The Growth in surgical robots market is primarily driven by the
advantages of robotic-assisted surgery, technological advancements in surgical
robots, the increasing adoption of surgical robots, and increased funding for
medical robot research. The companies have a large market spread across various
countries in North America, Europe, Asia
Pacific, and the Rest of the World.
The global surgical robots market size was valued at USD 6.4 billion in 2021 and is expected to grow at CAGR of 17.6% from 2021 to 2026.
The COVID-19 pandemic has had a devastating global impact on the
world's population and economy. The pandemic has put a significant strain on
healthcare systems. During this period, healthcare institutions and providers
have been instructed to stop performing elective surgical procedures and
medical examinations to minimize the possibility of transmission and conserve
healthcare resources for COVID-19 patients. The pandemic has led to a temporary
ban on elective surgeries across the globe, which resulted in the cancellations
of elective surgeries worldwide posing a negative impact on the globe.
Market Segmentation:-
Based on product & service, the surgical robots market is
segmented into robotic systems, instruments & accessories, and services.
The instruments & accessories segment commanded the largest share of 53.8%
of the market in 2020. This segment is also expected to grow at the highest
CAGR of 18.2% during the forecast period. The large share and high growth rate
of this segment are mainly driven by the recurrent purchase of instruments
& accessories instead of robotic systems, which are a one-time investment.
Based on application, the surgical robots market is segmented
into general surgery, urological surgery, gynecological surgery, orthopedic
surgery, neurosurgery, and other applications. The general surgery segment
commanded the largest share of 29.5% of the market in 2020. This segment is
also projected to register the highest CAGR of 18.2% during the forecast
period. Growth in this market segment can be attributed to the increased use of
surgical robots in general procedures such as bariatric surgery, Heller myotomy,
gastrectomy, hernia repair, cholecystectomy, transoral surgery, and
pancreatectomy.
Regional Analysis:
North America dominated the surgical robots market, with a share of 63.6% in 2019, while the Asia Pacific region is expected to register the highest CAGR of 18.5% during the forecast period. The large share of the North American market can be attributed to the availability of funding for R&D in surgical robots in this region and the increasing adoption of surgical robots for pediatric surgeries in Canada and general surgery procedures in the US.
Top Key Players:
Some of the prominent players operating in the Surgical robots
market are Intuitive Surgical (US), Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US),
Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw
(UK), Auris Health (US), Medrobotics Corporation (US), Think Surgical (US),
Verb Surgical (US), OMNIlife Science (US), CMR Surgical (US), Preceyes BV
(Netherlands),
China National Scientific Instruments And Materials Corporation (CSIMC) (China), Microsure (Netherlands),
Titan Medical (Canada),
avateramedical Gmbh (Germany)
and Medicaroid Corporation (Japan).