Robotic Surgery Market by Component (Robotics Systems, Instruments & Accessories, Services); by Application (Orthopedic Surgery, Gynaecological Surgery, General Surgery, Neurosurgery, Urological Surgery); by Region (North America, Europe, Asia-pacific, Latin America, Middle East Africa): Global Forecasts 2021 To 2027

Date : Sep 2021

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Report ID : 220

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Category : Healthcare

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Report Format:  PDF EXCEL PPT WORD

The Global Robotic Surgery Market was valued at USD 4.5 Bn in 2020 is expected to reach USD 14.2 Bn by 2027, with a growing CAGR of 9.6% during the forecast period

Robotic surgery is a surgical procedure which is performed using robotic systems. These are fully automated and technologically advanced systems that are used to perform medical surgeries. Robotic surgery provides set of advantages such as less pain, less blood loss, less time consuming.  Robotic surgery also provides better clinical outcomes.

Global Robotic Surgery Market Size (USD Bn) 

The driving factors for global robotic surgery market include increase in adoption of advanced tool and techniques for surgical procedures, increasing investment by manufacturers and government for research and development activities. Moreover, growing need for improved services across the globe, growing trend of artificial intelligence and robotics in healthcare sector boost the growth for the robotic surgery market. However, the high cost associated with the robotics systems and the surgical procedures, availability of economical surgical alternatives and lack of trained surgeon on robotic systems might hamper the growth of this market during the forecast period.

Global Robotic Surgery Market Segmentation:

By Component

  • Robotics Systems
  •  Instruments & Accessories
  • Services

By Application

  • Orthopedic Surgery
  • Gynaecological Surgery
  • General Surgery
  • Neuro Surgery
  • Urological Surgery

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Based on component, instruments and accessories held the highest market share in 2020 due to technological advances

Based on type, robotic surgery market has been segmented into robotic systems, instruments & accessories, and services. Instrument and accessories segment is expected to register the fastest growing CAGR throughout the forecast periods owing to the increasing need for disposable and reusable accessories used during the surgery.

The surgical system segments hold the one-third share of the market owing to the high cost associated with the instrument and its installation, and rising adoption of these instruments in tier-1 hospitals in developed and developing economies. The services segment is expected to register a lucrative growth in coming years as the performance of robotic systems are solely dependent on the maintenance services.

Based on application, general surgery accounted for the highest market share in 2020 and expected to increase more during forecast period due to rise in number of geriatric populations

Based on application, the market has been segmented into general surgery, gynaecological surgery, orthopaedic surgery, neurosurgery, urological surgery, and other surgeries. The general surgery segment accounted for the largest share in the market in 2020 due to increasing application surgical robotics in verity of surgery such as bariatric surgery, hernia repair, cholecystectomy, pancreatectomy and gastrectomy among other types of surgery.

Orthopaedic surgery is expected to register the highest CAGR of 8.5% during the forecast period. Increasing prevalence of the orthopaedic disease and growing geriatric population with joint paints are few of the prime factors responsible for the growth of orthopedic robotic surgery segment throughout the forecast period.

Based on geographical region, North America held the highest market share in 2020 due to early adoption of technological advances in healthcare

Based on region, North America accounted for nearly 40% share of the robotic surgery market in 2020 and is expected to dominate the market throughout the forecast period followed by Europe. The growth of this region is attributed to the early adoption of advanced tools and technology in the healthcare sector, favourable government regulations and increasing incidences of chronic diseases which needs surgical procedures as a treatment option.

However, Asia Pacific region is expected to grow at the fastest CAGR owing to the high patient’s population, increasing government initiatives to improve healthcare infrastructure in developing economies and growing collaboration of western companies with local manufacturers to develop new tools at low cost.

Company Profiles and Competitive Intelligence

The key players operating in the robotic surgery market are:

  • Intuitive Surgical
  • Stryker
  • Mazor Robotics
  • Hansen Medical
  • Smith & Nephew
  • THINK Surgical
  • Medrobotics
  • Medtech
  • Renishaw
  • TransEnterix
  • Zimmer Biomet Holdings Inc
  • Medtronic
  • Asensus Surgical
  • Corindus Vascular Robotics
  • Medrobotics Corporation
  • Verb Surgical
  • OMNI life Science
  • CMR Surgical
  • Preceyes BV
  • China National Scientific Instruments and Materials Corporation (CSIMC)
  • Microsure
  • Titan Medical
  • Avatera medical Gmbh
  • Medicaroid Corporation

The report also provides an in-depth analysis of robotic surgery market dynamics such as drivers, restraints, opportunities and challenges

Drivers

  • Rise in technological advances in healthcare
  • Increase in number of surgical centers
  • Growing demand for minimal invasive and high safety rate medical procedures
  • Rising demand for artificial intelligence in healthcare sector

Restraints

  • High cost of surgical procedures and equipment's
  • Lack of highly skilled and trained professionals

Opportunities

  • Rising demand for more innovative surgical procedures
  • Increase in penetration of robotics in ambulatory surgery centers

Challenges

  • Increase in number of key players in the robotics surgery market
  • Unexplored market of developing countries such as India, China and Mexico

COVID-19 Impact on the Robotic Surgery Market Analysis

Covid-19 has highly affected the industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, every industry is trying to give best services in terms of quality and safety. During covid-19 outbreak, there were restrictions on movement and export/import of raw materials which affected the manufacturing industry badly.

Moreover, number of patients also decreased due to social distancing and surgeries were kept on hold during covid-19 outbreak. Covid-19 has immensely affected the growth of robotic surgery industry as skilled professionals and healthcare staff were focused on providing service to the covid-19 infected population. This pandemic has led to interim ban on small/big surgeries to avoid intimate contact with each other.

The report also provides an in-depth analysis of key trends in robotic surgery market

  • An increase in government spending on healthcare facilities, development in innovative surgical equipment's and rising demand for minimally invasive, less time-consuming procedures drives the growth of the robotic surgery market
  • During covid-19, there was a sudden pitfall in demand for surgical equipment's as priority was given to the covid-19 infected population, which ultimately affected the growth of the robotic surgery market
  • However, due to restrictions on movement and social distancing, people stayed at home to avoid the chances of visiting a doctor during a pandemic. This affected the growth of the robotic surgery market across the globe

The report also provides an in-depth analysis of recent news developments and investments

  • In January 2021, Mount Sinai collaborated with Preceyes’ which would help Preceyes robot-assisted ocular surgical to enter American market.
  •  In January 2021, SSI launched its multi-arm novel tele-robotic assistance surgical system in the country to expand their business

The unique insights provided by this report also includes the following:

  • In-depth Value Chain Analysis
  • Opportunity Mapping
  • Sector Snapshot
  • Key Players Positioning Matrix
  • Regulatory Scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market Trends
  • Covid-19 Impact Analysis
  • Product Comparison
  • Pre & Post COVID 19 Impacts on Robotic Surgery Market
  • Competitive Landscape

Frequently Asked Questions (FAQs)

What is the size of the global robotic surgery market?

The global robotic surgery market was valued at USD 4.5 Bn in 2020 and is anticipated to reach USD 14.2 Bn by 2027.

What is the estimated market growth rate of robotic surgery industry?

The global robotic surgery market is estimated to grow at a compound annual growth rate (CAGR) of 9.6% during forecast period.

What is the share of North America in robotic surgery market?

In the base year 2020, North America accounted for about 40% share in the robotic surgery market

Which factor restraint the growth of global robotic surgery system market?

High cost of surgical procedures and lack of trained & skilled professionals restraint the growth of global robotic surgery market.

What are the expert opinions on the global robotic surgery market?

As per expert opinions, increase in demand for minimal invasive, less time-consuming surgical procedures, rise in geriatric population and growing government spending on healthcare & research facilities will drive the growth of global robotic surgery market.

Who are the key players in the robotics surgery industry?

Few key players include, but not limit up to: Intuitive Surgical, Mazor Robotics, Stryker, Hansen Medical, Renishaw, Smith & Nephew, THINK Surgical, TransEnterix, Asensus Surgical, Zimmer Biomet Holdings Inc, Medtronic, Asensus Surgical and Medrobotics Corporation

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  1.  Introduction
    1. Product Outline
    2. What is Robotic Surgery Market?
    3. Analysis of Robotic Surgery Market
    4. Covid -19 Impact
    5. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    6. Technology Overview
    7. PESTLE Analysis
  2. Regulatory Landscape for Robotic Surgery Market
    1. Regulations and Standards
  3. Robotic Surgery Market by Component
    1. Robotics Systems
    2.  Instruments & Accessories
    3. Services
  4. Robotic Surgery Market by Application
    1. Orthopedic Surgery
    2. Gynaecological Surgery
    3.  General Surgery
    4. Neurosurgery
    5. Urological Surgery
  5. Regional Analysis
    1. North America
      1. US
      2. Canada
    2. Europe
      1. Germany
      2. UK
      3. France 
      4. Spain
      5. Netherlands
      6. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. Rest Of Asia Pacific
    4. Latin America
      1. Brazil
      2. Mexico
      3. Rest of Latin America
    5. Middle East Africa (MEA)
      1. GCC
      2. Rest of MEA
  6. Key Strategic Insights
  7. New Raw Material Sources
    1. New Applications
    2. Emerging Technologies
    3. Opportunity Mapping
    4. Critical Success Factors
    5. Customer Preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1.  Mergers and Acquisitions
    2. Investments
    3. Joint Ventures
    4. New Product launches
    5. Ranking of Key Players
  10. Key global players
    1. Intuitive Surgical
    2.  Stryker
    3.  Mazor Robotics
    4. Hansen Medical
    5.  Smith & Nephew
    6.  THINK Surgical
    7.  Medrobotics
    8.  Medtech
    9.  Renishaw
    10.  TransEnterix
    11. Zimmer Biomet Holdings Inc
    12. Medtronic
    13.  Asensus Surgical
    14. Corindus Vascular Robotics
    15. Medrobotics Corporation

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