Robotic Surgery Services Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Robotic Surgery Services Market: 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)) and Geography

 

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Report

Description

Robotic Surgery Services Market is estimated to be valued at USD 6,176.8 million in 2021 and is poised to grow at a significant CAGR of 17.5% over 2022-2028. Surgical robots are employed in minimally invasive operations because they allow for accurate manipulation of surgical tools in a limited operating environment. Robotic surgery, also known as robot-assisted surgery, enables healthcare professionals to execute various complicated procedures with more control, flexibility, and precision. Based on the end user, the market is segmented into hospitals and ambulatory surgical centers. Among these, the hospital segment accounts for holding the highest share in the forecasting period owing to rising healthcare costs in several economies. To increase the quality service of care and patient outcomes, hospitals are outfitted with modern surgical robots. Moreover, the market players are focusing on launching new products, collaborating, and acquiring. For instance, In November 2021 – Quirónsalud, one of the largest private hospital firms in Spain and a subsidiary of Fresenius Helios, agreed to acquire Clínica Clofán and Centro Oncológico de Antioquia (COA), strengthening the company’s position in Colombia. The growing aging population, at higher risk for prostate cancer, valvular disorders, endometriosis, and other diseases, coupled with Rising number of surgical procedures across the globe are the few factors driving the surgical robotic systems Market. Furthermore, the growing prevalence of degenerative bone diseases and the growing number of knee and hip replacement surgeries due to the rising cases of arthritis and osteoporosis are the significant factors expected to fuel the market growth.

 

Recent Market Developments:

In January 2021, Stryker, an American medical technology corporation, acquired OrthoSensor and its Verasense intraoperative sensor tech to enhance the ortho giant’s Mako robots.

In January 2021, The US-based TransEnterix received CE Mark approval for its Intelligent Surgical Unit that adds AI-based capabilities and enables machine vision capabilities on TransEnterix’s Senhance robotic surgery system.

January 2020, The American-based Sytrker Corporation received regulatory approval for the Mako robotic surgery system in Japan for partial knee indication.

Robotic Surgery Services Market

MARKET SUMMARY
-
17.5%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 17.5%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Robotic Surgery Services Market

  • The robotic surgery services market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The robotic surgery services market segmented based on product type, animal, and geography.
Key Players
  • Cooper Surgical (US),
  • Stryker Corporation (US)
  • Medtronic (Ireland)
  • Smith & Nephew (UK)
  • Zimmer Biomet (US)
Robotic Surgery Services Market Dynamics

The rising number of surgical operations due to increasing number of chronic diseases. The majority of these treatments include heart surgery, cataract surgery, orthopedic surgeries, and surgical interventions. According to the National Institutes of Health (NIH) and National Eye Institute, cataract cases in the United States are expected to reach roughly 38 million by 2028. Furthermore, nearly 3 million people get cataract surgery each year. Furthermore, surgical robots have been utilized in various surgeries for about 35 years, but the previous two decades have witnessed significant advancements in the sector.


North-America Got Significant Share

Robotic Surgery Services Market

North America's Robotic Surgery Services market will likely hold the highest revenue share in 2021. The same trend is expected over the forecast period due to a growing number of surgical operations using modern technologies. For example, the Canadian Institute for Health Information's (CIHI) Canadian Joint Replacement Registry (CJRR) reports that 63,496 hip replacements and 75,073 knee replacements were done in Canada in 2019-20. This aspect raises the market need for surgical robots. Furthermore, leading industry players are focused on creating effective and precise surgical robots, which would help to drive market expansion in North America.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The robotic surgery services market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Robotic Surgery Services Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The global surgical robots’ market is anticipated to reach USD 6,176.8 million in 2021

The advantage of robotic-assisted surgery, technical developments in surgical robots, and increased financing for medical robot research are driving growth in this industry.

The key players of the surgery robots’ market are Cooper Surgical (US), Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw (UK), Auris Health (US), Medrobotics Corporation (US)


Report

Company Profile

  • Cooper Surgical (US),
  • Stryker Corporation (US)
  • Medtronic (Ireland)
  • Smith & Nephew (UK)
  • Zimmer Biomet (US)
  • Asensus Surgical (Transenterix) (US)
  • Corindus Vascular Robotics (US)
  • Renishaw (UK)
  • Auris Health (US)
  • Medrobotics Corporation (US)

Description

Robotic Surgery Services Market is estimated to be valued at USD 6,176.8 million in 2021 and is poised to grow at a significant CAGR of 17.5% over 2022-2028. Surgical robots are employed in minimally invasive operations because they allow for accurate manipulation of surgical tools in a limited operating environment. Robotic surgery, also known as robot-assisted surgery, enables healthcare professionals to execute various complicated procedures with more control, flexibility, and precision. Based on the end user, the market is segmented into hospitals and ambulatory surgical centers. Among these, the hospital segment accounts for holding the highest share in the forecasting period owing to rising healthcare costs in several economies. To increase the quality service of care and patient outcomes, hospitals are outfitted with modern surgical robots. Moreover, the market players are focusing on launching new products, collaborating, and acquiring. For instance, In November 2021 – Quirónsalud, one of the largest private hospital firms in Spain and a subsidiary of Fresenius Helios, agreed to acquire Clínica Clofán and Centro Oncológico de Antioquia (COA), strengthening the company’s position in Colombia. The growing aging population, at higher risk for prostate cancer, valvular disorders, endometriosis, and other diseases, coupled with Rising number of surgical procedures across the globe are the few factors driving the surgical robotic systems Market. Furthermore, the growing prevalence of degenerative bone diseases and the growing number of knee and hip replacement surgeries due to the rising cases of arthritis and osteoporosis are the significant factors expected to fuel the market growth.

 

Recent Market Developments:

In January 2021, Stryker, an American medical technology corporation, acquired OrthoSensor and its Verasense intraoperative sensor tech to enhance the ortho giant’s Mako robots.

In January 2021, The US-based TransEnterix received CE Mark approval for its Intelligent Surgical Unit that adds AI-based capabilities and enables machine vision capabilities on TransEnterix’s Senhance robotic surgery system.

January 2020, The American-based Sytrker Corporation received regulatory approval for the Mako robotic surgery system in Japan for partial knee indication.

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