Surgical Robots Market Size By Component (Systems, Accessories & Instruments), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Centers), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: May 2021  |  Report ID: GMI3122  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 248   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Surgical Robots Market size was valued at USD 4.6 billion in 2020 and is expected to grow at a CAGR of over 17.4% from 2021 to 2027. Rising prevalence of chronic diseases and increasing number of surgical procedures across the globe will create lucrative growth opportunities for surgical robots. Technological advancements in surgical robots with regards to their applications, functionality, and accuracy will influence the market growth. Similarly, increasing health expenditure in developing countries will further create growth opportunities propelling the demand for surgical robots.
 

Surgical Robots Market Overview

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Surgical robots are advanced medical devices with robotic arms and instruments attached to them. Surgical robots are fed with programs of surgical decision based on which they assist surgeons in performing minimally invasive surgeries. The COVID-19 pandemic had a substantial impact on the surgical robots market. In March 2020, the Centers for Medicare & Medicaid Services (CMS) declared that all non-essential dental, surgical, and medical procedures and all elective surgeries, be postponed during the COVID-19 outbreak. This has massively affected the business revenues of healthcare providers, and medical product suppliers. It has also impacted the industry as the use of instruments and accessories had suddenly dropped.
 

Increased number of surgeries has escalated the surgical robots market demand

Robotic surgeries have been there for quite some time now. In the initial stages, doctors and patients had their reservations with respect to the use of surgical robots and outcome of the surgery. However, today we are at a stage where the technology has developed, and the results are extremely encouraging. As a result, robotic surgeries are opted by patients without any fear. The use of surgical robots for general surgeries has increased rapidly in last few years, thus proving beneficial for the market expansion.
 

In addition, surgical robots have made extremely critical surgical procedures possible with a minimally invasive approach. With the use of robots, the possibility of infection is close to none. Similarly, the recovery time of the patient is less with robotic surgeries. However, high cost of surgical robots throughout the world may hinder the progression of industry.

 

Rising utilization of robotic systems in various surgical procedures will spur the market revenue

The systems segment in the surgical robots market accounted for USD 1.3 billion in 2020 and it includes the robotic systems that are used to perform various surgical procedures. Robotic systems consist of innovative features such as 3D-HD visualization and are equipped with various surgical instruments used commonly during a surgery. Robotic systems not only help surgeons in identifying the issue but also assist in performing critical surgical procedures with the use of its visualization and magnification capabilities thereby securing the industry progression. Additionally, utilization of robotic systems significantly reduces the risk of errors and post-operative complications that secures the industry demand for robotic systems.
 

Growing adoption of surgical robots in gynecology procedures will offer significant industry growth opportunities 

The surgical robots market for gynecology segment is estimated to witness around a 17.5% growth rate through 2027 owing to increased usage of robotically assisted surgeries for gynecological procedures. Gynecological surgeries include benign hysterectomy, myomectomy, and gynecologic malignancies among others.
 

The robotic procedures’ growth has surged significantly since FDA has approved da Vinci surgical system for usage in gynecologic surgery. Furthermore, rising number of C-section surgeries and increasing patients’ inclination towards robotic assisted minimally invasive surgeries are likely to push the industry expansion.
 

Increasing demand for surgical robots at hospital settings for effective patient care will offer lucrative market progression prospects

Surgical Robots Market Size

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The hospitals segment in the surgical robots market exceeded around USD 3.3 billion revenue size in 2020. High number of inpatient visits and increasing number of surgical procedures is likely to push the overall industry value. Improving and better hospital infrastructure and skilled healthcare personnel in the developed regions and developing infrastructure scenario in emerging economies will further augment the market growth.
 

Rising necessity of surgical robots in North America region will accelerate the industry revenue

North America Surgical Robots Market

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North America surgical robots market is poised to expand at a CAGR of over 17% by 2027 on account of increasing number of surgical procedures and increasing acceptance of robotically assisted surgeries in the region. Presence of market leaders in the North America region along with several technological progressions in surgical robots will further propel the market size. In addition, the market will prosper due to surging awareness and higher adoption rate of surgical robots in the region.
 

Several growth strategies enforced by foremost market players have helped them maintain a strong position in the industry

Few of the eminent companies operational in the surgical robots market include Accuray, Corin Group, Globus Medical, Intuitive Surgical, Johnson & Johnson, Medtronic, Siemens Healthineers, Stryker, THINK Surgical and Zimmer Biomet. These market participants are undertaking numerous enlightened strategies to garner a greater market share.
 

Some of the recent industry developments:

  • In January 2021, Corin group announced the release of OMNIBotics 2.7, upgrading the robotic-assisted platform for use in total knee arthroplasty. This allowed the firm to expand its product portfolio
     
  • In November 2020, the Globus Medical announced first surgeries with ExcelsiusGPS Interbody Solutions. This milestone further enhanced the brand name in computer-assisted surgery and spinal robotics
     

The surgical robots market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Component, 2016-2027 (USD Million)

  • Robot systems
  • Instruments and accessories

Market, By Application, 2016-2027 (USD Million)

  • Orthopaedic surgery
  • Neurosurgery
  • General surgery
  • Gynaecology surgery
  • Urologic Surgery
  • Others

Market, By End-user, 2016-2027 (USD Million)

  • Hospitals
  • Ambulatory surgical centres (ASCs)

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
       

Frequently Asked Questions (FAQ) :

Latest trends in the surgical robots market comprise an increase in technological advancements with regards to product functionality, applications, and accuracy.
Surgical robots market share exceeded USD 4.6 billion in 2020 and will grow at an appreciable CAGR between 2021 and 2027.
Robotic systems held a revenue of more than USD 1.3 billion in 2020 and will grow owing to their magnification and visualization capabilities which help in performing critical surgical procedures.
Gynecology surgery will exhibit a growth rate of nearly 17.5% from 2021 to 2027 due to the surging deployment of robotically assisted surgeries in the performance of gynecological procedures.
The overall market revenue from hospitals was recorded at over USD 3.3 billion in 2020 and will grow with rising number of inpatient visits and surgical procedures.
North America surgical robots market size will grow at more than 17% CAGR through 2027 owing to rising preference for robotically assisted surgeries.

Premium Report Details

  • Published Date: May 2021
  • Pages: 248
  • Tables: 157
  • Charts / Figures: 15
  • Companies covered: 10
  • Countries covered: 18

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