Surgical Robots Market Size Worth $18.2 Billion By 2030: Grand View Research, Inc.
SAN FRANCISCO, Jan. 26, 2022 /PRNewswire/ — The global surgical robots market size is expected to reach USD 18.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 19.3% from 2022 to 2030. Growing adoption of automated minimally invasive surgery and increasing awareness to use robotic procedures due to the potential benefits provided by these surgeries are the factors positively contributing to the growth of the market. Moreover, the increasing penetration of international players in various geographies is expected to boost the market growth over the forecast years.
Key Insights & Findings from the report:
- The market growth can be attributed to the increasing awareness regarding automated procedures and their growing adoption
- The others’ application segment dominated the market in 2021 due to the increasing usage of advanced automated instruments in cancer and increasing demand for minimally invasive laparoscopic surgeries
- North America dominated the market with a revenue share of over 50.0% in 2021 owing to the significant presence of international players, along with the lineup of many products for FDA clearance, ongoing developments in robotics, and the demand for minimally invasive surgeries to reduce the post-operative period
Read 118 page market research report, “Surgical Robots Market Size, Share & Trends Analysis Report By Application (Orthopedics, Neurology, Urology, Gynecology), By Region (North America, Europe, Asia Pacific, LATAM, MEA), And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Further, technological advancements in medical procedures and the growing acceptance of automated surgical equipment in healthcare institutions are anticipated to accelerate the penetration of surgical robots over the years. The increasing prevalence of several cancers, tumors, and spine disorder conditions is also one of the pioneering factors expected to propel the acceptance and adoption of surgical robots, thereby fueling growth.
Based on application, the market is segmented into urology, orthopedics, neurology, gynecology, and others. The others segment comprises the robots that are used in oncology, laparoscopy, and various other surgeries. The others’ segment dominated the market with a revenue share of over 30.0% in 2021. The segment growth is attributed mainly to the increasing usage of advanced automated instruments in cancer and tumor surgeries. In addition, successful outcomes from automated surgical procedures and shortage of surgeons and healthcare professionals are boosting the adoption and growth.
North America dominated the market with a revenue share of over 50.0% in 2021. This is mainly due to the increasing advancement of medical infrastructure and the presence of a large number of international players. Furthermore, increasing clinical adoption of advanced surgical equipment and rising demand for minimally invasive procedures are the other prominent factors responsible for the region.
In addition, the COVID-19 pandemic drastically impacted the penetration and adoption of surgical robots. Supply chain disruptions, along with lockdowns and shutdowns in major countries, substantially impacted the growth. In addition, reduction in overall surgical procedures during the pandemic and stringent regulations with respect to surgeries were some of the other factors that led to the de-growth of the market in 2020. However, with situations heading toward normalcy, the market is anticipated to grow at a significant rate during the forecast period.
Grand View Research has segmented the global surgical robots market based on application and region:
- Surgical Robots Application Outlook (Revenue, USD Million, 2016 – 2030)
- Surgical Robots Regional Outlook (Volume, Units; Revenue, USD Million, 2016 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East Africa
- South Africa
- Saudi Arabia
List of Key Players of Surgical Robots Market
- Stryker Corporation
- Smith & Nephew
- TransEnterix Surgical, Inc.
- Renishaw plc.
- Intuitive Surgical
- THINK Surgical, Inc.
- Zimmer Biomet
Check out more studies related to robotics in healthcare, published by Grand View Research:
- AI-based Surgical Robots Market – The global AI-based surgical robots market size was valued at USD 5.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.2% from 2021 to 2028. Robotic surgeries are gaining traction due to the increased efficiency and success rate provided by these surgeries, along with the “minimally invasive” nature of the surgeries.
- Exoskeleton Market – The global exoskeleton market size was valued at USD 257.9 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 18.0% from 2022 to 2030. In terms of volume, the market volume was 8,741 units is projected to expand at a CAGR of 11.0% from 2022 to 2030.
- Medical Robotic Systems Market – The global medical robotic systems market is expected to grow at a double digit CAGR. Increasing demand for accurate laparoscopic surgeries, growing need for surgical procedures in geriatric population, and rising cases of trauma injuries are the factors driving the growth of this market.
Browse through Grand View Research’s coverage of the Global Medical Devices Industry.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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