Surgical Robots Market to Surpass US$25 Billion by 2031; Rapid adoption of medical robotic systems in minimally invasive surgeries to propel revenue growth: TMR study

  • Continued technological advancements in robotic surgery devices to drive hospital investment in robotic systems; increasing use in less invasive gynecological surgeries to propel product penetration in surgical robot market
  • Asia Pacific witness a remarkable growth of lucrative opportunities; increase in robotic surgeries in orthopedic, neurological and urological disorders to ensure stable sales

ALBANY, NY, June 9, 2022 /PRNewswire/ — Robotics companies in the surgical robot market seize value-added opportunities in robot-assisted surgeries by constantly aiming for technological advances in medical robotics. Sales of surgical robot market products are thriving on the need for improved control, more flexibility for surgeons, and precision in surgical maneuvers. The authors of a TMR study on the surgical robot market find that the valuation will grow at a CAGR of 14.5% during the forecast period 2022-2031.

Advances in various instruments relate to the use of high performance motors, new materials, emergency power supply and enrich the movement and positioning capabilities of surgical roots. Recent developments in the surgical robot market highlight that the trend towards integration with modern imaging technology has spurred the adoption of products with high stability and precision. Technological advances in robotic arms are a good example.

The increasing adoption of surgical robots in various surgical specialties and sub-specialties has boosted the sales of the surgical robots market. They found a significant improvement in surgical outcomes in orthopaedics, neurology and urology. New technologies in robotic surgery catalyze the prospects of robot-assisted instrumentation, especially in complex surgical tasks.

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Key Findings from the Surgical Robots Market Research

  • The benefits drive the adoption of robotic surgeries: Future market demand for surgical robots is likely to be massively shaped by the clear benefits that robot-assisted surgical devices have demonstrated to clinicians and patients. Key benefits include reduced radiation exposure, low early postoperative complications, and low risk of adverse events. The surgical robot market will thus benefit from the increasing commercialization of robotics in oncology, urology and gynecology/oncology surgery. Hospitals are expected to increasingly deploy surgical robots to address the challenges faced by surgeons operating on complex anatomy, such as in spine surgeries.
  • Technological advances in medical robotics, particularly robotic systems, underlie enormous possibilities: The value chain of players in the surgical robot market has been greatly enriched by constant technological advances in medical robotics. This will help boost the penetration rate of the products. R&D in this regard has been spurred by increasing funding from medical robotics companies. As a result, manufacturers will benefit from the funding to unveil universally accessible and affordable products.
  • Stakeholders emphasize security mechanisms and cost-effectiveness: The need to improve safety aspects and make the surgical environment more efficient and suitable for robotic systems is opening up new frontiers in the surgical robot market. Product profitability will be a key decision criterion in determining how far to adopt surgical robots in various specialties.

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Surgical Robots Market: Key Drivers

  • Advances in medical technology have led to an increasing number of surgical robots that have been approved and marketed in developed and developed economies
  • Rising need for robotics that can help human operator to reduce variability and increase precision of surgical maneuvers in complex surgeries is another key driver of surgical robot market

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Surgical Robots Market: Regional Growth Dynamics

  • North America has become the leading market for surgical robots with a market share of more than 60% in 2021, estimates a study by TMR. The rapid deployment of medical robotic systems in hospitals and ambulatory surgery centers and their increasing applications in minimally invasive surgeries are fueling the outlook.
  • The Asia Pacific The surgical robot market is rife with opportunities and is expected to grow at a CAGR of 15.9% during the forecast period. Rising demand for surgeries among the geriatric population is one of the major trends driving revenue generation.

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Surgical Robots Market: Key Players

Some of the major players in the surgical robot market are Medrobotics Corporation, TINAVI Medical, Titan Medical, Inc., TransEnterix Surgical, Inc., Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic plc, and Intuitive Surgical, Inc.

Segmentation of the surgical robots market

  • Making up
    • Robotic systems
    • Accessories and consumables
    • Services
  • Application
    • Gynecological surgery
    • Urological surgery
    • Neurosurgery
    • Orthopedic surgery
    • General surgery
    • Other Apps
  • Final user
    • Hospitals
    • Ambulatory surgery centers
  • Method
    • Minimally invasive surgery
    • Open surgery

Regions

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, stay updated with Latest Health Industry Research Reports by Transparency Market Research:

Spine Surgery Robots Market: Spinal surgical robots are self-powered, computer-controlled devices programmed to facilitate the positioning and manipulation of surgical instruments. The Global Spine Surgery Robots Market Was Valued at Over US$75 million in 2017 and should reach US$320 million by 2026.

Pharmaceutical Robots Market: Global Pharmaceutical Robots Market was valued at US$92.73 million in 2017 and is expected to grow at a cumulative annual growth rate (CAGR) of over 12.1% from 2018 to 2026 to exceed a value of US$250.46 million by 2026.

Medical Robotic Systems Market: The Global Medical Robotic Systems Market was valued at more than US$5,581.8 million and should reach US$25,738.8 million by 2025. Increasing funding for research and development activities by governments and private organizations, rapid growth in robotic technology and increasing acceptance of minimally invasive surgeries are key factors fueling demand for medical robotic systems globally.

Robotic Rehabilitation and Assistive Technology Market: Rising geriatric population and large population with physical disabilities is expected to drive the global robotic rehabilitation and assistive technology market over the forecast period.

Eye Care Surgical Devices Market: The global market for surgical eye care devices is driven by the increasing incidence of eye disorders such as cataracts and glaucoma. Surgical eye care devices are used to correct vision, perform surgery and diagnose disease.

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