The global surgical robots market size was valued at USD 7.4 billion in 2020 and is expected to witness a CAGR of 12.3% during the forecast period 2021–2027. Technological advancements, several advantages of surgical robots, increasing neurological disorders, increasing research and development activities, and increasing geriatric population are driving the growth of the surgical robots market.
Some of the key surgical robotic systems available in the market include The Da Vinci Surgical System by Intuitive Surgical Inc.; Renaissance and Mazor X by Mazor Robotics Inc. (Acquired by Medtronic plc); Mako Surgical Arm by Stryker Corporation; Rosa Surgical Robot by Medtech SA (Zimmer Biomet); and CyberKnife by Accuray Incorporated.
The Da Vinci Surgical System is the most commonly used surgical robotic system used across the globe. The category account for more sales than all other categories combined, which is primarily due to the strong position of the company in the market. The brand has the early mover advantage and the constant effort from its maker to keep it up to date are the key factors leading to the high demand of the category.
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There are several benefits of robotic surgery, which is leading to an increase in adoption by hospitals and ambulatory surgical centers. Robotic surgery offers several benefits to the surgeon such as an enhanced visual field, superior dexterity, and reach to inaccessible or hard-to-reach places during the surgery.
Similarly, patients benefit from better clinical outcomes, shorter hospital stays, precision in surgery, lesser pain, early discharge and shorter recovery time. The robotic surgery also causes smaller incision and therefore reduces the risk of getting infection post-surgery. Compared to conventional surgery robotic surgery leaves small incision and allows surgeon to operate in very tight spaces with precision using robotic arms.
Based on component, the surgical robots market is categorized into robotic systems, instruments and accessories, and services. Of all, instruments and accessories segment hold the largest share in the market, globally. The largest share of the category is attributed to the repeat purchase and increasing number of robot-assisted surgeries across the globe. The market for surgical robot services market is anticipated to witness the fastest growth during the forecast period due to the intensive maintenance work required for the robotic systems.
Surgical robots find applications in general surgery, gynecological surgery, orthopedic surgery, cardiology, neurology, among others. Of all the applications, general surgery followed by gynecological surgery accounted for the largest demand for surgical robotic systems, accessories and services. The surgical robots market for gynecological surgery is anticipated to observe the fastest growth during the forecast period as more and more surgeon are adopting surgical robot and services for gynecology as robots has proven their efficiency and precision with less ill effects.
Based on end-users, the surgical robots market is segmented into hospitals and ambulatory surgical centers. Of both the categories, hospital account for the larger demand for surgical robot systems and services due to the advancements in the technology, and inclusion for gynecology, orthopaedic surgery, and general surgery. Different companies are investing for the development of miniaturized surgical robots for penetration in ambulatory surgical centers.
Although, Asia-Pacific lags behind North America and Europe in terms of the number of surgical robots installed in the region; however by the end of the forecast period, the region will account for higher share in the global surgical robots market than Europe. Some of the key factors fuelling the growth of the Asia-Pacific market are the developing infrastructure, investment in healthcare sector, immergence in large number of private healthcare providers, and penetration by the number of the large global healthcare providers in the region.
Also, the North American surgical robots market will remain the largest during the forecast period. The region is further predicted to observe significant growth during the forecast period in the global market owing to technological upgradation and large capital invested in the research and development activities.
Globally, different medical technology companies are entering the market by acquiring the innovators in the market. For instance, in April 2019, Johnson & Johnson announced that Ethicon, Inc., has completed the acquisition of Auris Health, Inc. for approximately USD 3.4 billion in cash and an additional contingent payment of up to USD 2.35 billion, in the aggregate, may be payable upon reaching certain predetermined milestones. With Auris Health’s robotic platform technology, currently used in diagnostic and therapeutic procedures in the lung, Johnson & Johnson will advance its commitment to combatting lung cancer and expand its digital surgery portfolio across multiple surgical specialties.
Some of the key players operating in the surgical robots industry are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics Inc., (Acquired by Medtronic plc), Medtech SA (Acquired by Zimmer Biomet), Accuray Incorporated, Smith & Nephew plc, Renishaw plc, Auris Health, Inc. (Acquired by Johnson & Johnson), Medrobotics Corporation, Varian Medical Systems, Stereotaxis, Inc., Titan Medical Inc., Think Surgical Inc., and TransEnterix, Inc.
Global Surgical Robots Market Coverage
Component Insight and Forecast 2015-2027
Application Insight and Forecast 2015-2027
End-User Insight and Forecast 2015-2027
Surgical Robots Market by Region