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GLOBAL SURGICAL ROBOTICS MARKET FORECAST 2021-2028

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GLOBAL SURGICAL ROBOTICS MARKET FORECAST 2021-2028

The global surgical robotics market is expected to reach $16.53 billion by 2028, growing at a CAGR of 10.73% during the forecast period. The base year considered for the study is 2020, and the estimated period is between 2021 and 2028. The market study has also analyzed the impact of COVID-19 on the surgical robotics industry qualitatively and quantitatively.

GLOBAL SURGICAL ROBOTICS MARKET FORECAST 2021-2028

Global Surgical Robotics Market by Product & Service (Robotic Systems, Instruments & Accessories, Services) Market by Application (Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Applications) Market by End-user (Hospitals, Ambulatory Surgery Centers) and by Geography

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The global surgical robotics market is expected to reach $16.53 billion by 2028, growing at a CAGR of 10.73% during the forecast period. The base year considered for the study is 2020, and the estimated period is between 2021 and 2028. The market study has also analyzed the impact of COVID-19 on the surgical robotics industry qualitatively and quantitatively.
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Key factors driving the global surgical robotics market growth are:

  • Artificial intelligence and other technological advancements
    • Artificial Intelligence and technological advancements are the key growth drivers in the medical/surgical robotics market. AI-based algorithms combined with the precision and control of surgical robots are revolutionizing surgical methods. AI is additionally getting used with machine vision to research scans and detect cancers. It has the potential to revolutionize surgical methods and the best quality patient care.
    • With the assistance of advanced technology, newer robots are constructed of sentimental, flexible, and deformable materials. The utilization of biocompatible soft materials, super-elastic materials, and 3D-printed soft plastics like silicon elastomers, make them safe.
  • Growing number of robotics in the healthcare industry
  • Increasing geriatric population

Key factors restraining the market growth are:

  • Higher cost of surgical robots
    • Surgical robots are expensive to maintain, and their operation needs further training, which is additionally expensive. A significant direct investment in capital instrumentality is required to adopt surgical robotics, which results in a higher cost of procedures.
    • The main challenge with robotic surgery is the high cost of the equipment & its maintenance, leading to high prices in treatments or operations. For example, a single robot costs about $2 million.
  • Safety and security
  • Lack of training in robotic surgeries

The report on the global surgical robotics market includes the segmentation analysis of product & service, end-user, and application.

Market by Product & Service:

  • Instruments & Accessories
    • In 2020, the majority of market share was captured by instruments & accessories in the market by product & service. The instruments & accessories of surgical robotics improve overall productivity and profitability, and enhance the existing benefits of robotic technology. Zimmer Biomet Holdings Ltd., Smith & Nephew Plc, Intuitive Surgical Inc., Medtronic Plc, Asensus Surgical Inc., etc., are some companies that provide surgical instruments & accessories.
    • The accessory technology is also evolving rapidly as higher productivity drives demand for surgical instruments & accessories.
  • Robotic Systems
  • Services

Geographically, the global surgical robotics market has been segmented on the basis of four major regions, which includes:

  • North America: The United States and Canada
    • North America is anticipated to be the most dynamic regional market with a share of 53.30% in 2020. The region is the largest consumer in the surgical robotic systems, owing to the demand for advanced surgeries in major economies, such as the United States and Canada. Da Vinci Surgical System is the most used robotic surgical system in the United States.
    • The United States is one of the biggest markets for surgical robots. The robotic-assisted surgeries conducted within the United States are more than any other country globally. The trend is in the direction of robotic-assisted surgery.
  • Europe: The United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of World: Latin America, the Middle East & Africa

The major players in the global surgical robotics market are:

  • Intuitive Surgical Inc
  • Medtronic Plc
  • Stryker Corporation
  • Zimmer Biomet Holdings Inc
  • Asensus Surgical Inc
  • Smith & Nephew Plc

Key strategies adopted by some of these companies:

In January 2021, Stryker Corporation acquired OrthoSensor, Inc. to empower surgeons with comprehensive data-driven solutions for total joint replacement. In October 2020, Accuray Incorporated entered into collaboration with Brainlab to expand the Accuray CyberKnife treatment platform for the neuro-radiosurgery market. In September 2020, UK-based medical devices company CMR Surgical (CMR) launched Versius Surgical Robotic System in France.

Key trends of the global surgical robotics market:

  • Artificial intelligence is being used in surgical robots for analyzing scans and surgeries, detect cancers, and facilitate instrument positioning.
  • Remote surgery is an emerging surgical system that facilitates surgical collaboration amongst surgeons at different medical centers in real-time.
  • Miniature robots are being developed for performing laparoscopic and natural orifice transluminal endoscopic surgical procedures.

 

Frequently Asked Questions (FAQs):

  • How much was the value of the surgical robotics market in 2020?

A: The surgical robotics market size was valued at $5.53 billion in 2020.

  • Which is the most used surgical robotic system worldwide?

A: Da Vinci Surgical System is the most used surgical robotic system worldwide.

  • What are the benefits of surgical robotic systems?

A: The benefits of surgical robotic systems include reduced blood loss, small incisions, low risk of infection, short hospital stay, less pain, quick recovery time, less scarring, etc.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • KEY DRIVERS
      • ARTIFICIAL INTELLIGENCE AND OTHER TECHNOLOGICAL ADVANCEMENTS
      • INCREASED ADOPTION OF ROBOTICS IN HEALTHCARE INDUSTRY
      • INCREASING GERIATRIC POPULATION
    • KEY RESTRAINTS
      • HIGHER COST OF SURGICAL ROBOTS
      • SAFETY AND SECURITY
      • LACK OF TRAINING IN ROBOTIC SURGERIES
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON SURGICAL ROBOTICS MARKET
    • KEY MARKET TRENDS
    •    PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  2. MARKET BY PRODUCT & SERVICE
    • ROBOTIC SYSTEMS
    • INSTRUMENTS & ACCESSORIES
    • SERVICES
  3. MARKET BY APPLICATION
    • GYNECOLOGICAL SURGERY
    • UROLOGICAL SURGERY
    • NEUROSURGERY
    • ORTHOPEDIC SURGERY
    • GENERAL SURGERY
    • OTHER APPLICATIONS
  4. MARKET BY END-USER
    • HOSPITALS
    • AMBULATORY SURGERY CENTERS
  5. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •     EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    •     ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    •     REST OF THE WORLD
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PARTNERSHIPS & AGREEMENTS
    • COMPANY PROFILES
      • ACCURAY INCORPORATED
      • ASENSUS SURGICAL INC
      • AURIS HEALTH INC
      • CMR SURGICAL
      • GLOBUS MEDICAL INC
      • INTUITIVE SURGICAL INC
      • MEDROBOTICS CORPORATION
      • MEDTRONIC PLC
      • SMITH & NEPHEW PLC
      • STEREOTAXIS INC
      • STRYKER CORPORATION
      • SYNAPTIVE MEDICAL INC
      • THINK SURGICAL INC
      • TITAN MEDICAL INC
      • ZIMMER BIOMET HOLDINGS INC

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – SURGICAL ROBOTICS

TABLE 2: TOP COUNTRIES WITH LARGEST PERCENTAGE OF OLDER POPULATION

TABLE 3: GLOBAL SURGICAL ROBOTICS MARKET, BY PRODUCT & SERVICE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 4: GLOBAL SURGICAL ROBOTICS MARKET, BY PRODUCT & SERVICE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 5: GLOBAL ROBOTIC SYSTEMS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 6: GLOBAL ROBOTIC SYSTEMS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 7: GLOBAL INSTRUMENTS & ACCESSORIES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 8: GLOBAL INSTRUMENTS & ACCESSORIES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 9: GLOBAL SERVICES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 10: GLOBAL SERVICES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 11: GLOBAL SURGICAL ROBOTICS MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 12: GLOBAL SURGICAL ROBOTICS MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 13: GLOBAL GYNECOLOGICAL SURGERY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 14: GLOBAL GYNECOLOGICAL SURGERY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 15: GLOBAL UROLOGICAL SURGERY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 16: GLOBAL UROLOGICAL SURGERY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 17: GLOBAL NEUROSURGERY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 18: GLOBAL NEUROSURGERY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 19: GLOBAL ORTHOPEDIC SURGERY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 20: GLOBAL ORTHOPEDIC SURGERY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 21: GLOBAL GENERAL SURGERY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 22: GLOBAL GENERAL SURGERY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 23: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 24: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 25: GLOBAL SURGICAL ROBOTICS MARKET, BY END-USER, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 26: GLOBAL SURGICAL ROBOTICS MARKET, BY END-USER, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 27: GLOBAL HOSPITALS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 28: GLOBAL HOSPITALS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 29: GLOBAL AMBULATORY SURGERY CENTERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 30: GLOBAL AMBULATORY SURGERY CENTERS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 31: GLOBAL SURGICAL ROBOTICS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 32: GLOBAL SURGICAL ROBOTICS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 33: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 34: NORTH AMERICA SURGICAL ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 35: KEY PLAYERS IN NORTH AMERICA SURGICAL ROBOTICS MARKET

TABLE 36: EUROPE SURGICAL ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 37: EUROPE SURGICAL ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 38: SURGICAL OPERATIONS PERFORMED IN TOP EUROPEAN COUNTRIES PER 1,00,000 PEOPLE

TABLE 39: KEY PLAYERS IN EUROPE SURGICAL ROBOTICS MARKET

TABLE 40: ASIA-PACIFIC SURGICAL ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 41: ASIA-PACIFIC SURGICAL ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 42: KEY PLAYERS IN ASIA-PACIFIC SURGICAL ROBOTICS MARKET

TABLE 43: REST OF THE WORLD SURGICAL ROBOTICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 44: REST OF THE WORLD SURGICAL ROBOTICS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 45: KEY PLAYERS IN REST OF THE WORLD SURGICAL ROBOTICS MARKET

TABLE 46: LIST OF MERGERS & ACQUISITIONS

TABLE 47: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL SURGICAL ROBOTICS MARKET, GROWTH POTENTIAL, BY PRODUCT & SERVICE, IN 2020

FIGURE 6: GLOBAL SURGICAL ROBOTICS MARKET, BY ROBOTIC SYSTEMS, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL SURGICAL ROBOTICS MARKET, BY INSTRUMENTS & ACCESSORIES, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL SURGICAL ROBOTICS MARKET, BY SERVICES, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL SURGICAL ROBOTICS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

FIGURE 10: GLOBAL SURGICAL ROBOTICS MARKET, BY GYNECOLOGICAL SURGERY, 2021-2028 (IN $ MILLION)

FIGURE 11: GLOBAL SURGICAL ROBOTICS MARKET, BY UROLOGICAL SURGERY, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL SURGICAL ROBOTICS MARKET, BY NEUROSURGERY, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL SURGICAL ROBOTICS MARKET, BY ORTHOPEDIC SURGERY, 2021-2028 (IN $ MILLION)

FIGURE 14: GLOBAL SURGICAL ROBOTICS MARKET, BY GENERAL SURGERY, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL SURGICAL ROBOTICS MARKET, BY OTHER APPLICATIONS, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL SURGICAL ROBOTICS MARKET, GROWTH POTENTIAL, BY END-USER, IN 2020

FIGURE 17: GLOBAL SURGICAL ROBOTICS MARKET, BY HOSPITALS, 2021-2028 (IN $ MILLION)

FIGURE 18: GLOBAL SURGICAL ROBOTICS MARKET, BY AMBULATORY SURGERY CENTERS, 2021-2028 (IN $ MILLION)

FIGURE 19: NORTH AMERICA SURGICAL ROBOTICS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 20: UNITED STATES SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 21: CANADA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 22: EUROPE SURGICAL ROBOTICS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 23: UNITED KINGDOM SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 24: GERMANY SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 25: FRANCE SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 26: ITALY SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 27: RUSSIA SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 28: BELGIUM SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 29: POLAND SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 30: REST OF EUROPE SURGICAL ROBOTICS MARKET 2021-2028 (IN $ MILLION)

FIGURE 31: ASIA-PACIFIC SURGICAL ROBOTICS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 32: CHINA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: JAPAN SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: INDIA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: SOUTH KOREA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: INDONESIA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: THAILAND SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: VIETNAM SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 39: AUSTRALIA & NEW ZEALAND SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 40: REST OF ASIA-PACIFIC SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 41: REST OF THE WORLD SURGICAL ROBOTICS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 42: LATIN AMERICA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 43: MIDDLE EAST & AFRICA SURGICAL ROBOTICS MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY PRODUCT & SERVICE
    • ROBOTIC SYSTEMS
    • INSTRUMENTS & ACCESSORIES
    • SERVICES
  2. MARKET BY APPLICATION
    • GYNECOLOGICAL SURGERY
    • UROLOGICAL SURGERY
    • NEUROSURGERY
    • ORTHOPEDIC SURGERY
    • GENERAL SURGERY
    • OTHER APPLICATIONS
  3. MARKET BY END-USER
    • HOSPITALS
    • AMBULATORY SURGERY CENTERS
  4. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •     EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • POLAND
        • REST OF EUROPE
    •     ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    •     REST OF THE WORLD
      • KEY DRIVERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

 

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