Surgical Robots Market Size & Growth Analysis to 2030

The global surgical robot market size is anticipated to register a higher CAGR of around 22% during the forecast period 2021 to 2027 and was valued at over USD 2 billion in 2020. The rising adoption of minimally invasive surgeries due to benefits associated with it such as cost-effective and shorter hospital stay is a major factor to drive the market growth. The increasing interest of some major players and technological advancement is further expected to boost the market growth. Moreover, the rising adoption of robot-assisted surgeries and continuous research and development in robotic surgeries is projected to uplift the market over the forecast period.

Market Drivers:

Advancements in Robotic Technology: Continuous advancements in robotic technology, including miniaturization, improved precision, and enhanced imaging capabilities, have expanded the possibilities for surgical procedures. Surgical robots offer increased dexterity, stability, and accuracy, allowing surgeons to perform complex procedures with improved outcomes. The evolving capabilities of robotic systems drive the adoption of surgical robots in various surgical specialties.

Demand for Minimally Invasive Surgeries: Minimally invasive surgeries offer several benefits over traditional open surgeries, including reduced trauma, shorter hospital stays, faster recovery times, and reduced post-operative complications. Surgical robots enable surgeons to perform minimally invasive procedures with enhanced precision and control, thereby driving the demand for robotic-assisted surgeries.

Growing Aging Population: The global population is aging, with an increasing number of elderly individuals requiring surgical interventions. The aging population often has complex medical conditions and requires precise and tailored surgical procedures. Surgical robots provide a valuable tool for performing delicate and complex surgeries in older patients, driving the demand for robotic-assisted surgeries.

Surgeon Training and Skill Enhancement: Surgeons require specialized training to operate surgical robots effectively. However, once trained, surgeons can benefit from enhanced visualization, improved ergonomics, and increased precision during procedures. The growing availability of training programs and the desire to acquire new skills and expertise among surgeons contribute to the adoption of surgical robots.

Advantages of Robotics in Telemedicine and Remote Surgery: Robotic technology enables telemedicine and remote surgery, allowing surgeons to perform procedures on patients located in distant locations. This capability is particularly valuable in areas with limited access to specialized surgical expertise. The potential for telemedicine and remote surgery drives the adoption of surgical robots, expanding the reach of healthcare services.

Rising Demand for Automation and Efficiency in Healthcare: The healthcare industry is increasingly adopting automation and technology-driven solutions to improve efficiency, reduce errors, and enhance patient outcomes. Surgical robots contribute to these goals by streamlining surgical procedures, reducing surgical time, and providing better visualization. The growing demand for automation and efficiency in healthcare fuels the adoption of surgical robots.

Cost-Effectiveness and Return on Investment: While surgical robots require a significant initial investment, they offer long-term cost-effectiveness. Robotic-assisted surgeries can result in shorter hospital stays, reduced complications, and faster recovery times, which can lead to cost savings in the long run. Hospitals and healthcare systems recognize the potential return on investment associated with surgical robots, driving their adoption.

Regulatory Support and Reimbursement Policies: Regulatory agencies and healthcare reimbursement bodies in several countries have approved and provided reimbursement for certain robotic-assisted surgical procedures. Supportive regulatory frameworks and favorable reimbursement policies for robotic-assisted surgeries encourage hospitals and healthcare providers to invest in surgical robots, driving market growth.

Market Outlook:

Market Insights:

The global surgical robots market is bifurcated into application, end-use, and geography. On the basis of application, the market is further segmented into gynecological surgery, urological surgery, neurosurgery, orthopedic surgery, and others. The neurosurgery segment is accounted to grow at a significant growth rate over the forecast period due to the increasing prevalence of stroke, neurological dysfunction, and brain aneurysm. Furthermore, the increasing use of surgical robots to treat patients suffering from brain-related conditions and tumors is expected to drive the segment growth.

By end-use, the market is segmented into hospitals and ambulatory surgery centers. The ambulatory surgery centers segment dominated the global surgical robots market in 2020 and expected to maintain its dominance over the forecast period. The segment’s growth is driven by factors such as cost-effectiveness and no hospitalization of patients. Data from a study conducted by Healthcare Bluebook, an information provider for healthcare facilities, suggested it helps it save around USD 38 billion annually with its low-cost operations.

To know more about the report, request sample papers

The surgical robot comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The surgical robot market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Application:

• Gynecological Surgery
• Urological Surgery
• Neurosurgery
• Orthopedic Surgery
• Others

By End-Use:

• Hospitals
• Ambulatory Surgery Centers (ASCs)

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the surgical robot market report comprises dedicated sections centering on the regional market revenue and trends. The surgical robot market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The surgical robot market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Surgical robot market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Market Competition Assessment:

Some of the major players operating in the global surgical robot market are Smith and Nephew, Medrobotics Corporation, Intuitive Surgical,  TransEnterix, Inc., and Medtronic. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Smith and Nephew
• Medrobotics Corporation
• Intuitive Surgical
• TransEnterix, Inc.
• Medtronic
• Renishaw, plc
• Stryker Corporation
• Zimmer Biomet
• Think Surgical, Inc.

Key Questions Answered by Surgical Robot Market Report

• Global surgical robot market forecasts from 2021-2027
• Regional surgical robot market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Surgical robot submarket forecasts from 2021-2027 covering the market by application, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the surgical robot market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level surgical robot markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the surgical robot market