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| Global Surgical Robots Market Size |
Surgical robots have revolutionized complex surgical procedures with their
dexterity and precision capabilities. Utilizing robotics in surgery provides
advantages such as increased range of motion, improved ergonomics, scaled
motion, three-dimensional visualization, and dexterity beyond human
capabilities. The growing demand for accurate minimal invasive surgeries across
various medical specialties has propelled the adoption of surgical robots. With
advantages such as smaller incisions, decreased scarring, reduced pain, and
fast recovery times, surgical robots are increasingly being accepted as
standard of care in specialties such as general surgery, gynecology, and
urology procedures.
The Global
Surgical Robots Market Size is estimated to be valued at US$ 1,177.3 million in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period
between 2024 to 2031.
Key Takeaways
Key players operating in the surgical robots market are Merck & Co., Inc.,
Ferring Pharmaceuticals, Inc., EMD Serono, Inc., Pfizer Inc., Novartis AG.
Surgery robot manufacturers are focusing on developing technologically advanced
systems with improved dexterity and precision. For instance, Intuitive Surgical
launched da Vinci SP surgical system with upgraded vision and wristed
instruments for improved control and precision.
The increasing incidence of cancer and chronic diseases requiring complex
surgical procedures around the world present lucrative growth opportunities. It
is estimated that over 50% of cancer surgeries could potentially use surgical
robots. Furthermore, increasing demand for minimally invasive procedures from
consumer preference for minimal scarring and fast recovery will continue to
drive the adoption of surgical robots.
Globally, the penetration of surgical robots is currently limited to developed
markets of North America, Western Europe and Japan. However, factors such as
increasing healthcare expenditure, medical tourism and rising consumer
affordability are expected to drive the increasing adoption of surgical robots
in emerging countries of Asia Pacific, Latin America, Eastern Europe and Middle
East regions. With higher growth potential, major players are focusing on
expanding their footprint in these emerging surgical robot markets.
Market Drivers
Shorter hospital stays and recovery times associated with minimally invasive
robotic surgeries is a major market driver. Using surgical robots allows
conducting complex surgeries through smaller incisions reducing wound healing
times. This translates to lower post-surgical complications and decreased
healthcare costs for insurers and governments. Additionally, increasing
awareness about superior outcomes of robotic surgeries among consumers has
boosted the adoption of surgical robots.
Market Restrains
High costs of surgical robot systems and procedural costs is a key challenge
restraining widespread adoption. Installation of a basic surgical robot system
requires a capital investment of over US$ 1-2 million. Additionally, each
robotic procedure consumes special robotic instruments that increase overall
costs to nearly 2-3X of conventional laparoscopic surgeries. With increasing
price sensitivity in healthcare, high costs can dampen growth particularly in
developing markets.
Segment Analysis
The global surgical robots market has primarily been segmented into component
type, application, and end-users. The component type segment was dominated by
the robotic system sub-segment owing to its increasing adoption in hospitals
for various surgical procedures. Robotic systems offer advantages such as
increased precision, flexible movements, 3D HD views, and minimally invasive
surgery. Based on application, general surgery has been the largest sub-segment
due to rising demand for robotic surgeries in treatment of spinal fusion,
hysterectomy, prostatectomy, tumor resection, etc. Hospitals have been the
major end-users as robotic surgeries are mainly carried out in hospitals.
Global Analysis
Regionally, North America dominated the global market and is estimated to
maintain its dominance during the forecast period. This is attributed to
factors such as increasing adoption of advanced medical technologies, rising
healthcare spending, and growing awareness regarding advanced treatment
options. On the other hand, Asia Pacific is anticipated to witness the highest
growth rate during the forecast period owing to improving healthcare
infrastructure, rising medical tourism, increasing disposable incomes, and
growing focus of international players on establishing their distribution
channels in the region.
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