Surgical robotics, also called as robotically assisted surgery or computer assisted surgery involves involvement of special machines and techniques to perform surgical procedures. Increase in the rate of automation in healthcare sectors has facilitated the introduction of surgical robotics and unmanned surgery. Rise in incidence of chronic diseases and cancer and also neurological conditions is further expected to boost the growth of surgical robotics market. The use of surgical robotics ensure less procedural time and post-surgical complication, thus improving treatment outcomes in patients.
Increase in the rate of automation in healthcare sectors has facilitated the introduction of surgical robotics and unmanned surgery. Rise in incidence of chronic diseases and cancer and also neurological conditions is further expected to boost the growth of surgical robotics market. The use of surgical robotics ensure less procedural time and post-surgical complication, thus improving treatment outcomes in patients. Conversely, significant installation and maintenance cost of surgical robots, however, hold back the swift adoption of these systems, particularly in economically challenged regions.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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Increase in the rate of automation in healthcare sectors has facilitated the introduction of surgical robotics and unmanned surgery. Rise in incidence of chronic diseases and cancer and also neurological conditions is further expected to boost the growth of surgical robotics market. The use of surgical robotics ensure less procedural time and post-surgical complication, thus improving treatment outcomes in patients. Conversely, significant installation and maintenance cost of surgical robots, however, hold back the swift adoption of these systems, particularly in economically challenged regions.
Neurosurgery will be the fastest-growing surgery type segment during the forecast period
Surgical robots find a wide application in minimally invasive procedures. These solutions in tow with minimally invasive surgeries offer benefits such as quick procedural time, less blood loss, lesser scarring, and even lower risk of possible infection. Adequate use of surgical robotics will allow overcoming the risk of infections to surgeons and healthcare providers in case of HIV patients. Geriatric patients will highly benefit from robotic surgery as these procedures are safer than conventional surgeries and allow quick recovery and less in-patient stay. The key surgery types analyzed for the purpose of this study include gynecology, urology, neurosurgery, orthopedics and general surgery. Of these surgery types, gynecology enjoy the dominance position in terms of revenue generation. Reported high success rates of robotic surgeries in gynecology and proven efficacy mainly drive the demand for surgical robotics in gynecology application. Additionally, high incidence of gynecologic complications that are often treated with minimally invasive procedures also drive the gynecology segment. It is expected that neurosurgery will be the fastest growing surgery type segment during the forecast period. Substantial increase in incidence of neurological conditions and their high risk of morbidity, and increasing application of treatment regimen through robot-assisted procedures are the prime drivers of this segment.Software and Services segment is the fastest growing area in the overall market
Based on the type of components, the global surgical robotics market is categorized into surgical systems, accessories, and software and services. Among these components, surgical systems is observed to be the largest revenue generating segment and the fastest market growth will be observed in software and services segment. Significant purchase cost of surgical systems, ranging between US$ 1.2 million to US$ 2.5 million and increasing installation of these systems in surgical centers mainly drive the dominance of this segment. Additionally, high prices of these devices will also support the leading position of surgical systems through and beyond the forecast period. On the other hand, rapid technological advancement has urged swift upgrading of surgical systems thus driving the demand for software required for operating these systems. Since surgical systems form the core component of surgical robotic console, timely and frequent maintenance of these systems is also in demand; therefore making software and services segment the fastest growing area in the overall market.Asia Pacific will witness the fastest growth
For the purpose of this study, the global surgical robotics market is segmented into regional markets viz., North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In the base year 2020, North America was observed as the largest regional segment in the surgical robotics market. Since the introduction of da Vinci Surgical System in 2000, this market has witnessed skyrocket growth, thus making robotics a critical part of the U.S. healthcare system. Healthcare providers and patients alike have eagerly adopted robotic surgery due to proposed benefits such as quick recovery time, less scarring and blood loss and lower risk of infections. Strong demand from hospitals has allowed robust base for surgical robotics and thus lucrative scope for reimbursement. However, Asia-Pacific and Middle East and Africa are anticipated to be the fastest growing regional markets. Evolution of healthcare infrastructure, growing awareness between both patients and healthcare providers and increasing infrastructural expenditure in healthcare are the key market drivers in these regions.Historical & Forecast Period
This report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Surgical Robotics market are as follows:- Research and development budgets of manufacturers and government spending.
- Revenues of key companies in the market segment.
- Number of end users and consumption volume, price and value.
- Geographical revenues generated by countries considered in the report.
- Micro and macro environment factors that are currently influencing the Surgical Robotics market and their expected impact during the forecast period.
- The market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Component
- Surgical Systems
- Accessories
- Software and Services
Surgery Type
- Gynecology
- Urology
- Neurosurgery
- Orthopedic
- General Surgery
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Surgical Robotics market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Surgical Robotics market?
- Which is the largest regional market for Surgical Robotics market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Surgical Robotics market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Surgical Robotics market worldwide?
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Table of Contents
1. Preface1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Surgical Robotics Market
2.2. Global Surgical Robotics Market, by Component, 2021 (US$ Million)
2.3. Global Surgical Robotics Market, by Surgery Type, 2021 (US$ Million)
2.4. Global Surgical Robotics Market, by Geography, 2021 (US$ Million)
2.5. Impact of COVID-19
2.6. Attractive Investment Proposition by Geography, 2021
2.7. Competitive Analysis
2.7.1. Market Positioning of Key Surgical Robotics Market Vendors
2.7.2. Strategies Adopted by Surgical Robotics Market Vendors
2.7.3. Key Industry Strategies
3. Surgical Robotics Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global Surgical Robotics Market Value, 2020-2030, (US$ Million)
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Key Challenges
3.3.4. Key Opportunities
3.4. Impact Analysis of Drivers and Restraints
3.5. See-Saw Analysis
3.6. Porter’s Five Force Model
3.6.1. Supplier Power
3.6.2. Buyer Power
3.6.3. Threat of Substitutes
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTEL Analysis
3.7.1. Political Landscape
3.7.2. Economic Landscape
3.7.3. Technology Landscape
3.7.4. Legal Landscape
3.7.5. Social Landscape
4. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
4.3.1. Surgical Systems
4.3.2. Accessories
4.3.3. Software and Services
5. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Gynecology
5.3.2. Urology
5.3.3. Neurosurgery
5.3.4. Orthopedic
5.3.5. General Surgery
6. North America Surgical Robotics Market, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
6.3. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
6.4. Surgical Robotics Market: by Region, 2020-2030, USD (Million)
6.4.1. North America
6.4.1.1. U.S.
6.4.1.2. Canada
6.4.1.3. Rest of North America
7. UK and European Union Surgical Robotics Market, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
7.3. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
7.4. Surgical Robotics Market: by Region, 2020-2030, USD (Million)
7.4.1. UK and European Union
7.4.1.1. UK
7.4.1.2. Germany
7.4.1.3. Spain
7.4.1.4. Italy
7.4.1.5. France
7.4.1.6. Rest of Europe
8. Asia Pacific Surgical Robotics Market, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
8.3. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
8.4. Surgical Robotics Market: by Region, 2020-2030, USD (Million)
8.4.1. Asia Pacific
8.4.1.1. China
8.4.1.2. Japan
8.4.1.3. India
8.4.1.4. Australia
8.4.1.5. South Korea
8.4.1.6. Rest of Asia Pacific
9. Latin America Surgical Robotics Market, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
9.3. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
9.4. Surgical Robotics Market: by Region, 2020-2030, USD (Million)
9.4.1. Latin America
9.4.1.1. Brazil
9.4.1.2. Mexico
9.4.1.3. Rest of Latin America
10. Middle East and Africa Surgical Robotics Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Surgical Robotics Market: by Component, 2020-2030, USD (Million)
10.3. Surgical Robotics Market: by Surgery Type, 2020-2030, USD (Million)
10.4. Surgical Robotics Market: by Region, 2020-2030, USD (Million)
10.4.1. Middle East and Africa
10.4.1.1. GCC
10.4.1.2. Africa
10.4.1.3. Rest of Middle East and Africa
11. Company Profiles
11.1. Accuray Incorporated
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Portfolio
11.1.4. Strategic Initiatives
11.2. Elekta AB
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Portfolio
11.2.4. Strategic Initiatives
11.3. DePuy Synthes
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Portfolio
11.3.4. Strategic Initiatives
11.4. Mazor Robotics
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Product Portfolio
11.4.4. Strategic Initiatives
11.5. Hansen Medical
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Product Portfolio
11.5.4. Strategic Initiatives
11.6. Stryker Corporation
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Product Portfolio
11.6.4. Strategic Initiatives
11.7. Intuitive Surgical
11.7.1. Company Overview
11.7.2. Financial Performance
11.7.3. Product Portfolio
11.7.4. Strategic Initiatives
11.8. NuVasive
11.8.1. Company Overview
11.8.2. Financial Performance
11.8.3. Product Portfolio
11.8.4. Strategic Initiatives
11.9. Smith & Nephew plc (Blue Belt Technologies Ltd.)
11.9.1. Company Overview
11.9.2. Financial Performance
11.9.3. Product Portfolio
11.9.4. Strategic Initiatives
11.10. Think Surgical
11.10.1. Company Overview
11.10.2. Financial Performance
11.10.3. Product Portfolio
11.10.4. Strategic InitiativesList of Figures
Figure 1. Global Surgical Robotics Market: Market Coverage
Figure 2. Research Methodology and Data Sources
Figure 3. Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4. Global Surgical Robotics Market: Quality Assurance
Figure 5. Global Surgical Robotics Market, By Component, 2021
Figure 6. Global Surgical Robotics Market, By Surgery Type, 2021
Figure 7. Global Surgical Robotics Market, By Geography, 2021
Figure 8. Global Surgical Robotics Market, By Component, 2021 vs 2030, %
Figure 9. Global Surgical Robotics Market, By Surgery Type, 2021 vs 2030, %
Figure 10. U.S. Surgical Robotics Market (US$ Million), 2020-2030
Figure 11. Canada Surgical Robotics Market (US$ Million), 2020-2030
Figure 12. Rest of North America Surgical Robotics Market (US$ Million), 2020-2030
Figure 13. UK Surgical Robotics Market (US$ Million), 2020-2030
Figure 14. Germany Surgical Robotics Market (US$ Million), 2020-2030
Figure 15. Spain Surgical Robotics Market (US$ Million), 2020-2030
Figure 16. Italy Surgical Robotics Market (US$ Million), 2020-2030
Figure 17. France Surgical Robotics Market (US$ Million), 2020-2030
Figure 18. Rest of Europe Surgical Robotics Market (US$ Million), 2020-2030
Figure 19. China Surgical Robotics Market (US$ Million), 2020-2030
Figure 20. Japan Surgical Robotics Market (US$ Million), 2020-2030
Figure 21. India Surgical Robotics Market (US$ Million), 2020-2030
Figure 22. Australia Surgical Robotics Market (US$ Million), 2020-2030
Figure 23. South Korea Surgical Robotics Market (US$ Million), 2020-2030
Figure 24. Rest of Asia Surgical Robotics Market (US$ Million), 2020-2030
Figure 25. Brazil Surgical Robotics Market (US$ Million), 2020-2030
Figure 26. Mexico Surgical Robotics Market (US$ Million), 2020-2030
Figure 27. Rest of Latin America Surgical Robotics Market (US$ Million), 2020-2030
Figure 28. GCC Surgical Robotics Market (US$ Million), 2020-2030
Figure 29. Africa Surgical Robotics Market (US$ Million), 2020-2030
Figure 30. Rest of Middle East and Africa Surgical Robotics Market (US$ Million), 2020-2030List of Tables
Table 1 Global Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 2 Global Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Table 3 North America Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 4 North America Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Table 5 UK and European Union Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 6 UK and European Union Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Table 7 Asia Pacific Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 8 Asia Pacific Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Table 9 Latin America Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 10 Latin America Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Table 11 Middle East and Africa Surgical Robotics Market by Component, 2020-2030, USD (Million)
Table 12 Middle East and Africa Surgical Robotics Market by Surgery Type, 2020-2030, USD (Million)
Companies Mentioned
- Accuray Incorporated
- Elekta AB
- DePuy Synthes
- Mazor Robotics
- Hansen Medical
- Stryker Corporation
- Intuitive Surgical
- NuVasive
- Smith & Nephew PLC (Blue Belt Technologies Ltd.)
- Think Surgical
