Surgical Robotics Market By Component (Systems, Accessories, Services), By Surgery Type (Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Surgeries): Global Opportunity Analysis and Industry Forecast, 2023-2032
The surgical robotics market was valued at $78.8 billion in 2022 and is estimated to reach $188.8 billion by 2032, exhibiting a CAGR of 9.1% from 2023 to 2032. Surgical robotics refers to the robotic systems that assist or perform surgical procedures. These systems are designed to enhance the capabilities of surgeons by providing precision, stability, and additional tools during surgeries. Surgical robotics has the potential to revolutionize the field of surgery by improving outcomes, reducing invasiveness, and enabling complex procedures that might otherwise be challenging for human surgeons. These systems are designed to work alongside human surgeons, enhancing their capabilities, and improving patient outcomes. Surgical robotics has gained significant attention and development over the years, with various applications in different surgical specialties.
The increase in need for automation in the healthcare sector and surge in demand for minimally invasive surgeries are the major factors that drive the surgical robotic market. In addition, rise in incidences of cancer, neurological disorders, gynecological diseases are anticipated to boost the adoption of robotic surgical systems. Surgical robotic systems offer less post-surgical complications and reduce labor cost. Large-scale hospitals based in developed and developing economies are now favoring automated surgical/hospital services due to this, which ultimately drives the market growth.
The surgical robotics market has experienced significant growth owing to the increase in demand for precision & minimally invasive surgical techniques. Surgical robots offer enhanced dexterity and accuracy, enabling surgeons to perform complex procedures through smaller incisions. This results in reduced trauma to the patient, less pain, quicker recovery times, and shorter hospital stays.
One of the primary driving factors for the surgical robotics market is the continuous advancement of technology. Robotic systems have evolved from basic telemanipulates to sophisticated platforms that offer enhanced dexterity, precision, and imaging capabilities. The integration of artificial intelligence (AI) and machine learning algorithms has further augmented the capabilities of surgical robots, enabling real-time data analysis and decision-making during procedures. These technological advancements have improved the accuracy of surgical interventions and expanded the scope of procedures that are performed robotically.
As surgical robots become more intelligent and capable, they enable surgeons to tackle increasingly complex and delicate surgeries with greater confidence and success rates, which supports the market growth. On the other hand, high cost associated with surgical robotics procedures and accidental death/injuries due to broken instruments and system errors are likely to hinder the market growth. However, the surge in R&D activities for developing innovative surgical robotic systems provides lucrative opportunity for market growth.
The surgical robotics market is segmented into component, surgery type, and region. By component, the market is segregated into systems, accessories, and services. By surgery type, the market is categorized into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).
Major key players that operate in the surgical robotics market are Smith & Nephew plc, Medtronic plc, Stryker Corporation, Intuitive Surgical, Inc., Zimmer Biomet Holding Inc., Renishaw plc, Midea Group Co., Ltd., Johnson & Johnson, Accuray Incorporated, and CMR Surgical Ltd. The key players have adopted product launch and product approval as key developmental strategies to improve the product portfolio of the surgical robotics market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surgical robotics market analysis from 2022 to 2032 to identify the prevailing surgical robotics market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the surgical robotics market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global surgical robotics market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ComponentSystems
Accessories
Services
By Surgery TypeGynecology Surgery
Urology Surgery
Neurosurgery
Orthopedic Surgery
General Surgery
Other Surgeries
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East And Africa
Key Market Players
Smith & Nephew plc
Intuitive Surgical, Inc.
Johnson & Johnson
Accuray Incorporated
Zimmer Biomet Holding, Inc.
Stryker Corporation.
Midea Group Co., Ltd.
CMR Surgical Ltd.
Medtronic plc
Renishaw plc
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