Surgical robots are designed to solve the limitations currently present in minimally invasive surgeries, as well as to improve outcomes in open surgical procedures. These systems are utilised in a variety of surgical procedures, including cardiovascular, general surgery, orthopedic, neurosurgery, obstetrics, gynaecology and more. According to GlobalData forecasts, the total surgical robotics market was worth $4.6bn in 2020 globally. By 2030, it will have grown at a strong compound annual growth rate (CAGR) of 8.5% to $10.3bn, bolstered with the coming marriage of artificial intelligence (AI) and robotics within medical devices.
The surgical robotics market can be segmented into capital equipment and consumable accessories. Robotic surgical system accessories occupy approximately 66% of the market. Depending on the lifespan of capital equipment, surgical centers may not replace capital equipment or buy additional units in a given year, but they continuously purchase disposables to meet the demands of high-volume procedures.
Increasing elderly and surgical patient populations, technological improvement, and a growing focus on robotics training for physicians are driving growth of the surgical robotics market. GlobalData expects that the number of surgeries performed using robotic surgical systems is growing at a CAGR of 10.5% in the US from 2020 to 2030. Covid-19 had a negative impact on the number of robotic surgical procedures due to the cancellation of elective surgeries in Q2 2020. A ‘surge’ period of sales in Q4 2020 made up for lost revenue in Q2 2020, as elective surgeries were rescheduled. The evolution of technologies such as Cloud computing and AI will drive innovation in the robotics space, thus improving clinical outcomes and reducing the workload for healthcare providers.
Based on procedure types, the surgical robotics market can be broadly divided into three primary sub-segments: general surgery robotics, orthopaedic robotics and neurosurgery robotics. The general surgery robotics segment dominates the surgical robotics market due to strong acceptance of da Vinci Surgical Systems globally. As of 2020, general surgery robotics occupies nearly 89% of the global market. The market for orthopaedic robotics is expected to be doubled by 2030, reaching $750m, primarily driven by the fast-growing robotic-assisted total knee replacement procedures. Neurosurgery robotics is the fastest-growing segment, expanding at a CAGR of 10.1% from 2020 to 2030.