Surgical Robots Market Size, Share, Growth, Trends, and Forecast, 2019 – 2030

Robotic Arms Drive Adoption of Surgical Robots

Growing demand for minimally invasive surgeries has triggered the adoption of surgical robots. Equipment manufacturers are tapping into opportunities in robotic arms, systems, and devices to capitalize on the trend. As such, the systems component segment of the surgical robots market is expected to reach a value of ~US$ 4.1 Bn by the end of 2022.

Healthcare providers are increasingly benefitting from the introduction of novel surgical robots, since these machines are gaining clinical approval for challenging surgical operations. According to a survey conducted by the IEEE – an association for electronic engineering, surgical robots are gaining increased acceptance by millennial parents in Asian countries, as compared to the individuals in the U.S. and the U.K. This trend is well justified, since Asia Pacific is projected for aggressive growth during the forecast period.

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Manufacturers are collaborating with technologists to improve the efficacy of robots that contribute toward better patient outcomes. Companies are increasing their efficacy in AI and machine learning to make surgical robots a mainstream technique in operating rooms worldwide.

The global surgical robots market is expected to reach a value of ~US$ 13.1 Bn by 2030

FDA-approved Surgical Robots Gain Prominence in Gynecological Surgeries

The surgical robots market is witnessing change with the introduction of AI in operating rooms. As such, surgical robots are anticipated to gain increased prominence in ambulatory surgical centers in the coming years. Operational accuracy of surgical robots is proving productive in gynecological, general, and orthopedic surgeries. Moreover, the gynecological surgery application segment of the surgical robots market is anticipated to reach a value of ~US$ 4.9 Bn by 2027.

Companies are leveraging opportunities in orthopedic and neurosurgical operations, since these sectors are predicted for exponential growth during the forecast period. This trend is leveraged with AI to gain FDA and CE clearance for novel surgical robots. For instance, in January 2019, Intuitive Surgical – a U.S. leader in robotic products, announced its fourth quarter earnings for the FDA-approved da Vinci surgical systems that are gaining increased acceptance in the U.S. healthcare industry landscape.

Apart from the U.S., manufacturers are meeting the needs of healthcare providers for urological procedures.

Companies Overcome Limitations of Haptic Feedback Using Cutting-edge Sensor Technology

Minimally invasive surgery is a modern technique that helps in executing complex surgical procedures with utmost precision. However, ambiguity associated with the haptic feedback of surgical robots acts as a barrier for its adoption by robot-assisted surgeons.

The surgical robots market is highly consolidated with only two major players accounting to ~90% of the total market share. This is another major challenge faced by emerging players who lack the budget, resources, and expertise to overcome the limitations of the haptic feedback associated with surgical robots.

In order to overcome these issues, companies in the surgical robots market are join forces with haptic sensor manufacturers to gain insights on accurate tissue and organ models. For instance, sensing and test-measurement solutions provider Futek manufactures haptic sensors to support surgical robotic platforms. Thus, emerging players are leveraging this opportunity to collaborate with haptic sensor manufacturers to gain competitive edge over leading players. Manufacturers are increasingly investing in R&D to address design challenges associated with haptic autoclavable sensors by collaborating with multidisciplinary engineering teams.

Improvements in 3D Visualization Technology Boosts Uptake of Robotic Systems

Successful outcomes associated with robotic-assisted surgeries are increasingly replacing conventional surgical procedures. Manufacturers in the surgical robots market are making improvements in 3D visualization to enhance quality of life in patients. Ongoing innovations cater to solutions that integrate the medical device technology with robotic systems to reduce trauma and offer rapid post-surgery healing.

Robotic-assisted surgeries are being increasingly adopted in the U.S. healthcare industry landscape, since the FDA has approved surgical robots for general laparoscopic surgeries. As minimally invasive surgeries are growing popular in globally, manufacturers in the surgical robots market are increasing research to augment high-resolution imaging and superior operative ergonomics in robotic systems.

Since several hospitals, especially in developing economies are restricted with limited budget spending, manufacturers are introducing low-cost surgical robots that eliminate the need for constant maintenance servicing.

Analysts’  Viewpoint

The surgical robots market is expected to expand at a significant CAGR of ~13% during the forecast period. Companies are eyeing high growth opportunities in Europe and Asia Pacific. Surgical robots are being equipped with AI and machine learning technologies for better outcomes.

However, overhead costs associated with advanced surgical robots such as installation, and service and training fees has slowed down the uptake of surgical robots, especially in budget-constrained hospitals of developing economies. Hence, manufacturers should introduce low-cost robotic systems that fit the budget of these hospitals. For instance, Johnson & Johnson – a U.S. multinational corporation has acquired a stake in Verb Surgical, – a California-based medical equipment manufacturer to develop low-cost robotic systems.

Surgical Robots Market: Overview

The global surgical robots market for the historical period 2017-2018 and forecast period 2019-2027, rise in the per-capita healthcare expenditure, increase in baby boomer and disabled populations, development in healthcare infrastructure in emerging markets, surge in rehabilitation success rate, and reduction in overall cost of healthcare services are anticipated to drive the global surgical robots market

According to the report, the surgical robots market was valued at ~US$ 4.2 Bn in 2018 and is projected to expand at a CAGR of ~13% from 2019 to 2027

Technological Advancements and Increase in Purchasing Power of Hospitals: Key Drivers

Rise in the disposable income of people in emerging economies is expected to enable them to avail better healthcare facilities. Hence, availability of better medical robots are likely to prompt healthcare service providers to make significant investments in advanced medical automation technologies in order to meet patient needs, improve operational efficiency, and save both service costs and time.

Rapid increase in adoption of medical robotic systems can be attributed to a blend of technological improvements, such as usage of more efficient motors, compact & light materials, power back-up, and sophisticated controls & safety mechanisms

Focus on Geographic Expansion

Companies in the global market are increasingly turning to in-licensing and collaboration agreements to launch new products in Asia Pacific. Rise in demand for technology-driven solutions, economic growth, surge in disposable income, and increase in awareness about robot-assisted minimal invasive surgeries present significant opportunities for players operating in the global market. Increase in healthcare awareness programs coupled with private wealth is expected to boost Asia Pacific’s healthcare spending by annual average of 6.5% during the forecast period.

For instance, in 2018, Intuitive Surgical, Inc. announced the direct operations in India, following seven years of doing business in the country through a distributor, Vattikuti Technologies Pvt. Ltd.

In August 2017, Titan Medical extended its agreement with Longtai Medical, Inc. to market, sell, and distribute Titan’s SPORT surgical system in Asia Pacific

High Cost of Medical Robots and Lack of Skilled Personnel to Hamper Global Market

The surgical robots market is technology driven. Introduction of new technologies in the market increases demand for these systems due to improved efficiency and outcomes. However, high pricing of these new devices raises the affordability issue, which limits market growth, especially in the developing regions. Moreover, lack of reimbursement affects demand for robotic systems.

Robotic surgery has been adopted by patients and doctors in the last decade. However, standardization in training for instrument handling and accreditation guidelines to ensure surgeon competence and patience safety is still lacking. Hence, during clinical practice, failure of robotic procedures have been observed, which results from surgeon’s inability.

There has been widespread implementation of robotic systems for minimal invasive surgery. However, a non-negligible number of complications and technical difficulties have still been observed.

Surgical Robots Market: Competition Landscape

This report profiles major players in the surgical robots market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The surgical robots market is highly consolidated, with presence of small number of players

Leading players in the surgical robots market include –

• Intuitive Surgical, Inc.
• Smith & Nephew plc
• Medtronic plc
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.
• TransEnterix Surgical, Inc.
• Verb Surgical, Inc. (joint venture between Johnson & Johnson and Google, Inc.)
• Medicaroid, Inc.
• TINAVI Medical
• Medrobotics Corp

Key Questions Answered in Surgical Robots Market Report

• What is the scope of growth of product companies in the surgical robots market?
• What will be the Y-o-Y growth of the surgical robots market between 2019 and 2027?
• What is the influence of changing trends in technologies on the surgical robots market?
• Will North America continue to remain the most profitable regional market for surgical robot providers?
• Which factors are anticipated to impede the growth of the surgical robots market during the forecast period?
• Which are the leading companies in the surgical robots market?

Surgical Robots Market – Segmentation

Component

• Systems
• Accessories & Consumables
• Services

Application

• Gynecological Surgery
• Urological Surgery
• Neurosurgery
• Orthopedic Surgery
• General Surgery
• Others

Method

• Minimally Invasive
• Open Surgery

End User

• Hospitals
• Ambulatory Surgical Centers

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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