The Surgical Robots Market is to grow by USD 7,892.61 million from 2022 to 2027|Growth driven by high adoption due to convenience - Technavio

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Aug 03, 2023, 12:00 ET

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The surgical robot market is to grow by USD 7,892.61 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 20.67% during the forecast period, according to Technavio. The surgical robot market is fragmented, and the companies are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc., United Orthopedic Corp., Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., and Virtual Incision are some of the major market participants -. To know about the company offerings - Request a sample report

Technavio has announced its latest market research report titled Global Surgical Robots Market

Surgical Robots Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The surgical robots market report covers the following areas:

The surgical robot market is fragmented, and the degree of fragmentation will accelerate. The high adoption due to convenience will offer immense growth opportunities. However, the Cost and affordability associated with surgical robots will hamper the market growth.

Surgical Robots Market 2023-2027- Market Dynamics

Key Driver

The high adoption due to convenience is a key factor driving market growth. The surgeon is provided with greater control and dexterity, allowing for more precise movements during surgery which is one of the key features of surgical robots. Furthermore, better surgical outcomes, reduced complications, and greater patient safety are some of the key benefits of surgical robots in the medical industry. Hence such factors are expected to drive market growth during the forecast period.

Major Trends

The high demand from developing countries is one of the major trends in the market. As healthcare systems in developing countries strive to improve patient outcomes and improve the quality of healthcare services, there is a growing demand for surgical robots in developing countries. They help solve problems by providing a platform for training and skills development which includes simulation skills that allow surgeons to practice complex surgeries and improve proficiency. Therefore, such factors are expected to drive market growth during the forecast period.

Significant Challenges

Cost and affordability associated with surgical robots are one of the significant challenges restricting market growth. This is due to the high initial investment and ongoing costs of training, maintenance, and instrument sterilization. In addition, regular maintenance, and upkeep such as regular inspections, software updates, and device calibration to ensure optimal performance and longevity are other factors limiting the growth. Hence, the above-mentioned factors are expected to restrict market growth during the forecast period.

To learn more about the global trends impacting the future of market research, download a PDF sample

Surgical Robots Market 2023-2027: Segment Analysis

Application

General And Laparoscopy Surgery
Gynecological Surgery
Orthopedic Surgery
Neurosurgery
Urology And Others

End-user

Hospitals
Ambulatory Service Centers

Geography

North America
Europe
Asia
Rest Of World (ROW)

Surgical Robots Market 2023-2027: Segmentation Highlights

The market share growth by the general and laparoscopy surgery segment will be significant during the forecast period. The key factor for the growth of the segment is the advancement in technology. Surgical robots are growing in demand and popularity across the medical field due to their many benefits, including pain relief, minimal scarring, shorter hospital stays, and faster return to normal activity. In addition, robots can also be integrated with additional technologies such as augmented reality, allowing surgeons to visualize patient-specific anatomical information during surgery. Hence, these factors are expected to drive segment growth during the forecast period.
North America is estimated to contribute 38% to the growth of the global market during the forecast period. This growth is due to the increasing adoption of surgical robots across the healthcare sector in the region due to their several benefits such as enhanced precision, improved dexterity, smaller incisions, reduced blood loss, and faster patient recovery times. For example, according to CDC statistics about 133 million individuals in the US had one or more chronic disease conditions. Hence, these factors are expected to drive market growth in the region during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Surgical Robots Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist surgical robots market growth during the next five years
Estimation of the surgical robots market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the surgical robots market across North America, Europe, Asia, and the Rest of the World (ROW)
Analysis of the market's competitive landscape and detailed information on companies
Comprehensive details of factors that will challenge the growth of surgical robots market companies

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Surgical Robots Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 20.67%
Market growth 2023-2027	USD 7,892.61 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	19.05
Regional analysis	North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution	North America at 38%
Key countries	US, UK, Germany, China, and Japan
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc., United Orthopedic Corp., Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., and Virtual Incision
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of companies included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global surgical robots market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on global surgical robots market 2017 - 2021 ($ million)

4.2 Application Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

4.3 End-user Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

6.1 Market segments

Exhibit 30: Chart on Application - Market share 2022-2027 (%)
Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

6.2 Comparison by Application

Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application

6.3 General and laparoscopy surgery - Market size and forecast 2022-2027

Exhibit 34: Chart on General and laparoscopy surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on General and laparoscopy surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on General and laparoscopy surgery - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on General and laparoscopy surgery - Year-over-year growth 2022-2027 (%)

6.4 Gynecological surgery - Market size and forecast 2022-2027

Exhibit 38: Chart on Gynecological surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Gynecological surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Gynecological surgery - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Gynecological surgery - Year-over-year growth 2022-2027 (%)

6.5 Orthopedic surgery - Market size and forecast 2022-2027

Exhibit 42: Chart on Orthopedic surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Orthopedic surgery - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Orthopedic surgery - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Orthopedic surgery - Year-over-year growth 2022-2027 (%)

6.6 Neurosurgery - Market size and forecast 2022-2027

Exhibit 46: Chart on Neurosurgery - Market size and forecast 2022-2027 ($ million)
Exhibit 47: Data Table on Neurosurgery - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Chart on Neurosurgery - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Neurosurgery - Year-over-year growth 2022-2027 (%)

6.7 Urology and others - Market size and forecast 2022-2027

Exhibit 50: Chart on Urology and others - Market size and forecast 2022-2027 ($ million)
Exhibit 51: Data Table on Urology and others - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Chart on Urology and others - Year-over-year growth 2022-2027 (%)
Exhibit 53: Data Table on Urology and others - Year-over-year growth 2022-2027 (%)

6.8 Market opportunity by Application

Exhibit 54: Market opportunity by Application ($ million)
Exhibit 55: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by End-user

7.1 Market segments

Exhibit 56: Chart on End-user - Market share 2022-2027 (%)
Exhibit 57: Data Table on End-user - Market share 2022-2027 (%)

7.2 Comparison by End-user

Exhibit 58: Chart on Comparison by End-user
Exhibit 59: Data Table on Comparison by End-user

7.3 Hospitals - Market size and forecast 2022-2027

Exhibit 60: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
Exhibit 62: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
Exhibit 63: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

7.4 Ambulatory service centers - Market size and forecast 2022-2027

Exhibit 64: Chart on Ambulatory service centers - Market size and forecast 2022-2027 ($ million)
Exhibit 65: Data Table on Ambulatory service centers - Market size and forecast 2022-2027 ($ million)
Exhibit 66: Chart on Ambulatory service centers - Year-over-year growth 2022-2027 (%)
Exhibit 67: Data Table on Ambulatory service centers - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by End-user

Exhibit 68: Market opportunity by End-user ($ million)
Exhibit 69: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 71: Chart on Market share by geography 2022-2027 (%)
Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 73: Chart on Geographic comparison
Exhibit 74: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 Asia - Market size and forecast 2022-2027

Exhibit 83: Chart on Asia - Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on Asia - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on Asia - Year-over-year growth 2022-2027 (%)

9.6 Rest of World (ROW) - Market size and forecast 2022-2027

Exhibit 87: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

9.7 US - Market size and forecast 2022-2027

Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

9.8 UK - Market size and forecast 2022-2027

Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.9 Germany - Market size and forecast 2022-2027

Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.10 China - Market size and forecast 2022-2027

Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

9.11 Japan - Market size and forecast 2022-2027

Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.12 Market opportunity by geography

Exhibit 111: Market opportunity by geography ($ million)
Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 113: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Company Landscape

11.1 Overview

11.2 Company landscape

Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 115: Overview on factors of disruption

11.4 Industry risks

Exhibit 116: Impact of key risks on business

12 Company Analysis

12.1 Companies covered

Exhibit 117: Companies covered

12.2 Market positioning of companies

Exhibit 118: Matrix on company position and classification

12.3 Accuray Inc.

Exhibit 119: Accuray Inc. - Overview
Exhibit 120: Accuray Inc. - Product / Service
Exhibit 121: Accuray Inc. - Key news
Exhibit 122: Accuray Inc. - Key offerings

12.4 Asensus Surgical US Inc.

Exhibit 123: Asensus Surgical US Inc. - Overview
Exhibit 124: Asensus Surgical US Inc. - Product / Service
Exhibit 125: Asensus Surgical US Inc. - Key offerings

12.5 CMR Surgical Ltd.

Exhibit 126: CMR Surgical Ltd. - Overview
Exhibit 127: CMR Surgical Ltd. - Product / Service
Exhibit 128: CMR Surgical Ltd. - Key offerings

12.6 Intuitive Surgical Inc.

Exhibit 129: Intuitive Surgical Inc. - Overview
Exhibit 130: Intuitive Surgical Inc. - Product / Service
Exhibit 131: Intuitive Surgical Inc. - Key offerings

12.7 Johnson and Johnson Services Inc.

Exhibit 132: Johnson and Johnson Services Inc. - Overview
Exhibit 133: Johnson and Johnson Services Inc. - Business segments
Exhibit 134: Johnson and Johnson Services Inc. - Key news
Exhibit 135: Johnson and Johnson Services Inc. - Key offerings
Exhibit 136: Johnson and Johnson Services Inc. - Segment focus

12.8 Medtronic Plc

Exhibit 137: Medtronic Plc - Overview
Exhibit 138: Medtronic Plc - Business segments
Exhibit 139: Medtronic Plc - Key news
Exhibit 140: Medtronic Plc - Key offerings
Exhibit 141: Medtronic Plc - Segment focus

12.9 Neocis Inc.

Exhibit 142: Neocis Inc. - Overview
Exhibit 143: Neocis Inc. - Product / Service
Exhibit 144: Neocis Inc. - Key offerings

12.10 Novus International Inc.

Exhibit 145: Novus International Inc. - Overview
Exhibit 146: Novus International Inc. - Product / Service
Exhibit 147: Novus International Inc. - Key offerings

12.11 Renishaw Plc

Exhibit 148: Renishaw Plc - Overview
Exhibit 149: Renishaw Plc - Business segments
Exhibit 150: Renishaw Plc - Key offerings
Exhibit 151: Renishaw Plc - Segment focus

12.12 Siemens AG

Exhibit 152: Siemens AG - Overview
Exhibit 153: Siemens AG - Business segments
Exhibit 154: Siemens AG - Key news
Exhibit 155: Siemens AG - Key offerings
Exhibit 156: Siemens AG - Segment focus

12.13 Smith and Nephew plc

Exhibit 157: Smith and Nephew plc - Overview
Exhibit 158: Smith and Nephew plc - Business segments
Exhibit 159: Smith and Nephew plc - Key news
Exhibit 160: Smith and Nephew plc - Key offerings
Exhibit 161: Smith and Nephew plc - Segment focus

12.14 Stryker Corp.

Exhibit 162: Stryker Corp. - Overview
Exhibit 163: Stryker Corp. - Business segments
Exhibit 164: Stryker Corp. - Key news
Exhibit 165: Stryker Corp. - Key offerings
Exhibit 166: Stryker Corp. - Segment focus

12.15 Titan Medical Inc.

Exhibit 167: Titan Medical Inc. - Overview
Exhibit 168: Titan Medical Inc. - Product / Service
Exhibit 169: Titan Medical Inc. - Key offerings

12.16 United Orthopedic Corp.

Exhibit 170: United Orthopedic Corp. - Overview
Exhibit 171: United Orthopedic Corp. - Product / Service
Exhibit 172: United Orthopedic Corp. - Key offerings

12.17 Zimmer Biomet Holdings Inc.

Exhibit 173: Zimmer Biomet Holdings Inc. - Overview
Exhibit 174: Zimmer Biomet Holdings Inc. - Business segments
Exhibit 175: Zimmer Biomet Holdings Inc. - Key news
Exhibit 176: Zimmer Biomet Holdings Inc. - Key offerings
Exhibit 177: Zimmer Biomet Holdings Inc. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 178: Inclusions checklist
Exhibit 179: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 180: Currency conversion rates for US$

13.4 Research methodology

Exhibit 181: Research methodology
Exhibit 182: Validation techniques employed for market sizing
Exhibit 183: Information sources

13.5 List of abbreviations

Exhibit 184: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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