Surgical Robotics Market Report and Forecast 2023-2028

According to the report, the global surgical robotics market reached a value of USD 7.32 billion in 2022. Aided by the rapid technological advancements, growing healthcare investments, and an increasing number of minimally invasive surgeries, the market is projected to further grow at a CAGR of 19.90% between 2023 and 2028 to reach a value of USD 21.96 billion by 2028.

Surgical robotics are systems that facilitate the execution of surgical procedures in a minimally invasive manner. These robots provide surgeons with enhanced capabilities, such as high-definition 3D vision, improved dexterity, and precise movements, enabling complex surgeries to be performed with higher precision, flexibility, and control than is possible with conventional techniques.

The increasing need for precision in surgeries, along with the shift towards minimally invasive procedures, is driving the global surgical robotics market growth. Moreover, as populations age, the demand for surgical interventions, including those for cancer, is likely to grow significantly, increasing the need for precision surgical solutions.

The escalating global preference for minimally invasive surgeries is a critical driver for the surgical robotics market. Such procedures are associated with less pain, lower risk of infection, shorter hospital stays, and quicker recovery times compared to traditional open surgeries. Surgical robots, due to their precise and controlled movements, have emerged as the leading technology enabling these less intrusive procedures, thereby contributing to the surgical robotics market demand.

As technology continues to advance rapidly, the healthcare sector is no exception. Innovations such as AI, machine learning, and advanced imaging capabilities are increasingly being incorporated into surgical robotics systems. These integrations are making these robots smarter, more autonomous, and more precise, thus expanding their applicability and efficiency across a range of surgical procedures and boosting their adoption rates globally.

Surgical robotics were initially introduced for neurosurgical procedures but have since expanded their application into various fields, including orthopaedic, laparoscopic, and cardiovascular surgeries. This diversification is a testament to the versatility and effectiveness of surgical robotics and plays a significant role in increasing the surgical robotics market size.

While developed countries, particularly in North America and Europe, currently dominate the market for surgical robotics, increasing adoption is being noted in emerging economies. Rising healthcare expenditure, improving healthcare infrastructure, and increasing awareness of the benefits of robot-assisted surgeries are factors contributing to the surgical robotics market expansion in these regions.

Market Segmentation

The market can be divided based on component, surgery type, and region.

Market Breakup by Component

• Surgical Systems
• Accessories
• Services

Market Breakup by Surgery Type

• Gynaecological Surgery
• Urological Surgery
• Neurosurgery
• Orthopaedic Surgery
• General Surgery
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global surgical robotics market.

Some of the major players explored in the report are as follows:

• Johnson & Johnson
• Intuitive Surgical, Inc.
• KUKA AG
• MAKO Surgical Corp.
• Renishaw plc
• THINK Surgical, Inc.
• Auris Health, Inc.
• Medtronic plc
• Smith & Nephew plc
• Others

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.