Surgical Robot Market is projected to expand at a steady CAGR over the forecast by 2031 | Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US).

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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.

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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.

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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..

Major Players in the Global Surgical Robots Market

The key players in the market are Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw (UK), Auris Health (US), and Microsure (Netherlands) among others.

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