Surgical Robots Market Size, Share & Trends

Updated on : September 24, 2024

Overview of the Surgical Robots Market

Surgical Robots market forecasted to transform from $11.1 billion in 2024 to $23.7 billion by 2029, driven by a CAGR of 16.5%. A surgical robot is a medical instrument designed to assist surgeons in performing the most challenging surgical procedures with utmost control, precision, and flexibility. The surgical robot setup comprises robotic arms with specialty surgical tools attached to the end, a camera system for improved visualization, and a control console operated by the surgeon.

The market for surgical robots is driven by reasons such as a lesser requirement for invasive procedures, increasing adoption of these machines in hospitals, and technological advancements. These robots disburse an increased level of control, precision, and flexibility as opposed to traditional methods. This translates to affirmative patient outcomes and lowers the recovery time. Chronic diseases and an aging population propel the market toward the development of more intricate solutions in surgeries. Large corporations continue with innovation, implementation of new systems, and an increase in the product portfolio, which aids in growing the market.

In this report, the surgical robots market is segmented into offering, application, end user, and region.

Surgical Robots Market Trends

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Surgical Robots Market Dynamics

Driver: Increasing adoption of surgical robots

Surgical robots are being adopted increasingly into the market due to their enhanced precision, control, and flexibility in surgeries. Better patient outcomes with reduced human errors promote growth in demand for such systems. Other contributors include the rising number of minimally invasive procedures and technological advancements in these systems, like AI integration, which are making them more reliable and attractive. This growing comfort of surgeons with the systems, together with the possibility of reducing costs by shortening hospital stays and decreasing complications, has also contributed to their rising use. Their adoption is accelerated in many medical fields by expanding regulatory approvals and a wider field of surgical applications.

Restraint: High cost of robotic systems

Advanced technology, huge research and development expenses, and careful manufacturing are the major factors that make robotic systems expensive in the surgical robots market. Such systems employ very advanced robotics technology and AI and machine learning algorithms that require huge investments to build up and maintain. Further, high-quality sensors, cameras, and surgical instruments, along with stringent norm-based testing and clearances, add up to raising the cost of these products. Increasing maintenance, training, and specialized requirements for an operating room setup heighten costs even more and make these systems expensive for healthcare providers; thus, their wide diffusion is hampered despite their clinical benefits.

Opportunity: Increasing penetration of surgical robots in ASCs

ASCs are being adopted to bring enhancements in terms of precision, recovery time, and minimization of complications that occur, thereby improving the experience of patients. The trend towards minimally invasive procedures that the robots support places itself squarely in the goals of the ASCs efficient and cost-effective care. In addition, improved versatility and accessibility of robotic systems due to continuous advancements have placed more surgeries within the grasp of ASCs. This, in turn, is raising the demand for surgical robots in such outpatient settings, driven by the prospect of shorter hospital stays, less healthcare expenditure, and increased patient throughput.

Challenge: Surgical errors

Most surgical errors in the robotic surgery market are due to technical glitches, software malfunctioning, or operator errors. Such errors can lead to undesired movements or lapses in precision during procedures. Robotic systems will improve the accuracy of surgery. Still, the complexity and dependence on the skill of human operators—the ones operating these systems—mean that even very rare errors cannot be eliminated. The ongoing development in this area is focused on enhancing system reliability, user interface, and training to help minimize such risks as much as possible.

Surgical Robots Market Ecosystem

The Surgical Robots Market, from a broad point of view, comprises an intricate network with a wide range of stakeholders, including supplies of varied components of robots and software developers, other service providers associated with maintenance and training, organizations in manufacturing robotic surgery, healthcare providers, regulatory bodies, and end users like hospitals and surgical centers. It also includes suppliers of robotic components, developers of software, and service providers for maintenance and training. The major companies that involve cutting-edge innovation with relatively high competition, such as Intuitive Surgical, Medtronic, and Stryker, register the most significant share of revenues.

By offering, the instruments & accessories segment holds the largest share in the surgical robots industry.

The instruments and accessories category is likely to have the greatest share in the surgical robots market because these are integral parts of every procedure and are regularly replaced or replenished. Unlike robotic systems, which are capital-intensive but purchased less often, instruments and accessories include consumables; therefore, each surgery generates continued demand. Another driver of demand is the increase in minimally invasive surgeries, attained by heavy reliance on robotic systems, because the instruments are very crucial for such surgeries to ensure precision in repetitive tasks.

By application, the general surgery segment is expected to hold the largest market share in the surgical robots industry.

General surgery is the most-reported application in the surgical robots market. It holds the majority share because of its diversified application in multiple procedures and the versatility of robotic systems. These surgeries, such as operations on the digestive tract, gallbladder, colon, and other abdominal organs, are commonly conducted and require a high degree of precision and flexibility, which has supported the adoption of robotic systems. Other drivers behind the rise of robotic platforms in general surgeries are the increasing preference for minimally invasive procedures due to the drastically reduced recovery time and chance of developing complications.

By end user, hospitals & clinics are expected to hold the largest share of the surgical robots industry.

Hospitals and clinics dominate the end user segment for surgical robots market. Advanced technologies are used in complicated procedures in these places, and they are capable of investing in the purchase of expensive and innovative high-cost equipment. They, therefore, are the main adopters of surgical robots and show the highest demand for means to improve surgical quality and operational efficiency. Moreover, the growing trend of robotic-assisted surgeries, because of their advantages like lesser recovery time and reduced post-operative pain, has cemented the position of hospitals and clinics.

North America will account for the largest market share of the global surgical robots industry in the forecast period.

North America held the largest share in the surgical robots market, driven by a mix of factors: advanced healthcare infrastructure, high adoption rate for new medical technologies, and huge investments in research and development. This region had an established network of tier-I hospitals and medical centers, all of which were early movers in acquiring the latest in surgical robotics. Added to this, the presence of big industry players and a favorable regulatory framework have accelerated the introduction of new robotic systems. This region has a high expenditure on healthcare, and recently, more focus has been given to minimally invasive procedures and robot-assisted surgeries.

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The key players in the Surgical Robots Market include Intuitive Surgical (US), Stryker (US), Medtronic (Ireland), Smith+Nephew (UK), Zimmer Biomet (US), Asensus Surgical (US), Siemens Healthineers (Germany), CMR Surgical (UK), Johnson & Johnson (US), Renishaw Plc (UK), avateramedical GmbH (Germany), Brainlab AG (Germany), THINK Surgical (US), Medicaroid Corporation (Japan), Globus Medical, Inc. (US), Corin Group (UK), eCential Robotics (France), Titan Medical, Inc. (Canada), TINAVI Medical (China), Monteris (US), Microsure (Netherlands), Medical Microinstruments (US), Momentis Innovative Surgery (Israel), Distalmotion (Switzerland), and Novus Arge (Turkey).

Scope of the Surgical Robots Industry:

The research report categorizes surgical robots market to forecast revenue and analyze trends in each of the following submarkets:

By Offering

• Instruments & Accessories
• Robotics Systems
  • Laparoscopic Robotic System
  • Orthopedic Robotic System
  • Neurosurgical Robotic System
  • Other Robotic System
• Services

By Application

• General Surgery
• Gynecological Surgery
• Orthopedic Surgery
• Urological Surgery
• Neurosurgery Surgery
• Microsurgery Surgery
• Otological Surgery
• Other Applications

By End User

• Hospitals & Clinics
• Ambulatory Surgery Centers

By Country

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • Rest of Middle East and Africa

Recent Developments of Surgical Robots Industry:

• In June 2024, Stryker (US) announced it would bring its innovative products, platforms, and robotic technologies to IRCAD North America (IRCAD NA), a subsidiary of Atrium Health, as part of a multi-year agreement supporting the creation of a cutting-edge experiential education center in Charlotte, US.
• In June 2024, Medtronic (Ireland) entered into an asset purchase and license agreement with Titan for an upfront payment of USD 8.0 million in respect of certain intellectual property of Titan.
• In June 2024, THINK Surgical (US) signed a limited exclusive distribution and supply agreement with Zimmer Biomet. This agreement will integrate ZB technology into a customized TMINI robotic solution for total knee arthroplasty.
• In June 2024, Smith+Nephew (UK) launched the CORIOGRAPH Pre-Operative Planning and Modeling Services for knee arthroplasty procedures.
• In April 2024, Stryker (US) acquired mfPHD, a leader in modular stainless steel wall systems for hospitals and ambulatory surgery centers.

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