Market Overview:

The market for Surgical Robots was valued at approximately USD 3.92 Billion in 2024. Over the course of the forecast period (2024–2032), the market is expected to develop at a compound annual growth rate (CAGR) of 9.5%, reaching a value of USD 7.93 Billion by 2032.

The Global physician and surgeon shortage as well as the growing use of automated surgical tools are the main drivers propelling the market's expansion. Growth is also expected to be fueled by the increasing incidence of bone degenerative disorders and the number of hip and knee replacement procedures brought on by an increase in osteoporosis and arthritis cases. For example, a report from the Agency for Healthcare Research and Quality states that more than 4,50,000 hip replacement procedures are carried out in the United States each year.

One of the primary factors expected to propel the use of surgical robots in the healthcare sector is the rise in knee and hip replacement surgery. Osteoporosis, bone degenerative illnesses, and various forms of arthritis are among significant conditions affecting the joints. Patients in need of hip and knee replacement surgery have increased as a result of these disorders' rising prevalence.

The Regents of the University of California issued an article in 2019 predicting that by 2030, the total number of hip replacements and knee replacements performed in the United States would have increased by almost 200% and more than 600%, respectively, from 2005 to 2030. As a result, surgical robot use is increasing and the market is growing. The patients' functional result following surgery is still another important development driver. With more flexibility, control, and precision than with traditional surgeries, robotic surgery helps surgeons execute difficult treatments.

The aforementioned surgical techniques also provide advantages such as little discomfort and blood loss, a faster recovery period, a decreased risk of infection at the surgical site, and also tiny or barely perceptible scars, all of which contribute to the market's growth. As to research released by the Hip & Knee Society, patients who underwent a Mako total knee replacement, for example, paid USD 2400 less for their 90-day care than those who underwent a traditional knee replacement. The research additionally shown a 33% decrease in 90-day readmissions among patients undergoing Mako therapy.

Market Drivers:

Demand for Minimally Invasive Surgery (MIS)​

• The growing need for minimally invasive surgery (MIS) methods is driving the surgical robot’s market. Compared to traditional open surgery, minimally invasive surgical methods have a number of benefits, including as smaller incisions, less damage to the surrounding tissue, less discomfort following surgery, fewer stay in the market adoption and growth in the Surgical Robots Market. hospital, and quicker patient recovery. By allowing surgeons to execute intricate procedures with greater control, dexterity, and precision through tiny incisions, surgical robots significantly reduce tissue damage and boost patient outcomes. With the use of cutting-edge technology like tactile feedback, machine vision, and teleoperation, robotic-assisted surgical systems improve surgical capabilities and let surgeons do complex procedures more steadily and accurately than they could with traditional methods. In order to improve clinical outcomes and give patients less invasive treatment options, medical professionals in urology, Gynecology general surgery, & orthopedics are expected to require a significant increase in surgical robots. The number of MIS operations that can be completed robotically is also being increased by developments in robotic platforms, instrument design, and surgical techniques, which is propelling

Technological Advancements and Innovation​

• The constant innovation and technological breakthroughs in robotic surgery devices are driving the surgical robot’s market. The rapidly expanding field of surgical robots is being fueled by advancements in automation, artificially intelligent (AI), data mining (ML), imaging technology, & materials science.  The manufacturers are investing in research and development to improve robotic surgical systems' functionality, safety features, & performance. Therefore, next-generation platforms that offer better adaptability, ergonomics, and surgical outcomes of the highest caliber are being developed. The capabilities and accessibility of surgical robots are being expanded by technological advancements like dual-console structures, augmented reality representation, integrated imaging modalities, or real-time data analytics. This is allowing surgeons to perform a wider range of processes with increased efficiency and precision.  

Market Trends:

Expansion of Surgical Specialties and Procedures

• The growth of robotically assisted surgery into fresh surgical specializations and procedures is known as the "Surgical Robots Market." Although urology and gynaecological procedures were the primary applications for robotic surgery when it was first developed and implemented, a wider range of specialties, such as general surgery, the field of orthopedics cardiac surgery, as well as neurosurgery, are increasingly using surgical robots. An increasing number of challenging procedures such as head and neck surgery, lung surgery, and colon surgery are being performed using robotic platforms, as well as minimally invasive therapies for chronic illnesses like obesity and metabolic disorders. Furthermore, the range of operations that can be carried out robotically is growing because to developments in robotic technology, equipment design, and surgical techniques. The result is that surgeons to handle more challenging cases and enhance patient outcomes. The shift toward more robotically assisted surgery is anticipated to continue as surgeons gain proficiency and confidence using surgical robots in a variety of specialties and procedures. This will fuel market growth and the widespread use of robotic systems in the surgical robotics industry.

Integration of Artificial Intelligence (AI) and Digital Technologies

• The incorporation of digital technologies & artificial intelligence (AI) into robotic surgery systems is the surgical robot’s market. Robotic platforms are being enhanced with AI-powered algorithms & digital technologies to improve surgical preparation, navigation, & execution; this will also improve patient outcomes & operational efficiency. Artificial intelligence (AI) technologies are able to analyze clinical data, medical records, or preoperative imaging data in order to assist surgeons with customized treatment planning, optimize surgical workflows, or forecast surgical outcomes. Due to digital technology including telepresence and virtual reality simulation, & augmented reality visualization, surgeons may visualize anatomy in three dimensions, simulate surgeries, and collaborate in real time with remote experts. These instruments enhance surgical precision, instruction, and the capacity for remote consultation. Additionally, advancements in sensor technology, data analytics, and networking are making it possible to construct robotic systems and intelligent surgical tools that can collect and analyze surgical data in real time, provide surgeons with feedback, and encourage continuous improvement of surgical technique. 

Market Restraining Factors:

High Initial Investment and Cost of Ownership

• The high cost of ownership & initial investment involved in buying and operating robotic surgical equipment, which drives the surgical robot’s market. Sophisticated and technologically complex medical technologies, robotic surgery platforms demand a significant capital investment for purchase, installation, training, and upkeep. For many healthcare facilities, particularly smaller clinics, hospitals, and ambulatory surgery centers, the initial cost of obtaining a surgical robot, such as the robotic console, instrumentation, or accessories, can be unaffordable. The continuous costs associated with robotic surgical systems, like as software updates, servicing of equipment and disposable instrumentation, and staff training, are also included in the total cost of ownership (TCO). Over time, these additional costs may significantly increase the financial burden. A robotic surgery program's financial sustainability and return on investment (ROI) may be impacted by difficulties healthcare providers have getting payers to pay appropriately for robotically assisted surgeries. Hence, the high cost of ownership and acquisition could prevent healthcare facilities with tight budgets or other financial restraints from adopting the technology, that would limit the market's potential growth in the robotic surgeries market.

Segmentation Analysis:

The market is divided into segments based on By Component, By Application, By End User.

By End User

Based on the Product of the market is segmented into Inpatient, Outpatient.

In 2023, the segment with the highest revenue share 53.21 %was inpatient facilities. Hospitals and other inpatient facilities typically have the financial means as well as substantial patient volume to support the purchase of expensive surgical robotic equipment. They also have the trained staff and infrastructure needed to run and maintain this cutting-edge technology. Consolidating the dominant position of inpatient facilities in the industry, confidence and reliability associated with hospitals also play a crucial role in attracting patients and physicians toward robotic-assisted surgeries.

The outpatient market is anticipated to grow at the quickest rate between 2024 and 2030 in 9.7%. Surgical centers and ambulatory surgical centers are examples of outpatient clinics that prioritize speedier healing and shorter hospital stays, which is consistent with the benefits that surgical robots provide. Because outpatient procedures typically cause less disruption to everyday life and may result in cheaper treatment expenses, patients tend to favor them. Moreover, the integration of surgical robots into outpatient clinics is being made possible by increasing regulatory frameworks and reimbursement policies, which is driving their rise.

By Application

Based on the Application of the market is segmented into Orthopedics, Neurology, Urology, Gynecology, Others

The surgical robots used in cancer, laparoscopy, and various other general surgical procedures are included in the other applications sector, which held the greatest revenue share of 44.76% in 2023. The rising demand for minimally invasive laparoscopy operations and the growing use of robots in cancer treatment procedures are the main reasons for the large market share of this industry.

The neurology department is expected to increase at the fastest rate, 17.6%, between 2024 and 2030. Due to robots have advantages over traditional surgical methods, their rising use in neurosurgeries will aid in the market's rise. Neurosurgery is anticipated to be one of the most delicate and difficult surgical specialties due to the limited mobility associated with the narrow surgical regions of contemporary minimally invasive methods. Other factors that are anticipated to fuel this market's growth are the rising prevalence of neurological disorders and the demand for less invasive techniques for performing delicate brain surgery. For instance, when doing minimally invasive brain treatments, surgeons frequently utilize the ROSA ONE Brain robotic platform.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America had the highest share in 2023 with 49.9%, primarily as a consequence of advancements in healthcare facilities and surgery for a range of illnesses. The demand for robotically assisted surgeries is increasing due to better results than open procedures and shorter hospital stays and recuperation times for children. This is projected to drive market expansion. Additionally, if instruments become smaller, it may be possible to achieve ideal working conditions in a smaller space, which would spur market expansion.

Asia Pacific is expected to experience strong GDP growth over the coming years, primarily led by growth in India, China, Indonesia, Singapore, and Australia. Another important factor expected to drive market growth is a rise in government efforts to encourage hospitals as well as other hospitals to adopt modern medical devices & systems.

List of Companies Profiled:

• Intuitive Surgical
• Medrobotics Corporation
• Medtronic
• Renishaw plc
• Smith and Nephew
• Stryker Corporation
• THINK Surgical, Inc.
• Transenterix (Asensus Surgical, Inc.)
• Zimmer Biomet

Key Industry Developments:

• In August 2023, to improve patient engagement and education, Stryker initiated a direct patient marketing effort. The goal of the campaign is to enlighten patients about Stryker's cutting-edge medical solutions, with a particular emphasis on joint replacement surgeries, and to directly address patients. Stryker hopes to improve patient knowledge and awareness in order to enable people to make knowledgeable decisions about their care, which will enhance the patient's experience and results in the end.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Surgical Robots Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Surgical Robots market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Surgical Robots market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Surgical Robots market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Surgical Robots Market:

• Historic year: 2019-2023
• Base year: 2024
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Surgical Robots Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: