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Detailed overview of surgical robot market

Computer-controlled devices for laparoscopic and minimally invasive (MI) surgery are referred to as surgical robots. These robots are made up of an exact representation of the body parts provided by a magnification high-definition 3-D camera mounted at the end of the robotic arm. Using miniature surgical devices that can fit through tiny wounds, they can execute complex surgeries by mimicking surgeons’ hand movements. These robotic procedures are less painful than conventional ones, heal more quickly, and have a lower risk of infection and scarring.

The market worth of surgical robots in 2021 was USD 5.16 billion and will be worth USD 20.98 billion by 2030, growing at a 16.84% CAGR. 

Growth Factors

The market for surgical robots is predicted to expand as a result of the aging population, technical advancements, and a greater emphasis on the robotics training offered to physicians. Because of the introduction of technology such as artificial intelligence and cloud computing, there will be a significant innovation in the robotics field, which will aid in improving output and decreasing the workload for humans. The surgical robot market will expand. The patients are aware of the advantages of such procedures they opt for this type of surgery. It offers high precision, improved screening, a shorter hospital stay, a lower risk of infection, less pain and discomfort, and reduced blood flow.

The surgical robotics market will expand due to a rise in demand for sophisticated robotic surgery and automation in the healthcare sector. New highly developed robots will be released as a result of continued research and development, helping to meet the end customers’ expanding needs. The surgical robotics industry will also have significant growth prospects in developing countries like Brazil, China, and India. Several industrial strategic actions implemented by global players will contribute to the market’s expansion over time. Robot usage in surgeries will increase with the incorporation of cameras, high-definition 3D image sensors, remote navigation systems, or computing technology.

Restraints

The adoption cost of the robotic surgical process, maintenance costs, and declining hospital budgets have hampered the expansion of the surgical robot market.

Market Segmentation

  • The surgical robotics market is divided into robot systems and instruments & accessories based on components. From 2022 to 2030, the instruments & accessories segment will grow at a CAGR of about 17%. This is due to the use of modern, high-tech instruments and accessories. 
  • The surgical robots market is divided into gynecological surgery, orthopedic surgery, general surgery, neurosurgery, urologic surgery, and others on the basis of application. The orthopedic surgery market segment held the highest position in the market in 2021, with a revenue of USD 735 million. The rapid adoption of innovative techniques for complete knee replacement and knee reconstruction surgery is responsible for the largest share of the segment. Numerous orthopedic subspecialties, like total joint arthroplasty, shoulder, hip, and knee, have used robotic surgery particularly.

 For instance, the Organization for Economic Cooperation and Development reports that in 2018, there were 184,688 total knee replacement (TKR) procedures performed in Germany. Therefore, the industry environment will change faster as the number of orthopedic surgery increases.

  • On the basis of end-user, the surgical robot market is segmented into hospitals and outpatient surgery centers. The hospital segment had the largest market share, with revenue of about USD 3.7 billion in 2021 due to rising healthcare costs in various regions. Modern surgical robots are available in hospitals to enhance the standard of treatment and patient outcomes.

Regional Analysis

The North American market led the entire market in 2021 with a revenue share of 51%. The market in this area is driven by the use of automated surgical tools in the medical field and the expansion of healthcare facilities in the United States. The lower number of doctors and surgeons in the US dependent on the patient population will also fuel the regional market for surgical robots. Chronic conditions like diabetes, cancer, and cardiovascular disorders have accelerated market expansion.

The Asia Pacific region’s expanding population and rising use of sophisticated automated surgical technologies will support market expansion. The regional market is expanding due to the adoption of cutting-edge medical technologies and the availability of contemporary healthcare infrastructure. Investors are investing in automated instruments, which will aid the market’s expansion. Furthermore, the market is expanding due to rising interest in surgical robotics and a higher acceptance of these devices in this region.

Key Players

  • Medtronic
  • Smith & Nephew
  • Corindus Vascular Robotics
  • Intuitive Surgical 
  • Stryker Corporation
  • Zimmer Biomet
  • Asensus Surgical (Transenterix)
  • Auris Health
  • Medrobotics Corporation
  • Renishaw
  • Think Surgical
  • Verb Surgical (part of Johnson and Johnson)
  • Preceyes BV
  • avateramedical GmbH
  • Medicaroid Corporation
  • China National Scientific Instruments and Materials Corporation
  • OMNIlife Science
  • CMR Surgical
  • Microsure
  • Titan Medical

The market worth of surgical robots in 2021 was USD 5.16 billion and will be worth USD 20.98 billion by 2030, growing at a 16.84% CAGR. The primary reasons driving the market include a global lack of physicians and surgeons and the increasing usage of automated surgical tools.

Uneeb Khan
Uneeb Khan
Uneeb Khan CEO at blogili.com. Have 4 years of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World.

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