Surgical Robots Market
The global surgical robots market in terms of revenue was estimated to be worth $8.5 billion in 2023 and is poised to reach $18.4 billion by 2030, growing at a CAGR of 16.6% from 2023 to 2030. The new research study consists of an industry trend analysis of the market. The new study report covers industry trends, price analysis, patent analysis, conference and webinar materials, important stakeholders, and market purchasing behaviour. The surgical robot industry is growing due to technical breakthroughs in surgical robots and the benefits of robotic-assisted surgery.
Surgical Robots Market Dynamics
Driver: Advantages of robotic-assisted surgery
Globally, due to benefits such as smaller incisions, fewer cuts, less scarring, reduced pain, increased safety, faster recovery times and significant cost savings, minimally invasive surgeries (MIS) are on the increase. Minimally invasive robotic surgery adds to these benefits by providing greater precision, repeatability, control and efficiency. These procedures also offer highly advanced visualization capabilities that help surgeons get a superior view of the operating area and use HD cameras to illustrate microscopic structures. These systems offer greater dexterity than the human hand; given their 360-degree rotation capability and superior maneuverability, robots can allow surgeons to reach hard-to-reach areas. These advantages of surgical robots along with the growing demand for better and faster healthcare services are expected to drive the market growth in the coming years.
Restraint: high cost of robotic systems
Robot-assisted surgeries cost more than minimally invasive surgeries. It is recommended by the American Congress of Obstetricians and Gynecologists that robotic hysterectomy be used only for unusual and complex clinical conditions. The association states that in the United States, adopting robotic surgery for all hysterectomies would add approximately $960 million to the annual cost of hysterectomy surgeries. SS Innovations (India) has launched Mantra, a robotic surgical system which costs around Rs 4.5 crore, while the Da Vinci system, one of the most commonly used robotic systems, costs between 1.5 and 2.5 million USD (Rs 15 crore) (Source: Business Standard, September 2022). Rising cost of surgeries due to the use of robotic systems is therefore expected to restrain the growth of the medical robot market.
Opportunity: Increasing penetration of surgical robots in ASCs
Day surgery, also called outpatient surgery, day surgery, day surgery, or day surgery, does not require an overnight hospital stay. The term "outpatient" means that patients can enter and leave the facility on the same day. Greater convenience and lower costs are the advantages of outpatient surgery over inpatient surgery. Ambulatory Surgical Centers (ASCs) are stand-alone facilities that specialize in surgical, diagnostic, and preventive procedures that do not require hospitalization. The cost-effectiveness of ASCs provides significant cost savings to governments, third-party payers and patients. Medicare and its beneficiaries save money each year because they pay far less for procedures performed at CHWs than the rates paid to hospitals for the same procedures. Patient co-payments are also significantly lower when care is received in a CHW. Due to these cost advantages, there has been a rapid increase in the number of surgeries performed in CHWs and outpatients, while inpatient visits have decreased.
Challenge: Surgical Errors
Surgical errors are a serious public health problem and a leading cause of death. Surgical errors are a leading cause of injury in healthcare systems. Globally, unsafe surgical care procedures cause complications in up to 25% of patients. Every year, approximately 7 million people experience surgical complications, among which more than 1 million people die (source: WHO, Patient Safety 2019). According to the NCBI, at least 4,000 surgical errors occur each year in the US. Therefore, many patients are reluctant to undergo surgical procedures, hindering the adoption of surgical robots by surgeons.
The surgical robots market was dominated by the tools and accessories sector.Based on product and service, the market has been segmented into robotic systems, instruments and accessories, and services. In 2021, the instruments and accessories segment accounted for the largest share of the surgical robot market. Growth in this segment is largely attributed to the recurrent purchase of instruments and accessories instead of robotic systems.
The surgical robotics market was dominated by the laparoscopic robotic system sector.
Based on robotic systems, the market has been segmented into laparoscopy robotic systems, orthopaedic robotic systems, neurosurgical robotic systems, and other systems. The laparoscopy robotic system segment held the largest share of the market in 2021. The growing number of laparoscopic surgeries is the key factor supporting the segment's largest share.
The category of urological surgery accounted for the second biggest proportion of the surgical robots market.
By application, the market has been segmented into general surgery, urological surgery, gynaecological surgery, orthopaedic surgery, neurosurgery, and other applications. The orthopaedic robotic system segment held the second-largest share of the market in 2021. An increasing number of robotic urological surgeries will fuel the demand for surgical robots.
Ambulatory surgery centres have the second highest proportion of the surgical robotics market.
Based on end users, the market is segmented into hospitals, clinics, and ambulatory surgery centers. Hospitals and clinics will account for the largest share of the market. In 2021, the ambulatory surgery centres segment accounted for the second-largest share of the surgical robot market. The large share of this segment can be attributed to the adoption of surgical procedures offered by ASCs at a lower cost than hospitals.
The market for surgical robots was dominated by North America.
North America will account for the largest share of the market. The region's large share can be attributed to the surge in the adoption of surgical robots by hospitals in the country, the increasing volume of robotic-assisted surgical procedures, and the favourable reimbursement policies.
The prominent players in the surgical robot market are Intuitive Surgical (US), Stryker Corporation (US), Medtronic Plc (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (US), Siemens Healthineers (Germany), CMR Surgical (UK), Johnson & Johnson (US), and Renishaw Plc. (UK).
Surgical Robots Market Report Scope
The study categorizes the Surgical robots market to forecast revenue and analyze trends in each of the following submarkets:
By Product & Service
- Instruments & Accessories
- Robotic Systems
- Laparoscopy Robotic Systems
- Orthopedic Robotic Systems
- Neurosurgical Robotic Systems
- Other Systems
- Services
By Application
- General Surgery
- Gynecological Surgery
- Orthopedic Surgery
- Urological Surgery
- Neurosurgery
- Other Applications
By End User
- Hospitals & Clinics
- Ambulatory Surgery Centers
By Region
- North America
- Canada
- US
- Europe
- UK
- Germany
- Italy
- France
- Spain
- Switzerland
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Latin America
- Middle East & Africa
Recent Developments
- In 2022, BGS Beta-Gamma-Service GmbH & Co. KG expanded its laboratory in Wiehl to meet the increased need for sterilisation services in the sectors of biotechnology, medicine, and diagnostics for radiation cross-linking.
- In 2022, Sterigenics expanded its electron beam facility located in Columbia City, Indiana. This facility provides mission-critical E-beam sterilisation services to help ensure the safety of medical devices and drug products.
- In 2021, STERIS acquired Cantel, which is a provider of infection prevention services, and this acquisition will strengthen STERIS' leadership in infection prevention by bringing together two complementary businesses.
- In 2020, STERIS added X-rays to its product portfolio in addition to the existing gamma irradiation by expanding its facility in Thailand.