Global Surgical Robots Market By Component (Robot Systems and Instruments and Accessories), By Application (Urology, Orthopaedics, Gynaecology, Neurology, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Surgical Robots Market Size Overview:

The Surgical Robots Market size is expected to be worth around USD 23531.56 million by 2031 from USD 5066 million in 2021, growing at a CAGR of 16.6% during the forecast period 2021 to 2031

The market is driven by the shortage of surgeons around the globe and the increasing adoption of robotic instruments for invasive surgery. The market is also seeing positive effects from the increased investments of international and regional players in developing technologically advanced surgical robots.

Global Surgical Robots Market Analysis

Component Analysis

Based on components, there are two market segments in the global surgical robot market: instruments & accessories and robot systems. From 2023-2032, the instrument & accessory segment will see a 17.3% CAGR. This is due to the adoption of advanced technology instruments and accessories. Intuitive Surgical introduced the da Vinci surgical procedure with interactive robotic arms. End wrist instruments are also used during orthopedic surgeries

The firm also introduced robotic surgical grasper, robotic scissors, robotic needle-holder, bipolar dissector, robotic clip application, and robotic atraumatic grasper, among other instruments. The demand for new accessories and instruments increases with the advancement of technology, thereby propelling the market outlook over the forecast period.

Application Analysis

The market was dominated by the other segment in 2021, accounting for a significant revenue share. According to surgical application, the market can be classified into urology or Orthopedics, neurology, gender, and others. Others include surgical procedures used in oncology, laparoscopy, and general surgical procedures. This segment is driven by the growing use of robots in cancer treatment procedures and the increasing demand for minimally-invasive laparoscopic surgery.

The fastest growing segment in neurosurgery will be during the forecast period. The increase in the adoption of surgical robots in neurosurgeries, due to the many benefits they offer over traditional techniques of surgery procedure, is expected to increase the segments. In addition, technological advances and the positive outcomes of robotic neurosurgery are expected to drive the segment’s growth over the next few years. This segment will also be driven by the growing use of automated robotic instruments for brain surgeries.

KEY MARKET SEGMENTATION

By Component

• Robot Systems
• Instruments and Accessories

By Application

• Urology
• Orthopedics
• Gynecology
• Neurology
• Other Applications

Market Dynamics

Market growth is also expected to be driven by the increasing prevalence of bone diseases and the increase in hip and knee replacements due to osteoporosis cases and arthritis. According to the Agency for Healthcare Research and surgical robots market report based on application, over 500,000 hip replacement surgeries in the United States are performed yearly. According to statistics from the Australian Institute of Health and Welfare, the total knee replacement rate in osteoarthritis was also up by 40%.

Market growth is also supported by the increasing number of regulatory approvals for robots used during surgery. Intuitive Surgical Inc. received FDA approval for its Ion robotic surgical system. Market growth is also supported by the increased use of assisted orthopedic surgeries such as hysterectomies. The increasing number of robotic systems used for surgical intervention are all key factors.

Several international strategic industrial initiatives are expected to boost regional market growth over the next few years. Ethicon, a Johnson & Johnson company, bought Auris Health, a platform developer for robotic technology. This acquisition supports the expansion of Ethion’s digital surgery portfolio, which is used to fight lung cancer.

Stryker corporation also purchased OrthoSpace Ltd., contributing to expanding its surgical equipment portfolio. These industrial initiatives are expected to accelerate the adoption and growth of the medical robots market.

Technology advancements in automated medical tools such as combination cameras, high-definition 3D imaging, computing tech, sensors, remote navigation technologies systems, robotic controlled catheters, and other accessories used for medical surgeries are also driving the market.

Additionally, automated robotic surgery may have potential complications like inadvertent cuts, loss of blood, tears and burns, punctures, or other injuries to the organs. Also, the high cost of the instruments can hinder adoption. However, technological advancements and robotic equipment improvements will help reduce the risks and improve the market’s growth.

Regional Analysis

North America had the largest revenue share at 52% for 2021. This market is driven by the growth of next-generation healthcare facilities in America and the increasing adoption of robotic surgical instruments. Regional demand will also be driven by the lack of skilled surgeons and healthcare professionals to meet the needs of the patients in the U.S. A growing number of chronic disease conditions such as cancer, diabetes, heart disease, cardiovascular disease, and other diseases are driving this market.

The Asia Pacific is expected to grow at an impressive rate over the forecast period due to the increasing geriatric population and the increased use of advanced surgical instruments. Market growth is expected to be boosted by the growing acceptance of advanced medical technology and modern healthcare facilities. In addition, foreign investors are attracted by government initiatives to build advanced healthcare infrastructure, which will fuel market growth in the region over the coming years.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Saudi Arabia
  • Israel
  • Rest of MEA

Market Share & Prominent Key Players Analysis:

The market’s top prominent players primarily focus on technological developments and the introduction of next-generation robot instruments to maintain their strong position in global markets. A rising demand worldwide for automated surgical instruments will likely encourage new companies to enter the market. The market is expected to be buoyed by strategic industrial developments made by the major market players, such as mergers, acquisitions, and collaborations.

Medtronic purchased Digital Surgery, a private-owned company specializing in digital education, data analysis, technological advancements, and training in February 2021. Medtronic will be able to expand its robotic-assisted surgical platform as well as its portfolio of robot systems with the acquisition of Hugo.

Key Market Players

• Stryker Corporation
• Smith & Nephew
• Medtronic Plc
• Renishaw Plc
• Corin Group
• Auris Health
• CMR Surgical
• TransEnterix Surgical Inc.
• Medrobotics Corporation
• Intuitive Surgical Inc.
• Zimmer Biomet
• Other Key Players

For the Surgical Robots Market research study, the following years have been considered to estimate the market size: