Authored By: Sarah
05 Aug 2023

Surgical Robots Market to witness with growth at a CAGR of 20.67% through 2023-2027

The Surgical Robots Market is all set to witness a growth of USD 7,892.61 million in revenue with an accelerating growth at a CAGR of 20.67% between 2022 and 2027 across the globe. Determinants that contributed to this market advancement include high adoption due to convenience, mergers, and acquisitions among players, and high investment in R and D.Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. 

Navigating through the growth drivers of the Surgical Robots Market: When it comes to accessing the growth drivers of the market growth it has been observed that convenience of usage and precise movements during procedures has led to increasing adoption of surgical robots across hospitals followed by improved surgical precision. It enables surgeons to have better control and dexterity. Get a comprehensive report summary describing the market landscape in our data-backed report that captures the growth trajectory of the market.

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Surgical Robots Market 

Market Trends: As per Technavio's analyst's research it has been noted there is a surge in demand for surgical robots in developing counties as the healthcare systems in these countries strive to improve patient outcomes and enhance the quality of healthcare services. It also compensates for the shortage of highly skilled surgeons in developing countries such as  India and Brazil.

Key Companies: Market players are venturing out into the market space with a wide range of offerings to the healthcare sector. For instance, Asensus Surgical US Inc: offers surgical robots such as performance-guided surgery which is next-level technology that revolutionizes what's possible.

Some of the major market players worth mentioning are Accuray 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 among others. Technavio's report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem. Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 20.67%.

  2. What is the incremental growth of the market?
    The market is expected to grow by  7892.61 mn through 2023-2027.

  3. What is a key factor driving this market?
    High adoption due to convenience will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and Rest of the World (ROW) are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    38% growth will originate from North America

  6. What are the market segments covered in this report?
    The market is segmented by Application (General and laparoscopy surgery, Gynecological surgery, Orthopedic surgery, Neurosurgery, and Urology and others), End-user (Hospitals and Ambulatory service centers), and Geography (North America, Europe, Asia, and Rest of World (ROW)
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