Surgical Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Surgical Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global surgical robots market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.3 Billion by 2028, exhibiting a growth rate (CAGR) of 18.2% during 2023-2028.

Surgical robots refer to computer-controlled machines that are used for performing minimally invasive (MI) and laparoscopic surgeries. These robots consist of a magnifying high-definition 3-D camera fitted at the tip of the robotic arm that provides an accurate representation of the body parts. They replicate the hand movements of the surgeons and can perform complex procedures using miniaturized surgical instruments that can fit through small incisions. In comparison to traditional surgeries, these robots offer faster recovery time, minimal post-operative discomfort, and reduced risks of infection and scars.

Surgical Robots Market Growth Drivers:
The increasing prevalence of neurological disorders across the globe is one of the key factors driving the growth of the market. In line with this, the rising geriatric population, which is more susceptible to medical ailments, is also contributing to the market growth. Furthermore, the extensive utilization of these robots for performing surgeries, along with the increasing preference for MI procedures by both patients and healthcare providers, is providing a boost to the market growth significantly. For instance, neurosurgical robots are being used for precise positioning of needles in deep intracranial lesions and for retracting delicate neural structures.

Various technological advancements and the integration of the healthcare industry with Artificial Intelligence (AI), Internet of Things (IoT) and virtual and augmented reality (VR/AR) are acting as other growth-inducing factors. Surgical robots are being equipped with 3D imaging systems, HD microscopic cameras, data recorders, motion sensors and robotic controlled catheters that assist surgeons in performing complex procedures accurately. Other factors, including increasing funding and investments for research and development (R&D) in the field of robotics and medical sciences, along with improving healthcare infrastructure across the globe, are also projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global surgical robots market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, application and end-user.

Breakup by Product:

Robotic Systems
Instruments and Accessories
Services

Breakup by Application:

Gynecological Surgery
Urological Surgery
Neurosurgery
Orthopedic Surgery
Other Applications

Breakup by End-User:

Hospitals
Ambulatory Surgical Centers
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The global surgical robots market is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the major players in the market are:

Accuray Incorporated
Auris Health Inc.
CMR Surgical
Corindus Vascular Robotics
Intuitive Surgical
Maxar Technologies Limited
Mazor Robotics Ltd.
Medrobotics Corporation
Medtronic
Renishaw
Smith & Nephew
SRI International Inc.
Stryker Corporation
Think Surgical
Transenterix Inc.
Verb Surgical
Zimmer Biomet

Key Questions Answered in This Report
1. How big is the global surgical robots market?
2. What is the expected growth rate of the global surgical robots market during 2023-2028?
3. What are the key factors driving the global surgical robots market?
4. What has been the impact of COVID-19 on the global surgical robots market?
5. What is the breakup of the global surgical robots market based on the product?
6. What is the breakup of the global surgical robots market based on the application?
7. What is the breakup of the global surgical robots market based on the end-user?
8. What are the key regions in the global surgical robots market?
9. Who are the key players/companies in the global surgical robots market?