Surgical Robots Market - By Component (Robot Systems, Instruments & Accessories), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Centers) & Forecast, 20

Surgical Robots Market - By Component (Robot Systems, Instruments & Accessories), By Application (Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery), By End-user (Hospitals, Ambulatory Surgical Centers) & Forecast, 2023 - 2032

Surgical Robots Market will grow notably during 2023-2032 owing to the rising adoption of surgical robots in the healthcare sector. With the technology gradually evolving, the demand for surgical robots is slated to grow tremendously. Increasing robotic surgeries opted by healthcare professionals as well as by patients, regardless of any fear, will positively influence the market growth. As per credible reports, more than 870,000 robotic surgeries were performed in 2020 in the United States.

Overall, the surgical robot industry is segmented in terms of component, application, end-use and region.

Based on components, the robot systems segment is likely to account for considerable gains through 2032. The substantial revenue share can be credited to the rising demand for minimally invasive surgical procedures. These systems hold the capability of performing critical procedures with utmost precision. High accuracy, low risk of postoperative complications, low errors, and lesser recovery time are some of the key benefits slated to increase the adoption of this technology in the coming years.

By application, the urologic surgery segment will grow at more than USD 4.5 billion in 2032. Significantly rising demand for robotic urologic surgeries, especially in regions such as Europe and Asia Pacific, will help the segment to grow. The increasing number of patients suffering from urological disorders will fuel the product adoption rate.

Considering the end-use, the hospitals segment is anticipated to demonstrate robust growth during 2023-2032. The increasing number of surgical procedures, along with a large number of inpatient visits, will serve as a key factor driving the market growth. Besides, the availability of skilled personnel and state-of-the-art hospital infrastructure in a hospital setting will push the business expansion.

Geographically, the Europe surgical robot industry was valued at over USD 1.2 billion in 2022. The region is estimated to record healthy growth owing to the budding number of surgical procedures coupled with the increasing adoption of robotically assisted surgeries in the region. The European Association of Urology and other organizations have launched several activities contributing to the market growth. Additionally, a rise in surgical treatments such as hernia operations, complete knee replacements, hip replacements, and cataract operations is expected to fuel market expansion in Europe.