The global surgical robots market was worth $5.16 billion in 2021 and is expected to be worth $20.98 billion in 2030, growing at a CAGR of 16.84% between 2021 and 2030.
Surgical robots help doctors perform many complex surgeries with increased flexibility, accuracy, and control than traditional methods. Surgical robots are most commonly used in minimally invasive surgeries and occasionally in traditional open surgeries. As per a report by the Agency for Healthcare Research and Quality, over 450,000 total hip replacement surgeries are performed in the United States annually, contributing to the market’s overall growth.
Technological advancements to boost demand for surgical robots
The rise in medical robotic system adoption can be attributed to a combination of technological advancements like the use of more efficient motors, compact and light materials, power backup, sophisticated controls and safety mechanisms, and cost-effectiveness. Other medical robotics technological advances include incorporating magnetic resonance imaging and 3D ultrasound to enable real-time imaging for efficient procedure planning and easy future reference. TransEnterix received FDA approval for the Senhance Ultrasonic System, an advanced energy device that pairs with the Senhance robotic surgery platform, in January 2019. Globus Medical, Inc. received FDA clearance for the Excelsius GPS, which it acquired from Excelsius Surgical LLC in 2014. Intuitive Surgical received FDA and CE mark approval for da Vinci X systems in the United States and Europe in May 2017 and April 2017, respectively.
Increase in funding for R&D on surgical robots to drive the global market
The increased emphasis on the advancement of technically advanced robotic systems has resulted in increased funding from both public and private entities. It is driving the global market forward. CMR Surgical, a private company developing next-generation robotic systems for universal minimal access surgery, in June 2021 raised US$ 600 million in Series D funding. These funds would expand the global commercialization of ‘The versius’ surgical robotic system. CMR Surgical collaborates with hospitals and surgeons to provide an ideal tool for making robotic keyhole surgery accessible and affordable to everyone.
Growth in adoption of robotics systems to boost the surgical robots market
by component, the surgical robot market is segmented into robotic systems, accessories & consumables, and services. In 2021, the robotic systems segment dominated 60% of the global market. During the forecast period, the segment will likely dominate the market in the forecast period. The use of surgical robots to perform surgeries is in its early stages. The use of surgical robots for different processes is expected to increase demand for more sophisticated and technologically advanced robotic surgery devices.
Increased Demand for Surgical Robots in Minimally Invasive Gynecological Procedures to Supplement Gynecological Surgery
by application, the surgical robot is segmented into gynecological, urological, neurosurgery, orthopedic, general surgery, and others. The gynecological surgery segment will dominate the global surgical robot market during the forecast period. Technological advances in gynecological surgery allow surgeons to perform less invasive procedures. During the forecast period, the gynecological surgery segment is expected to benefit from increased purchasing power in hospitals and other healthcare settings. The increased demand for minimally invasive procedures with shorter recovery times is increasing the use of surgical robots in gynecological surgeries.
Increased Hospital Investments to Drive Global Surgical Robots Market
Based on end-user, the global market has been segmented into hospitals and ambulatory surgical centers. In 2021, hospitals dominated the global market, with around 71.22% of the total market. The segment’s large share can be attributed to increased hospital investment, especially in developing countries.
Regional Analysis
Because of the size of the US surgical robotics market, North America had the largest regional share, valued at around USD 3.27 billion in 2022. The increasing availability of surgical robots, combined with the growing number of injuries and diseases requiring surgery, is driving the industry’s growth in North America. In 2022, the European market is expected to be worth around USD 2.17 billion.
The Asia-Pacific region will be the fastest-growing market over the forecast period. Rapid advancements in surgical robotics technology and a rising patient population in developing markets such as India and China have stimulated segment growth. According to Intuitive Surgical, 170 da Vinci surgical robots have performed over 170,000 surgeries in China.
Major players
key industry players operating in the surgical robots market are:
- Medtronic
- Smith & Nephew
- Zimmer Biomet
- Asensus Surgical
- Corindus Vascular Robotics
- Renishaw
- Auris Health
- Medrobotics Corporation
- Think Surgical
- Verb Surgical
- CMR Surgical
- Titan Medical
- Other Players
