The report ‘Global Surgical Robots Market by application (orthopaedics, neurology, urology, gynaecology, and other segments), and region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Global Forecast to 2030’. In 2020, the Global Surgical Robots had its market share valued at USD 4.42 billion. In 2030, the market is expected to be valued at USD 20.98 billion, with a 16.84% CAGR.
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Key Factors Augmenting the Market Growth
Some of the necessary factors that assist in driving the overall growth of the market globally are the advantages of robotic-assisted surgery, the high success rate of robotic-assisted surgery and minimum life-threatening complications due to robotic-assisted surgery.
The “general surgery’’ segment has the biggest market size by application, with over 30% in 2021.
The ‘general surgery’ segment had the largest surgical robots market share by application, at approximately 28.4% in 2021. Due to a steep rise in the usage of surgical robots for cancer treatments and increasing demand for minimally invasive laparoscopic surgeries, the general surgery segment has captured a large market share.
North America has the largest size of surgical robotics market by region, valuing around USD 3.27 billion in 2022.
The surgical robots market is divided geographically into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. Due to the large US surgical robotics market size, North America has the largest share of the surgical robotics market by region, valuing around USD 3.27 billion in 2022. The increasing availability of surgical robots, coupled with the growing number of injuries and diseases requiring surgery, is increasing in North America, which assists in driving the market growth. The European surgical robots market is valued at around USD 2.17 billion in 2022. The Asia-Pacific region will be the fastest-growing surgical robots market, with a CAGR of 23.32%.
Key Players Existing in the Market
The main competitors in the surgical robots market include Intuitive Surgical, Stryker Corporation, Medtronic, Smith & Nephew, Zimmer Biomet, Asensus Surgical (Transenterix), Corindus Vascular Robotics, Renishaw, Auris Health, Medrobotics Corporation, Think Surgical, Verb Surgical (part of Johnson and Johnson), OMNIlife Science, CMR Surgical, Preceyes BV, China National Scientific Instruments And Materials Corporation (CSIMC), Microsure, Titan Medical, avateramedical Gmbh and Medicaroid Corporation.
Recent Developments
In January 2021, Stryker announced its acquisition of OrthoSensor, Inc. Stryker believes that OrthoSensor’s acquisition would allow it to implement the Verasense intraoperative sensor technology to empower its Mako robots that would allow the surgeons in accessing to more comprehensive data-driven solutions.
In January 2021, TransEnterix announced the receiving of CE mark approval for its Intelligent Surgical Unit that enables machine vision capabilities on the Senhance Surgical System. This approval is expected to provide Senhance laparoscopic programs in Europe access to this new technology, propelling them to the forefront of surgical innovation through augmented intelligence.
In November 2020, Johnson & Johnson announced the launch of its and Google’s surgical robot, Ottava. Ottava has six arms for providing more control and flexibility in surgery. In contrast, the arms will be integrated with the operating table.
In September 2020, Stryker announced the installation of its 1000th Mako robot. Stryker believes this installation will help more patients obtain treatment for their total hip, knee, and partial knee problems.
In June 2019, CMR Surgical announced a partnership with LifeHealthcare to introduce its next-generation Surgical Robot System, Versius+, to Australia and New Zealand. This partnership will help CMR surgical robots to enter new markets while allowing Australian and New Zealander patients access to robot-assisted surgery.
In March 2019, Titan Medical announced its collaboration with Teleflex, Inc., for the development of robotic ligation technology. Titan Medical hopes that its collaboration with Teleflex will allow the expansion of its robotic investment portfolio for offering proven and market-leading technology in different surgical disciplines.