Surgical Robots Market Report: By Product & Service (RAS Systems, Instruments and Accessories, Services), Application (Orthopedics, Neurology, Urology, Gynecology), End User (Hospitals, Ambulatory Surgery Centers) – Global Industry Revenue Estimation and Demand Forecast to 2030

Market Overview

The surgical robots market generated a revenue of $6,281.1 million in 2021, and it is expected to advance at a CAGR of around 19% during 2021–2030. This can be primarily due to the increasing need for knee and hip replacement surgeries and the surging technological advancements.

In addition to that, the demand for surgical robots is rising, due to the results of the surging number of robotic surgeries, the growing focus of governments and private players to increase healthcare expenditure, and the rising product approvals. For instance, as per the Invest India’s Investment Grid 2021, there are about 600 investments worth $32 billion available in the hospital/medical infrastructure sector in India. Thus, there is a huge growth prospect in the medical devices and equipment segment, due to the expansion of diagnostic and pathology centers as well as miniaturized diagnostics.

Moreover, in December 2021, Medtronic Canada ULC, a leading medical technology company, received a Health Canada license for the Hugo robotic-assisted surgery system, which is used in gynecologic laparoscopic and urologic surgical procedures. This will ensure fewer complications and less recovery time.

As a result of the slowdown in manufacturing activities in 2020 due to the COVID-19 pandemic, the demand for surgical robots was dropped. Furthermore, during the pandemic, travel was restricted and hospitals had minimized or canceled non-urgent outpatient visits, as part of their COVID-19 control measures. Moreover, the high costs of robotic surgeries also resulted in a decline in the market for surgical robots. However, the market is expected to recover with the expected increase in surgeries across the globe in the coming years.

Neurology Category Will Experience the Fastest Growth

The neurology category is projected to observe the fastest growth, advancing at a CAGR of around 21%, during the forecast period, in the surgical robots market. This growth can be attributed to the technological advancements in robotic brain surgeries and the growing usage of surgical robots for providing treatment to patients suffering from tumors and other brain conditions. Moreover, the market in this category is growing due to the prevalence of neurological disorders and the increasing demand for minimally invasive techniques for performing delicate brain surgeries.

For instance, the University of California San Francisco developed a method to treat depressive symptoms using Deep Brain Stimulation (DBS) technology. It involves implanting electrodes within the brain to deliver electrical currents to alter brain activity. This type of automatic on-demand therapy helps alleviate the patient’s symptoms and has long-term effects. Moreover, in 2021, researchers at the university developed a new kind of speech neuroprosthesis for patients with paralysis. It will help patients with a severely damaged brain stem, which can also cause whole-body paralysis. This technology will cater to epilepsy patients and aid in the real-time decoding of commands to vocal muscles into words.

Furthermore, the market is expected to be driven by the increasing use of surgical robots for treating cancer patients with ovarian, abdominal, and prostate cancer, as well as the introduction of new technologies for laparoscopic operations.

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APAC Market Is Expected to Show the Fastest Growth

The APAC market is projected to observe the highest growth rate, of 20.7%, during the forecast period. This can be ascribed to the increase in demand for minimally invasive operations to reduce recovery time, a strong presence of multinational competitors in the region, and ongoing robotics innovations. In addition, top players invest in research and development activities in order to bring down the cost and speed up the clinical adoption of new surgery techniques in the region.

Furthermore, higher favorable outcomes as compared to open surgeries and a shorter period of hospitalization and recovery for patients are boosting the demand for robotic-assisted surgeries. Also, the miniaturization of instruments is likely to allow optimal working conditions in limited space and ensure hygiene in hospitals.

Major opportunities in the market

• The surging demand for surgical robots is due to the increase in the number of knee replacement surgeries, since surgical robots assist doctors in completing complex procedures with reduced pain, owing to their increased control, dexterity, and flexibility. Although the results and quality of traditional operations are high, incorporating robots into the procedures provides more benefits for both doctors and patients, including a lower risk of infection.
• The increasing acceptance and utilization of minimally invasive surgeries, owing to the benefits such as shorter hospital stays, less blood loss, and minimal pain, are offering opportunities for new industry players to launch cost-effective and advanced surgical robots.
•  Surgical robots have become increasingly popular in recent years, in terms of research and testing, and implementation in routine hospital surgeries, such as shoulder, elbow, neck, foot & ankle, and hand & wrist, which are also rising. Surgeons can do less invasive procedures and offer a higher level of precision by using robot arms controlled by a computer.

Hospital Category Held the Largest Share in 2021

Hospitals are the largest end users of surgical robots in the market. This is due to the large number of surgeries performed in these healthcare facilities, globally. With the increase in cases of chronic diseases among the population, the number of surgeries increases in hospitals. Moreover, the presence of well-developed hospitals in countries like the U.S. and Canada and their favorable outcomes increase the footfall in these settings, due to the usage of advanced technologies, including robotics.

Instruments and Accessories Category Held the Largest Share

The instruments and accessories category held the largest market share in 2021. This is due to the increase in surgical procedures globally, which eventually make hospitals purchase instruments and accessories on a recurring basis. The hospitals are required to maintain stock of these items, which are needed during surgical procedures. Also, these instruments are a one-time investment and comparatively cheaper than robotic systems. Thus, these factors drive the growth of the market in this category.

Acquisitions and Product Launches Are Key Market Strategies

Key players operating in the surgical robots market have been actively engaged in product launches and acquisitions, in order to strengthen their product portfolios and achieve a larger market share. For instance:

• In March 2021, Zimmer Biomet launched ZBEdge Connected Intelligence Suite for delivering transformative data-driven insights.
• In January 2021, Smith & Nephew announced the acquisition of the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation.
• In January 2021, Freehand, a U.K.-based medical technology company, announced a partnership with Imperial Medical Solutions (IMS), to support the adoption of its surgical robots by hospitals in India, Sri Lanka, Malaysia, and the Caribbean.
• In February 2020, Medtronic plc announced the acquisition of Digital Surgery to strengthen Medtronic’s robotic-assisted surgery platform.

Key Players in the Surgical Robots Market Are:

• Intuitive Surgical
• Stryker Corporation
• Medtronic
• Smith & Nephew
• Zimmer Biomet
• Titan Medical Inc.
• Corindus Vascular Robotics
• CMR Surgical
• Medrobotics Corporation
• Think Surgical

Market Size Breakdown by Segment

The report offers comprehensive market segmentation analysis along with revenue estimation for the period 2017–2030.

Based on Product & Service

• RAS Systems
• Instruments and Accessories
• Services

Based on Application

• Orthopedics
• Neurology
• Urology
• Gynecology

Based on End User

• Hospitals
• Ambulatory Surgery Centers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Spain
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Singapore
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • Saudi Africa
  • Saudi Arabia
  • UAE