Surgical Robots Market Size Worth $18.2 Billion By 2030 | Grand View Research, Inc.


 

The global surgical robots market size is expected to reach USD 18.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 19.3% from 2022 to 2030. Growing adoption of automated minimally invasive surgery and increasing awareness to use robotic procedures due to the potential benefits provided by these surgeries are the factors positively contributing to the growth of the market. Moreover, the increasing penetration of international players in various geographies is expected to boost the market growth over the forecast years.

Further, technological advancements in medical procedures and the growing acceptance of automated surgical equipment in healthcare institutions are anticipated to accelerate the penetration of surgical robots over the years. The increasing prevalence of several cancers, tumors, and spine disorder conditions is also one of the pioneering factors expected to propel the acceptance and adoption of surgical robots, thereby fueling growth.

Based on application, the market is segmented into urology, orthopedics, neurology, gynecology, and others. The others segment comprises the robots that are used in oncology, laparoscopy, and various other surgeries. The others' segment dominated the market with a revenue share of over 30.0% in 2021. The segment growth is attributed mainly to the increasing usage of advanced automated instruments in cancer and tumor surgeries. In addition, successful outcomes from automated surgical procedures and shortage of surgeons and healthcare professionals are boosting the adoption and growth.

North America dominated the market with a revenue share of over 50.0% in 2021. This is mainly due to the increasing advancement of medical infrastructure and the presence of a large number of international players. Furthermore, increasing clinical adoption of advanced surgical equipment and rising demand for minimally invasive procedures are the other prominent factors responsible for the region.

In addition, the COVID-19 pandemic drastically impacted the penetration and adoption of surgical robots. Supply chain disruptions, along with lockdowns and shutdowns in major countries, substantially impacted the growth. In addition, reduction in overall surgical procedures during the pandemic and stringent regulations with respect to surgeries were some of the other factors that led to the de-growth of the market in 2020. However, with situations heading toward normalcy, the market is anticipated to grow at a significant rate during the forecast period.

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