Surgical Robots Market Size Worth $17.64Bn by 2028 at 14.8% CAGR Led by Instruments & Accessories (USD 3.58Bn Market Share in 2021) Global Analysis by The Insight Partners

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Components (Instruments & Accessories, Robotic Systems, and Services), Application (Urological Surgery, Orthopedic Surgery, General Surgery, Gynecological Surgery, Cardiothoracic Surgery, Neurosurgery, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others)", the global surgical robots market size is projected to reach $17.64 Billion by 2028 from $6.83 Billion in 2021; it is expected to register a CAGR of 14.8% from 2022 to 2028.

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Surgical Robots Market Report Scope & Strategic Insights:

Global Surgical Robots Market: Competitive Landscape and Key Developments

Companies operating in the global surgical robots market implement various organic strategies that lead to dynamic improvements in the market. Various organic growth strategies, including product launch and development, propel the market growth. Several companies are implementing numerous inorganic strategies, such as collaborations, partnerships, and mergers and acquisitions.

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In April 2022, SS Innovations announced its SSI multi-arm revolutionary telerobotic assistance surgical system for US$ 0.54 to US$ 0.68 Million (INR 40–50 Million).

In June 2022, Stryker announced that its Q guidance system received 510 (k) approval from the U.S. Food and Drug Administration. When used with Spine Guidance software, the system is an advanced intraoperative planning and guiding system designed to enable open or percutaneous computerized surgery. Spine Guidance software is the first spine navigation software to be approved by the US FDA for use in pediatric patients 13 years of age and older.

Global Surgical Robots Market: Key Insights

The increasing advancements in surgical robots and the surging number of surgical procedures drive the surgical robots market growth. However, the high cost involved in installing and maintaining surgical robots hampers the global surgical robots market. The instruments and accessories to hold the largest share of the components segment in the global surgical robots market during 2022–2028 and is expected to be around $9.67 Billion by 2028 from the $3.58 Billion in 2021; it is estimated to grow at a CAGR of 15.5% during 2022–2028.

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Surgical Robots Market: Key Insights – Future Trends

The global surgical robots market players focus on launching new products to expand their geographic reach and enhance capacities to cater to a greater than existing customer base. For instance, in December 2020, Sysmex Corporation announced that they would launch the hinotori surgical robot system, a surgical robot unit, and the HF Series Instrument, a reusable active endotherapy device for medical institutions in Japan on December 04, 2020.

In October 2020, CMR Surgical announced the launch of its Versius Surgical Robotic System at Argenteuil Hospital, a leading public health center based near Paris, France. This announcement follows a competitive tender win for Versius, which has now been selected as a preferred surgical robotic system for minimal access surgery (MAS) by Resah, which is one of the largest public purchasing centers in the health sector, which collaborates with more than 700 public and private non-profit hospital, medico-social and social centers. The Argenteuil Hospital has acquired its Versius system to support a range of surgical procedures that may benefit significantly from being performed via robotic MAS. These include urological and gynecological surgery.

In July 2021, Smith + Nephew announced the launch of its Real Intelligence suite of enabling technology solutions, including its next-generation robotics platform, the CORI surgical system, in India. This CORI Surgical System is small, portable, and perfect for crowded operating rooms in Indian hospitals. It includes new camera technology that is over 4 times faster, offers more efficient cutting with twice the volume, and aims to deliver a faster robotic-assisted surgical procedure. The CORI System uses surgeon–controlled robotics, and its modular design will enable it to be scaled across the orthopedic service line.

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In 2021, New Delhi-based SS Innovations, promoted by the renowned robotic cardiothoracic surgeon Dr. Sudir P Srivastava, announced to launch India's first and world's cheapest general robotic surgery system within the next 4-6 months. The company is planning to manufacture 100 units of the multi-arm novel 'Mantra' Surgical Robotic System this year. The company has already invested around 300 crores and plans to invest another 1,000 crores to scale up the production. Moreover, according to a study conducted by CRM Surgical, it has been stated that around 6,000-6,500 robotic surgical systems have been globally installed in the last 2 decades. This is anticipated to surge in the upcoming forecast period, owing to the growing development and innovations in the medical device industry, leading to the growth of the overall global surgical robots market.

Global Surgical Robots Market: Segmental Overview

Based on end users, the global surgical robots market is segmented into hospitals, Ambulatory Surgical Centers (ASCs), and Others. In 2022, the hospital segment held the largest share of the market. However, the Ambulatory Surgical Centers (ASCs) segment is expected to register the highest CAGR from 2022 to 2028. The advent of Ambulatory Surgical Centers (ASCs) is increasing worldwide.

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Micro-Surgical Robot Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Instruments and Accessories), Application (Urology Surgery, Plastic Reconstructive Surgery, Ophthalmic Surgery, Neurosurgery, Lymphatic Surgery, ENT Surgery, and Others), and End User (Hospitals & Clinics, Ambulatory Surgical Centers, Research Institutes, and Others)

Medical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Surgical Robots, Hospital & Pharmacy Robots, Rehabilitation Robots, Non-Invasive Radiosurgery Robots, and Others), Application (Laparoscopy, Neurology, Orthopedics, Gynecology, Urology, Cardiology, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography

Surgical Robotics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component ( Accessories, Services ); Surgery Type ( Gynecology surgery, Urology surgery, Neurosurgery, Orthopedic surgery, General surgery, Other surgeries )

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Computer Assisted Surgical Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Surgical Navigation Systems, Surgical Robots, Surgical Planners and Stimulators); Application (Preoperative Planning And Stimulation, ENT Surgery, Cardiac Surgery, Colorectal Surgery, Navigation Methods, Surgical Robotic Systems, Spine Surgery, Craniofacial Surgery, Others) and Geography

Neurosurgery Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Systems, Accessories, Services); End User (Hospitals, Ambulatory surgical centers)

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Intelligent Surgical Robot Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component Type (System, Accessories); Application (Urology, Gynecology, Thoracic Surgery, General Surgery, Cardiac Surgery, Others); End User (Hospitals, Ambulatory Surgical Centers. Others) and Geography

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