Surgical Robots Market to be Worth $25.47 Billion by 2030 - by Meticulous Research®

According to a new market research report titled, "Surgical Robots Market by Product & Service (Surgical Instruments & Accessories, Robotic Systems, Services), Application (Orthopedic, Obstetrics & Gynecological, Cardiovascular & Thoracic, Urology, General Surgery), and End User - Global Forecast to 2030", published by Meticulous Research®, the surgical robots market is projected to reach $25.47 billion by 2030, at a CAGR of 15.4% during the forecast period 2023-2030.

Surgeries with the assistance of robots enable precision even in hard-to-reach areas with less downtime. Robotic surgery systems can be used for obstetrics and gynecology, orthopedic, cardiothoracic, urology, and many more applications. These robotic systems are mostly preferred to perform minimally invasive surgeries due to their precise operating capabilities. With benefits such as greater control, flexibility, and precision, demand for surgical robots is expected to increase at a higher rate.

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The global surgical robots market study is segmented by product & service (surgical instruments & accessories, 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. However, 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.

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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.

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. However, Asia Pacific is expected to witness a rapid growth during the forecast period. 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.

The key players operating in the global 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.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/surgical-robots-market-5463

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This release was published on openPR.