Surgical Robots (SR) Market, By Component (Surgical Systems, Accessories and Services), By Surgery (Gynaecological Surgery, Urological Surgery, Neurosurgery, Orthopaedic Surgery, General Surgery and other surgeries), By End-user (Hospitals, Ambulatory Surgery Centres and others), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Surgical Robot is a surgeon-controlled device consisting of high-resolution cameras & micro-surgical instruments (i.e. the robot scales, filters) which filters and translates the surgeon’s gestures into precise movement in the operative field, resulting into faster recuperation, improved outcomes and fewer complications. The Surgical Robot Market is anticipated to grow from USD 4.6 billion in 2020 at a CAGR of 17.4% over the forecast period. Growth rate as per sectors & applications are expected to grow at a CAGR approx.– Orthopaedic Application (24.6%), Robot system sector (24.5%), Ambulatory surgical centres (ASCs) segment (24.0%) and Instruments & accessories sector (24.1%). The applications of surgical robots are to perform efficient surgical operations within complex human anatomy and providing assistance by magnified images and precision hand movements without shortcomings (such as distractions, instability & fatigue to accomplish surgical procedures in less time. Furthermore, during neurosurgery, it provides maximum stability and precision movements which reduces healthy tissue damages. Surgical robots are the product of demand for minimal margin of error or zero which stimulated rise in innovations and development of highly efficient products. The aforementioned factors are the contributors to rising market size and market growth at a substantial rate in the upcoming years.

Market Segmentation:

On the basis of component type, the global surgical market is segmented into surgical systems, accessories and services. Based on the surgery type, this market is categorized into gynaecological surgery, urological surgery, neurosurgery, orthopaedic surgery, general surgery and other surgeries. On the basis of end-user, this market is segmented into hospitals, ambulatory surgery centres and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

Technological innovations in the robotic systems, rising R&D funding and adoption of robotic surgeries by hospitals & ambulatory surgical centres, increased requirement of automation in healthcare sector, inclination towards advanced & high precision robotic surgeries are the key growth drivers in this market. However, higher expenses for robotic surgeries & robotic systems and rising no. deaths and/or injuries due to robotic surgeries are the impediment for the growth in the surgical robot market. Moreover, untapped & developing economies such as Brazil, India, China and other countries will create great opportunities for the growth of this market.

Geographic Analysis:

North America has dominated the global surgical robot market in 2019 and also anticipated to retain its dominance during the forecast period. Increased generality of cancer, neurovascular, cardiovascular gynaecology and other chronic diseases coupled with rise in advanced surgical treatments is anticipated to drive the market growth in the region. Additionally, more focus on technological advancement in robotic surgeries to provide efficient surgical procedures will bring positive effect in the market growth of the region during the forecast period. European SR market is expected to grow at a CAGR of 24.1% approx. with respect to rising adoption of robot assisted surgical operations. Urology has more focus in the region, EAU Robotic Urology Section (a European Association of Urology initiative) (ERUS) which is a scientific platform for urologists engrossed in the development of cutting-edge robotic surgeries coupled with factors such as fewer complications & shorter duration of hospitalization has brought the market growth. The Asia-Pacific region is expected to rise at a remarkably higher CAGR in the foreseeable period. Rise in the R&D and the usage of robotic surgery in cancer and other oncology sub-segment are key factors which is expected to drive the regional market growth. Laparoscopical & Neurological robotic surgeries are key growth drivers in this region. Increasing nerve-related disorders coupled with genetic nerve disorders brought more focus on surgical robot usage.

Competitive Scenario:

These are the key players in the global surgical robots market such as – Intuitive Surgical Inc., Medtronic plc. Stryker Corporation, Smith & Nephew plc, Zimmer Biomet, TransEnterix Surgical Inc., Verb Surgical Inc., THINK Surgical Inc., Medtech S.A., KUKA A.G.

Surgical Robots (SR) Market Report Scope