Surgical Robots Market size was valued at USD 3.91 billion in 2023 and is anticipated to reach USD 12.57 billion by 2036, expanding at around 9.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of surgical robots is assessed at USD 4.2 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.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
9.4% |
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Base Year Market Size (2023) |
USD 3.91 billion |
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Forecast Year Market Size (2036) |
USD 12.57 billion |
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Regional Scope |
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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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By Component |
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By Application |
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By End User |
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Regionally, the global surgical robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is set to account for largest revenue share by 2036, 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%).
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.
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
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