User

• Hospitals
• Ambulatory Surgical Centres
• Other end-user

COVID-19 Impact Analysis

The pandemic caused delays in elective surgeries resulting in decreased demand for surgical robots. Though, as healthcare systems return to normal after the crisis, the backlog of uncompleted surgeries is expected to drive up demand for these tools again. Tele operable surgical robots with teleoperation capabilities allow surgeons to remotely perform procedures, likely increasing demand for these devices in the future. Unfortunately, the pandemic has disrupted supply chains around the world, leading to delays in production and delivery of surgical robots.

Due to this, prices and lead times for surgical robots have gone up, particularly in endoscopic and laparoscopic procedures. As a result, there has been an uptick in demand for these devices in certain regions. The pandemic has underscored the necessity of infection control in healthcare settings. Surgical robots, which can reduce personnel needs in operating rooms and lower risks of contamination, will likely become even more important in the post-pandemic world.

Regional Analysis

By the regional analysis, North America dominates the market with a 59% market share.

The global market for surgical robots is mainly concentrated in developed regions such as North America, Europe, and Asia Pacific. The market is expected to grow significantly in the coming years, driven by increasing awareness of the disease, advancements in treatment options, and rising prevalence. North America is the leading market for surgical robots, with the United States playing a major role in its growth.

The market is being fuelled by factors such as the high adoption rate of technologically advanced surgical systems, increasing awareness about robotic surgeries, and rising healthcare expenditure. Europe is the second-largest market for surgical robots, with countries like Germany, France, and the UK playing an important role. The market is being driven by factors such as increasing demand for minimally invasive surgeries, an expanding number of surgical procedures, and an aging geriatric population. The Asia-Pacific region is experiencing rapid growth in the surgical robot market, driven by factors such as an increasing number of procedures, rising healthcare expenditure, and a growing preference for minimally invasive surgeries.

China, Japan, and India are major drivers of growth in this market. Latin American surgical robot demand has been rising steadily due to factors such as increased adoption of advanced surgical technologies, rising healthcare expenditure, and an increasing number of procedures. Furthermore, the Middle East also has a small but rapidly developing market for surgical robots due to chronic diseases’ increasing prevalence, rising healthcare expenses, and greater awareness about their benefits.

Key Regions and Countries Covered in this Report:

• North America
• The U.S.
• Canada
• Mexico
• Europe
• The U.K.
• Germany
• France
• Italy
• Spain
• Netherlands
• Sweden
• Denmark
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• New Zealand
• Taiwan
• Hong Kong
• Singapore
• Thailand
• Vietnam
• Central & South America
• Brazil
• Argentina
• Chile
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Egypt
• Qatar

Market Share & Key Players Analysis:

The surgical robot market is expected to expand rapidly over the coming years, driven by an increase in minimally invasive surgeries and advances in robotic technologies. Intuitive Surgical holds the majority share of this market with their da Vinci Surgical System, accounting for 75% of the global share. Stryker Corporation and Zimmer Biomet are other major players within this space with respective market shares of 10% and 5%. Other players in the market, such as Medtronic, Smith & Nephew, TransEnterix, Auris Health, and Verb Surgical have smaller market shares but are expected to expand with new and innovative products being released over time. Overall, competition within this highly competitive space is fierce with several established players and numerous new entrants fighting for a share of revenue.

Market Key Players:

The surgical robot market is a fiercely competitive space with several major players. Some of the prominent companies operating in this space 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 Surgical Robotics, Inc. (Hansen Medical Inc.)
• Intuitive Surgical, Inc.
• KUKA AG
• Stryker Corporation (MAKO Surgical Corp.)
• Mazor Robotics
• Other players

Recent Developments:

In August 2021, Medtronic, a leader in medical technology, expects to meet some significant regulatory milestones regarding its soft-tissue robot. CEO Geoff Martha stated during an earnings call that the firm is on track for obtaining CE mark approval and anticipating FDA rejection for this long-awaited surgical robot.

In February 2022, Kenova announced the signing of a five-year contract extension with Auras Health. Under this arrangement, Kinova will assist Auris in developing its Monarch robotic-assisted surgery platform.

In November 2021, Merck & Co. announced its collaboration with Synthekine Inc. to use the latter firm’s surrogate cytokine agonist technology for the discovery, development, and commercialization of novel cytokine therapeutics. Under the agreement, Synthekine will carry out initial research efforts while Merck gets exclusive rights to create, manufacture, and market surrogate cytokine agonists for up to two targets – with autoimmune disease as one potential therapeutic area – under one umbrella agreement between both companies.

Report Scope: