Surgical Robots Market Forecast to Grow at 17.6% CAGR from 2024 to 2031 | SkyQuest Technology

Surgical Robots Market

The Surgical Robots Market exceeded USD 5.2 billion in 2023 and is anticipated to grow at a CAGR of 17.6% from 2024 to 2031.

The growing burden on the healthcare industry and the dearth of skilled surgeons around the world are projected to boost the demand for surgical robots over the coming years. Advancements in robotic technologies and growing investments in the development of novel surgical robots are also expected to create new opportunities for surgical robot companies in the future. 

Increasing acceptance of robotic surgeries and growing realization regarding the benefits of robotic surgeries are also estimated to favor sales of surgical robots across the study period. Surgical robot companies should explore the use of advanced technologies to create more accurate and effective surgical robots to maximize their business scope in the future. 

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Segmentation Analysis:

By Component Robot Systems, Instruments and Accessories

By Application Orthopedic Surgery, Neurosurgery, General Surgery, Gynecology Surgery, Urologic Surgery, Others

By End-user Hospitals, Ambulatory Surgical Centers (ASCs)

By Regions North America , Europe , Germany, Asia Pacific , Latin America

Developing Novel Surgical Robots with Advanced Technologies Remains the Top Priority for All Market PlayersThe global surgical robots’ market is highly opportune as digitization picks up pace in the global healthcare landscape. Surging investments in the development of novel healthcare automation solutions will create new opportunities for surgical robot providers. Integration of artificial intelligence and machine learning will also open new avenues of opportunities for surgical robot’s market players in the long run. Collaborations can help surgical robot providers reduce their R&D time and improve the potential of commercialization as well. Creating awareness regarding the perks of robotic surgeries and their high accuracy will also be crucial in boosting market growth going forward.  

• In June 2024, Think Surgical and Zimmer Biomet joined hands to exclusively distribute a knee surgery robot. The companies would build upon Think’s existing robotic device for knee surgery applications and customize it to make it more suitable for outpatient use. 
• In June 2024, the third generation of India’s surgical robotic system SSI Mantra 3 was launched by SS Innovations. The company backed this launch with the impressive feat of completing a human trial telesurgery, which was the first of its kind in India.
• A surgical robot for knee replacement surgeries to make them more affordable and accessible was launched in India in June 2024. Meril, a medical device company from India was behind the launch of this new indigenously developed robot and it also claimed that the robot has a 98% success rate in its operation.
• In February 2024, a miniature surgical robot designed by a robotics start-up called Virtual Incision performed simulated surgical operations at the International Space Station (ISS). The robot was remotely controlled by surgeons on Earth.  

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Key players:

• Corin Group (OMNILife Science, Inc.)
• Globus Medical Inc.
• Transenterix (Asensus Surgical, Inc.)
• Intuitive Surgical
• Smith and Nephew
• Siemens Healthlineers
• Renishaw Plc
• Johnson & Johnson
• Microsure
• Brainlab AG
• Medtronic (Mazor Robotics)
• Stryker
• Distalmotion
• THINK Surgical Inc.
• Zimmer Biomet

This report covers the following segments:

1. A. Component
2. Robot Systems
3. Instruments
4. Accessories
5. B. Application
6. Orthopedic Surgery
7. Neurosurgery
8. General Surgery
9. Gynecology Surgery
10. Urologic Surgery

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Utilizing advanced technologies and adding more autonomy to surgical robots will help surgical robot providers cement their place in the future of healthcare. Investing in the development of novel robots with advanced technologies will be highly crucial for almost all companies operating in the global surgical robots’ market. Collaborating with robotic technology providers could help surgical robot companies gain a competitive advantage over other market players in the long run.

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