Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Surgical Robots Market size was valued at USD 4.28 billion in 2024 and is likely to cross USD 13.76 billion by 2037, expanding at more than 9.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of surgical robots is estimated at USD 4.62 billion.
The growth of the market can be attributed to the increasing healthcare expenditure across the globe, and growing private and venture funding for medical robot research. According to the World Health Organization, the global spending on health reached USD 2.3 trillion in 2018, or 10% of the global GDP. Along with these, robotic platforms facilitate the uptake of minimally invasive procedures that provide lesser complications associated with low surgical site infection, minimal blood loss, less pain, faster recovery, and minimal scarring. This is also expected to be a crucial factor driving market growth in the forthcoming years. Furthermore, rise in penetration of surgical robots in ambulatory surgical centers is projected to offer lucrative opportunities to the market in the near future.
Surgical Robots Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Healthcare Expenditure Across the Globe
- Growing Private and Venture Funding for Medical Robot Research
Challenges
- High Cost of Robotic Systems
Surgical Robots Segmentation
The market is segmented by application into urology, gynecology, general surgery, thoracic surgery, cardiac surgery, neurosurgery, and others, out of which, the neurology segment is anticipated to observe robust growth in the global surgical robots market. This can be accounted to the fact that robotic neurosurgery procedures are able to deliver successful outcomes with reduced limitations as compared to traditional neurological methods. Apart from this, the urology segment is predicted to grab the largest share by 2030 owing to the increasing number of prostatectomy procedures performed worldwide. Additionally, on the basis of end user, the hospitals segment is assessed to acquire the largest share during the forecast period, which can be credited to the availability of advanced infrastructure and highly-trained professional surgical teams in hospitals
Our in-depth analysis of the global market includes the following segments:
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Customize this ReportSurgical Robots Industry - Regional Synopsis
Asia Pacific industry is predicted to hold largest revenue share by 2037, ascribed to growing demand for surgical robots in China and India, and rising advancements in surgical systems in the region, ascribed to growing demand for surgical robots in China and India, and rising advancements in surgical systems in the region. Moreover, the market in Europe is expected to gather the largest share during the forecast period ascribing to the favorable reimbursement policies in publicly funded hospitals in the region. In addition, high spending in the development of robots, and strong presence of market players are also projected to drive market growth in the region in the coming years. As per the European Union Stats, 7% of the enterprises in the European Union employ at least 10 persons used industrial or service robots. Also, enterprises more commonly use industrial robots (5%) than service robots (2%).
Companies Dominating the Surgical Robots Landscape
- Accuracy Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Intuitive Surgical, Inc.
- Auris Surgical Robotics
- Medtech SA
- Stryker Corporation
- Medtronic plc
- Renishaw plc.
- Mazor Robotics
- TransEnterix Surgical, Inc.
- Smith & Nephew plc
In the News
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November 2021- Medtronic announced that it will launch robotic assisted surgery procedures in the Indian market, with the aim of improving access to quality healthcare for patients.
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February 2019- Johnson & Johnson acquired California-based surgical robot startup Auris Health for USD 3.4 billion in cash to expand its digital surgery business.
Author Credits: Radhika Pawar
- Report ID: 3875
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
