This study involved four major activities in estimating the current surgical robots market size. Exhaustive secondary research was done to collect information on the market, peer market and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the surgical robots market. It was also used to obtain important information about the key players and market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the surgical robots market. The primary sources from the demand side included industry experts, purchase & sales managers, doctors, and personnel from research organizations. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends and key market dynamics.
A breakdown of the primary respondents for the surgical market is provided below:
Note 1: C-level primaries include CEOs, COOs, and CTOs.
Note 2: Others include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2023: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=<USD 500 million
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The research methodology used to estimate the size of the market includes the following details.
The market sizing of the market was undertaken from the global side.
Country-level Analysis: The size of the surgical robots market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products and services in the overall surgical robots market was obtained from secondary data and validated by primary participants to arrive at the total prefilled syringes market. Primary participants further validated the numbers.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by surgical robots and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall prefilled syringes market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
Global Surgical Robots Market Size: Top-Down Approach
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Global Surgical Robots Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Surgical robots are the latest medicinal gadgets developed to aid surgeons in carrying out complicated surgeries with more control, precision, and flexibility than they would have achieved had they operated using traditional means. Such systems normally consist of robotic arms equipped with specialized equipment and high-definition cameras, which are manipulated by a surgeon through a console. Surgical robots facilitate minimal invasion of surgery and reduce recovery time of patients, hence minimizing problems and optimizing the overall surgical outcome.
Key Stakeholders
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Surgical robot and related device manufacturing companies
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Manufacturers of surgical robotic system equipment and instruments
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Suppliers and distributors of surgical robot systems
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Third-party refurbishers/suppliers
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Healthcare start-ups, consultants, and regulators
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Hospitals (public and private)
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Ambulatory surgery centers (ASCs)
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Academic medical institutes
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Surgeons, physicians, and operating room staff
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Government agencies
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Group purchasing organizations (GPOs)
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Corporate entities
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Government institutes
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Market research & consulting firms
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Contract manufacturing organizations (CMOs)
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Venture capitalists & investors
Objectives of the Study
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To define, describe, and forecast the surgical robots market by offering, application, end user, and region
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To provide detailed information regarding the major factors influencing the growth of this market (such as drivers, restraints, challenges, and opportunities)
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To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall surgical robots market
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To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the size of the market segments with respect to five main regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
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To profile the key players and analyze their market shares and core competencies2
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To track and analyze competitive developments such as product launches & approvals, acquisitions, expansions, partnerships, deployments, agreements, and collaborations in the overall surgical robots market
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To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
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Further breakdown of the Rest of Europe surgical robots market into Belgium, Russia, the Netherlands, Switzerland, and other countries.
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Further breakdown of the Rest of Asia Pacific surgical robots market into Indonesia, Philippines, Vietnam, Hong Kong, and other countries
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Further breakdown of the Rest of Latin America surgical robots market into Colombia, Peru, and other countries.
Growth opportunities and latent adjacency in Surgical Robots Market