Global Surgical Robot Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)

The report titled “Global Surgical Robot Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)”, provides an in-depth analysis of the global surgical robot market by value, by surgery type, by end-users, by component, by region, by number of robots, etc. The report provides a regional analysis of the surgical robot market, including the following regions: North America (The US and Rest of North America), Europe, Asia Pacific (China and Rest of Asia Pacific), and Rest of World. The report also provides a detailed analysis of the COVID-19 impact on the global surgical robot market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall surgical robot market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.

The global surgical robot market is fragmented. The key players of the global surgical robot market are Smith & Nephew, plc., Intuitive Surgical, Inc., Stryker Corp., and CMR Surgical Ltd. are also profiled with their financial information and respective business strategies.

Company Coverage

Smith & Nephew, plc.
Intuitive Surgical, Inc.
Stryker Corp.
CMR Surgical Ltd.

Regional Coverage

North America
Europe
Asia Pacific
Rest of the World

Executive Summary

Surgical robots are sophisticated precision medical devices that are developed based on the advances in minimally invasive surgery (MIS) and relevant foundation technologies. Surgical robots can handle surgery precisely and focus on small surgical areas. For instance, the robotic arms mimic the motion of human arms by offering surgeons a range of motion comparable to that of a human wrist and eliminating the inherent tremors in human hands. As compared with open surgery and traditional MIS, robot-assisted surgeries can overcome a number of limitations.

The global surgical robot market can be segmented based on surgery type (Laparoscopic Robot, Orthopedic Robot, Percutaneous Robot, Natural Orifice Robot, Panvascular Robot, and Other Surgical Robot); end-users (Hospitals and Ambulatory Surgery Centers); and component (System, Disposables, and Services). Orthopedic surgical robot is further segmented into Joint Replacement Robot and Other Orthopedic Robots.

The surgical robot market was first hampered by the drop in procedures due to the pandemic. The rise in elective procedures in the second half of 2020 has resulted in a resurgence in surgical robot revenue around the world. The advantages of robot-assisted operations would boost the global surgical robot market forward in the coming years.

The global surgical robot market has increased during the years 2017-2021. The projections are made that the market would rise in the next four years i.e. 2022-2026 tremendously. The global surgical robot market is expected to increase due to the aging population, increasing health spending, increasing incidence of cancer, favorable government policies and support, etc. Yet the market faces some challenges such as the high cost of robotic systems, rise in death toll and injuries due to robotic surgeries, etc. Moreover, the market growth would succeed by various market trends like growth of AI and other technologies, innovations in robotic surgery, increasing penetration of surgical robots in ASCs, 5G to revolutionize robotic-assisted surgery, etc.