Surgical Robots Market Size

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.