Report Overview

Global Surgical Robotics Market- Industry Trends & Forecast Report 2028

The global surgical robotics market was worth USD 5.8 billion in 2021 and is further projected to reach USD 18.2 billion by the year 2028, growing at a CAGR of 18.40% during the forecast period. The market is proliferating at a high rate owing to the increasing prevalence of various chronic diseases and the surging rate of accidents worldwide. The significant shortage of skilled surgeons around the world and access to economic healthcare services is also emerging as the major driving factor for the growth of the global surgical robotics market.

Surgical Robotics - Overview

Surgical robotics is fast, efficient, and accurate in its execution of tasks. These robots are becoming more common these days because, as compared to human surgeons, they are capable of performing vital and complicated surgeries with extreme precision. The application of robots in the medical industry is very vast. Robots are nowadays increasingly used in orthopedic surgery, laparoscopy, emergency medicine, neurosurgery, and a variety of other medical fields. Robotic surgery has a high success rate, which is why it is gaining popularity worldwide.

Surgical Robotics Market Forecast and Trends

Growth Drivers

Increasing Prevalence Of Chronic Diseases And Demand For Surgical Procedures

The increasing prevalence of various types of chronic diseases is fueling the demand for surgical procedures. According to a report published by the National Center for Biotechnology Information, around 310 million surgical procedures are performed every year worldwide, among which 40 to 50 million are performed in the US and 20 million in Europe. The increasing risk of cross-contamination and rising prevalence of hospital-acquired infections is prompting healthcare facilities to deploy surgical robotics for surgical procedures.

High Precision Offered By Surgical Procedures

Surgical robotics is highly efficient in performing different types of surgeries with high precision. This increases the success ratio several folds. These surgical robotics perform both open as well as minimally invasive surgeries with fewer incisions, which reduces pain and scarring. This eventually leads to a shorter hospital stay and quicker recovery of the patients. Therefore, hospitals are increasingly investing in adopting surgical robotics, which is driving the overall market growth.

Restraints

High Cost Of Surgical Robotics System

The manufacturing and integration of surgical robotics acts as a major restraining factor for the growth of the global surgical robotics market. The healthcare facilities in many countries are not much financially reliant and had to depend on government and private funding. Therefore, being equipped with expensive robotics systems and services along with the maintenance costs of devices may further halt the market growth. The safety issues concerning a robotic surgery system may also act as a major restraining factor for the market growth.

Impact of COVID-19 on Surgical Robotics Market

The COVID-19 pandemic outbreak initially negatively impacted the growth of the surgical robotics market. This is because all the electric surgical procedures were postponed due to the high risk of virus transmission during the pandemic. Furthermore, the healthcare facilities were also focusing on handling the overwhelming number of COVID-19 patients. Due to this, the demand for surgical robotics registered a significant fall. However, the market is anticipated to flourish significantly over the forecast period as the use of surgical robotics will help in facilitating contactless medical procedures.

Surgical Robotics Market - By Product & Services

Based on product & services, the global surgical robotics market is segmented into instruments & accessories, robotic systems, and services. The instruments & accessories segment accounts for the largest market share. The healthcare facilities such as hospitals are significantly investing in low-cost instruments and accessories such as mechanical arms and a camera arm with surgical instruments attached to them. However, the robotic systems are anticipated to register the highest growth rate during the forecast period.

Surgical Robotics Market - By Application

Based on application, the global surgical robotics market is segmented into general surgery, gynecological surgery, orthopedic surgery, urological surgery, neurosurgery, and other applications. The general surgery segment accounts for the largest market share. This type of surgery includes a wide range of procedures such as Ambulatory Phlebectomy, Breast Biopsy, Core, Hemorrhoids, Laparoscopic Cholecystectomy, Colon Cancer Surgery, etc. The increasing burden of surgery worldwide is prompting healthcare systems to adopt surgical robotics in general procedures, which is driving the overall market growth.

Surgical Robotics Market - Regional Insights

Geographically, the surgical global robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominates the surgical robotics market owing to the increasing prevalence of various chronic diseases and rising private investment towards surgical robotics to advance the healthcare infrastructure. The increasing demand for minimally invasive surgeries also acts as a major driving factor for the demand for surgical robotics in this region. Following North America, Europe also covers a substantial market share.

Competitive Landscape

The leading market players of the surgical robotics market are Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Asensus Surgical, Medrobotics Corporation, ReWalk Robotics, Diligent Robotics, Inc., Ekso Bionics Holdings Inc., Sarcos Robotics, Barrett Technology, Smith & Nephew, Medicaroid Corporation, avateramedical Gmbh, National Scientific Instruments And Materials Corporation (CSIMC), Microsure, Corindus Vascular Robotics, OMNIlife Science, Preceyes BV, Titan Medical, and other prominent players.

The market is highly competitive and consolidated with the presence of several multinational corporations. However, robotic startup companies are also emerging and giving tough competition to established players. The companies are launching a wide range of products that are capable of performing different types of surgeries. They are also significantly investing in research and development activities. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

• In March 2022, the University Hospitals of Northamptonshire NHS Group, UK, announced to have invested 1.7 million euros in the surgical robots as a part of its clinical strategy.
• In February 2022, VirtaMed, a Swiss surgical stimulator company for medical education, and Memic Innovative Surgery ltd., a medical device company, announced their partnership to develop a new virtual reality simulator program for the Hominis Surgical System.

Scope of the Report

By Product & Service

• Instruments & Accessories
• Robotic Systems
• Services

By Application

• General Surgery
• Gynecological Surgery
• Orthopedic Surgery
• Urological Surgery
• Neurosurgery
• Other Applications

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Surgical Robots Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Surgical Robots Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Category
         1. Instruments & Accessories
         2. Systems
         3. Services
      2. By Application
         1. Urological Surgery
         2. Gynecological Surgery
         3. Orthopedic Surgery
         4. Neurosurgery
         5. General Surgery
         6. Others
      3. By End-User
         1. Hospitals
         2. Ambulatory Surgery Center
         3. Others
      4. By Region
         1.  North America
         2.  Europe
         3.  Asia-Pacific
         4.  Latin America
         5.  Middle-East and Africa
6. North America Surgical Robots Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End-User
      4. By Country
         1. United States
         2. Canada
7. Europe Surgical Robots Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End-User
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. Asia Pacific Surgical Robots Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End-User
      4. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Australia
         6. Rest of Asia Pacific
9. Latin America Surgical Robots Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End-User
      4. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. Middle East & Africa Surgical Robots Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Category
       2. By Application
       3. By End-User
       4. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. 1. List of Key Players and Their Offerings
       2. Market Share Analysis, 2021
       3. Competitive Benchmarking, By Operating Parameters
       4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of COVID-19 on Surgical Robots Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Intuitive Surgical, Inc.
    2. Stryker Corporation
    3. Medtronic plc.
    4. Smith & Nephew plc.
    5. Zimmer Biomet
    6. Asensus Surgical US, Inc.
    7. Corindus, Inc.
    8. Renishaw plc.
    9. Avateramedical GmbH
    10. CMR Surgical Ltd.
    11. Johnson & Johnson, Inc.
    12. KUKA AG
    13. Hansen Medical, Inc.
    14. MAKO Surgical Corp.
    15. THINK Surgical, Inc.
    16. Blue Belt Technologies, Inc.
    17. Stanmore Implants Worldwide Ltd
    18. TransEnterix Surgical, Inc.
    19. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1        Global Surgical Robots Segmentation

Figure 2        Global Surgical Robots Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 5        Global Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 6                  Global Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 7                  Global Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 8                 Global Surgical Robots Market Share, By Region, By Value, 2018-2028

Figure 9                 North America Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 10       North America Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 11       North America Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 12       North America Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 13       North America Surgical Robots Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 15       Europe Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 16       Europe Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 17       Europe Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 18       Europe Surgical Robots Market Share, By Country, By Value, 2018-2028

Figure 19       Asia-Pacific Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 20       Asia-Pacific Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 21       Asia-Pacific Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 22       Asia-Pacific Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 23       Asia-Pacific Surgical Robots Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 25       Latin America Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 26       Latin America Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 27       Latin America Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 28       Latin America Surgical Robots Market Share, By Country, By Value, 2018-2028

Figure 29       Middle East & Africa Surgical Robots Market Size, By Value (USD Billion), 2018-2028

Figure 30       Middle East & Africa Surgical Robots Market Share, By Category, By Value, 2018-2028

Figure 31       Middle East & Africa Surgical Robots Market Share, By Application, By Value, 2018-2028

Figure 32       Middle East & Africa Surgical Robots Market Share, By End-User, By Value, 2018-2028

Figure 33       Middle East & Africa Surgical Robots Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1       Global Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 2       Global Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 3       Global Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 4       Global Surgical Robots Market Size, By Region, By Value, 2018-2028

Table 5       North America Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 6       North America Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 7       North America Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 8       North America Surgical Robots Market Size, By Country, By Value, 2018-2028

Table 9       Europe Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 10        Europe Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 11        Europe Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 12        Europe Surgical Robots Market Size, By Country, By Value, 2018-2028

Table 13        Asia-Pacific Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 14        Asia-Pacific Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 15        Asia-Pacific Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 16        Asia-Pacific Surgical Robots Market Size, By Country, By Value, 2018-2028

Table 17        Latin America Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 18        Latin America Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 19        Latin America Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 20        Latin America Surgical Robots Market Size, By Country, By Value, 2018-2028

Table 21        Middle East & Africa Surgical Robots Market Size, By Category, By Value, 2018-2028

Table 22        Middle East & Africa Surgical Robots Market Size, By Application, By Value, 2018-2028

Table 23        Middle East & Africa Surgical Robots Market Size, By End-User, By Value, 2018-2028

Table 24        Middle East & Africa Surgical Robots Market Size, By Country, By Value, 2018-2028

Table 25        Intuitive Surgical Company Overview

Table 26        Intuitive Surgical Financial Overview

Table 27        Stryker Corporation Company Overview

Table 28        Stryker Corporation Financial Overview

Table 29        Medtronic Company Overview

Table 30        Medtronic Financial Overview

Table 31        Smith & Nephew plc. Company Overview

Table 32        Smith & Nephew plc. Financial Overview

Table 33        Zimmer Biomet Company Overview

Table 34        Zimmer Biomet Financial Overview

Table 35        Asensus Surgical US, Inc. Company Overview

Table 36        Asensus Surgical US, Inc. Financial Overview

Table 37        Corindus, Inc. Company Overview

Table 38        Corindus, Inc. Financial Overview

Table 39        Renishaw plc. Company Overview

Table 40        Renishaw plc. Financial Overview

Table 41        Avateramedical GmbH Company Overview

Table 42        Avateramedical GmbH Financial Overview

Table 43        CMR Surgical Ltd. Company Overview

Table 44        CMR Surgical Ltd. Financial Overview

Table 45        Johnson & Johnson, Inc. Company Overview

Table 46        Johnson & Johnson, Inc. Financial Overview

Table 47        KUKA AG Company Overview

Table 48        KUKA AG Financial Overview

Table 49        Hansen Medical, Inc. Company Overview

Table 50        Hansen Medical, Inc. Financial Overview

Table 51        MAKO Surgical Corp. Company Overview

Table 52        MAKO Surgical Corp. Financial Overview

Table 53        THINK Surgical, Inc. Company Overview

Table 54        THINK Surgical, Inc. Financial Overview

Table 55        Blue Belt Technologies, Inc. Company Overview

Table 56        Blue Belt Technologies, Inc. Financial Overview

Table 57        Stanmore Implants Worldwide Ltd Company Overview

Table 58        Stanmore Implants Worldwide Ltd Financial Overview

Table 59        TransEnterix Surgical, Inc. Company Overview

Table 60        TransEnterix Surgical, Inc. Financial Overview