Dublin, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Surgical Robots Market by Product & Service (Instruments, Robotic Systems, Services), Application ( General Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End User (Hospitals, Ambulatory Surgery Center) - Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.
The global surgical robots market is projected to reach USD 18.4 billion by 2027 from an estimated USD 8.5 billion in 2022, at a CAGR of 16.6% during the forecast period.
Based on product & service, the robotic systems is expected to register the highest growth during the forecast period.
By product & service, the surgical robots market has been segmented into robotic systems, instruments & accessories, and services. The robotic systems segment is expected to register the highest growth during the forecast period. Factors such as the growing focus on adopting technologically advanced surgical robots and instruments among end users is propelling the growth of this segment.
Based on robotic systems, the orthopedic robotic system segment accounted for the second largest share of the market in 2021
By robotic systems, the surgical robots market has been segmented into laparoscopy robotic systems, orthopedic robotic systems, neurosurgical robotic systems, and other systems. In 2021, the orthopedic robotic system segment accounted for the second largest share of the surgical robot market. The increasing prevalence of obesity leading to rising demand for robotic orthopedic surgeries among hospitals and surgeons are supporting the growth of orthopedic robotic systems.
Based on application, the urological surgery segment accounted for the second largest share of the market in 2021
By application, the surgical robots market has been segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and other applications. In 2021, the urological surgery segment accounted for the second largest share of the surgical robot market.
The increasing number of robotic urological surgeries performed to treat conditions such as prostate cancer surgery, kidney disease/cancer surgery, bladder cancer surgery, and urinary obstruction surgery, and other urological applications are expected to increase the demand for surgical robots.
Based on end user, the hospitals & clinics segment is expected to register the highest growth during the forecast period
Based on end users, the market has been segmented into hospitals & clinics and ambulatory surgery centers. The hospitals & clinics segment is expected to register the highest growth during the forecast period. The increasing number of robotic assisted surgical procedures taking place in hospitals & clinics is expected to increase the adoption of surgical robots.
Europe accounted for the second largest share of the surgical robots market in 2021
In 2021, Europe accounted for the second largest share of the surgical robots market. The region's large share can be attributed to the growing prevalence of chronic diseases such as cancer, and urologic disorders, the rising adoption of surgical robots, and the growing volume of robot assisted surgeries performed.
Report Metrics
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value (USD) in 2021 | $6.4 Billion |
| Forecasted Market Value (USD) by 2026 | $14.4 Billion |
| Compound Annual Growth Rate | 17.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Advantages of Robotic-Assisted Surgery
- Technological Advancements
- Improving Reimbursement Scenario
- Increasing Adoption of Surgical Robots
- Increasing Funding for Medical Robot Research
Restraints
- High Cost of Robotic Systems
Opportunities
- Increasing Penetration of Surgical Robots in ASCs
- Growth Opportunities in Emerging Markets
Challenges
- Surgical Errors
Companies Mentioned
- Asensus Surgical Inc.
- Avateramedical GmbH
- Brainlab AG
- CMR Surgical
- Corin
- Distalmotion
- Ecential Robotics
- Globus Medical, Inc.
- Intuitive Surgical
- Johnson & Johnson
- Medicaroid Corporation
- Medtronic PLC
- Microsure
- Momentis Innovative Surgery Ltd.
- Monteris Medical
- Preceyes Bv
- Renishaw PLC
- Siemens Healthineers AG
- Smith & Nephew
- Stryker Corporation
- Sudhir Srivastava Innovations Pvt. Ltd.
- Think Surgical Inc.
- Tinavi Medical Technologies Co. Ltd.
- Titan Medical Inc.
- Zimmer Biomet
For more information about this report visit https://www.researchandmarkets.com/r/erou37-surgical?w=12
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