The surgical robotics market size is projected to reach US$ 28.54 billion by 2031 from US$ 10.25 billion in 2023. The market is expected to register a CAGR of 13.7% during 2023–2031. The incorporation of AI-based features in surgical robots is likely to bring new trends to the market in the coming years.
Surgical Robotics Market Analysis
The surging number of surgical procedures and the growing prevalence of chronic diseases are the factors favoring the surgical robotics market progress. A surge in government initiatives to promote the adoption of advanced medical devices and systems by healthcare providers and organizations is expected to fuel the market in the coming years. Further, product approvals accelerate the emergence of new technology in the market. In March 2024, Intuitive Surgical, Inc., a global pioneer of robotic-assisted surgery, received the US Food and Drug Administration (FDA) 510(k) clearance for da Vinci 5—the company’s next-generation multiport robotic system. Da Vinci 5’s design includes over 150 engineering enhancements. Thus, a growing number of product approvals attributable to favorable regulatory scenario in developed economies are anticipated to create lucrative opportunities for the surgical robotics market growth during the forecast period.
Surgical Robotics Market Overview
The surgical robots market players are focused on developing new products to grow their geographic reach and enhance capacities to cater to a greater than existing customer base with cutting-edge technology that meets evolving surgical needs. The integration of artificial intelligence in surgical robots helps provide real-time analysis, decision support, and predictive analysis. During surgeries, such robots can reduce human errors, identify critical areas, and optimize surgical planning. For instance, in May 2023, Smith+Nephew, the global medical technology company, introduced two key products for its robotics and digital surgery portfolio—Personalized Planning powered by AI and RI.INSIGHTS Data Visualization Platform. Advanced AI analytics platform integrated with the CORI Surgical System will offer personalization when performing joint replacement procedures. Similarly, in July 2024, Medtronic launched Touch Surgery Live Stream—an AI platform for robotic surgery. Touch Surgery Live Stream includes 14 new AI algorithms designed to enhance its digital capabilities within post-operative analysis. The algorithms deliver AI-powered surgical insights for laparoscopic and robotic-assisted surgery. Also, in August 2023, the Centre for Artificial Intelligence and Robotics (CAIR), a research center under the Chinese Academy of Sciences, completed three successful trials on MicroNeuro—which is fitted with a flexible endoscope and leverages AI and precision control to perform accurate and precise surgeries on brain tissue. Such developments will ensure surgical safety, reduce surgeon’s labor-intensive tasks, and enable unprecedented novel surgical treatments leading to improved surgical outcomes for patients. Therefore, the development of AI-based surgical robots is expected to bring new trends in the surgical robotics market in the coming years.
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Surgical Robotics Market: Strategic Insights
Market Size Value in US$ 10.25 Billion in 2023 Market Size Value by US$ 28.54 Billion by 2031 Growth rate CAGR of 13.7% from 2023 to 2031 Forecast Period 2024-2031 Historic Period 2021-2022
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Surgical Robotics Market: Strategic Insights
| Market Size Value in | US$ 10.25 Billion in 2023 |
| Market Size Value by | US$ 28.54 Billion by 2031 |
| Growth rate | CAGR of 13.7% from 2023 to 2031 |
| Forecast Period | 2024-2031 |
| Historic Period | 2021-2022 |
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Surgical Robotics Market Drivers and Opportunities
Growing Prevalence of Chronic Diseases Favors Surgical Robotics Market Growth
In the last 25 years, the incidence of chronic diseases has increased worldwide owing to lifestyle changes, which result in an increase in the number of surgeries. For instance, colorectal cancer is one of the most commonly found and lethal cancers developed in individuals due to the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer was identified as the third most common cancer and the second highest death-causing cancer, with ~1,926,425 global cases in 2022. Furthermore, the mortality and incidence rates of this cancer vary worldwide, and approximately 904,019 deaths in 2022 were associated with it. Colorectal cancer is the third most common type of cancer in men and the second most common cancer in women. Robotic surgery offers improved ergonomics and optics for the operating surgeon owing to the unique wristed instruments. For colorectal cancer, robotic-assisted surgeries allow precision, minimally invasive options, and better patient outcomes, making it a preferred surgery option for patients suffering from colorectal cancer. Therefore, the increasing incidences of colorectal cancer have resulted in the surging demand for surgical robots.
According to the 2021 National Health Statistics Reports from the Centers for Disease Control and Prevention, the incidence of obesity has reached 41.9% among adults and 19.7% among children and adolescents aged 2–19 years old. Further, it has been stated that severe obesity, corresponding to a body mass index (BMI) of 40 or higher, is present in 9.2% of adults in the US. Robotic surgery for obesity has advantages over conventional surgery owing to its 3D vision and precise, intuitive multi-range instruments that add more safety to the patients.
Thus, the rise in the prevalence of chronic conditions fuels the surgical robotics market growth.
Growing Number of Product Approvals and Launches to Create Market Opportunities
Product approvals accelerate the emergence of new technology in the market. In March 2024, Intuitive Surgical, Inc., a global pioneer of robotic-assisted surgery, received the US Food and Drug Administration (FDA) 510(k) clearance for da Vinci 5—the company’s next-generation multiport robotic system. Da Vinci 5’s design includes over 150 engineering enhancements. Similarly, in February 2024, Virtual Incision Corporation received the US Food and Drug Administration (FDA) marketing authorization for the MIRA Surgical System (MIRA), the world’s first miniaturized robotic-assisted surgery (miniRAS) device, for use in adults undergoing colectomy procedures. In addition, in October 2021, Medtronic plc received the CE mark for the Hugo robotic-assisted surgery (RAS) system, authorizing the system’s sale in Europe.
Recent Launches/Approvals of Surgical Robots
Month and Year | Company | Description |
June 2024 | SS Innovations | SS Innovations, the developer of India’s first indigenous surgical robotic system, launched SSI Mantra 3. The system is developed to improve surgical precision, efficiency, and patient outcomes. It features 5 slimmer robotic arms and an immersive 3D HD headset that provides surgeons with unmatched optics, as well as a vision cart that provides 3D 4K vision to the entire team for precision and control. |
June 2024 | Meril Life Sciences Pvt. Ltd. | Meril, an India-based medical devices company, has launched an indigenously developed surgical robotic technology—MISSO—which will assist doctors during knee replacement surgeries in real time. |
July 2022 | Siemens Healthineers AG | Siemens Healthineers has added CorPath GRX, the FDA-cleared and CE-marked robotic system, to its coronary and peripheral interventions portfolio in India. Such recent developments will contribute to the healthcare sector in India significantly. Cutting-edge technology has opened up new realms of business with advanced therapeutics by tapping adjacent growth markets with great potential for the coming years. |
June 2022 | Smith + Nephew | Smith+Nephew, the global medical technology company, announced that the first robotic-assisted surgery using the LEGION CONCELOC Cementless Total Knee System was performed by Dr. Cyna Khalily—an orthopedic surgeon specializing in hip and knee reconstructive surgery in Louisville, KY. |
April 2022 | SSI Innovations | In India, SS Innovations announced the price range of the SSI multi-arm revolutionary telerobotic assistance surgical system from US$ 0.54 million to US$ 0.68 million (INR 40–50 million). |
February 2022 | Smith + Nephew | Smith + Nephew launched a Next Generation Robotic System in Japan; the CORI surgical system is designed to enhance the surgical experience for high precision and best results in knee arthroplasty. |
January 2022 | Smith + Nephew | Smith+Nephew announced that it had expanded the indications on its Cori Surgical System to include total hip arthroplasty. According to the company, the new indication with RI.Hip Navigation might help maximize accuracy and reproducibility by providing patient-specific component alignment for PTH. |
Source: Press Release and Company Websites
Thus, a growing number of product approvals attributable to favorable regulatory scenarios in developed economies are anticipated to create lucrative opportunities for the surgical robotics market growth during the forecast period.
Surgical Robotics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the surgical robotics market analysis are type, application, material, and end user.
- Based on type, the surgical robotics market is segmented into instruments and accessories, robotic systems, and services. The instruments and accessories segment are further segmented into energy instruments, forceps, needle drivers, clip appliers, irrigators, and others. The robotic systems segment is subsegmented into laparoscopy robotic systems, orthopedic robotic systems, neurological robotic systems, and others. The instruments and accessories segment held the largest share of the market in 2023.
- By application, the market is segmented into general surgery, urological surgery, gynecological surgery, orthopedic surgery, cardiovascular surgery, thoracic surgery, neurosurgery, and others. The general surgery segment accounted for the largest share of the market in 2023.
- By material, the market is segmented into plastics, metal, and aluminum. The metal segment accounted for the largest share of the market in 2023.
- Based on end user, the surgical robotics market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment dominated the market in 2023.
Surgical Robotics Market Share Analysis by Geography
The geographic scope of the surgical robotics market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the market in 2023. The North America surgical robotics market has been analyzed on the basis of the US, Canada, and Mexico. The surgical robotics market in the US is expected to grow owing to a receiving approval of technologically advanced products in the market. For instance, in February 2024, Zimmer Biomet Holdings announced U.S. Food and Drug Administration (FDA) 510(k) clearance of the ROSA Shoulder System for robotic-assisted shoulder replacement surgery. Similarly, in June 2024, Moon Surgical, a French-American pioneer in surgical innovation, received clearance from the FDA for the commercial version of its unique Maestro surgical system. In addition, the presence of various market leaders operating in the US contributes notably to the expansion of the surgical robotics market size.
Surgical Robotics Market Report Scope
Surgical Robotics Market News and Recent Developments
The surgical robotics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A key development in the surgical robotics market is listed below:
- Johnson & Johnson MedTech announced that DePuy Synthes launched a proprietary dual-use robotics and standalone navigation platform developed in collaboration with eCential Robotics. The VELYS Active Robotic-Assisted System received 510(k) clearance from the US Food and Drug Administration (FDA) and is intended for use in planning and instrumenting spinal fusion procedures in the cervical, thoracolumbar, and sacroiliac spine. (Source: Johnson & Johnson, Company Website, August 2024)
Surgical Robotics Market Report Coverage and Deliverables
The "Surgical Robotics Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Surgical robotics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Surgical robotics market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Surgical robotics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the surgical robotics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
STERIS, Stryker, Medtronic, Renishaw, Johnson & Johnson, CMR Surgical, Smith & Nephew Plc, Zimmer Biomet, Intutive Surgical Inc, THINK Surgical Inc, Titan Medical Inc., Vicarious Surgical, Asensus Surgical Inc, Moon Surgical, Momentis Surgical, Virtual Incision, and EndoQuest Robotics Inc are among the key players operating in the market.
The surgical robotics market is anticipated to record a CAGR of 13.7% during 2023–2031.
The incorporation of AI-based features in surgical robots is expected to be a key trend in the surgical robotics market in the coming years.
The surgical robotics market value is estimated to reach US$ 28.54 billion by 2031.
The surging number of surgical procedures and the growing prevalence of chronic diseases are the noteworthy factors bolstering the market growth.
North America dominated the market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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