Surgical Robots Market to Hit 14.8% CAGR, Globally Driven by Increase in Surgical Procedures During 2022–2028 | The Insight Partners

The global surgical robots market size to reach USD 17.64 billion by 2028.

Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Surgical Robots are robotic systems operated by surgeons consisting of miniaturized surgical instruments mounted on robotic arms. These are controlled by the surgeons on a computer console that offers HD and a magnified 3-D view of the surgical site. Surgical robots help in performing discrete complicated surgical procedures with more flexibility, exactness, and control than normal surgical procedures.

According to our new research study on “Surgical Robots Market Forecast to 2030 – Geography Analysis – by Component, Application, End User, and Geography,” the surgical robots market size is valued at $6.83 billion in 2021 and is projected to reach $17.64 billion by 2028; it estimated to grow at a CAGR of 14.8% during 2022–2028. The report highlights opportunities and trends prevailing in the market and factors driving and hindering the surgical robots market growth. Key driving factors such as the surging number of surgical procedures and new product launches and approvals define market growth. However, the high cost of procedures and installation will likely hinder the market's growth during the forecast period. 

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Development and Launch of Innovative Products Would Lead to Future Trends in the Global Surgical Robots Market:
The Surgical Robots market players are focused on launching new products to grow their geographic reach and improve capacities to satisfy greater than existing customer base. For instance, on December 4, 2020, Sysmex Corporation launched the hinotori Surgical Robots System, a Surgical Robots unit, and the HF Series Instrument, a reusable active endotherapy device for medical institutions in Japan. Likewise, in June 2023, CMR Surgical launched the next-generation surgical robotic system, Versius, in Belgium. Sint-Franciscus Hospital, a regional public hospital in Heusden-Zolder, is the first Belgian hospital to install Versius, which is being used as part of a multi-specialty program to ensure more patients can access minimally invasive surgery.

Versius is the only small & modular surgical robotic system that can be adopted quickly by surgeons and hospitals. Its advantages are that they can fit virtually in any operating room, enabling a more comprehensive range of hospitals to start a robotics program. Its ease and flexibility, provided by its modularity, put the ports where surgeons want. It is also used to put them, making it an ideal system to perform a versatile range of cases and integrate into existing workflows. Similarly, in February 2023, Global Hospital launched the Da Vinci Xi system in India. Hospitals have launched this device to be used in various surgical fields such as urology, oncology, gynecology, liver transplantation, thoracic, cardiology, pediatric, and gastrointestinal surgery to enhance patient outcomes and quality of life.

Recently, in 2021, SS Innovations, a Gurgaon-based company, which is promoted by Dr. Sudir P Srivastava—the renowned Robotic cardiothoracic surgeon, will commercially launch India’s first and world’s cheapest general Robotic surgery system within the next 4-6 months. The company plans to manufacture 100 multi-arm novel ‘Mantra’ Surgical Robotic System units in 2021. Moreover, as per the study by CRM Surgical, it has been stated that between 6,000-6,500 robotic surgical systems have been installed globally in the last two decades. This is anticipated to surge near future owing to the growing development & innovations in the medical device industry. This will contribute to the growth of the Surgical Robots market over the forecast period.

Global Surgical Robots Market: Competitive Landscape and Key Developments
Intuitive Surgical, Inc.; Medtronic; THINK Surgical, Inc.; Smith & Nephew; Johnson & Johnson Services, Inc.; Stryker; Siemens Healthcare GmbH; Asensus Surgical US, Inc.; Zimmer Biomet; Renishaw plc. are among the leading companies functioning in the surgical robots market. These players focus on intensifying and expanding their market presence and acquiring a novel customer base, thereby tapping business opportunities prevailing in the surgical robots market. Market players are launching new products to the market. Below are a few instances:

In June 2022, Stryker will open the Advanced Global Technology Center in India.

In February 2022, Smith+Nephew, the global medical technology business, announced the commercial launch of its next-generation handheld Robotics platform, the CORI Surgical System, in Japan.

In November 2021, Smith+Nephew announced the launch of CORI handheld Robotics, an advanced system for total and partial knee arthroplasties.

In August 2022, THINK Surgical, Inc., an innovator in orthopedic surgical Robots, announced that it has entered into a development and distribution agreement with Curexo, Inc., a South Korean medical Robotics company. THINK and Curexo have a strong working relationship due to collaboration. Curexo distributes THINK's TSolution One platform in Vietnam and Korea. 

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Global Surgical Robots Market: Segmental Overview
The surgical robots market is divided into component, application, end-user, and geography. Based on application, the surgical robots market is classified into general surgery, gynecology, urology, orthopedics, interventional cardiology, and neurology. The urological segment acquired the highest market value in 2022. However, gynecological surgery is expected to grow at the highest CAGR from 2022 to 2030. The applications of robotics in gynecology include hysterectomy, myomectomy, oophorectomy, ovarian cystectomy, sacrocolpopexy, resection of endometriosis, and others with an increasing role of robotic surgery in gynecological oncology. For instance, Hysterectomy being the most common gynecological surgery, selecting the most appropriate route is paramount. As for any other surgery, it is not without complications. With the advancement in the conservative approaches, these organ-preserving options are explored rigorously before opting for Hysterectomy.

Based on the end-user, the surgical robot market is segmented into hospitals, ambulatory surgical centers, and others. The hospital segment is expected to have the largest market share in 2022, owing to growing healthcare expenditures in various economies. However, increasing robotic surgical system installations in ambulatory surgical centers is estimated to grow at the highest CAGR. Equipment and accessories of the robotic systems are changed for each surgery. Subsequently, the surgical robotics market has attracted considerable attention from the end-users, and several new players have emerged in the market space.

Go through further research published by The Insight Partners:

Micro-Surgical Robot Market - Global Analysis and Forecast to 2028

Neurosurgical Robotics Market - Global Analysis and Forecast to 2028

Intelligent Surgical Robot Market - Global Analysis and Forecast to 2030

Robot-Assisted Surgical Systems Market - Global Analysis and Forecast to 2030

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