Surgical Robotics by Market Growth, Demand and Technology Advancement in Healthcare 2021 – Renishaw plc, Kuka Ag, Mazor Robotics, Zimmer Biomet Holdings Inc.

The Global Surgical Robotics Market size was valued at USD 66.02 billion in 2019 and is predicted to reach USD 119.67 billion by 2030 with a CAGR of 7.4% from 2020-2030.

Surgical Robotics lead to minimally invasive procedures with high precision, minimal incision, reduced blood loss, lesser pain, and quicker healing time, as compared to traditional surgical procedures. In robotically assisted surgeries, the surgeon controls overall surgical procedure by manipulating the self-powered, computer aided robot, that comprises of miniature surgical instruments mounted on its robotic arms.

Surgical robots are commonly used in minimally invasive surgery, remote surgery, and unmanned surgery. The increasing commercialization of surgical robots consequently propagates the growth of global surgical robotics market.

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Competitive Landscape

The surgical robotics market, which is highly competitive, consists of various market players that include Medtronic plc, Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Intuitive Surgical, Inc., Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Stryker Corporation (MAKO Surgical Corp.), Renishaw plc, KUKA AG, Mazor Robotics, Zimmer Biomet Holdings Inc. and THINK Surgical Inc. among others.

Increasing number of approvals by Food and Drug Administration for cutting-edge surgical robotics technologies presented by market players, along with strategies employed by key players such as acquisition, collaboration and capacity expansion in order to gain stronger market position, is leading the global surgical robotics market to new heights.

For instance, in February 2019, Auris Surgical Robotics, Inc., one of the major players in the global surgical robotics market, was acquired by Johnson & Johnson in 3.5 billion USD, with the strategy to reinforce and expand J&J’s surgical robotics program.

In November 2019, Stryker Corporation one of the major players in the global surgical robotics market, announced that it has received FDA approval for its ‘SAHARA Lateral’ the first-ever 3D expandable interbody system that features lamellar 3D titanium technology, allowing surgeons in achieving up-to 30 degrees of sagittal spinal correction in skeletally mature patients.

In February 2020, THINK Surgical, Inc. one of the major players in the global surgical robotics market announced that INOV8 Surgical is the first-ever healthcare facility to acquire its ‘ TSolution One active robot system,’ for total knee replacement surgical procedures, since this technology received FDA approval in the US. The robotic system comprises of two explicit innovations assisting total joint replacement surgeries that are TPLAN-a 3D pre-surgical planning workstation, and TCAT, the active robot.

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Market Segmentations and Scope of the Study:

The global surgical robotics market share has been analyzed based on component, surgery type and geography.

Based on component, the market is segmented into systems, services, and accessories. Based on surgery type, the market is divided into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising Europe, North America, Asia-Pacific, and RoW.

Geographical Analysis

North America region dominated the global surgical robotics market in the past, and is expected to maintain this trend throughout the forecast period, accounting for the major market share. This is attributed to higher investments by regulatory bodies to adopt advanced surgical robotics systems, well-established healthcare infrastructures with technologically advanced healthcare amenities, and presence of key market players in this region.

Asia Pacific region is expected to demonstrate a substantial growth in the global surgical robotics market, growing with the highest CAGR values throughout the forecast period. This is due to increase in medical tourism, favorable reimbursement policies, and untapped market opportunities offered by the emerging economies present in this region.

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