Surgical Robots Market to be Worth $25.47 Billion by 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®
With benefits such as greater control, flexibility, and precision, demand for surgical robots is expected to increase at a higher rate.
REDDING, Calif., Feb. 27, 2023 /PRNewswire/ -- According to a new market research report titled, "Surgical Robots Market by Product & Service (Surgical Instruments & Accessories, Robotic Systems, Services), Application (Orthopedic, Obstetrics & Gynecological, Cardiovascular & Thoracic, Urology, General Surgery), and End User - Global Forecast to 2030", published by Meticulous Research®, the surgical robots market is projected to reach $25.47 billion by 2030, at a CAGR of 15.4% during the forecast period 2023–2030.
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Surgeries with the assistance of robots enable precision even in hard-to-reach areas with less downtime. Robotic surgery systems can be used for obstetrics and gynecology, orthopedic, cardiothoracic, urology, and many more applications. These robotic systems are mostly preferred to perform minimally invasive surgeries due to their precise operating capabilities. With benefits such as greater control, flexibility, and precision, demand for surgical robots is expected to increase at a higher rate.
The Advantages Associated with the Robot-Assisted Surgery Drive the Growth of the Surgical Robots Market
The advantages of robot-assisted surgeries over conventional surgical methods are primarily triggering the use of surgical robots in several complex surgical processes. One of the major advantages is accuracy in implant placements. Other advantages, such as better hand & eye coordination, improvement in visualization, ergonomic positioning, and less invasive methods, also largely support the adoption of surgical robots in hospitals and ambulatory surgical centers. Furthermore, hospitals around the world are shifting their strategies to focus on minimally invasive surgeries rather than open surgeries to improve overall treatment outcomes, which in turn supports the adoption of surgical robots.
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The global surgical robots market study is segmented by product & service (surgical instruments & accessories, robotic systems & services), application (orthopedic, obstetrics & gynecological, cardiovascular & thoracic, urology, general surgery, and other applications), end user (hospitals and ambulatory surgical centers), and geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.
Based on product & service, in 2023, the instruments & accessories segment is expected to account for the largest share of the surgical robots market. Factors such as the increase in robotic surgical procedures, product launches by key market players, and the growing need for advanced surgical instruments for complex surgical procedures are primarily supporting the large market share of this segment.
Based on application, in 2023, the orthopedic surgery segment is expected to account for the largest share of the global surgical robots market. The large market share of this segment is mainly attributed to the increasing need for robotic assistance for complex joint replacement surgical procedures. Orthopedic surgeries are done with the assistance of robots for several benefits, such as smaller and less invasive scars, precise implantation, and reduced operation time compared to traditional surgical processes. Moreover, robotically replaced joints have a longer lifespan and lower failure rate. Furthermore, the increase in musculoskeletal diseases such as osteoporosis, osteopenia, osteoarthritis, and traumatic fractures also supports the adoption of surgical robots. According to a World Health Organization (WHO) 2022 report, musculoskeletal conditions affect approximately 1.71 billion people in the world. This number is expected to increase during the forecast period, likely supporting this segment's growth.
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Based on end user, in 2023, the hospitals segment is expected to account for the largest share of the global surgical robots market. The increasing application of surgical robots in a wide range of common surgical procedures is primarily increasing the demand for robotic systems in hospitals. In addition, patients' growing preference for robot-assisted surgeries, increasing funding to hospitals for advanced surgical systems, and availability of well-developed infrastructure are also supporting the growth of this segment.
Based on geography, in 2023, North America is expected to account for the largest share of the surgical robots market, followed by Europe and Asia-Pacific. The large market share of North America is primarily attributed to the well-established healthcare infrastructure in the U.S. and Canada, the availability of skilled medical professionals, and a growing preference for advanced surgical systems by surgical professionals. In 2023, the U.S. is expected to account for the largest share of the surgical robots market in North America. Market growth in this country is primarily driven by the growing use of surgical robots for general surgeries in the U.S., high healthcare expenditure, and the presence of major market players.
Some of the key players operating in the global surgical robots market are Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Medtronic plc (U.S.), Smith & Nephew plc (U.K.), Zimmer Biomet Holdings, Inc. (U.S.), Johnson & Johnson Services, Inc.(U.S.), Asensus Surgical Inc.(U.S.), THINK Surgical, Inc. (U.S.), Renishaw plc, (U.K.), Siemens Healthineers AG (Germany), and CMR Surgical (U.K.).
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Scope of the Report
Surgical Robots Market, by Product & Service
- Surgical Instruments & Accessories
- Robotic Systems
- Services
Surgical Robots Market, by Application
- Orthopedic
- Obstetrics and Gynecological
- Cardiovascular & Thoracic
- Urology
- General Surgery
- Other Applications
Note: Other application includes head & neck and ophthalmology.
Medical Robots Market, by End User
- Hospitals
- Ambulatory Surgical Centers
Medical Robots Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLA)
- Middle East & Africa
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