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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; Competitive Landscape; Industry Events and Developments; 2018-2028
Global Robotic Surgical Procedures Market Outlook
The global robotic surgical procedures market attained a value of more than USD 5.86 billion in 2022. The industry is expected to grow at a CAGR of 18.70% between 2023 and 2028, driven by development of critical technologies such as artificial intelligence and machine learning in robotics.
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.
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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Application |
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| Breakup by End-User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive 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
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Robotic Surgical Procedures Market Analysis
8.1 Key Industry Highlights
8.2 Global Robotic Surgical Procedures Historical Market (2018-2022)
8.3 Global Robotic Surgical Procedures Market Forecast (2023-2028)
8.4 Global Robotic Surgical Procedures Market by Application
8.4.1 General Surgery
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Gynaecology
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Urology
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Orthopaedics
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.4.4 Breakup by Orthopaedics Type
8.4.4.4.1 Knee
8.4.4.4.2 Hip
8.4.4.4.3 Spine
8.4.4.4.4 Others
8.4.5 Others
8.5 Global Robotic Surgical Procedures Market by End-User
8.5.1 Hospitals
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Ambulatory Surgery Centres
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Robotic Surgical Procedures Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Intuitive Surgical
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Stryker
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Smith & Nephew
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Accuray Incorporated
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 CMR Surgical Ltd.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Medtronic
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Robotic Surgical Procedures Market: Key Industry Highlights, 2017 and 2027
2. Global Robotic Surgical Procedures Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Robotic Surgical Procedures Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Robotic Surgical Procedures Historical Market: Breakup by End-User (USD Million), 2018-2022
5. Global Robotic Surgical Procedures Market Forecast: Breakup by End-User (USD Million), 2023-2028
6. Global Robotic Surgical Procedures Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Robotic Surgical Procedures Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Robotic Surgical Procedures Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Robotic Surgical Procedures Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Robotic Surgical Procedures Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Robotic Surgical Procedures Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Robotic Surgical Procedures Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Robotic Surgical Procedures Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Robotic Surgical Procedures Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Robotic Surgical Procedures Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Robotic Surgical Procedures Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Robotic Surgical Procedures Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Robotic Surgical Procedures Market Structure.
Key Questions Answered in the Report
The global market for robotic surgical procedures reached a value of more than USD 5.86 billion in 2022.
The market is estimated to grow at a CAGR of 18.70% in the forecast period of between 2022 and 2027.
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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