Surgical Robots Market Size, Share and Industry Analysis By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Regional Forecast, 2019 - 2032

The global surgical robots market size was valued at USD 1,463.0 million in 2018 and is projected to reach USD 22,381.6 million by 2032, exhibiting a CAGR of 21.5% during the forecast period (2018-2032). North America dominated the global market with a share of 71.46% in 2018. Growing demand for minimally invasive surgery, the aging population, and the increasing prevalence of chronic diseases are key drivers for the market.

Surgery has evolved from open-surgery to robotic surgery. Surgical robots can perform complex procedures with geometrical precision, even in anatomical areas that are difficult to reach by human surgeons. This is resulting in increased demand and adoption of the minimally invasive surgeries is one of the key drivers for the growth of the surgical robots industry. 

The increasing need for automation in healthcare, increasing geriatric population, increasing prevalence of chronic diseases, and highly complex surgical procedures are some of the major factors driving the surgical robotics market growth. The da Vinci surgical system manufactured by Intuitive Surgical Inc., is one of the well-known and widely used robotic surgical devices in the world.

SURGICAL ROBOTS MARKET GROWTH FACTORS

"Technological Advancements and Development of Procedure-Specific Surgical Robotic System Is Anticipated to Drive the Market"

Recently, Intuitive Surgical Inc. received U.S. Food and Drug Administration approval for its Ion system. The robotic endoluminal system is designed to permit doctors to conduct minimally invasive biopsies deep within the lung. The development of procedure-specific robotic system is one of the major factor driving the growth of the market. The increasing preference of minimally invasive robotic-assisted surgery is one of the factors anticipated to drive the market growth. 

Additionally, the increasing adoption and demand for surgical robots by medical professionals is expected to propel the growth of the market during the forecast period. However, the high cost of installation and lack of skilled professional are some of the factors that are likely to restrain this market’s growth to an extent.

Market Segmentation

Based on the application, the global market segments include general surgery, gynecology, urology, orthopedics, and others. On the basis of end user, the global market segments include hospitals, ambulatory surgery centers, and others. Among the application,the gynecology segment accounts for a considerable portion of the surgical robots industry share during the forecast period.

Increased adoption and high demand for mininally invasive surgical procedures is one of the major factor propelling the growth of the market. This factor is anticipated to have a higher demand for the surgical robots in the hospital segment during the forecast period, thereby impacting the surgical robots industry size.

Regional Analysis

"Increased Research and Development and Use of Surgical Robots for The Treatment of Cancer to Exhibit Highest CAGR in the Asia Pacific"

North America generated maximum revenue of US$ 1,045.5 Mn in 2018 and is expected to dominate the surgical robots market throughout the forecast period. The American Heart Association, in its publication Heart Disease and Stroke Statistics, 2016, estimated that 98 million American adults are suffering from different types of cardiovascular diseases. The increasing number of cardiovascular disease is anticipated to increase demand for minimally invasive surgeries, subsequently giving rise to demand for the robotic surgical systems in the region.

The Asia Pacific is anticipated to grow at a significantly higher CAGR during the forecast period. The increased research and development and use of surgical robots for the treatment of cancer and other oncology segment are some of the major factors anticipated to drive the growth of the surgical robot’s market in the Asia Pacific. Europe is projected to lose market share during 2019-2026, while Middle East & Africa is projected to gain market share during the forecast period. Latin America is poised to register moderate growth during 2019-2026.

Key Market Players

"Intuitive Surgical Inc. accounted for Highest Market Share in Terms of Revenue in 2018"

Intuitive Surgical Inc., is a leading player as per the market report. Intuitive Surgical Inc. is likely to retain its position during the forecast period owing to its diversified product portfolio and strong distribution network globally. In order to strengthen the market position, key surgical robots market players are focusing the introduction of the procedure specific robotic system. Other players operating in the global surgical robot’s market are Medtronic, Stryker, Smith & Nephew, Zimmer Biomet.

LIST OF KEY COMPANIES IN SURGICAL ROBOTS MARKET:

• Intuitive Surgical Inc.


• Medtronic


• Stryker


• Smith & Nephew


• Zimmer Biomet


• TransEnterix Surgical, Inc.


• Verb Surgical, Inc.


• THINK Surgical, Inc.


• Other Prominent Players

Report Coverage 

High investment by market players in the development of the procedure specific surgical robotic system is one of the major factors driving the growth of the global surgical robot’s market. Increasing cardiovascular diseases and increased demand for minimally invasive surgeries are also some of the major factors propelling the growth of the global market during the forecast period.

The surgical robots market report provides qualitative and quantitative insights on the surgical robots industry trends and detailed analysis of surgical robots industry size and growth rate for all possible segments in the market. The market is segmented by application and end user. On the basis of product, the market is segmented into general surgery, gynecology, urology, orthopedics, and others. On the basis of the end user, the surgical robots market is categorized into hospitals, ambulatory surgery centers, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, and Rest of World. The regions are further categorized into countries.

Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of key disease, by region; pricing analysis, key players; technology advances in medical robotic systems; key mergers and acquisitions; new product launches; among others.

Market Segments

Key Surgical Robots Industry Developments

• In May 2018, Intuitive Surgical Inc., received FDA clearance in the United States for da Vinci X Surgical System. The da Vinci X System will offer urologic surgical procedures for a single port approach.


• In January 2018, 3D Systems and Stryker had a distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals, saving both surgeons and patients hours in the operating room.


• In January 2019, Zimmer Biomet, received U.S. Food and Drug Administration clearance for the ROSA Knee System for robotically-assisted total knee replacement surgeries