Surgical Robot Market Size Worth $9.02 Billion By 2032 | CAGR: 9.8%

The global surgical robot market size is expected to reach USD 9.02 billion by 2032 according to a new study by Polaris Market Research. The report “Surgical Robots Market Share, Size, Trends, Industry Analysis Report, By Application (General Surgery, Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, Others); By End-Use (Hospitals, Ambulatory Surgery Centers); By Product & Services; By Regions; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand for nominal invasive surgeries is the driving factor for the market growth of surgical robots. FDA has approved several key players operating in the segment for image-guided surgery and advanced R&D which is anticipated to boost the market growth over the forecast period. Advancement in data analytics, high-definition microscope, motion sensors, remote navigation, and 3D imaging has changed the market significantly with new business opportunities.

Robotics systems dominated the market in the year 2020, with a need for less invasive surgeries accounted for its several advantages including, lesser scarring, faster recovery, and precise operation. As the demand for lower price alternatives for robotics systems is increasing the instruments and accessories segment is expected to grow at a higher pace over the forecast period.

Ambulatory surgery centers (ASCs) were the market leader in the year 2020 for application of surgical robots, owing to cost-saving benefits associated with it, and has the potential to dominate the market with major medical facilities adopting ASCs for operations. Orthopedics surgery is expected to gain a larger market share over the forecast period owing to an increasing number of Knee surgeries among the old age population.

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North America dominated the market for surgical robots in the year 2020, owing to a large number of medical facilities shifting towards surgical robots over traditional surgery and increasing investment in the healthcare sector by the government.

Prominent players operating in the market for surgical robots are Medtronic, Stryker Corporation, Smith & Nephew, Zimmer Biomet, and Intuitive Surgical among others. One of the key market players in surgical robots industry, Stryker Corp acquired MAKO Surgical Corp. to gain a competitive advantage. TransEnterix achieved CE mark approval for the development of an intelligent surgical unit that has AI-based capabilities with machine vision.

Polaris Market research has segmented the Surgical robots market report on the basis of product and services, end-use industry, application, and region:

Surgical Robots, Product & Services Outlook (Revenue - USD Million, 2019-2032)

• Instruments & Accessories
• Robotic Systems
• Services

Surgical Robots, End-Use Outlook (Revenue - USD Million, 2019-2032)

• Hospitals
• Ambulatory Surgery Centers (ASCS)

Surgical Robots, Application Outlook (Revenue - USD Million, 2019-2032)

• General Surgery
• Gynecological Surgery
• Urological Surgery
• Neurosurgery
• Orthopedic Surgery
• Other Applications

Surgical Robots, By Regional Outlook (Revenue - USD Million, 2019-2032)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa