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What Are the Projected Market Size and Growth Rates for the Surgical Robots Market From 2025 To 2029?
In recent years, we’ve seen a significant expansion in the size of the surgical robots market. Forecasts predict an increase from $7.87 billion in 2024 to $9.25 billion in 2025, maintaining a compound annual growth rate (CAGR) of 17.6%. The historical growth can be linked to the rising prevalence of chronic illnesses, an increasing elderly population, the need for high precision and accuracy, higher healthcare expenditures, along with a boost in procedures that involve robotic assistance.
What Is the Projected Market Size of the Surgical Robots Market?
In the coming years, the surgical robots market is projected to witness significant growth, expanding to a size of $18.05 billion by 2029 with a compound annual growth rate (CAGR) of 18.2%. Factors contributing to this growth during the forecasted period include a broadening range of indications for robotic surgery, rising acceptance in developing markets, a growing need for remote surgery solutions, a trend towards customization and personalization, and regulatory advantages. Key trends for the forecasted period include the integration of AI for accurate surgical procedures, the emergence of small sized surgical robots, advancements in telesurgery and remote surgery, an uptake in the utilization of robotics in non-invasive surgeries, and the incorporation of haptic feedback technology.
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Who are the Major Competitors in the Surgical Robots Market Outlook?
Major companies operating in the surgical robots market include Stryker Corporation, Medrobotics Corporation, Smith & Nephew plc, TransEnterix Inc., Renishaw plc, Intuitive Surgical Inc., Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Johnson & Johnson, Titan Medical Inc., Mazor Robotics Ltd., KUKA Aktiengesellschaft, Avatera Medical GmbH, Corindus Vascular Robotics Inc., MicroSure (Pty) Ltd, Asensus Surgical Inc., Siemens Healthcare GmbH, CMR Surgical Ltd., Auris Health Inc., Verb Surgical Inc., OMNIlife Science Inc., Vicarious Surgical Inc., Microbot Medical Inc., Virtual Incision Corporation, Memic Innovative Surgery Ltd., XACT Robotics Ltd., EndoMaster Pte. Ltd., MST Medical Surgery Technologies Ltd., Medtech SA
What Is Fueling Growth in the Surgical Robots Market?
The growth of the surgical robot market is projected to be driven by the rise in the elderly and surgical patient demographics. The development and application of surgical robots are significantly influenced by these expanding patient populations. Surgical robots, which are employed in minimally invasive procedures, help lessen patient trauma, reduce recovery duration, and mitigate complication incidences. These advantages are pivotal in reducing mortality and morbidity rates amongst older individuals. For instance, the World Health Organization (WHO), a Switzerland-based Intergovernmental organization, estimates that by 2030, one in every six individuals worldwide will be 60 years or older. The populace aged 60 years and above is projected to escalate from 1 billion in 2020 to 1.4 billion by 2030. By 2050, this figure will double, touching 2.1 billion globally. Additionally, the American Joint Replacement Registry’s 2022 Annual Report, published in November 2022, revealed that the number of hip and knee arthroplasty cases in the United States reached roughly 2.8 million in 2022, reflecting a 14% increase from 2021. As such, the escalation in elderly and surgical patient populations stimulates the surgical robot market’s expansion.
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Which Surgical Robots Market Segments Are Growing the Fastest?
The surgical robots market covered in this report is segmented –
1) By Component: Systems, Accessories, Services
2) By Surgery Type: Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Surgeries
3) By End-Users: Clinic, Hospital, Ambulatory Care Centers, Other End Users
Subsegments:
1) By Systems: Robotic Surgical Systems, Robotic Arm Systems, Tele-surgery Systems, Modular Robotic Systems
2) By Accessories: Surgical Instruments, Camera Systems, Console And Control Units, Power Supply Units
3) By Services: Installation And Training Services, Maintenance And Repair Services, Technical Support Services, Upgrades And Software Services
Which Industry Trends Are Shaping the Future of the Surgical Robots Market?
The surgical robot industry’s leading corporations are concentrating on creating innovative systems such as Versius by CMR Surgical, which utilizes distinctive attributes to boost the effectiveness of robotic-aided surgeries. Versius® was innovated by CMR Surgical as a modular surgical robot with the purpose of aiding surgeons in conducting minimally invasive surgeries in a variety of specialties. For example, CMR Surgical, a medical equipment manufacturer based in the UK, introduced the Versius® Surgical Robot in June 2023. This unveiling underscored the robot’s adaptability and superior abilities, with the goal of enhancing surgical results and expanding the use of robot-assisted surgeries in hospitals throughout the region.
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Which Countries Are Leading the Surgical Robots Market?
The countries covered in the surgical robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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This Report Delivers Insight On:
1. How big is the surgical robots market, and how is it changing globally?
2. Who are the major companies in the surgical robots market, and how are they performing?
3. What are the key opportunities and risks in the surgical robots market right now?
4. Which products or customer segments are growing the most in the surgical robots market?
5. What factors are helping or slowing down the growth of the surgical robots market?
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