The global Surgical Robots market size is expected to be worth around US$ 9.30 billion by 2030, according to a new report by Vision Research Reports.
The global Surgical Robots market size was valued at US$ 2.05 billion in 2020 and is anticipated to grow at a CAGR of 22.5% during forecast period 2022 to 2030.
Increasing demand and acceptance of laparoscopic or minimally invasive surgery (MIS) is due to the benefits to patients and surgeons, such as better screening, greater precision, shorter hospitalization, reduced pain and discomfort, reduce the risk of infection, reduced blood flow and transfusion. In addition, the increasing number of gynecological, neurological and urological diseases is the main factor that drives the growth of the surgical robots market. Moreover, the introduction of new and sophisticated robots will meet the growing needs of end users.
The key factors boosting the surgical robots market size are increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries. However, the high cost associated with surgical robotic surgeries & robotic systems will hamper the medical robots market. Additionally, the rise in death toll and injuries due to robotic surgeries will also impede the growth of surgical robots market. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative opportunities in the surgical robots market.
The others segment dominated the market in 2021 with a revenue share of over 31%. Based on application, the market is segmented into urology, orthopedics, neurology, gynecology, and others. The others segment includes surgical robots that are used in oncology, laparoscopy, and various other general surgical procedures. Growing usage of robots for cancer treatment procedures and increasing demand for minimally invasive laparoscopic surgeries are the major factors fueling the growth of the segment.
The neurosurgery segment is expected to expand at the fastest growth rate over the forecast period. The rising adoption of robots in neurosurgeries owing to benefits provided by surgical robots over traditional techniques of surgery is anticipated to boost the growth of the segment at a substantial rate. Moreover, technological advancements, coupled with successful outcomes from robotic neurosurgery, are expected to fuel the growth of the segment over the years. Growing usage of automated robotic instruments in brain surgeries is also expected to drive the segment. For instance, in 2019, according to an article published in Robotics Industries Association (RIA), 5G technology and robotic assistance were used to carry out brain surgery. Such activities signify the potential growth of the neurosurgery segment.
North America held the largest revenue share of over 51% in 2021. Increasing next-generation healthcare facilities in the U.S., coupled with the growing adoption of automated surgical instruments, are driving the market in this region. Besides, the shortage of healthcare professionals and surgeons as per the patient population in the U.S. is also expected to drive the regional market. Moreover, the increasing number of chronic disorders such as cancer, diabetes, and cardiovascular diseases in the U.S. is accelerating the adoption of automated surgical equipment, which, in turn, is driving the market in this region.
The Asia Pacific region is anticipated to grow at a lucrative rate over the forecast period owing to the growing patient population and increasing adoption of advanced automated surgical instruments. In addition, growing awareness to adopt advanced medical technology, coupled with increasing modern healthcare facilities, is anticipated to boost the market growth in the region. Furthermore, increasing government initiatives to develop advanced healthcare infrastructure attract foreign investors to invest in automated instrument developments, which is anticipated to fuel the market growth in this region over the forecast years.
The Surgical Robots market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Surgical Robots market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Surgical Robots market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surgical Robots market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Surgical Robots market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Surgical Robots capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Surgical Robots by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Surgical Robots market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Surgical Robots market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Surgical Robots market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Surgical Robots industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Surgical Robots market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Surgical Robots market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Surgical Robots market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Surgical Robots market. These factors have benefited the growth of the global market for Surgical Robots. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Surgical Robots. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Surgical Robots are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
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