Surgical robots are robotic systems used to enhance a surgeon’s skills, precision and control during complex surgical procedures. These robots allow surgeons to perform minimally invasive surgery with greater dexterity and precision than is possible with conventional techniques. With expanding applications in a variety of surgical fields, including gynecology, urology, orthopedics, general surgery and neurosurgery, surgical robots are being widely adopted by medical institutions. The Global Surgical Robots Market Size is estimated to be valued at US$ 1177.3 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Advancement in miniaturization technology is one of the key drivers propelling growth of the surgical robots market. Miniaturization refers to miniaturizing the instruments, optics, articulation of arms and wrists to make surgical robots more compact, dexterous, versatile, and effective. With ongoing efforts by robotics companies to miniaturize surgical robots, these systems are becoming easier to use in smaller and more difficult to access anatomical sites. Miniaturization allows for less-invasive procedures, shorter recovery times for patients, and enables new surgical techniques.
Another major driver fueling demand for surgical robots is their ability to provide surgeons with better control and dexterity compared to traditional laparoscopic methods. Robotic systems allow surgeons to manipulate surgical instruments with greater precision, flexibility and control through small incisions. This improves outcomes for patients by enabling more precise dissection and reconstruction deep inside the body. It also helps reduce risks of accidental injuries to surrounding tissues and blood vessels.
Segment Analysis
The surgical robots market is dominated by the general surgery segment. General surgery accounts for over 35% of the market owing to the wide array of robotic assisted general surgical procedures across areas such as gynecology, urology, thoracic and head & neck surgeries. Robotic assisted general surgeries are minimally invasive and offer benefits like reduced blood loss, lesser pain and quicker recovery time for patients.
PEST Analysis
Political: Governments across regions are promoting surgical robotics through favorable regulations and reimbursement policies to increase robot assisted surgeries.
Economic: Rising healthcare spending coupled with growing demand for minimally invasive surgeries is positively impacting market revenues.
Social: Increasing preference for advanced treatment options and technologically assisted procedures is driving adoption of surgical robots.
Technological: Continuous innovations in robotics platforms with enhanced capabilities for complex surgeries is expanding applications and clinical uses.
Key Takeaways
The global surgical robots market is expected to witness high growth. The global surgical robots market is estimated to be valued at US$ 1177.3 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
North America is the largest as well as the fastest growing regional market for surgical robots due to rapid technological adoption and ongoing robot system enhancements. The Asia Pacific market is poised to grow at a significant rate during the forecast period on back of increasing medical tourism, rising healthcare expenditure and expanding application areas of robotic surgery.
Key players operating in the surgical robots market are Merck & Co., Inc., Ferring Pharmaceuticals, Inc., EMD Serono, Inc., Pfizer Inc., Novartis AG. Key players operating in the surgical robots market are Merck & Co., Inc., Ferring Pharmaceuticals, Inc., EMD Serono, Inc., Pfizer Inc., Novartis AG.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
