Explore the latest trends and actionable insights on the Robotic Surgical Systems market to inform business strategy and pinpoint opportunities and risks

Medical Surgical Robotics Market: Current Trends and Future Market Dynamics

  • In 2021, North America was the fastest growing market for surgical robots acquiring 70.7% of the market by value
  • Globally, the Surgical Robotics market is dominated by Intuitive Surgical and Stryker

North America holds the largest share in this market

As per GlobalData’s Medical Device database, the global surgical robotics market size was valued at $9.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030. North America dominated the surgical robotics market, with 70.7% in 2021, while the Asia Pacific region is expected to register the highest CAGR of 7.1% during the forecast period. Growing healthcare revenues, increasing elderly and surgical patient populations, and a growing focus on robotics training for physicians drive growth in the North American market. On the other hand, the APAC region is expected to grow at a lucrative rate over the forecast period due to the growing patient population and increase in healthcare expenditure.

Major companies dominating the surgical robotics market

Intuitive Surgical and Stryker dominate the surgical robotics market, covering more than 75% of the market value. The key players plan to focus on technological development and introduce advanced and next-generation robotic instruments to capture a major market share globally. In addition, the increasing demand for automated surgical instruments manufactured by new companies and strategic developments such as acquisitions, mergers, and collaborations among the leading market players is likely to increase the competition.

COVID-19 Impact on the Surgical robotics Market

The COVID-19 pandemic has led to a temporary ban on elective surgeries across the globe to control disease transmission and conserve healthcare resources for COVID-19 patients, impacting the market growth. However, the pent-up demand from the delay in many elective robotic surgeries had continued to be addressed in 2021, with the procedure in the US alone exceeding pre-pandemic growth rates.

 

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Explore the latest trends and actionable insights on the Robotic Surgical Systems market to inform business strategy and pinpoint opportunities and risks Explore the latest trends and actionable insights on the Robotic Surgical Systems market to inform business strategy and pinpoint opportunities and risks Visit Report Store

Related Companies

Smith & Nephew Plc

United Kingdom

Zimmer Biomet Holdings Inc

United States of America

Stryker Corp

United States of America

Johnson & Johnson

United States of America

Medrobotics Corp

United States of America

Medrobotics Corp
Globus Medical Inc

United States of America

Intuitive Surgical Inc

United States of America

meerecompany Inc

South Korea

meerecompany Inc
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