Surgical robots are advanced computer-controlled devices designed for minimally invasive and laparoscopic procedures. They utilize miniature surgical instruments to replicate the precise movements of a surgeon's hands through small incisions. With numerous benefits such as faster recovery, reduced post-operative discomfort, and decreased risk of infection and scarring, these robots have revolutionized the field of minimally invasive surgery. Their application in surgical procedures has seen significant growth in recent times.
According to Data Bridge Market Research, the Surgical Robots Market accounted for USD 4.4 billion in 2022, and is expected to reach USD 16.54 billion by 2030. The market is expected to grow with a CAGR of 18% in the forecast period of 2023 to 2030.
“Rise in regulatory approvals for surgical robots”
The increasing number of regulatory approvals is driving the market growth of surgical robots. For instance, Intuitive Surgical Inc's Ion robotic surgical system received FDA clearance in 2019. The rising adoption of assisted surgeries, particularly hysterectomies, consistent approvals from regulatory authorities and the substantial investments made by manufacturers in research and development of automated robotic systems, are pivotal factors contributing to the expansion of the market. Hence, this factor significantly propels the market growth.
What restraints the growth of the surgical robots market?
“Lack of skilled professionals”
A significant barrier to the growth of the global surgical robot market is the scarcity of skilled professionals proficient in operating robotic systems. Safety and integration concerns further add complexity to the market landscape. The challenges in handling these advanced systems limit their widespread adoption, particularly in underdeveloped regions with a shortage of trained professionals. Consequently, this factor acts as an impediment to the market's expansion.
Segmentation: Global Surgical Robots Market
The surgical robots market is segmented on the basis of product type, brands, application and end-users
- On the basis of product type, the surgical robots market is segmented into instruments, robotic systems, accessories, and services.
- On the basis of brands, the surgical robots market is segmented into DA vinci surgical system, cyberknife, renaissance, ARTAS, ROSA, others.
- On the basis of application, the surgical robots market is segmented into general surgery, urological, gynaecological, gastrointestinal, radical prostatectomy, cardiothoracic surgery, colorectal surgery, radiotherapy, others.
- On the basis of end-users, the surgical robots market is segmented into clinic, hospital, ambulatory care centers, others.
Regional Insights: North America dominates the Surgical Robots Market
North America dominates the surgical robots market due to the presence of prominent market players has contributed to the growth of the surgical robot market in the region. Furthermore, continuous advancements in robotics are expected to drive further expansion during the forecast period. Moreover, the rising prevalence of chronic disorders like diabetes, cancer, and cardiovascular diseases in the U.S. is fueling the adoption of automated surgical equipment, thereby boosting the market in this geographical area.
Asia-Pacific is expected to dominate the market owing to the advancements in instrument development have played a significant role in driving the growth of the surgical robot market. Moreover, the rising awareness about the advantages of robotic surgeries is anticipated to contribute to the market's expansion in the region in the coming years.
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Recent Developments
- In February 2021, Medtronic acquired Digital Surgery, a privately held surgical AI company specializing in digital education, data analytics, and training. Medtronic hopes to strengthen its robot-assisted surgical platform and expand its robotic system portfolio by acquiring Hugo, a new robot.
The Prominent Key Players Operating in the Surgical Robots Market Include:
- Intuitive Surgical Inc (U.S.)
- Stryker (U.S.)
- Medrobotics Corporation (U.S)
- Johnson & Johnson Private Limited (U.S.)
- Globus Medical (U.S.)
- NuVasive Inc. (U.S.)
- Smith + Nephew (U.K.)
- Titan Medical Inc (Canada)
- TransEnterix Inc (U.S.)
- University of Pittsburgh Medical Center (U.S.)
- Mazor Robotics (Israel)
- Auris Health Inc. (U.S.)
- Corindus Inc. (U.S.)
- Renishaw plc (U.K.)
- Medineering GmbH (Germany)
- Medtronic (Ireland)
- Renishaw plc. (U.K.)
- Preceyes BV (Netherlands)
- MicroSure (Netherlands)
- avateramedical GmbH (Germany)
- Siemens (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of surgical robots market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Surgical Robots Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
