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Surgical Robots Market by Product & Service (Surgical Instruments & Accessories, Robotic Systems, Services), Application (Orthopedic, Obstetrics & Gynecological, Cardiovascular & Thoracic, Urology, General Surgery), End User - Global Forecast to 2030
Report ID: MRHC - 104779 Pages: 170 Jun-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 Hours Download Free Sample ReportSurgical robots or robot-assisted surgery systems allow doctors to perform complex surgical procedures with more flexibility, precision, and control than conventional surgical processes. Surgical robots are usually used for minimally invasive surgeries performed through small incisions. Furthermore, surgical robots can be used in certain traditional open surgical procedures. Mechanical and camera arms are commonly included in most robotic surgical systems.The market's expansion is credited to the benefits linked with robot-assisted surgery, a rise in the number of surgical procedures, enhanced funding for medical robot research, and improvements in reimbursements. Furthermore, the increasing adoption of surgical robots in ambulatory surgery centers (ASCs) and burgeoning markets are anticipated to present more favorable growth prospects for this market.
The rise in the number of surgical procedures is attributable to the increase in chronic diseases across the globe. Cardiovascular surgery, orthopedic surgery, cataract surgery, and surgical treatments are among the most common operations. According to the data published by Eurostat, over 3.66 million cataract surgeries were performed throughout Europe in 2020. An increase in orthopedic surgeries worldwide is also contributing to the growth and expansion of this market. For instance, According to the Times of India, hospital admissions for knee replacement have increased by 2.5 times in the past five years in India, and more than 800,000 knee replacements are performed annually in the U. S. Furthermore, according to the American Academy of Orthopedic Surgeons and the Agency for Healthcare Research and Quality, more than 450,000 complete hip replacements are conducted in the U.S. every year. Thus, the demand for surgical robots is expected to increase with the increase in complex surgical procedures.
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Based on product & service, in 2024, the surgical instruments & accessories segment is expected to account for the largest share of the surgical robots market. The large market share of this segment is mainly attributed to the launch of advanced instruments and accessories, an increase in surgical procedures, and the growing application of robotic surgical systems.
The general surgery segment is projected to register the highest CAGR of the surgical robots market during the forecast period. The adoption of robotic surgeries is increasing due to the rising need for precision in abdominal, thoracic and vascular procedures. Furthermore, the increasing use of surgical robots for colorectal cancer surgeries is significantly driving the growth of this segment. According to the American Cancer Society, in 2020, 104,610 new colon cancer cases and 43,340 rectal cancer cases were diagnosed in the U.S. Thus, with the rising prevalence of colon cancer, the use of surgical robots is expected to increase.
Based on end user, in 2024, the hospitals segment is expected to account for the largest share of the surgical robots market. The large market share of this segment is driven by the increasing number of surgical procedures, growing adoption of advanced surgical systems by surgeons, rising preference for robot-assisted orthopedic surgeries, and increasing funding for advanced surgical systems.
The growth in this market is attributed to increasing cases of chronic diseases, a growing number of orthopedic surgeries, increasing funding for advanced medical systems, and the increasing number of skilled surgical professionals. Furthermore, the growing adoption of automated surgical systems in emerging Asia-Pacific nations and patients’ preference for robot-assisted surgeries, increasing focus on the expansion of modern healthcare facilities, and rising medical tourism also support the market growth in Asia-Pacific.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by key market players over the past few years.The key players profiled in the global surgical Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Medtronic plc (U.S.), Smith & Nephew plc (U.K.), Zimmer Biomet Holdings, Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Asensus Surgical Inc. (U.S.), THINK Surgical, Inc. (U.S.), Renishaw plc, (U.K.), Siemens Healthineers AG (Germany), and CMR Surgical (U.K.).
Key questions answered in the report:
The Surgical Robots Market enhances surgical precision and flexibility, allowing for more complex procedures with minimal invasiveness compared to traditional methods.
The Surgical Robots Market is projected to reach $25.47 billion by 2030, reflecting significant growth driven by advancements in robotic technologies and increasing surgical procedures.
The forecast for the Surgical Robots Market indicates a robust growth rate, with a compound annual growth rate (CAGR) of 15.4% from 2024 to 2030, driven by technological advancements and increased adoption.
The Surgical Robots Market size is expected to be $25.47 billion by 2030, showcasing substantial expansion in the field of robotic-assisted surgeries and medical technologies.
Key players in the Surgical Robots Market include Intuitive Surgical, Stryker, Medtronic, Smith & Nephew, Zimmer Biomet, Johnson & Johnson, Asensus Surgical, THINK Surgical, Renishaw, Siemens Healthineers, and CMR Surgical.
The trend in the Surgical Robots Market is characterized by increasing adoption of robotic systems in ambulatory surgery centers and continuous advancements in surgical technologies.
Drivers of the Surgical Robots Market include the advantages of robotic-assisted surgeries such as precision and flexibility, an increase in surgical procedures, enhanced funding for research, and improvements in reimbursement policies.
The Surgical Robots Market is segmented by product & service, application, and end user, including areas such as surgical instruments, robotic systems, and applications in various types of surgeries.
The global outlook on the Surgical Robots Market industry shows strong growth prospects, with North America leading in market share and Asia-Pacific emerging as the fastest-growing region due to increasing adoption and advancements.
The Surgical Robots Market growth is substantial, driven by the rising number of complex surgical procedures, technological innovations, and increasing acceptance of robotic systems in various medical settings.
The Surgical Robots Market is projected to grow at a CAGR of 15.4% from 2024 to 2030, reflecting a strong upward trajectory due to advancements in technology and increasing demand.
North America holds the highest market share in the Surgical Robots Market, attributed to its advanced healthcare infrastructure and widespread adoption of robotic-assisted surgeries.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-down Approach
2.3.1.3. Growth Forecast
2.3.2. Market Share Analysis
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Advantages of Robot-assisted Surgery
4.2.2. Rising Number of Surgical Procedures
4.2.3. Increasing Research Funding for Medical Robotics
4.2.4. Rising Cancer Prevalence
4.2.5. Improving Reimbursement Scenario
4.3. Restraints
4.3.1. High Cost of Surgical Robots & Robotic Surgery
4.3.2. Resistance from Skilled Surgeons Practicing Traditional Methods
4.4. Opportunity
4.4.1. Increasing Penetration of Surgical Robots in Ambulatory Surgery Centers (ASCs)
4.4.2. Growing Preference for Minimally Invasive Surgeries
4.4.3. Rapid Growth in Emerging Markets
4.5. Challenges
4.5.1. Dearth of Skilled Professionals
4.6. Regulatory Analysis
5. Global Surgical Robots Market, by Product & Service
5.1. Introduction
5.2. Surgical Instruments & Accessories
5.3. Robotic Systems
5.4. Services
6. Global Surgical Robots Market, by Application
6.1. Introduction
6.2. Orthopedic
6.3. Obstetrics & Gynecological
6.4. Cardiovascular & Thoracic
6.5. Urology
6.6. General Surgery
6.7. Other Applications
7. Global Surgical Robots Market, by End Users
7.1. Introduction
7.2. Hospitals
7.3. Ambulatory Surgical Centers
8. Surgical Robots Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U. S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. Rest of Asia-Pacific
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Share Analysis (2022)
10. Company Profiles (Business Overview, Financial Overview, Solutions Portfolio, and Strategic Developments)
10.1. Intuitive Surgical, Inc.
10.2. Stryker Corporation
10.3. Medtronic plc
10.4. Smith & Nephew plc
10.5. Zimmer Biomet Holdings, Inc.
10.6. Johnson & Johnson Services, Inc.
10.7. Asensus Surgical Inc
10.8. THINK Surgical, Inc.
10.9. Renishaw plc
10.10. Siemens Healthineers AG
10.11. CMR Surgical
11. Appendix
11.1. Questionnaire
11.2. Available Customization
List of Tables
Table 1 Global Surgical Robots Market Drivers: Impact Analysis (2024–2030)
Table 2 Global Surgical Robots Market Restraints: Impact Analysis (2024–2030)
Table 3 Global Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 4 Global Surgical Robots Market Size, for Surgical Instruments & Accessories by Country/Region, 2021–2030 (USD Million)
Table 5 Global Surgical Robots Market Size, for Robotic Systems by Country/Region, 2021–2030 (USD Million)
Table 6 Global Surgical Robots Market Size, for Services by Country/Region, 2021–2030 (USD Million)
Table 7 Global Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 8 Global Surgical Robots Market Size for Orthopedic, by Country/Region, 2021–2030 (USD Million)
Table 9 Global Surgical Robots Market Size for Obstetrics & Gynecological, by Country/Region, 2021–2030 (USD Million)
Table 10 Global Surgical Robots Market Size for Cardiovascular & Thoracic, by Country/Region, 2021–2030 (USD Million)
Table 11 Global Surgical Robots Market Size for Urology, by Country/Region, 2021–2030 (USD Million)
Table 12 Global Surgical Robots Market Size for General Surgery, by Country/Region, 2021–2030 (USD Million)
Table 13 Global Surgical Robots Market Size for Other Applications, by Country/Region, 2021–2030 (USD Million)
Table 14 Global Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 15 Global Surgical Robots Market Size for Hospitals, by Country/Region, 2021–2030 (USD Million)
Table 16 Global Surgical Robots Market Size for Ambulatory Surgical Centers (CROs), by Country/Region, 2021–2030 (USD Million)
Table 17 Global Surgical Robots Market Size, by Country/Region, 2021–2030 (USD Million)
Table 18 North America: Surgical Robots Market Size, by Country, 2021–2030 (USD Million)
Table 19 North America: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 20 North America: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 21 North America: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 22 U.S.: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 23 U.S.: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 24 U.S.: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 25 Canada.: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 26 Canada: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 27 Canada: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 28 Europe: Surgical Robots Market Size, by Country/Region, 2024–2030 (USD Million)
Table 29 Europe: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 30 Europe: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 31 Europe: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 32 Germany: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 33 Germany: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 34 Germany: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 35 France: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 36 France: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 37 France: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 38 U.K.: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 39 U.K.: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 40 U.K.: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 41 Italy: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 42 Italy: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 43 Italy: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 44 Spain: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 45 Spain: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 46 Spain: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 47 Rest of Europe: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 48 Rest of Europe: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 49 Rest of Europe: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 50 Asia-Pacific: Surgical Robots Market Size, by Country/Region, 2021–2030 (USD Million)
Table 51 Asia-Pacific: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 52 Asia-Pacific: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 53 Asia-Pacific: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 54 China: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 55 China: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 56 China: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 57 Japan: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 58 Japan: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 59 Japan: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 60 India: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 61 India: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 62 India: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 63 Rest of Asia Pacific: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 64 Rest of Asia Pacific: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 65 Rest of Asia Pacific: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 66 Latin America: Surgical Robots Market Size, by Country/Region, 2020-2029 (USD Million)
Table 67 Latin America: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 68 Latin America: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 69 Latin America: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 70 Brazil: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 71 Brazil: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 72 Brazil: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 73 Mexico: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 74 Mexico: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 75 Mexico: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 76 Rest of Latin America: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 77 Rest of Latin America: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 78 Rest of Latin America: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 79 Middle East & Africa: Surgical Robots Market Size, by Product & Service, 2021–2030 (USD Million)
Table 80 Middle East & Africa: Surgical Robots Market Size, by Application, 2021–2030 (USD Million)
Table 81 Middle East & Africa: Surgical Robots Market Size, by End User, 2021–2030 (USD Million)
Table 82 Recent Developments, by Company, 2020–2022
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Size Estimation
Figure 7 Global Surgical Robots Market Size, by Product & Service, 2024–2030 (USD Million)
Figure 8 Global Surgical Robots Market Size, by Application, 2024–2030 (USD Million)
Figure 9 Global Surgical Robots Market Size, by End User, 2024–2030 (USD Million)
Figure 10 Global Surgical Robots Market, by Geography
Figure 11 Market Dynamics: Surgical Robots Market
Figure 12 Global Surgical Robots Market Size, by Product & Service, 2024–2030 (USD Million)
Figure 13 Global Surgical Robots Market Size, by Application, 2024–2030 (USD Million)
Figure 14 Global Surgical Robots Market Size, by End User, 2024–2030 (USD Million)
Figure 15 North America: Surgical Robots Market Snapshot
Figure 16 Europe: Surgical Robots Market Size Snapshot
Figure 17 Asia-Pacific: Surgical Robots Market Size Snapshot
Figure 18 Latin America: Surgical Robots Market Size Snapshot
Figure 19 Key Growth Strategies Adopted by Leading Players, 2020–2022
Figure 20 Surgical Robots Market: Competitive Benchmarking by Product & Service
Figure 21 Surgical Robots Market: Competitive Benchmarking by Geography
Figure 22 Market Share Analysis: Surgical Robots Market, 2022
Figure 23 Intuitive Surgical, Inc.: Financial Overview (2021)
Figure 24 Stryker Corporation: Financial Overview (2022)
Figure 25 Medtronic plc: Financial Overview (2021)
Figure 26 Smith & Nephew plc: Financial Overview (2021)
Figure 27 Zimmer Biomet Holdings, Inc.: Financial Overview (2021)
Figure 28 Johnson & Johnson Services, Inc.: Financial Overview (2021)
Figure 29 Asensus Surgical Inc.: Financial Overview (2022)
Figure 30 Renishaw plc: Financial Overview (2022)
Figure 31 Siemens Healthineers AG: Financial Overview (2022)
Published Date: Nov-2024
Published Date: Jul-2024
Published Date: Jun-2024
Published Date: Jun-2024
Published Date: Jun-2024
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