Surgical Robot Market Analysis and Forecast to 2031: By Robot Systems, Instruments & Accessories), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Center

Surgical Robot Market Analysis and Forecast to 2031: By Robot Systems, Instruments & Accessories), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Centers [ASCs]) and Region

The global surgical robots market was valued at USD 5.6 billion in 2021 and it is anticipated to grow up to USD 15.2 billion by 2031, at a CAGR of 10.1% during the forecast period.

Surgical robots are essential to hospitals and ambulatory surgical centers as it helps doctors or healthcare professionals to perform complex procedures with more precision as compared with conventional or traditional techniques.

Market Trends and Drivers

Advantages of robotic-assisted surgery will fuels the market growth. Globally, the demand for minimally invasive surgeries (MIS) is on the rise mainly due to the advantages associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, faster recovery periods, and considerable cost savings. Robotic minimally invasive surgery adds to these advantages by ensuring greater accuracy, repeatability, control, and efficiency Furthermore, by 2030, non-communicable diseases (NCDs) are projected to account for more than one-half of the disease burden in low-income countries and more than three-fourths in middle-income countries. In the geriatric population, NCDs account for more than 87% of the burden in low, middle, and high-income countries. The high prevalence of chronic diseases, especially among the geriatric population, will considerably boost the number of surgical treatment procedures conducted and thus drive the demand and use of surgical sutures.

Market Restraints and Challenges

High cost of robotic systems may restraint the market growth. Robot-assisted surgeries are more expensive than minimally invasive surgeries. The American Congress of Obstetricians and Gynecologists recommends robotic hysterectomy only for unusual and complex clinical conditions. The association states that the adoption of robotic surgery for all hysterectomies would add an estimated USD 960 million to the annual cost of hysterectomy surgeries in the US. The da Vinci system, one of the most commonly used robotic systems, costs between USD 1.5 million and USD 2.5 million, while the CyberKnife robotic system costs around USD 4 million per unit.In addition, the annual maintenance cost of a robot is close to USD 125,000, which further adds to the already high cost of robotic surgery. The average robotic surgical procedure generally costs anywhere between USD 3,000–USD 6,000. The rising cost of surgeries due to the use of robotic systems is thus expected to restrain the growth of the medical robots market.

Global Surgical Robots Market Segmental Overview

The report analyses the global surgical robots market based on component, application, end-use and region.

Global Surgical Robots Market by Component

Based on component, it is segmented into the robot system and instruments and accessories. The instruments accessories segment is expected to register significant CAGR through 2022 to 2030. This is attributed to the adoption of new instruments and accessories with advanced technology. For instance, Intuitive Surgical has introduced da Vinci surgical system with interactive robotic arms and Endowrist instruments utilized during surgery. The firm introduced various instruments such as robotic scissors and bipolar dissector, robotic needle holder, robotic atraumatic grasper and robotic clip applicator among others. Hence, with advanced technologies the demand of new accessories instruments surges thereby, propelling the overall market outlook over the forecast period.

Global Surgical Robots Market by Application

Based on application, it is segmented into gynecology surgery, orthopedic surgery, general surgery, neurosurgery, urologic surgery and others. Among them, the orthopedic surgery segment accounted for around USD 735 million market size in 2021. The high segmental growth is attributed to increasing adoption of new procedures for knee reconstruction and total knee surgery. Robotic surgeries have been specifically used in numerous orthopedic sub-specialties including total joint arthroplasty, shoulder, hip, and knee. For instance, according to the Organization for Economic Cooperation and Development (OECD), the total knee replacement (TKR) surgeries in Germany increased to 184,688 in 2018. Therefore, rising number of orthopedic surgeries will accelerate the industry landscape. Similarly, major market players are focusing to launch new surgical robots in the market with efficient features and applications for better management as well as care of patients, thus proving beneficial for the overall market expansion..

Global Surgical Robots Market by End-use

Based on end-use, it is segmented into hospitals and ambulatory surgical centers. Hospital segment accounted for significant market size in 2021, owing to growing healthcare expenditures in various economies. Hospitals are equipped with advanced surgical robots to improve the quality of care and patient outcomes. Nowadays, doctors or surgeons at hospital settings prefer robot-assisted systems during different surgical procedures. For instance, according to a report published in JAMA network, it was found that the use of robot-assisted surgeries for general surgical procedures rose multifold from 1.8% in 2012 to 15.1% in 2018. Therefore, aforementioned factors will augment the market expansion during the analysis timeframe.

Geographical Analysis of Global Surgical Robots Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. High regional growth is attributed to rising number of various surgical procedures with advanced technology. For instance, according to the Canadian Institute for Health Information’s (CIHI), Canadian Joint Replacement Registry (CJRR), in 2019-20, 63,496 hip replacements and 75,073 knee replacements were performed in Canada. This factor increases the demand of surgical robots in the market. Additionally, key industry players are focusing on developing effective and accurate surgical robots that will further accelerate the market expansion in North America.

Major Players in the Global Surgical Robots MarketCOVID-19 Impact

The COVID-19 pandemic has had a devastating global impact on the world’s population and economy. The pandemic has put a significant strain on healthcare systems. During this period, healthcare institutions and providers have been instructed to stop performing elective surgical procedures and medical examinations to minimize the possibility of transmission and conserve healthcare resources for COVID-19 patients. The pandemic has led to a temporary ban on elective surgeries across the globe, which resulted in the cancellations of elective surgeries worldwide posing a negative impact on the globe.

Recent Developments

• In May 2022, CMR Surgical the global surgical robotics business has announced the launch of its Versius Surgical Robotic System in Brazil, marking the launch of CMR Surgical in Latin America (LatAm).
• In January 2021, Stryker acquired OrthoSensor and its Verasense intraoperative sensor tech to enhance the ortho giants Mako robots
• In January 2021, TransEnterix received CE Mark approval for its Intelligent Surgical Unit that adds AI-based capabilities and enables machine vision capabilities on the TransEnterixs Senhance robotic surgery system.
• January 2020, Sytrker Corporation received regulatory approval for the Mako robotic surgery system in Japan for partial knee indication
• In March 2019, Titan Medical collaborated with Teleflex Incorporated. The collaboration aimed to develop a robotic ligation technology. Under this partnership, Teleflex’s market-leading polymer ligation technology will be integrated into Titan’s development-stage, single-port robotic surgery system.

Frequently Asked Questions

Q1. How big is the surgical robots market?Ans. The global surgical robots market size was USD 5.8 Billion in 2021 and is anticipated to reach USD 15.2 Billion in 2031, growing at a rate 10.1% from 2022 to 2031.Q2. What is the surgical robots market growth rate?Ans. The growth rate of the surgical robots market is 10.1%.Q3. Which region holds a major market share for the surgical sutures market?Ans. North America holds a major market share of the surgical robots market in 2021.Q4. Which segment accounted for the largest surgical robots market share?Ans. By end user, the hospitals segment accounted for the largest surgical robots market share.Q5. Who are the key players in the surgical sutures market?Q6. What are the factors driving the surgical robots market growth?Ans. The major factors driving the growth of the market are the rising demand for surgical robots due to the increasing number surgical procedure across the globe.Q7. What are the key growth strategies of surgical robots market players?Ans. The key growth strategies of surgical robots market players are product launch and product approval.Q8. Which region will provide more business opportunities for the surgical robots market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the surgical robots market during the forecast period.

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