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Global Robotic Surgical Procedures Market Growth, Size, Share, Forecast: By Application: General Surgery, Gynaecology, Urology, Orthopaedics, Others; By End User: Hospitals, Ambulatory Surgery Centres; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Model, Key Demand Indicators; Supplier Landscape; 2024-2032
Global Robotic Surgical Procedures Market Outlook
The value of the global robotic surgical procedures market was USD 6.96 billion in 2023, driven by the increasing adoption of minimally invasive surgical procedures across the globe. The market is expected to grow at a CAGR of 18.7% during the forecast period of 2024-2032 to reach value of USD 32.54 billion by 2032.
Key Trends in the Market
Robotic surgical procedures, also known as robot-assisted surgical procedures, are the process of carrying out a surgery using a robotic surgical system. Robotic components are capable of performing a variety of surgical procedures with greater efficiency, precision, and control, in less time, which are usually not possible using conventional surgical techniques.
- The global robotic surgical procedures market is being driven by the rapid transition from traditional manual surgical methods towards automated surgical procedures. Rapid digitalisation across the healthcare sector to achieve greater operational efficiency in healthcare units is further bolstering the application of robotic surgical procedures in hospitals.
- Robot assisted surgical procedures offer significant advantages such as shorter duration of hospitalisation, fewer scars, lesser pain, and faster recovery which allows patients to return to their daily routine sooner. In this regard, the increasing awareness about the benefits of robotic surgical procedures are accelerating the growth of the market for robotic surgical procedures.
- Advancements, upgradations, and innovations by the major med-tech companies is a crucial driving trend of the market. Cameras with greater resolutions and self-powered computing devices are some of the critical innovations which are expected to be witnessed in the coming years.
- The penetration of artificial intelligence (AI) and machine learning (ML) is likely to improve the precision and accuracy of robotic surgical procedures which will further boost the reliability of the surgeries, thereby, escalating the growth of the robotic surgical procedures market.
Market Analysis
Based on application, the market can be segmented into general surgery, gynaecology, urology, and orthopaedics, among others. The orthopaedics segment can further be divided based on orthopaedics type into knee, hip, and spine, among others. On the basis of end-user, the market can be classified into hospitals and ambulatory surgery centres. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global robotic surgical procedures market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Intuitive Surgical
- Stryker
- Smith & Nephew
- Accuray Incorporated
- CMR Surgical Ltd.
- Medtronic
- Others
Market Share by Application
The urological segment, based on application, accounts for a significant share in the robotic surgical procedures market. Robotic surgical procedures are witnessing heightened applications for various urological conditions including removal of prostate and reconstruction of urinary tract, among others. Over the forecast period, the anticipated increase in the population of geriatrics is expected to increase the demand for robots in urological surgical processes.
Meanwhile, the general surgery segment is likely to witness a steady growth in the forecast period, as the robotic components make the surgical process less invasive, thereby, leading to lower risk of complications. This advantage offered by the product is bolstering the awareness among patients, thereby, propelling the growth of the market for robotic surgical procedures.
Market Share by Region
Based on region, North America holds a decent share in the market, which is being driven by the favourable reimbursement policies of the governments across strong economies such as the United States. The technologically advanced healthcare infrastructure in the region is further improving the incorporation of robots in healthcare units, further adding to the robotic surgical procedures market growth. The growing cases of chronic cardiovascular diseases induced by the increase obese population are further expanding the scope of market.
Meanwhile, Asia Pacific is expected to witness a heathy growth in the forecast period due to the rising healthcare expenditure, coupled with the digital initiatives being taken by the governments of emerging economies such as India and China.
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Competitive Landscape
Intuitive Surgical is an America medication company which was founded in 1995 and is currently headquartered in California. The company has been focussing on minimally invasive medical treatment procedures along with end-to-end learning procedures. The company has an employee base of more than 9,000.
Stryker is one of the leading med-tech companies around the world and offers products aimed towards catering to the demands related to orthopaedics, surgical, and neurotechnological, applications among others. Stryker was founded in the year 1941 and is headquartered in Michigan, United States.
Smith & Nephew is a renowned medical manufacturing company which was founded in 1856. It currently operates in Kingston upon Hull, United Kingdom. This medical technology company caters to the demand of healthcare units across 100 countries. Smith & Nephew is dedicated towards research and development aimed towards progressive product launches.
Other market players include Accuray Incorporated, CMR Surgical Ltd., and Medtronic, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Robotic Surgical Procedures Market Overview
3.1 Global Robotic Surgical Procedures Market Historical Value (2017-2023)
3.2 Global Robotic Surgical Procedures Market Forecast Value (2024-2032)
4 Global Robotic Surgical Procedures Market Landscape
4.1 Global Robotic Surgical Procedures Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Robotic Surgical Procedures Product Landscape
4.2.1 Analysis by Applications
4.2.2 Analysis by End User
5 Global Robotic Surgical Procedures Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Robotic Surgical Procedures Market Segmentation
6.1 Global Robotic Surgical Procedures Market by Application
6.1.1 Market Overview
6.1.2 General Surgery
6.1.3 Gynaecology
6.1.4 Urology
6.1.5 Orthopaedics
6.1.5.1 Knee
6.1.5.2 Hip
6.1.5.3 Spine
6.1.5.4 Others
6.1.6 Others
6.2 Global Robotic Surgical Procedures Market by End User
6.2.1 Market Overview
6.2.2 Hospitals
6.2.3 Ambulatory Surgery Centres
6.3 Global Robotic Surgical Procedures Market by Region
6.3.1 Market Overview
6.3.2 North America
6.3.3 Europe
6.3.4 Asia Pacific
6.3.5 Latin America
6.3.6 Middle East and Africa
7 North America Robotic Surgical Procedures Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Robotic Surgical Procedures Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Robotic Surgical Procedures Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Robotic Surgical Procedures Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Robotic Surgical Procedures Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Intuitive Surgical
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Stryker
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Smith & Nephew
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Accuray Incorporated
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 CMR Surgical Ltd.
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Medtronic
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Johnson & Johnson Services, Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Zimmer Biomet
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 avateramedical GmbH
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
18 Global Robotic Surgical Procedures Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The global market for robotic surgical procedures reached a value of more than USD 6.96 billion in 2023.
The market is estimated to grow at a CAGR of 18.7% in the forecast period of between 2024 and 2032.
The rapid transition from traditional manual surgical methods towards automated surgical procedures, upgradations and innovations by the major med-tech companies, and increasing inclination towards minimally invasive treatment procedures, are the key drivers of the robotic surgical procedures market.
The key trends in the market include the favourable digital initiatives by the emerging economies and increasing prevalence of chronic diseases requiring surgery.
Coronary artery bypass, removal of cancerous tissue, hip replacement surgery, and kidney removal, among others, are some of the common robotic surgical procedures.
Most of the robotic surgical procedures take around two to three hours.
Typically, one night hospital stay is enough after a robotic surgical procedure.
Yes, robotic surgical procedure is considered safer than the regular surgery, because of high precision and lower invasion.
Surgeons prefer robotic surgical procedures due to greater precision, higher accuracy, better control during operation, and lower hospitalisation time.
Intuitive Surgical, Stryker, Smith & Nephew, Accuray Incorporated, CMR Surgical Ltd., and Medtronic, among others, are the key market players, according to the report.
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