The global surgical robots market was valued at USD 5.6 billion in 2021 and it is anticipated to grow up to USD 15.2 billion by 2031, at a CAGR of 10.1% during the forecast period.
Surgical robots are essential to hospitals and ambulatory surgical centers as it helps doctors or healthcare professionals to perform complex procedures with more precision as compared with conventional or traditional techniques.
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Market Trends and Drivers
Advantages of robotic-assisted surgery will fuels the market growth. Globally, the demand for minimally invasive surgeries (MIS) is on the rise mainly due to the advantages associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, faster recovery periods, and considerable cost savings. Robotic minimally invasive surgery adds to these advantages by ensuring greater accuracy, repeatability, control, and efficiency Furthermore, by 2030, non-communicable diseases (NCDs) are projected to account for more than one-half of the disease burden in low-income countries and more than three-fourths in middle-income countries. In the geriatric population, NCDs account for more than 87% of the burden in low, middle, and high-income countries. The high prevalence of chronic diseases, especially among the geriatric population, will considerably boost the number of surgical treatment procedures conducted and thus drive the demand and use of surgical sutures.
Market Restraints and Challenges
High cost of robotic systems may restraint the market growth. Robot-assisted surgeries are more expensive than minimally invasive surgeries. The American Congress of Obstetricians and Gynecologists recommends robotic hysterectomy only for unusual and complex clinical conditions. The association states that the adoption of robotic surgery for all hysterectomies would add an estimated USD 960 million to the annual cost of hysterectomy surgeries in the US. The da Vinci system, one of the most commonly used robotic systems, costs between USD 1.5 million and USD 2.5 million, while the CyberKnife robotic system costs around USD 4 million per unit.In addition, the annual maintenance cost of a robot is close to USD 125,000, which further adds to the already high cost of robotic surgery. The average robotic surgical procedure generally costs anywhere between USD 3,000–USD 6,000. The rising cost of surgeries due to the use of robotic systems is thus expected to restrain the growth of the medical robots market.
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Global Surgical Robots Market Segmentation
Component
- Robot Systems
- Instruments and Accessories
Application
- Orthopedic Surgery
- Neurosurgery
- General Surgery
- Gynecology Surgery
Major Players in the Global Surgical Robots Market
The key players in the market are Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw (UK), Auris Health (US), and Microsure (Netherlands) among others.
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Reasons to buy Surgical Robots Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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