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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Mar 2019  |  Report ID: GMI3122  |  Authors: Sumant Ugalmugale

Report Format: PDF   |   Pages: 110   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Surgical Robots Market Size was valued at USD 5.5 billion in 2018 and is expected to witness 24.4% CAGR from 2019 to 2025.
 

U.S. Surgical Robots Market Size, By Component, 2018 & 2025 (USD Million)
 

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Technological advancements in surgical robots have positively influenced surgical robots market growth during forecast timeframe. Companies such as Intuitive Surgical and Stryker have introduced surgical robots that offer distinguishable performance during the surgeries by reducing complications. Recently developed robots allows doctors and surgeons to perform complex procedures with high flexibility and precision. Surgical robotic arms provides commendable control over operations that boosts its adoption amongst doctors. Among the available surgical robots, Da Vinci is most preferred during minimally invasive surgeries. Thus, availability of such technologically advanced surgical robots proves beneficial for the industry growth.
 

Favourable regulatory scenario in developed economies that promotes development in surgical robots propels the industry growth. Regulations imposed by the regional authorities ensure superior quality of the surgical robots being manufactured and marketed. For instance, in the U.S., FDA minutely scrutinizes surgical robots manufacturing activities. Additionally, it also frames several regulations to minimize defects in the surgical robots and reduce the number of post sales product recalls. This scenario proves beneficial for the industry growth as the regulations enforced by the authorities favour advances in the surgical robots as well as maintain its quality. High cost associated with the surgical robots may hamper its adoption thereby, adversely impacting industry growth in developing and underdeveloped regions.
 

Surgical Robots Market Report Coverage
Report Coverage Details
Base Year: 2018
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Pages: 110 Tables, Charts & Figures: 126
Geographies covered (18): U.S., Canada, Germany, UK, France, Italy, Spain, Japan, India, China, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Component, Application, End-user and Region
Companies covered (10): Accuray, Globus Medical, Hansen Medical, Intutive Surgical, Johnson & Johnson, Mazor Robotics, Omni, Stryker, Think Surgical, Zimmer Biomet

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Surgical Robots Market, By Component

Robot systems segment was valued around USD 2 billion in 2018 owing to its growing demand in hospitals that offer surgical procedures for complicated conditions. Also, high preference for minimally invasive surgery has positively impacted the demand for robot systems. Recently developed surgical robots allow surgeons to have unprecedented control in minimally invasive surgeries and also reduces the surgical errors that enhance segmental growth.
 

Instruments and accessories segment is expected to witness 24.1% growth throughout the analysis timeframe owing to its high replacement rate. Instrument and accessories have low price as compared to the robot systems. Also, frequent wear and tear of the instruments and accessories increases the requirement for continuous replacement that stimulates the segment growth.
 

Surgical Robots Market, By Application

Neurosurgery segment accounted for significant revenue share of over 12% in 2018 and is estimated to experience robust growth over the analysis timeframe. Segment growth is attributed to increasing prevalence of neurological dysfunction, stroke and brain aneurysm across the globe. Utilization of robotic operating systems to improve precision, control and dexterity of surgical procedure to offer patients with higher quality of operating interventions will further spur segment revenue.
 

Orthopaedic segment will grow at 24.6% throughout the forecast period. Considerable segmental growth can be associated with massive usage of surgical robots in knee replacement surgeries. According to Wolters Kluwer Journal, in the U.S. around 700,000 knee procedures are performed annually and majority of them are performed utilizing a surgical robot that proves beneficial for the segment growth.
 

Germany Surgical Robots Market Size, By Application, 2018 (USD Million)
Germany Surgical Robots Market Size, By Application, 2018 (USD Million)

 

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Surgical Robots Market, By End-user

Hospital segment was valued at around USD 3.5 billion in 2018 and considerable revenue size can be associated with the increasing number of surgical procedures globally. Increase in the prevalence of chronic diseases and trauma cases has surged demand for surgical robots in hospitals that provide surgeries for chronic diseases. Also, reimbursement available for surgical procedures have escalated the patient inflow in hospitals thereby, augmenting the segmental growth.
 

Ambulatory surgical centres (ASCs) segment will have over 24% growth during forecast timeframe due to the benefits associated with ambulatory surgical procedures. Majority of the surgical procedures performed at ASCs are fairly reimbursed that resolves the affordability issues in patients with lower income levels. Furthermore, reduced length of patient stay in ASCs is one of the important factors that is expected to drive the segmental growth.
 

Surgical Robots Market, By Region

North America surgical robots market was valued more than USD 2 billion in 2018 and will witness similar trend over the forecast period. Rising prevalence of cancer, cardiovascular, neurovascular, gynaecology and other chronic diseases coupled with high adoption of advanced surgical treatments will drive the regional business growth. Increasing focus of industry players on development of advanced robots to facilitate surgical procedures will positively impact industry growth during the upcoming years.
 

Europe surgical robots market will witness lucrative 24.1% CAGR over the forecast period owing to increasing adoption of robot-assisted surgical procedures in the region. Initiatives of organizations such as the European Association of Urology, including launch of the EAU Robotic Urology Section (ERUS), a scientific platform for urologists interested in the cutting-edge robotic surgery development will lead to increased adoption of robotic surgeries in urology. Benefits associated with robot-assisted procedures such as fewer complications and shorter hospitalization will further increase its adoption in the foreseeable future.
 

Asia Pacific Surgical Robots Market Size, By Country, 2025 (USD Million)
Asia Pacific Surgical Robots Market Size, By Country, 2025 (USD Million)

 

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Competitive Market Share

Few major industry players operating in the surgical robot market includes Hansen Medical, Intuitive Surgical, Medrobotics, MedTech, Mazor Robotics, Renishaw, Smith & Nephew, Stryker and THINK Surgical. Intuitive Surgical currently dominates the industry with major market share coming from its innovative surgical robots. Surgical robot industry experiences intense rivalry as the companies continuously try to introduce innovations in the surgical robots to enhance the success rate of surgeries. Also, for sustaining the market position, the players also implement certain strategic initiatives such as new product launch, mergers and acquisitions. For instance, in 2017, Mazor introduced Mazor X, a surgical assurance platform for spine surgery. Introduction of such new products will foster company’s growth.
 

Surgical Robots Industry Background  

Surgical robots industry can be traced back to 1980’s that witnessed the introduction robots assisting in appendicectomy and cholecystectomy. Initially, surgeons were reluctant to adopt robots for minimally invasive procedures. However, as the surgeons got acquainted with the benefits associated with the surgical robots, its preference increased gradually. Currently available surgical robots impart the liberty of visualizing tissues in open surgery that reduces the error rate. Additionally, robots are user friendly and provide maximum flexibility. Due to immense reliability possesses by surgical robots, surgeons rely on it during minimally invasive procedures having enormous complications. Introduction of such robots have drastically reduced the mortality rates proving beneficial for the industry growth. Though usage of surgical robots is high in developed countries, its high cost creates demand supply gap. Higher cost of surgical robots limits its adoption due to budgetary constraints. But, as the market revolutionised, cost of surgical robots has considerably reduced. Leading players will find ample opportunities in the U.S. market that has well-developed healthcare infrastructure. In contrast, Europe relies on public healthcare facilities that may prove to be an obstacle for robotic companies as the adoption of expensive surgical robots may be hampered due to low budget issues. Despite these issues, Europe market still has gathered enormous share due to presence of local players that have strong foothold.


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