Market Overview
Surgical Robots Market size is projected to record a CAGR of 17% to realize USD 13.7 Billion by 2027.
Market Dynamics
Robotic surgery enables doctors to have a superior perspective of the operating region by utilising high-definition cameras to illustrate minute components. These technologies have higher dexterity than the human hand; their 360-degree rotation and agility enable surgeons to reach previously inaccessible locations. These advantages of surgical robots, combined with the growing demand for more efficient healthcare services, are projected to propel the surgical robots market forward in the approaching years.
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Surgical robots help doctors to perform more precise difficult surgical procedures. They are primarily utilised in gynaecological, urological, orthopaedic, and general surgery, as well as in neurosurgery and other minimally invasive procedures. The advantages of robotic-assisted surgery, technological developments in surgical robots, increasing use of surgical robots, and increased financing for medical robot research all contribute to the market's growth. Globally, demand for minimally invasive surgeries (MIS) is increasing, owing to the numerous benefits associated with these operations, including smaller incisions, fewer cuts, reduced scarring, decreased discomfort, increased safety, shorter recovery times, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by improving precision, repeatability, control, and efficiency.
The COVID-19 pandemic has wreaked havoc on the global population and economy. Healthcare systems have been significantly strained by the pandemic. Throughout this time period, healthcare institutions and providers have been urged to suspend elective surgical procedures and medical tests in order to reduce the risk of transmission and conserve healthcare resources for COVID-19 patients. The pandemic has resulted in a temporary worldwide restriction on elective procedures, which has resulted in the cancellation of elective surgeries, resulting in a detrimental impact on the global economy.
Competitive Dynamics
The notable players of the market are Intuitive Surgical, Inc. (US), Stryker Corporation (US), Mazor Robotics (Israel), Hansen Medical (US), TransEnterix, Inc. (US), Medtech SA (France), Merck Co. & Inc (US), Verb Surgical Inc. (US), Smith & Nephew (UK), Renishaw PLC (UK), Medrobotics Corporation (US).
Segmental Analysis
The Surgical Robots Market is categorised according to product type, application, end user, and control mechanism.
The market is segmented according to product type into cardiac surgery, colorectal surgery, general surgery, gynecologic surgery, head and neck surgery, and urologic surgery.
The global surgical robot market is further categorised by application into robotic systems, services, and instrumentation and accessories.
Additionally, the market is categorised by control mechanism into direct telemanipulator and computer control.
The market is segmented by end user into hospitals and ambulatory surgical centres.
Regional Overview
The Americas is expected to account for the lion's share of the global surgical robots industry. The North American region is expected to dominate the market, owing to hospitals' increasing financial ability to invest in robotic systems, planned partnerships with other companies, growing patient acceptance of surgical robots in medical practises, which results in improved healthcare outcomes, and increasing general awareness about computer-assisted surgeries.
Europe is expected to account for the second-largest surgical robots market share throughout the projection period. The factors driving market growth in this area include the growing requirement for automation in the healthcare sector and the growing need for minimally invasive surgery and tiny robotics.
The Asia Pacific regional surgical robotics market is expected to grow at the quickest rate in the overall market, owing to a large patient population, an increasing number of hospitals, and rapid technological advancements that would promote the growth of the robotic surgery equipment market.
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