Surgical Robots Market Forecast: Growth Opportunities and Industry Outlook

[Snehal Shaha]

The surgical robots market refers to the industry and market segment focused on robotic systems designed for use in surgical procedures. Surgical robots are advanced medical devices that assist surgeons in performing complex surgical procedures with enhanced precision, control, and flexibility.

The report Surgical Robots Market is projected to reach USD 18.4 billion by 2027 from an estimated USD 8.5 billion in 2022, at a CAGR of 16.6% during the forecast period.

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Surgical Robots Market Dynamics:
Drivers:
1. Advantages of robotic-assisted surgery
2. Technological advancements
3. Improving reimbursement scenario
4. Increasing adoption of surgical robots
5. Increase in funding for medical robot research
Opportunities:
1. Increasing penetration of surgical robots in ASCs

Market Segmentation: -
• By product & service, the surgical robots market has been segmented into robotic systems, instruments & accessories, and services. In 2021, the robotic systems segment accounted for the second largest share of the surgical robots market.
• By robotic systems, the surgical robots market has been segmented into laparoscopy robotic systems, orthopedic robotic systems, neurosurgical robotic systems, and other systems.
• By application, the surgical robots market has been segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and other applications. The general surgery segment is projected to register the highest growth during the forecast period.
• Based on end users, the market has been segmented into hospitals & clinics and ambulatory surgery centers. In 2021, the hospitals & clinics accounted for the largest share of the market.

Regional Analysis:
Europe is another prominent region in the surgical robots market. Countries such as Germany, the United Kingdom, France, and Italy have been key players in this market. The region has a well-established healthcare system, high awareness about robotic technologies, and favorable reimbursement policies, which have contributed to the growth of the market.

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Recent Developments:
• In 2022, BGS Beta-Gamma-Service GmbH & Co. KG expanded its laboratory in Wiehl to meet the increased need for sterilization services in the sectors of biotechnology, medicine, and diagnostics for radiation cross-linking.
• In 2022, Sterigenics expanded its electron beam facility located in Columbia city, Indiana. This facility provides mission-critical E-beam sterilization services to help ensure the safety of medical devices and drug products.
• In 2021, STERIS acquired Cantel, which is a provider of infection prevention services, and this acquisition will strengthen the STERIS leadership in infection prevention by bringing together two complementary businesses.

Top Key Players:-
Intuitive Surgical (US), Stryker Corporation (US), Medtronic Plc (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (US), Siemens Healthineers (Germany), CMR Surgical (UK), Johnson & Johnson (US), and Renishaw Plc. (UK) are key players in the surgical robots market.

It's important to note that the surgical robots market is dynamic and evolving, with ongoing research and development leading to the introduction of new technologies and applications. Regional market dynamics can vary based on factors such as healthcare infrastructure, reimbursement policies, and regulatory environment.