SNS Insider Black Friday Offer
Surgical Robots Market

Surgical Robots Market Size, Share & Segment by Component (Accessories, Systems, Services), By Surgery Type (Gynecology Surgery, General Surgery, Neurosurgery, Orthopedic Surgery, Other Surgeries, Urology Surgery), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/HC/1791 | June 2022 | Region: Global | 125 Pages

Surgical Robots Market Overview:

The Surgical Robots Market Size was valued at USD 3.8 billion in 2021, and expected to reach USD 13.1 billion by 2028, and grow at a CAGR of 19.2% over the forecast period 2022-2028.

Surgical robots will be robots that are utilized as a component of the surgery. Surgical robots join state of the art PC innovation with the mastery of profoundly prepared specialists. Surgical robots are essential for negligibly obtrusive Surgical as they consider exact control of Surgical devices that would be outside the realm of possibilities for people to do in a little activity room. The decrease of hand quakes gives this control, taking into consideration expanded finesse in any event, during the most difficult medicines. Automated innovation has prompted the advancement of helpful apparatuses for recovery, medical procedure, and clinical preparation, as well as novel and favorable prosthetics and strong gear for the incapacitated.

Surgical Robots Market

Future Surgery Types of mechanical innovation will keep on giving advances in these and different areas of medication. The main job of careful robots would doubtlessly be to empower new microsurgery methods by giving high-expertise admittance to little physical designs, incorporating imaging modalities into the OR, giving practical substitutions to lost appendages, and empowering new human-machine points of interaction and strategies for conveying neuro-recovery.

To control a surgical robot, a computer software can be employed. A camera arm and mechanical arms with surgical instruments attached are included in the most widely used surgical robotic system. The surgeon controls the arms from a computer station adjacent to the operating table. Because of the console, the surgeon has a magnified, high-definition 3-D view of the surgery site. Surgical robots' capacity to conduct precise hand movements without being hampered by fatigue, inaccuracy, or interruptions has resulted in more efficient surgical procedures taking less time. Surgical robots are becoming increasingly popular as a result.

MARKET DYNAMICS

DRIVERS

  • The requirement for negligibly obtrusive medical procedures is developing.

  • Increased regulatory acceptance

  • Technological advancement

RESTRAINTS

  • When using the technology, humans make mistakes.

  • mechanical failure presents a risk

OPPORTUNITIES

  • Surgical robots are becoming more common in ASCs.

CHALLENGES

  • Lack of awareness

  • Hight cost

IMPACT OF COVID-19

The global impact of the COVID-19 epidemic on the world's population and economy has been catastrophic. Healthcare systems have been severely strained by the outbreak. Healthcare organizations and professionals have been told to halt performing elective surgical operations and medical evaluations for COVID-19 patients during this time to reduce the risk of transmission and conserve healthcare resources. The pandemic has resulted in a temporary restriction on elective surgeries all over the world, resulting in the cancellation of elective surgeries all over the world, which has had a negative impact on the global economy.

MARKET ESTIMATION

By Component:

Future Surgery Types of mechanical innovation will keep on giving advances in these and different areas of medication. The main job of careful robots would doubtlessly be to empower new microsurgery methods by giving high-expertise admittance to little physical designs, incorporating imaging modalities into the OR, giving practical substitutions to lost appendages, and empowering new human-machine points of interaction and strategies for conveying neuro-recovery.

By Type:

The market is bifurcated into Gynecological medical procedure, Urological medical procedure, Neurosurgery, Orthopedic medical procedure, General a medical procedure, and other medical procedure. Gynecological medical procedure section represented the biggest income share in 2021 and is expected to enroll the most noteworthy CAGR also from 2022 to 2028. The rising number of C-area techniques and patients' inclination for mechanical helped negligibly obtrusive medical procedures are supposed to impel the section development.

COMPETITIVE LANDSCAPE

Some of the major key players are as follows: Stryker Corporation, Intuitive Surgical, Smith & Nephew, TransEnterix Surgical Inc., Medrobotics, Zimmer Biomet, Renishaw plc., THINK Surgical Inc., Medtronic, and other players.

MARKET SEGMENTATION:

By Component

  • Accessories

  • Systems

  • Services

By Surgery Type

  • Gynecology Surgery

  • General Surgery

  • Neurosurgery

  • Orthopedic Surgery

  • Other Surgeries

  • Urology Surgery

Surgical Robots Market

REGIONAL ANALYSIS

North America, Europe, Asia Pacific, and the Rest of the World are the regions that make up the Global Surgical Robots Market. The Surgical Robots market is dominated by North America, which is expected to stay so during the report's forecast period. The large share of the North American market can be due to the region's investment in surgical robot research & development, as well as the increasing usage of surgical robots for pediatric procedures in Canada and surgery procedures in the United States.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Surgical Robots Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 3.8 Billion
Market Size by 2028 US$ 13.1 Billion
CAGR CAGR of 19.2% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Accessories, Systems, Services)
• By Surgery Type (Gynecology Surgery, General Surgery, Neurosurgery, Orthopedic Surgery, Other Surgeries, Urology Surgery)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Stryker Corporation, Intuitive Surgical, Smith & Nephew, TransEnterix Surgical Inc., Medrobotics, Zimmer Biomet, Renishaw plc., THINK Surgical Inc., Medtronic, and other players.
DRIVERS • The requirement for negligibly obtrusive medical procedures is developing.
• Increased regulatory acceptance
• Technological advancement
RESTRAINTS • When using the technology, humans make mistakes.
• Mechanical failure presents a risk


Frequently Asked Questions (FAQ) :

key drivers of the Surgical Robots Market is Increased regulatory acceptance, Technological advancement

The challenges faced by Surgical Robots is Lack of awareness, and Hight cost

The device type is divided into 5 sub segments is Gynecology Surgery General Surgery, Neurosurgery, Orthopedic Surgery, Other Surgeries, and Urology Surgery.

The Surgical Robots market is dominated by North America, which is expected to stay so during the report's forecast period.

Surgical Robots Market is expected to reach USD 13.1 billion by 2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Surgical Robots market Segmentation, By Component

8.1 Accessories

8.2 Systems

8.3 Services

 

9. Surgical Robots market Segmentation, By Surgery Type

9.1 Gynecology Surgery

9.2 General Surgery

9.3 Neurosurgery

9.4 Orthopedic Surgery

9.5 Other Surgeries

9.6 Urology Surgery

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11 Company Profiles

11.1 Smith & Nephew

            11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Stryker Corporation

11.3 Intuitive Surgical

11.4 TransEnterix Surgical, Inc.

11.5 Medrobotics

11.6 Zimmer Biomet

11.7 Renishaw plc.

11.8 THINK Surgical, Inc.

11.9 Medtronic.

 

12 Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

16 Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.