Report Overview

The global surgical robots market was pegged at US$ 6.3 billion in 2021 and is expected to witness a CAGR of 17.40 % during the forecast period.

Market Fundamentals

Robotic surgery, also known as robot-assisted surgery, enables performing a wide range of complex surgical procedures with greater accuracy, versatility, and control than traditional techniques.  Robotic surgeries are often minimally invasive and therefore bring along benefits such as less blood loss, less scars, quick recovery and lower risk of infections. In some cases, robotic systems are also used in open procedures. A robotic surgical system conventionally includes a camera arm and mechanical arm for maneuvering surgical tools, along with a distant computer control system to be used by operating surgeon. The computer control consoles offer high-definition visibility to the surgical site. 

Market Dynamics

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The primary drivers of the global surgical robots market are the growing usage of automated surgical equipment due to offered benefits of minimally invasive surgeries such as safety from surgical site infections, less blood loss and quick recovery time. The market expansion is also being favorably impacted by the rising investments made by regional and international companies in the introduction of new and cutting-edge surgical robots. Additionally, other factors projected to fuel the market expansion are the rising prevalence of bone degenerative disorders and the rising number of hip and knee replacement procedures, neurological ailments, and bladder related issues. However, the restraining factor to the global surgical robots market is high cost of surgical robots makes the procedures unaffordable. 

Market Ecosystem

The global surgical robots market has been analyzed from four perspectives: applications, methods, end-user, and region.

Global Surgical Robots Market By Applications

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According to applications, the global surgical robots market is classified into orthopedic surgery, urological surgery, neurosurgery, gynecological surgery, and general surgery. The highest stake of the global surgical robots market is taken by orthopedic surgery. The factors owing to such dominance of orthopedic surgeries is less post-operative discomfort against conventional treatments, enhanced safety from surgery, less blood loss, fewer scars with narrower edges. Additionally, with enhanced precision of robots, surgeons can perform joint replacements with more accuracy. The surgical robots in neurological procedures are associated with advancements such as, precise procedural outcomes, shortened time for surgical procedures, better accuracy, and reduced risk of infections. 

Global Surgical Robots Market by Methods

Based on methods, the global surgical robots market is segmented into minimally invasive, and open surgeries. Between these the minimally invasive segment has highest stake of the global surgical robots market. Smaller incisions decrease the risk of infection and has minimum scars, less pain and recovery time. The robotics method in open surgery segment can also grow in the forecast period as robotics surgeries allow 3-D imaging and provides whole view of the structure which helps the surgeons in dealing with deformities firmly. 

Global Surgical Robots Market by Region 

Regionally, the global surgical robots market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America has the highest stake in the global surgical robots market, owing to factors greater adoption of technological advancements, presence of well-developed healthcare infrastructure, and high prevalence of chronic and infectious diseases. Other drivers for the growth of surgical robots market in North America is the rising rate of gynecological, neurological, and urological surgeries. Additionally, the development of complex and novel robots will satisfy the expanding demands of end customers. Asia Pacific is also going to witness significant growth in this market because of rapid evolution of healthcare infrastructure and improving healthcare expenditure. The number of da Vinci systems installed in hospitals across China increased from 8 installations in 2018 to 59 installations in 2019, highlighting the successful outcomes of Intuitive Surgical's JV there. The central government of China has purchased more than 150 surgical robotic systems by 2020. Similarly, the Thailand Board of Investment has also established a committee in 2021 with the task of development of advancements in medical robots technology.

Competitive Landscape

Some of the prominent players operating in the global surgical robots market are 

• Intuitive Surgical Inc.
• Smith & Nephew plc
• Medtronic plc
• Styker Corporation 
• Zimmer Biomet Holdings Inc. 
• TransEnterix Surgical Inc. 
• Titan Medical Inc. 
• TINAVI Medical Technologies Co. Ltd
• Medrobotics Corporation 
• Siemens Healthineers AG

Strategic Developments

• In 2020 Med-Tech giant Medtronic bought London-based Artificial Intelligence (AI) company Digital Surgery. The business also made its surgical robot debut in 2019 with a live demonstration of a cadaver surgery utilizing the robot and a panel discussion with doctors.
• In September 2021, surgical robotics startup Vicarious Surgical and special-purpose acquisition company D8 Holdings Corp. have agreed to combine (SPAC). The mission of Vicarious is to create robotic technologies that will improve patient outcomes, increase surgical efficiency, and lower healthcare costs. The Vicarious received US$ 115 million private investment in public stock, which raised the company's worth to US$ 1.1 billion.

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