Surgical Robotics Market Growth, Demand and Technology Advancement in Healthcare 2021 – 2030

The Global Surgical Robotics Market size was valued at USD 66.02 billion in 2019 and is predicted to reach USD 119.67 billion by 2030 with a CAGR of 7.4% from 2020-2030.

Surgical Robotics lead to minimally invasive procedures with high precision, minimal incision, reduced blood loss, lesser pain, and quicker healing time, as compared to traditional surgical procedures. In robotically assisted surgeries, the surgeon controls overall surgical procedure by manipulating the self-powered, computer aided robot, that comprises of miniature surgical instruments mounted on its robotic arms.

Surgical robots are commonly used in minimally invasive surgery, remote surgery, and unmanned surgery. The increasing commercialization of surgical robots consequently propagates the growth of global surgical robotics market.

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Top Companies: Medtronic plc, Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Intuitive Surgical, Inc., Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Stryker Corporation (Mako Surgical Corp.), Renishaw plc, Kuka Ag, Mazor Robotics, Zimmer Biomet Holdings Inc. and Think Surgical Inc. and others.

Market Dynamics and Trends

Increasing burden of target diseases, and growing adoption of surgical robots in conducting surgeries, had augmented the market growth in the past few years, and it tends to create lucrative opportunities for the growth of global surgical robotics market.

Furthermore, factors such as growing preferences towards minimally invasive surgeries offering high success rates, faster patient recovery, reduced transfusions, and shorter hospital-stay, are expected to propel the growth of global surgical robotics market.

However, high cost treatments, and risk-factor associated with robotically-assisted surgeries, are the limiting factors hampering the growth of the global surgical robotics market.

Since the year 2000 that Intuitive Surgical Inc., received the FDA approval for its ‘da Vinci Surgical System,’ it had completed over 5 million surgeries in the year 2018, through more than 4,500 surgical robots sold by the company globally. The rising number of FDA approvals granted to the innovations of key players, increasing investments in R&D activities, and advancements in product technologies, are to pave new avenues for the growth of the global surgical robotics market.

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Market Segmentations and Scope of the Study:

The global surgical robotics market share has been analyzed based on component, surgery type and geography.

Based on component, the market is segmented into systems, services, and accessories. Based on surgery type, the market is divided into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising Europe, North America, Asia-Pacific, and RoW.

Geographical Analysis

North America region dominated the global surgical robotics market in the past, and is expected to maintain this trend throughout the forecast period, accounting for the major market share. This is attributed to higher investments by regulatory bodies to adopt advanced surgical robotics systems, well-established healthcare infrastructures with technologically advanced healthcare amenities, and presence of key market players in this region.

Asia Pacific region is expected to demonstrate a substantial growth in the global surgical robotics market, growing with the highest CAGR values throughout the forecast period. This is due to increase in medical tourism, favorable reimbursement policies, and untapped market opportunities offered by the emerging economies present in this region.

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