Surgical Robotics Market Size USD 21.3 Billion By 2030

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The global surgical robotics market size accounted for USD 5.36 billion in 2021 and is expected to reach around USD 21.3 billion by 2030, growing at a CAGR of 16.57% during the forecast period from 2022 to 2030.

The scarcity of physicians and surgeons and globally and the increasing acceptance of electronic medical devices used for performing surgeries are some of the prime factors propelling the market growth in terms of value sales. In addition, the surge in investments by the regional as well as international market players in product development and technologically advanced has also positively impacted the surgical robotics market growth.

From the past few years, there has been a significant growth in the adoption of surgical robotics all across the globe. This is majorly attributable to the various advantages offered by the surgical robotics including lesser hospital stay, high precision, good screening, and low chances of infection, less discomfort and pain, low flow of blood& blood transfusion and others. Thereby propelling the overall market growth in terms of value sales. Additionally, the rising number of neurological, gynecological, as well as urological problems are some of key factors that fuel the overall surgical robot industry growth. In addition to this, the launch of novel & sophisticated robots is expected to meet the rising requirement of the end user’s industry which in turn will further drive the market growth.

Additionally, the major factors propelling the surgical robotics market growth are rising demand for advance technology in the medical sector and the moving trends towards modern robotics surgeries. However, high cost of the surgeries done through surgical robotic system is anticipated to hamper the growth the overall surgical robotics market during the forecast period. Furthermore, the upsurge in death rates owing to the robotics surgeries also drive the surgical robotics market growth in terms of value sales.

Surgical Robotics Market Report Scope

Report Highlights

• On the basis of application, others segment holds the largest market share in the global market and is anticipated to retain its dominance during the forecast period. However, the neurosurgery segment is expected to be the fastest growing segment during the forecast period in terms of value sales.
• By region, North America accounted for the largest market share in the global surgical robotics market. However, Asia-Pacific is expected to be the fastest growing market for the surgical robotics.

Regional Snapshot

North America dominated the surgical robotics market share in the year 2020. Rising advance medical facilities in developed nations like U.S., along with the rising demand for automated surgical devices, are bolstering the market growth in this region. Apart from, the insufficiency of medical professionals as per the number of patients in U.S. is anticipated to fuel the growth of the industry. Moreover, the rising prevalence of chronic disease including diabetes, cancer, and cardiovascular ailments in U.S. is promoting the acceptance of advance surgical robotics, which is contributing in fueling the growth of the market growth.

However, the Asia-Pacific region is likely to be the fastest growing region during the forecast years. This is attributable to the increasing number of patient population as well as rising acceptance of modern automated surgical equipment. Additionally, rising awareness regarding modern healthcare technology, along with rising advance medical facilities, is likely to fuel the growth of the market in this region. Furthermore, increasing government initiatives to build advanced healthcare infrastructure is likely to propel the growth of the market in this region during the forecast period.

Surgical Robotics Market Dynamics

Drivers

Benefits associated with the use of surgery assisted with robots to augment market growth

The rising demand for the use of surgical robotics is majorly owing to the various benefits associated with the procedures including fewer cuts, smaller incisions, reduced pain, decreased scarring, increased safety, quick recovery periods, substantial cost saving. The robotic MIS(minimally invasive surgery)has advantages such as it ensures high accuracy, control, repeatability, and efficiency. The surgical robotics also provides excellent modern visualization capabilities which offer medical experts with a clear image of operating area, using sonographic, HD camera and others in order to demonstrate microscopic structure. The systems offer great dexterity as compared to the human hand, with capability to move 360 degrees &superior mobility, robots enable medical experts to access hard-to-reach areas. Therefore, the aforementioned benefits associated with the surgical robotics along with the growing demand for good medical services are likely to fuel the overall growth of the surgical robot industry during the forecast period.

Restrain

High price of robotic system

There Robotic surgery is costly than the MIS (minimally invasive surgery). The robotic hysterectomy is suggested by American Congress of Obstetricians and Gynecologists for complex and uncommon medical conditions. According to the association, implementing the robotic surgeries for hysterectomies may add approximately$960 Mn to annual cost of the hysterectomy surgeries in the U.S. The da Vinci system is one of the popular robotic system that priced between $ 1.5 Mn and $2.5 Mn per unit, whereas CyberKnife robotics system priced approximately $4 Mn per unit. Furthermore, the yearly cost of maintenance of the surgical robotics is near to $125,000, adding to already exorbitant cost of robotic surgeries. The robotic surgical procedure costs between $3,000 to$6,000.The increasing cost of robotic surgeries owing to the usage of robotic system is expected to hamper the surgical robotics market growth during the forecast period in terms of value sales.

Opportunities

Growing adoption of the surgical robotics in ambulatory surgical centers (ASCs)

ambulatory surgical centers are self-contained facilities that specialize in non-hospital preventive, diagnostic and surgical procedures. The low cost of ASCs saves third-party payer, governments, and patient medical expense. As a result, ASCs, particularly in the United States, are progressively acquiring modern robotics for treating crucial cases. Some ASCs that use the Vinci Surgical System to perform minimally invasive procedures are Health East Ambulatory Surgical Center, Hutchinson Ambulatory Surgery Center and Atlanta Minimally Invasive Gynecologic Surgery Center. MAKOplasty, a robotic-arm guided orthopedic procedure, is also available at San Francisco Surgery Center and Midtown Surgery Center. As a result, the rising number of ambulatory surgery center (ASCs) offering robotic specialized surgeries presents a huge opportunity for surgical robot market players.

Challenges

Impact on the Surgical Robotics Market

The COVID-19 pandemic has had a devastating global economic and population impact. Healthcare industry was severely strained due to the pandemic. During this time, healthcare institutions and providers have been instructed to suspend elective surgical procedures and medical examinations in order to mitigate the chance of transmission as well as to conserve the healthcare resources for patients affected by Covid-19 virus. The pandemic has resulted in a temporary ban on elective surgeries around the world, resulting in cancellations of elective surgeries that have a negative impact on the global economy.

Key Players:

• Medrobotics
• Renishaw plc.
• TransEnterix Surgical, Inc.
• Intuitive Surgical
• Medtronic plc.
• THINK Surgical Inc. 
• Zimmer Biomet Holdings Inc.
• Smith & Nephew Plc. (Blue Belt Technologies, Inc.)       
• Auris Surgical Robotics, Inc. (Hansen Medical Inc.)
• Intuitive Surgical, Inc.
• KUKA AG
• Stryker Corporation (MAKO Surgical Corp.)
• Mazor Robotics

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