Surgical Robots Market Size To Reach $7.42 Billion By 2030

Surgical Robots Market Growth & Trends

The global surgical robots market size is expected to reach USD 7.42 billion by 2030 and is expected to grow at a CAGR of 9.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Surgical robotic systems are equipped with high-definition cameras and robotic arms, allowing surgeons to perform complicated procedures with enhanced accuracy. The market has grown substantially due to rising demand for minimally invasive surgeries, need for improved surgical outcomes, and continuous evolution of robotic technology. As the healthcare landscape embraces innovation, surgical robots are increasingly becoming a vital tool, revolutionizing surgical approaches and contributing to better patient care.

Moreover, increasing penetration of international players in various regions is expected to boost market growth. COVID-19 outbreak significantly influenced the uptake and integration of surgical robots. Supply chain disruptions and extensive lockdowns across key nations had a notable impact on market growth. An overall decline in surgical procedure volumes due to the pandemic and stringent regulations contributed to the downturn in 2020. As circumstances move closer to pre-pandemic norms, the market is poised for substantial growth.

In addition, collaborative efforts between governments, hospitals, and medical device companies create a favorable environment for product adoption, propelling market growth. For instance, in August 2023, The CK Birla Group partnered with 'Intuitive India' to introduce their Da Vinci Surgical Robot. This collaboration encompasses extensive technology training and assistance from Intuitive India, focusing on enhancing skills of senior surgeons at hospitals. In April 2023, during a symposium on Robotic Colorectal Cancer hosted by the Association of Colon and Rectal Surgeons of India, Apollo Cancer Centers introduced the latest fourth generation Da Vinci Xi Robotic System.

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Surgical Robots Market Report Highlights

• Based on application, others segment accounted for a revenue share of 44.6% in 2023 due to increased usage of advanced automated instruments in cancer and high demand for minimally invasive laparoscopic surgeries

• Based on end-use, inpatient facilities segment held the largest revenue share of 53.21% in 2023 due to high financial resources and patient volume to justify the investment in costly surgical robotic systems

• North America accounted for the largest revenue share of 49.9% in 2023, owing to the strong presence of international players, a lineup of several U.S. FDA clearance products, ongoing robotics developments, and demand for minimally invasive surgeries to reduce the post-operative period

Surgical Robots Market Segmentation

Grand View Research has segmented the global surgical robots market based on application, end-use, and region:

Surgical Robots Application Outlook (Revenue, USD Million, 2018 - 2030)

• Orthopedics

  • Knee

  • Hip

  • Spine

  • Others

• Neurology

• Urology

• Gynecology

• Others

Surgical Robots End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Inpatient

• Outpatient

Surgical Robots Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Italy

  • France

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Surgical Robots Market

• Intuitive Surgical

• Medrobotics Corporation

• Medtronic

• Renishaw plc

• Smith and Nephew

• Stryker Corporation

• THINK Surgical, Inc.

• TransEnterix (Asensus Surgical, Inc.)

• Zimmer Biomet Holdings, Inc.