The global surgical robots market size was valued at USD 2.01 billion in 2018 and is anticipated to grow at a CAGR of 22.3%over the forecast period. Key factors attributing to the growth include increasing adoption of minimal invasive surgeries among patients owing to its added benefits such as need for shorter hospital stays by patients, compared to traditional surgery, introduction of flexible and cost-effective surgical robots by new manufacturers, and their increasing approvals for new medical conditions.
Other factors aiding the market growth are increasing number of approvals granted by the FDA to surgical robotic companies for R&D in image-guided robotic surgery and robotic automation. Moreover, the increasing number of surgical robotic systems and rising adoption of robot assisted hysterectomies and other surgical interventions are further contributing to this growth. Improvement in healthcare infrastructure and the introduction of advanced medical systems is also expected to facilitate system implementation in developed countries.
Surgical robots have witnessing a paradigm change in the last few years due to technological advancements in the areas of 3D-imaging, high definition microscopic cameras, data recorders data analytic systems, motion sensors, remote navigation systems, robotic controlled catheters and other accessories useful for surgeries. This is to develop new applications for existing platforms and as well as create disruptive technologies which will drive the future market. The industry is witnessing a growing trend of robotic companies collaborating on technology platforms with third party vendors to develop new surgical applications.
Despite, gaining wide popularity, surgical robots share the same risks as those associated with traditional open surgeries such as the potential of infection and cardiopulmonary risks of anesthesia. Also, mechanical failures while on-going surgery is an added risk. This is likely to prevent people from resorting to robot assisted surgeries.
On the basis of application, the surgical robots market is classified into orthopedics, neurology, urology, gynecology, and others. The others segment includes oral surgeries, thoracic surgeries, and general laparoscopic surgeries. The other application segment dominated the market in 2018, with a revenue of USD 748.5 million, and is also expected to grow at the fastest rate over the forecast period. This is owing to a large number of general laparoscopic surgeries being conducted and increasing number of medical approvals for treatment of new medical conditions.
The orthopedics segment is also expected to grow at a lucrative rate over the forecast period. Surgical robots are being used in total hip replacement, hip arthroscopy, and shoulder arthroscopy, placement of pedicle screws, trauma and general orthopedics as assists in providing better accuracy and precision to surgeons, thus eliminating human error.
Stryker Corp., has introduced many surgical robots in the orthopedic space, after its acquisition of MAKO Surgical Corp. The company has introduced 650 Mako robots that have been used in nearly 76,900 knee and hip replacement procedures in 2018. The company is also expected to increase its product offerings in 2019. This is further expected to increase the competition among the companies operating in the orthopedic space.
On the basis of region, the surgical robots market is segmented into North America, Europe, Asia Pacific, MEA, and Latin America. North America dominated the market in 2018, with a revenue of USD 1.03 billion and is expected to grow at a lucrative rate over the forecast period. Moreover, the region is also anticipated to be fastest growing market, with a CAGR of 24.1% over the forecast period.
Some major factors contributing to this growth are the increasing number of hospitals that are opting for robot-assisted surgeries, high healthcare spending by the U.S. government, and growing robotic investments in the region. As per the Robotic Industries Association, the robot sales in the U.S. have been growing continuously in applications such as surgeries, automotive, wearable devices and military.
According to the FDA, the use of robotics in the U.S. has increased from 25,000 per year in 2005 to 450,000 in 2012. Furthermore, according to the data published by National Cancer Institute it is estimated that in 2014, nearly 80% of prostatectomies were performed using robotics compared to only 1% of all prostatectomies in the year 2001. Increasing adoption of these technologically advanced robotic systems is expected to provide growth platform to this industry in the near future.
The surgical robots market is an oligopolistic market consisting of players such as Intuitive Surgical, Stryker Corporation, Medtronic, Smith & Nephew and others. Many companies in this market implement initiatives such as mergers and acquisitions, product developments, and geographic penetration to compete in the market. For instance, Medtronic acquired Mazor Robotics in December 2019 to enter the market. Moreover, the FDA approved Intuitive Surgical Inc.’s, Ion lung-biopsy system, designed for undergoing minimal invasive biopsies deep within the lungs in April 2019.
Report Attribute |
Details |
Market size value in 2020 |
USD 2.9 billion |
Revenue forecast in 2025 |
USD 8.24 billion |
Growth Rate |
CAGR of 22.3% from 2019 to 2025 |
Base year for estimation |
2018 |
Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2019 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Application, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; Germany; UK; Japan; China; Mexico; Brazil; South Africa |
Key companies profiled |
Intuitive Surgical; Stryker Corporation; Medtronic; Smith & Nephew; Others. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at country level and provides an analysis on industry trends in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global surgical robots market report on the basis of application and regional segments:
Application Outlook (Revenue, USD Million, 2014 - 2025)
Orthopedics
Neurology
Urology
Gynecology
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
Latin America
Mexico
Brazil
MEA
South Africa
b. The global surgical robots market size was estimated at USD 2.4 billion in 2019 and is expected to reach USD 2.9 billion in 2020.
b. The global surgical robots market is expected to grow at a compound annual growth rate of 22.3% from 2019 to 2025 to reach USD 8.2 billion by 2025.
b. North America dominated the surgical robots market with a share of 52.0% in 2019. This is attributable to the increasing number of hospitals that are opting for robot-assisted surgeries, high healthcare spending by the U.S. government, and growing robotic investments in the region.
b. Some key players operating in the surgical robots market include Intuitive Surgical; Stryker Corporation; Medtronic; Smith & Nephew and others.
b. Key factors that are driving the surgical robots market growth include increasing adoption of minimally invasive surgeries among patients owing to its added benefits such as the need for shorter hospital stays by patients, compared to traditional surgery, the introduction of flexible and cost-effective surgical robots by new manufacturers.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.