The Surgical Robots Market is to grow by USD 7,892.61 million from 2022 to 2027

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03 Aug, 2023, 12:00 ET

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NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The surgical robot market is to grow by USD 7,892.61 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 20.67% during the forecast period, according to Technavio. The surgical robot market is fragmented, and the companies are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc., United Orthopedic Corp., Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., and Virtual Incision are some of the major market participants -. To know about the company offerings - Request a sample report

Surgical Robots Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The surgical robots market report covers the following areas:

The surgical robot market is fragmented, and the degree of fragmentation will accelerate. The high adoption due to convenience will offer immense growth opportunities. However, the Cost and affordability associated with surgical robots will hamper the market growth.

Surgical Robots Market 2023-2027- Market Dynamics

Key Driver

The high adoption due to convenience is a key factor driving market growth. The surgeon is provided with greater control and dexterity, allowing for more precise movements during surgery which is one of the key features of surgical robots. Furthermore, better surgical outcomes, reduced complications, and greater patient safety are some of the key benefits of surgical robots in the medical industry. Hence such factors are expected to drive market growth during the forecast period.

Major Trends

The high demand from developing countries is one of the major trends in the market. As healthcare systems in developing countries strive to improve patient outcomes and improve the quality of healthcare services, there is a growing demand for surgical robots in developing countries. They help solve problems by providing a platform for training and skills development which includes simulation skills that allow surgeons to practice complex surgeries and improve proficiency. Therefore, such factors are expected to drive market growth during the forecast period.

Significant Challenges

Cost and affordability associated with surgical robots are one of the significant challenges restricting market growth. This is due to the high initial investment and ongoing costs of training, maintenance, and instrument sterilization. In addition, regular maintenance, and upkeep such as regular inspections, software updates, and device calibration to ensure optimal performance and longevity are other factors limiting the growth. Hence, the above-mentioned factors are expected to restrict market growth during the forecast period.

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Surgical Robots Market 2023-2027: Segment Analysis

Surgical Robots Market 2023-2027: Segmentation Highlights

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Surgical Robots Market 2023-2027: Key Highlights

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Surgical Robots Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 20.67%

Market growth 2023-2027

USD 7,892.61 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

19.05

Regional analysis

North America, Europe, Asia, and the Rest of the World (ROW)

Performing market contribution

North America at 38%

Key countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Accuray Inc., Asensus Surgical US Inc., CMR Surgical Ltd., Intuitive Surgical Inc., Medtronic Plc, Microbot Medical Inc., Momentis Innovative Surgery Ltd., Neocis Inc., Novus International Inc., OMNI Orthopaedics Inc., Renishaw Plc, Siemens AG, Smith and Nephew plc, Stryker Corp., Titan Medical Inc., United Orthopedic Corp., Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., and Virtual Incision

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio