Next Generation Surgical Robotics Market Share Analysis Report, 2022-2030
The global Next Generation Surgical Robotics market size was estimated at USD 2.6 billion in 2021 and is expected to surpass around USD 10.8 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 35.14% during the forecast period 2022 to 2030.
This growth is primarily due to the increasing prevalence of chronic disorders, elevating the global population coupled with the geriatric population, favorable reimbursement policies in developed economies, and increasing investments to develop advanced robotic platforms. However, several factors, such as a shortage of skilled professionals and restrictive regulatory framework, are the primary obstacle hindering the growth of the global next-generation surgical robotics market.
The global next-generation surgical robotics market is anticipated to gain significant traction in the future. Several key players are engaging in developing advanced surgical robotics, testing the capabilities of miniaturization, autonomous, and telesurgery technologies.
The market for next-generation surgical robotics is at a nascent stage, with only two companies having commercialized offerings. The rest of the products by other companies are still in the investigational phase and is expected to launch during the forecast period, 2020-2030.
The factors, such as increasing awareness about the advantages of surgical robotics coupled with the improving healthcare infrastructure in several economies and increasing investments & funding within the surgical robotics domain, is expected to bolster the growth of next-generation surgical robotics market.
Report Scope of the Next Generation Surgical Robotics Market
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Report Coverage |
Details |
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Market Size in 2022 |
USD 3.05 Billion |
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Market Size by 2030 |
USD 10.8 Billion |
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Growth Rate from 2022 to 2030 |
CAGR of 35.14% |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Component, Technology, Surgery Type, End User and Geography |
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Companies Mentioned |
Medrobotics, Renishaw plc., TransEnterix Surgical, Inc., Intuitive Surgical, Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Next generation surgical robotics, Inc. (Hansen Medical Inc.), Intuitive Surgical, Inc., KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Mazor Robotic |
Segmental Insights
Surgery Type Insights
On the basis of the surgery, the neurosurgery segment is expected to grow at the fastest rate during the forecast. There is great amount of adoption of robotics in neuro surgeries. Over the traditional techniques. Technological advancements and the use of robotics in neuro Surgeries have successful outcomes. The use of automated robotic instruments in brain surgeries will help in the growth of the market.
The orthopedic surgery segment has the good position in the market as there are many injuries caused due to bike and road accidents or any other accidents that need surgeries. Arthritis, joint pains and other reasons for correcting the bones are expected to help in the growth of the market. There's an increased use of robotics for treatment of cancer. For minimally invasive laparoscopic surgeries the demand for robotics has increased in the recent years.
Component Insights
The component, the accessory segment has dominated the global next generation surgical robotics market. Due to an extensive use of accessories for the surgical procedures. The Services segment is also expected to grow well due to a rise in the robot assisted surgeries across the nations. Increase in the geriatric population and chronic diseases like diabetes, arthritis and HIV AIDS leads to the growing use of robotics.
End User Insights
On the basis of the end user, the next generation surgical robotics market is expected to grow in the hospital segment. In the coming years, there shall be an increase in the demand for surgical reports at various hospitals settings and it will offer a lucrative market growth. Next generation surgical robotics at the hospital settings will be able to help with effective patient care. The high number of inpatient visits and increasing surgical procedures at the hospital will lead to the growth in the market. Larger and better hospital infrastructure along with the skilled healthcare personnel available at this infrastructure will help in changing the scenario in various emerging economies.
Region Insights
In the previous year, the North American market had the largest revenue share of about 50%. The adoption of automated surgical instruments in the health care industry and the increasing health care facilities in the United States will drive the market in this region. The smaller number of healthcare professionals and surgeons in the US depending upon the patient population will also drive the regional market for next generation surgical robotics. Chronic illnesses like diabetes, cancer and the cardiovascular diseases have led to an acceleration growth of the market.
Growing population and increasing adoption of advanced automated surgical devices in the Asia Pacific region will help in the growth of the market. The adoption of advanced medical technology and availability of modern health care infrastructure has led to a growth in the Asia Pacific region. Investors are investing in automated instruments and this is expected to help in the growth of the market. Growing awareness of robotics in surgery and the higher acceptance rate of the next generation surgical robotics in this region, the market is expected to grow.
Some of the prominent players in the Next Generation Surgical Robotics Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Next Generation Surgical Robotics market
By Component
By Technology
By Surgery Type
By End User
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Next Generation Surgical Robotics Market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers