Surgical Robots Market Key Growth Drivers & Trends Forecast, 2029 | MarketsandMarkets Trademark

Global surgical robots market valued at $9.6B in 2023, $11.1B in 2024, and set to hit $23.7B by 2029, growing at 16.5% CAGR.
Surgical Robots market forecasted to transform from $11.1 billion in 2024 to $23.7 billion by 2029, driven by a CAGR of 16.5%. A surgical robot is a medical instrument designed to assist surgeons in performing the most challenging surgical procedures with utmost control, precision, and flexibility. The surgical robot setup comprises robotic arms with specialty surgical tools attached to the end, a camera system for improved visualization, and a control console operated by the surgeon.

The market for surgical robots [https://www.marketsandmarkets.com/Market-Reports/surgical-robots-market-256618532.html?utm_source=blog&utm_medium=submission&utm_campaign=off-page] is driven by reasons such as a lesser requirement for invasive procedures, increasing adoption of these machines in hospitals, and technological advancements. These robots disburse an increased level of control, precision, and flexibility as opposed to traditional methods. This translates to affirmative patient outcomes and lowers the recovery time. Chronic diseases and an aging population propel the market toward the development of more intricate solutions in surgeries. Large corporations continue with innovation, implementation of new systems, and an increase in the product portfolio, which aids in growing the market.

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Instruments & Accessories segment is expected to account for the largest share, by offering in the surgical robots market during the forecast period.

Instruments and Accessories being recurrent and essential for robotically assisted procedures, instruments and accessories capture the largest share of the surgical robots market. These include robotic arms, end-effectors, and specialty surgical tools that are routinely improved or replaced in service to maintain efficiency and safety requirements. With so many surgeries done with the aid of a robotic system, demand for tools and accessories is always needed; therefore, it continually provides great profit streams for manufacturers. Their leading market position is also partially due to the fact that there is an advancement in highly sophisticated procedure-specific tools, a requirement for sterilization, and single-use products.

General Surgery segment is expected to account for the largest share, by application in the surgical robots market during the forecast period.

General surgery accounted for the largest share of the surgical robots market because of its wide application area and growing usage of robotic systems for cholecystectomies and in hernia repairs, among many others. Enhanced accuracy and less invasion by the robots provide improved patient outcomes and reduced surgeon fatigue.

Hospitals & Clinics segment is expected to account for the largest share, by end user in the surgical robots market during the forecast period.

Hospitals and clinics still hold the largest market share of surgical robots because of their huge investments in the best medical technologies at their disposal to enhance care and surgeries. They are the primary centers of activity that cater to the most complex surgeries, many of which require an extended capability and accuracy offered by robotic systems. With increased accuracy, reduced complication rates, and faster recovery time, surgical robots are more aligned with the minimally invasive treatments that hospitals aim for to achieve patient satisfaction and operational efficiency.

North America accounted for the largest share of the surgical robots market.

North America dominates the share of the surgical robots market due to the presence of a well-established, advanced healthcare system and rapid adoption rate of advanced technologies, coupled with high R&D expenditure. It is home to key surgical robot manufacturers and highly experienced professionals, wherein a strong regulatory framework encourages the development of innovative technologies in medical science.

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Key Market Players:

The key players in the global surgical robots market are Intutive Surgical (US), Stryker (US), Medtronic (Ireland), Smith+Nephew (UK), Zimmer Biomet (US), Asensus Surgical (US), Siemens Healthineers (Germany), CMR Surgical (UK), Johnson & Johnson (US), Renishaw Plc (UK), Avateramedical GmbH (Germany), Brainlab AG (Germany), Think Surgical (US), Medicaroid Corporation (Japan), Globus Medical, Inc. (US), Corin Group (UK), Ecential Robotics (France), Titan Medical, Inc. (Canada), TINAVI Medical (China), Monteris (US), Microsure (Netherlands), Medical Microinstruments (US), Momentis Innovative Surgery (Israel), Distalmotion (Switzerland), Novus Arge (Turkey).

Intuitive Surgical

Intuitive Surgical is a prominent player known for its robotic-assisted surgical systems, including the da Vinci system, which was the first FDA-cleared robotic system for laparoscopic surgery in 2000. The da Vinci system is versatile, supporting procedures such as prostatectomy, hysterectomy, and hernia repair. The company's products are distributed through direct sales channels in the US and Europe.

Stryker Corporation

Stryker Corporation, a leading medical device company, operates across three main segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. It offers a wide range of products, including implants, surgical instruments, and navigation systems. The company entered the surgical robots market through its acquisition of MAKO Surgical in 2013. Stryker's surgical robots are part of its Orthopaedics and Spine segment. With 30 manufacturing facilities globally, Stryker maintains a strong presence in the US, Canada, Europe, Japan, and Latin America.

Medtronic Plc

Medtronic Plc ranks third in the surgical robots market. The company, formed after the 2015 acquisition of Covidien plc, provides a broad spectrum of medical devices across various segments, including Cardiovascular, Neuroscience, Medical Surgical, and Diabetes. The Surgical Innovations segment, part of its Medical Surgical division, includes surgical robots.

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