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Robotic surgery

Surgical Robots Market to Reach USD 23.7 Billion by 2029

Strategic Insights

— 1 min read

The global surgical robots market is set to experience significant growth, driven by the increasing adoption of minimally invasive procedures, technological advancements, and the need for precise surgical outcomes. The market is projected to surge from USD 11.1 billion in 2024 to USD 23.7 billion by 2029, at a compound annual growth rate (CAGR) of 16.5%.

Key Takeaways:

  • The surgical robots market is dominated by the instruments & accessories segment, which accounted for 44.6% of the market share in 2023.
  • General surgery is expected to hold the largest share in the application segment, driven by the adaptability of robotic systems in various procedures and improved patient outcomes.
  • Hospitals and clinics are the largest end users of surgical robots, accounting for 52.4% of the market share in 2023, due to their need for advanced surgical technologies that improve precision, expedite patient recovery, and reduce risks associated with complex procedures.
  • North America is the leading region in the surgical robots market, with a market share of 42.5% in 2023, due to its well-established healthcare infrastructure, high acceptance of cutting-edge technology, and substantial investment in healthcare innovation.
  • Key market players include Intuitive Surgical, Medtronic, Stryker, and Smith+Nephew, which are expanding their market presence through strategies such as product launches, acquisitions, collaborations, agreements, and market expansion.

Statistics:

  • Market size: USD 11.1 billion (2024) - USD 23.7 billion (2029)
  • Compound annual growth rate (CAGR): 16.5%
  • Market share by segment:

+ Instruments & accessories: 44.6% (2023)

+ Robotic systems: 30.5% (2023)

+ Services: 24.9% (2023)

  • Market share by application:

+ General surgery: 35.6% (2023)

+ Gynecological surgery: 21.1% (2023)

+ Orthopedic surgery: 15.5% (2023)

  • Market share by end user:

+ Hospitals and clinics: 52.4% (2023)

+ Ambulatory Surgery Centers (ASCs): 26.7% (2023)

  • Regional market share:

+ North America: 42.5% (2023)

+ Europe: 28.2% (2023)

+ Asia-Pacific: 23.1% (2023)

Sources:

  • "Surgical Robots Market by Product (Instruments & Accessories, Systems, Services), Application (Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery), End User (Hospitals, Ambulatory Surgery Centers) & Region - Global Forecast to 2029"
  • MarketsandMarkets Research Private Ltd. (https://www.marketsandmarkets.com/Market-Reports/surgical-robots-market-256618532.html)
  • M2 PressWIRE (www.abnewswire.com ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.m2.co.uk on the world wide web. Inquiries to info@m2.co.uk))).

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