Surgical Robots Market Worth $25.47 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, '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.'

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According to this latest publication from Meticulous Research®, the global surgical robots market is projected to reach $25.47 billion by 2030, at a CAGR of 15.4% during the forecast period 2023-2030. The growth of this market is attributed to the advantages associated with robot-assisted surgery, the increasing number of surgical procedures, the growing funding for medical robot research, and improving reimbursements. In addition, the increasing penetration of surgical robots in ambulatory surgery centers (ASCs) and emerging markets are expected to offer better growth opportunities to this market.

Surgical Robots Market: Future Outlook

The global surgical robots market study is segmented by product & service (surgical instruments & accessories, and robotic systems & services), application (orthopedic, obstetrics & gynecological, cardiovascular & thoracic, urology, general surgery, and other applications), end user (hospitals and ambulatory surgical centers), and geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

Based on product & service, in 2023, the surgical instruments & accessories segment is expected to account for the largest share of the global surgical robots market. Technological advancements in automated medical instruments and accessories, such as the combination of cameras, computing technology, sensors, high-definition 3D imaging, robotic controlled catheters, and remote navigation technology systems, are contributing to the large market share of this segment.

Based on application, in 2023, the orthopedic surgery segment is expected to account for the largest share of the global surgical robots market. Robotic surgery has been largely employed in various orthopedic subspecialties, including total joint arthroplasty and hip, shoulder, and knee replacement. According to the Medical Device Network, globally, the number of robot-assisted knee reconstruction surgeries is projected to reach around 700,000 by 2030, suggesting strong demand for surgical robots in the orthopedic segment.

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Based on end user, in 2023, the hospitals segment is expected to account for the largest share of the global 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.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and the Middle East & Africa.

Based on geography, in 2023, North America is expected to account for the largest share of the surgical robots market, followed by Europe and Asia-Pacific. The large market share of North America is primarily attributed to the well-established healthcare infrastructure in the U.S. and Canada, the availability of skilled medical professionals, and a growing preference for advanced surgical systems by surgical professionals. In 2023, the U.S. is expected to account for the largest share of the surgical robots market in North America. Market growth in this country is primarily driven by the growing use of surgical robots for general surgeries in the U.S., high healthcare expenditure, and the presence of major market players.

Key Players

The key players operating in the surgical robots market are 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.).

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Key questions answered in the report-

1 Which are the high-growth market segments in terms of product & service, application, end user, and geography?
2 What was the historical market for surgical robots across the globe?
3 What are the market forecasts and estimates for the period 2023-2030?
4 What are the major drivers, restraints, opportunities, and challenges in the global surgical robots market?
5 Who are the major players in the global surgical robots market?
6 How is the competitive landscape, and who are the market leaders in the global surgical robots market?
7 What are the recent developments in the surgical robots market?
8 What are the different strategies adopted by the major players in the surgical robots market?
9 What are the geographic trends and high growth regions/countries?

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This release was published on openPR.