Surgical Robots Market

The report "Surgical Robots Market by Product (Instruments & Accessories, Systems, Services), Application (Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End user (Hospitals, Ambulatory Surgery Centers)- Global Forecast to 2029", is projected to reach USD 23.7 billion in 2029 from USD 11.1 billion in 2024, at a CAGR of 16.5% between 2024 and 2029.

Browse 355 market data Tables and 59 Figures spread through 319 Pages and in-depth TOC on "Surgical Robots Market by Product (Instruments & Accessories, Systems, Services), Application (Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End user (Hospitals, Ambulatory Surgery Centers)- Global Forecast to 2029"
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The growth of the surgical robots market is primarily driven by factors such as increasing cases of chronic diseases, mounting demand for minimally invasive procedures, and technological advancement. Technological advancement has made surgical robots more accurate, adaptive, capable, enabling them to improve patient outcomes and reduce recovery time. Moreover, the adoption of robotic systems has accelerated because of increased preference towards less invasive procedures, which are generally less painful, less complicated, and have faster recovery rates. In addition, the need for sophisticated surgeries has increased with the aging of the global population and a rise in chronic diseases, such as cancer and cardiovascular diseases. This has resulted in growing interest in robotic systems as handy instruments for enhancing the precision and safety of surgery.

Instruments & Accessories segment is expected to account for the largest share, by offering in the surgical robots market during the forecast period.

Instruments and Accessories being recurrent and essential for robotically assisted procedures, instruments and accessories capture the largest share of the surgical robots market. These include robotic arms, end-effectors, and specialty surgical tools that are routinely improved or replaced in service to maintain efficiency and safety requirements. With so many surgeries done with the aid of a robotic system, demand for tools and accessories is always needed; therefore, it continually provides great profit streams for manufacturers. Their leading market position is also partially due to the fact that there is an advancement in highly sophisticated procedure-specific tools, a requirement for sterilization, and single-use products.

General Surgery segment is expected to account for the largest share, by application in the surgical robots market during the forecast period.

General surgery accounted for the largest share of the surgical robots market because of its wide application area and growing usage of robotic systems for cholecystectomies and in hernia repairs, among many others. Enhanced accuracy and less invasion by the robots provide improved patient outcomes and reduced surgeon fatigue. It has also been driven by the incidences of a wide range of diseases, from obesity to gastrointestinal diseases, that usually demand surgical treatment. Moreover, general surgery continues to dominate this market because of innovations in robotic technology and its greater acceptance on the part of health professionals.

Hospitals & Clinics segment is expected to account for the largest share, by end user in the surgical robots market during the forecast period.

Hospitals and clinics still hold the largest market share of surgical robots because of their huge investments in the best medical technologies at their disposal to enhance care and surgeries. They are the primary centers of activity that cater to the most complex surgeries, many of which require an extended capability and accuracy offered by robotic systems. With increased accuracy, reduced complication rates, and faster recovery time, surgical robots are more aligned with the minimally invasive treatments that hospitals aim for to achieve patient satisfaction and operational efficiency. Also, domination of this industry by surgical robots is due to another factor: the availability of highly qualified doctors who are trained in robotic surgery working in hospitals and a continuous need for specialized surgical procedures.

In 2023, North America accounted for the largest share of the surgical robots market.

The surgical robots market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa, and the GCC Countries.

North America dominates the share of the surgical robots market due to the presence of a well-established, advanced healthcare system and rapid adoption rate of advanced technologies, coupled with high R&D expenditure. It is home to key surgical robot manufacturers and highly experienced professionals, wherein a strong regulatory framework encourages the development of innovative technologies in medical science. The rising prevalence of chronic diseases and favorable reimbursement policies are other major factors boosting the demand for surgical robots in North America.

Key Market Players:

The key players in the global surgical robots market are Intutive 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), Novus Arge (Turkey).

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