Surgical robots enable surgeons to carry out complex surgical procedures with greater precision. They are primarily used in gynecological, urological, orthopedic, general, neurosurgeries, and other minimally invasive surgeries. Growth in this market is primarily driven by the advantages of robotic-assisted surgery, technological advancements in surgical robots, the increasing adoption of surgical robots, and the increase in funding for medical robot research. On the other hand, the high cost of robotic systems is a key factor limiting market growth in the coming years.
The global Surgical robots market is projected to reach USD 14.4 billion by 2026 from USD 6.4 billion in 2021, at a CAGR of 17.6% during the forecast period.
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Some of the prominent players operating in the Surgical robots market are Intuitive Surgical (US), Stryker Corporation (US), Medtronic (Ireland), Smith Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw (UK), Auris Health (US), Medrobotics Corporation (US), Think Surgical (US), Verb Surgical (US), OMNIlife Science (US), CMR Surgical (US), Preceyes BV (Netherlands), China National Scientific Instruments And Materials Corporation (CSIMC) (China), Microsure (Netherlands), Titan Medical (Canada), avateramedical Gmbh (Germany) and Medicaroid Corporation (Japan).
Top Surgical Robots Market Player
Intuitive Surgical was the largest player in the surgical robots market. Being a pioneer in surgical robots, Intuitive Surgical successfully established a brand of its own. The FDA approvals of the company’s key products, such as the da Vinci X Surgical System and the launch of its Single-port Platform in 2018, have further augmented the company’s position in the surgical robots market. Continuous advancements in its robotic systems have also helped the firm maintain a strong leading position. More than 8.5 million minimally invasive procedures have been performed worldwide through 2020 using the da Vinci surgical system.
Stryker Corporation was the second-leading player in the surgical robots market. Stryker is also the leader in the orthopedic robotic systems market. The acquisition of Mako Surgical Corporation in 2013 enabled the company to enter the surgical robots market. The company’s surgical robots portfolio was further strengthened by introducing the Mako Total Hip and Mako Partial Knee. In 2017, Stryker received FDA clearance to use the Mako robotic surgery system for total hip replacement applications, which further helped strengthen its market position. Stryker also has a significant installation base of its systems across the world. As of October 2020, 860 robots were installed, of which 700 were placed in the US. The company reported strong growth in 2019, as the units sold increased by 28%, from 165 units in 2018 to 212 units sold in 2019. Also, the number of procedures conducted by Mako robots increased to more than 120,000 in 2020.
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Medtronic was the third-largest player in the surgical robots market. The acquisition of Mazor Robotics in December 2018 enabled the firm to enter the medical robots market. In 2019, Medtronic’s surgical robots portfolio was further strengthened by the commercial launch of the Mazor X Stealth Edition for robotic-assisted spine surgeries in the US. Medtronic also unveiled its new robot-assisted surgery platform, the Hugo RAS system, which is expected to give Intuitive Surgical’s market-dominating da Vinci robot tough competition. Hugo RAS has a pedestal-based modular system, with components upgraded individually and a surgeon console open to the operating room.
