Surgical Robots Market - Global Drivers & Opportunities

The Growth in surgical robots market is primarily driven by the advantages of robotic-assisted surgery, technological advancements in surgical robots, the increasing adoption of surgical robots, and increased funding for medical robot research. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.

The global surgical robots market size was valued at USD 6.4 billion in 2021 and is expected to grow at CAGR of 17.6% from 2021 to 2026.

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Scope of the Report

By Product and Service

Instruments and Accessories
Robotic Systems
Services

By Application

General Surgery
Gynecological Surgery
Urological Surgery
Neurosurgery
Orthopedic Surgery
Other Applications

By End User

Hospitals
Ambulatory Surgery Centers

By Region

North America

US
Canada

Europe

Germany
UK
France
Italy
Spain
Rest of Europe (RoE)

Asia Pacific

Japan
China
India
Rest of APAC (RoAPAC)

Market Segmentation: -

Based on product service, the surgical robots market is segmented into robotic systems, instruments accessories, and services. The instruments accessories segment commanded the largest share of 53.8% of the market in 2020. This segment is also expected to grow at the highest CAGR of 18.2% during the forecast period. The large share and high growth rate of this segment are mainly driven by the recurrent purchase of instruments accessories instead of robotic systems, which are a one-time investment.

Based on application, the surgical robots market is segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and other applications. The general surgery segment commanded the largest share of 29.5% of the market in 2020. This segment is also projected to register the highest CAGR of 18.2% during the forecast period. Growth in this market segment can be attributed to the increased use of surgical robots in general procedures such as bariatric surgery, Heller myotomy, gastrectomy, hernia repair, cholecystectomy, transoral surgery, and pancreatectomy.

Regional Analysis:

North America dominated the surgical robots market, with a share of 63.6% in 2019, while the Asia Pacific region is expected to register the highest CAGR of 18.5% during the forecast period. The large share of the North American market can be attributed to the availability of funding for RD in surgical robots in this region and the increasing adoption of surgical robots for pediatric surgeries in Canada and general surgery procedures in the US.

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Top Key Players:

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).