Published: May 2022 | Report Code: 11365 | Available Format: PDF
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.
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.
Report Attribute | Details |
Historical Years |
2017-2021 |
Forecast Years |
2022-2030 |
Market Size in 2021 |
$6,281.1 Million |
Revenue Forecast in 2030 |
$30,067.2 Million |
Growth Rate |
19.0% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling |
Segments Covered |
By Application; By Product and Service; By Region; By End User |
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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.
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.
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.
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:
The report offers comprehensive market segmentation analysis along with revenue estimation for the period 2017–2030.
Based on Product & Service
Based on Application
Based on End User
Geographical Analysis
During 2021–2030, the growth rate of the surgical robots market will be around 19%.
In 2021, the size of the surgical robots market stood at $6,281.1million.
Hospitals are the largest end users of surgical robots.
North America is the largest market for surgical robots.
Top players in the surgical robots market include Intuitive Surgical, Medtronic, Stryker Corporation, Smith & Nephew, Zimmer Biomet, Corindus Vascular Robotics, Asensus Surgical, Auris Health, Think Surgical, Medrobotics Corporation, Verb Surgical, OMNIlife Science, Preceyes BV, CMR Surgical, China National Scientific Instruments and Materials Corporation, Titan Medical, avateramedical GmbH, Microsure, and Medicaroid Corporation.
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