Surgical Robots Market by Product & Service (Instruments, Robotic Systems, Services), Application ( General Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End User (Hospitals, Ambulatory Surgery Center) - Global Forecasts to 2027

Surgical Robots Market by Product & Service (Instruments, Robotic Systems, Services), Application ( General Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End User (Hospitals, Ambulatory Surgery Center) - Global Forecasts to 2027

The global surgical robots market is projected to reach USD 18.4 billion by 2027 from an estimated USD 8.5 billion in 2022, at a CAGR of 16.6% during the forecast period. The advantages of robotic-assisted surgery, technological advancements in surgical robots, the increasing adoption of surgical robots, improving reimbursement scenario, and the increase in funding for medical robot research are expected to drive the growth of surgical robots during the forecast period. On the other hand, the high cost of robotic systems is expected to restrain the growth of this market.

Based on product & service, the robotic systems is expected to register the highest growth during the forecast period.

By product & service, the surgical robots market has been segmented into robotic systems, instruments & accessories, and services. The robotic systems segment is expected to register the highest growth during the forecast period. Factors such as the growing focus on adopting technologically advanced surgical robots and instruments among end users is propelling the growth of this segment.

Based on robotic systems, the orthopedic robotic system segment accounted for the second largest share of the market in 2021

By robotic systems, the surgical robots market has been segmented into laparoscopy robotic systems, orthopedic robotic systems, neurosurgical robotic systems, and other systems. In 2021, the orthopedic robotic system segment accounted for the second largest share of the surgical robots market. Increasing prevalence of obesity leading to rising demand for robotic orthopedic surgeries among hospitals and surgeons are supporting the growth of orthopedic robotic systems.

Based on application, the urological surgery segment accounted for the second largest share of the market in 2021

By application, the surgical robots market has been segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and other applications. In 2021, the urological surgery segment accounted for the second largest share of the surgical robots market. Increasing number of robotic urological surgeries are performed to treat conditions such as prostate cancer surgery, kidney disease/cancer surgery, bladder cancer surgery, and urinary obstruction surgery, and other urological applications is expected to increase the demand for surgical robots.

Based on end user, the hospitals & clinics segment is expected to register the highest growth during the forecast period.

Based on end users, the market has been segmented into hospitals & clinics and ambulatory surgery centers. The hospitals & clinics segment is expected to register the highest growth during the forecast period. The increasing number of robotic assisted surgical procedures taking place in hospitals & clinics is expected to increase the adoption of surgical robots.

Europe accounted for the second largest share of the surgical robots market in 2021

In 2021, Europe accounted for the second largest share of the surgical robots market. The region's large share can be attributed to the growing prevalence of chronic diseases such as cancer, and urologic disorders, the rising adoption of surgical robots, and the growing volume of robot assisted surgeries performed.

Break-up of primary participants was as mentioned below:

By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%

By Designation – C-level–35%, Director-level–25%, Others–40%

By Region – North America–40%, Europe–30%, Asia Pacific–20%, Latin America- 5%, Middle East and Africa–5%

Key players in the Surgical Robots market

The key players operating in the surgical robots market include Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (US), Siemens Healthineers (Germany), Intuitive Surgical (US), Stryker Corporation (US), Medtronic Plc (Ireland), CMR Surgical (UK), Johnson & Johnson (US), Renishaw Plc. (UK), Avateramedical GmbH (Germany), Brainlab AG (Germany), Think Surgical (US), Medicaroid Corporation (Japan), Globus Medical, Inc. (US), Corin (UK), Ecential Robotics (France), Titan Medical, Inc. (Canada), TINAVI Medical (China), Monteris Medical (US), Momentis Innovative Surgery Ltd. (Israel), SS Innovations (India), Distalmotion (Switzerland), Preceyes BV (Netherlands) and Microsure (Netherlands).

Research Coverage:

The report analyzes the surgical robots market and aims to estimate the market size and future growth potential of this market based on various segments such as product & service, application, end user, and region. The report also includes a product portfolio matrix of various surgical robots available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, service offerings, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global surgical robots market. The report analyzes this market by product & service, application, and end user.

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global surgical robots market

Market Development: Comprehensive information on the lucrative emerging markets by product & service, application, and end user

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global surgical robots market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global surgical robots market.