Surgical Robots Market

The surgical robots market is projected to reach USD 23.7 billion by 2029 from USD 11.1 billion in 2024, at a CAGR of 16.5% during the forecast period. Growth in this market is majorly expanding as a result of aging populations, rising chronic disease rates, minimally invasive surgical techniques, technology breakthroughs and the increasing adoption of surgical robots globally.

The prominent players in the 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). These players have adopted various growth strategies such as product launches, acquisition, collabration, agreements, and expansion to increase their presence and reach in the surgical robots market.

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Intuitive Surgical develops robots that are used in surgical procedures. The company designs, manufactures, and markets robotic-assisted systems and other related instruments and accessories for surgical robots. In 2000, the company’s da Vinci system was the first-of-its-kind surgical robot to be cleared by the FDA for laparoscopic surgery. The da Vinci system is configured for various procedures, including prostatectomy, hysterectomy, hernia repair, cholecystectomy, partial nephrectomy, sacrocolpopexies, mitral valve repair, lobectomy, and colon & rectal procedures. Intuitive Surgical’s products are sold through direct sales organizations in the US and Europe. Approx 659 da Vinci surgical systems were placed under operating lease arrangements in 2023, while 355 were placed on usage-based operating leases. In India's biggest private and public institutions, there are currently over 800 robotically assisted surgeons and over 100 da Vinci robotically assisted surgical systems in place.

Stryker Corporation is a leading medical device company that operates through three key business segments: Orthopaedics, MedSurg, Neurotechnology and Spine. Orthopedic implants, surgical instruments, surgical navigation systems, patient management, disposables for critical care and emergency medical equipment, endoscopic procedures, and communications systems are some of its main items. The company’s product offerings include implants, surgical equipment & surgical navigation systems, endoscopic & communications systems, patient handling & emergency medical equipment, and neurosurgical, neurovascular, and spinal devices. In December 2013, the company acquired MAKO Surgical (US), a surgical robot manufacturing company. This acquisition enabled Stryker to enter the surgical robots market. Stryker offers surgical robots under its Orthopaedics and Spine business segment. The company has a strong geographical presence in the US, Canada, Europe, Japan, and Pacific and Latin American countries. It has 30 manufacturing facilities worldwide.

Medtronic Plc. holds third position in the surgical robots market in 2024. Medtronic is a medical technology, services, and solutions company that provides medical devices to hospitals, physicians, clinicians, and patients. The company markets various medical devices to treat spinal conditions, neurological disorders, cardiovascular diseases, respiratory disorders, orthopedic disorders, and diabetes. In January 2015, Medtronic, Inc. (Ireland) acquired Covidien plc (Ireland), and both companies were combined under the name Medtronic plc. The company changed its business segment in 2021 and now operates through four segments: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes. The Medical Surgical segment was formerly Covidien Plc. The Medical Surgical segment includes the Surgical Innovations and Respiratory, Gastrointestinal, and Renal subsegments. The Surgical Innovations segment offers surgical robots.  The company’s major customers include hospitals, clinics, third-party healthcare providers, distributors, and other institutions, including governmental healthcare programs and group purchasing organizations. The company operates in more than 150 countries worldwide.

Related Reports:

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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