Surgical Robots Market, a $20.98 Billion Industry by 2030 with a CAGR of 16.84% - Strategic Market Research
The research experts at Strategic Market Research have asserted that the Market for Surgical Robots was worth USD 4.42 billion in 2020. It is predicted to sum up to a value of around USD 20.98 billion by 2030, with a CAGR of 16.84% throughout the forecasted time. Rise in minimally invasive surgeries, Complex surgical procedures and the growing technological enhancements in Procedure-specific Surgical Robotic System are driving the market growth.
New York, United States, May 27, 2022 (GLOBE NEWSWIRE) -- Surgical robots are regarded as the highly advanced technological robots that allows the surgeons to perform surgeries in the human body through small incisions. The surgical robots also allow the surgeons to perform different types of complex surgical operations with more flexibility, precision, and control as compared to the conventional techniques. In terms of End-User, the *Hospital* segment accounted for the *highest share of around 71.22% in 2020 *& in terms of region, *North America* led the market with a share of around *67.98%.* However, the Asia-Pacific region witnessed the fastest market growth rate, with a promising *CAGR of around 23.32%.**
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*The report broadcasted by Strategic Market Research on Surgical Robots Market is ramified based on:*
*Application*
· Orthopedics
· Neurology
· Urology
· Gynaecology
· General Surgery
· Others
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*End-User*
· Hospitals
· Ambulatory Surgical Centres
· Others
*Regions:*
*North America*
· USA
· Mexico
· Canada
· Rest of North America
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*Europe*
· Germany
· France
· Russia
· Switzerland
· U.K
· Finland
· Turkey
· Netherlands
· Belgium
· Spain
· Italy
· Rest of Europe
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*Asia Pacific*
· China
· India
· Indonesia
· Thailand
· Japan
· South Korea
· Singapore
· Malaysia
· Philippines
· Australia
· New Zealand
· Rest of APAC
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*LAMEA*
· Brazil
· Saudi Arabia
· Uruguay
· Argentina
· Rest of LAMEA
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*Report Coverage* *Details*
Forecast Period 2020-2030
Forecast Period 2021 to 2028 CAGR 16.84%
2030 Value Projection 20.98 billion
Base Year 2020
Market Size in 2020 USD 4.42 billion
Historical Data for 2015-2019
No. of Pages 135 Companies ntuitive Surgical, Stryker Corporation, Medtronic, Smith & Nephew, Zimmer Biomet, Asensus Surgical (Transenterix), Corindus Vascular Robotics, Renishaw, Auris Health, Medrobotics Corporation, Think Surgical, Verb Surgical (part of Johnson and Johnson), OMNIlife Science, CMR Surgical, Preceyes BV, China National Scientific Instruments and Materials Corporation, Microsure, Titan Medical, avateramedical GmbH, Medicaroid CorporationLeading Segment OthersLeading Region North America
Segments covered Based on Application, Based on End Users, and Region
Growth Drivers
Rise in minimally invasive surgeries
Complex surgical procedures, technological enhancements in Procedure-specific Surgical Robotic System.
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*Key factors expediting the Market Growth:*
· The demand for the minimally invasive (MI) surgical procedures is rising continuously due to the plethora of advantages associated with it, like reduced pain, smaller incisions, decreased scarring, increased safety, faster recovery periods, & considerable cost savings which in turn is proliferating the market growth extensively. *As per a research study, the average recovery time for a patient who undergoes minimally invasive spine surgery is 6 weeks, as compared to 12 weeks of undergoing traditional open spine surgery. *· Apart from the increase of MI surgical procedures, the robotic-assisted surgery registered a higher success rate that led to increased adoption of surgical robots. *NCBI, have announced that the robot-assisted surgeries showed excellent rates of success, ranging somewhere between (94 -100) %.* Hence, this higher success rate enables more end-users across the globe to adopt these surgical robots, thus fuelling the market growth.
*In terms of Applications**, the ‘General Surgery’ segment led the market comprehensively in 2020*.
By Applications, the market is segregated into *Orthopedics**, Neurology, Urology, Gynaecology, General Surgery, and Others*. The ‘*General Surgery’* segment held the highest market share of *approximately 29% in 2020. * The rise in usage of surgical robots for cancer treatments & the continuous increasing demand for minimally invasive laparoscopic surgeries, are fuelling the overall growth of the market. *As per a NCBI study, it was discovered that nearly 60% of the lapa**roscopic surgeries worldwide were** performed using robots, which is expected to increase abruptly in due course of time.*
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*In terms of End-User, the Hospital segment dominated the market in all respects**.*
For End-User the market has been classified into *Hospitals, Ambulatory Surgical Centres, and Others. *The '* Hospital* ' segment held the maximum proportion of market share *at around 71.22 %.* The increasing number of inpatient visits & the rise in the total number of surgical procedures are enhancing the growth of this segment. *An NCBI study was conducted where it was found that, on an average 23 out of 73 hospitals perform robotic-assisted surgery, which is expected to rise in the upcoming years.*
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*North America continued to be the leader in Surgical Robots Market:-*
On a regional basis, in 2020, North America continued to dominate the market with a share of around *67.98 %.* The growing number of injuries & diseases along with the increasing availability of surgical robots, is driving the market growth of this region. *As per the American Association for the Surgery of Trauma, in the USA, injury *
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*accounts for more than 150k deaths & over 3 million non-fatal injuries each year. *
The Asia-Pacific was regarded as the fastest-growing region with a CAGR of 16.84% throughout the forecasted period. The rapid development of technologies in surgical robotics & the increasing patient population in the developing markets like China, and India are fostering the growth of this region. *Intuitive Surgical** Inc.** have announced that, currently there are around 170 da Vinci surgical robots in China which have conducted more than 170k surgeries till date.*
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*The pertinent players prevailing in the Surgical Robots Market are as follows:*
· Intuitive Surgical
· Stryker Corporation
· Medtronic
· Smith & Nephew
· Zimmer Biomet
· Corindus Vascular Robotics
· Renishaw
· Auris Health
· Medrobotics Corporation
· Think Surgical
· Verb Surgical (part of Johnson and Johnson)
· OMNIlife Science
· CMR Surgical
· Preceyes BV
· China National Scientific Instruments and Materials Corporation
· Microsure
· Titan Medical
· avateramedical GmbH
· Medicaroid Corporation
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*Recent Developments:*
· On May 10th 2022, Zimmer Biomet successfully launched its Omni Suite Robot which is especially designed for the optimization of surgical workflow. It also enhances the procedural efficiency by automating manual tasks & eradicating the redundant hardware. This surgical robot possesses a new AI feature that uses cameras to automatically recognize the workflow milestones, including door count, patient entry & exit, the start & stop timings of anaesthesia dosage, etc. · On Feb 21st 2022, Smith & Nephew launched its next-generation Robotics system in Japan known as the CORI Surgical system. This system was launched for the improvement in performance outcomes of knee arthroplasty. The rise in usage of CORI Surgical system expedited the CAGR value of the orthopaedic market for robotic-assisted surgery in Japan to nearly 37.3% throughout the time frame of 2020-2030.
· On Jan 5th 2021, Stryker Corporation announced its successful acquisition of OrthoSensor, Inc. This acquisition would allow Stryker to implement its highly advanced Verasense intraoperative sensor technology for the empowerment of its Mako surgical robots that would allow the surgeons in accessing more comprehensive data-driven solutions.
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*Collaborative Robots Market *
SMR’s ‘Collaborative Robots Market Report Insights & Forecast 2030’ delineates a 360-degree outline of the various marketing insights like its restraints, key drivers, opportunities, etc. In 2020, the Global Collaborative Robots Market share was USD 609 Million. It is expected to foster up to USD 1671 Million by 2028, along with a CAGR of 15.2 % throughout the estimated time period.* *The paucity of physicians & surgeons worldwide & the rise in adoption of the automated instruments used for surgical operations are driving the overall market growth rapidly. The essential players that are involved with the market are Techman Robot, YASKAWA, KUKA, ABB, FANUC, Universal Robots, Rethink Robotics, Doosan Robotics, F&P Robotics, etc.
*Orthopedic** Surgical Robots** Market*
SMR’s ‘Orthopedic Surgical Robots Report Insights & Forecast 2030’ delivers an exceptional outlook of the crucial market insights like driving factors, restraints, opportunities, etc. The Global Orthopedic Surgical Robots Market is likely to expedite at a CAGR of 20.75 % along with an overall market share of USD 994.31million in 2020. By 2028, it’s forecasted to reach a substantial landmark of USD 4489million. The rise in cases of orthopedic alignments like hip and knee fracture, ligament rupture, along with the increase in the awareness among people regarding obtrusive orthopedic methods are propelling the market’s growth extensively. The pivotal organizations that are prevailing in the market are Accuray Incorporated, Globus Medical, Auris Health Inc., Smith &Nephew, Johnson & Johnson Services Inc., Medtronic, Nordson Corporation, etc.
*Laparoscopy Devices Market*
SMR’s ‘Laparoscopy Devices Market Report Insights & Forecast 2030’ deciphers a well-defined concept about the essential market insights like drivers, restraints, opportunities, etc. In 2020, the revenue value of Global Laparoscopy Devices Market was around USD 10.3 billion and it’s predicted to reach up to USD 21.83 billion by 2030, with a burgeoning CAGR of 7.8 %. The essential factors that are responsible for the proliferation of the market growth are the rise in prevalence of chronic illnesses &the growing awareness of minimally invasive operations among the patients. The significant players that are associated with this market are B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic Plc, etc.
*Robotic Endoscopy Devices Market *
SMR’s ‘Robotic Endoscopy Devices Market Report Insights & Forecast 2030’ describes a clear idea on the market insights such as drivers, restraints, opportunities, etc. In 2020, the overall Global Robotic Endoscopy Devices Market share was USD 1.40 billion and it is likely to reach around USD 5.49 billion by 2030, with a CAGR of 14.65%. The key factors accelerating the market growth are the rising prevalence of chronic diseases, and a higher rate of adoption of robotic endoscopy devices. Also, the essential players that are associated with this market are FUJIFILM Holdings America Corporation, Medineering GmbH, EndoMaster Pte Ltd, Boston Scientific Corporation, Richard Wolf GmbH, HOYA Corporation, etc.
*Minimally Invasive Surgical Instruments Market*
SMR’s ‘Minimally Invasive Surgical Instruments Market Insights & Forecast Report 2030’ highlights a crucial idea regarding the various market insights like drivers, opportunities, restraints, etc. In 2020, the share of Global Minimally Invasive Surgical Instruments Market was nearly USD 20.878 billion. It is predicted to reach around a value of USD 41.767 billion by 2030, with a CAGR of 7.21 %. Some of the notable factors fostering the market growth forward are the continuous increase in the number of minimally invasive surgeries worldwide, the increasing geriatric population, a steep rise in the number of surgical procedures & several diseases like gastroesophageal reflux disease, Hiatal hernia, etc. Also, the crucial organizations that are associated with the market are CONMED Corporation, Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Becton, Dickinson and Company, The Cooper Companies Inc, HOYA Corporation, Surgical Innovations Group plc, Koninklijke Philips N.V., Fujifilm Holdings Corporation, etc.
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