Comparing 17 vendors in Surgical Robots across 0 criteria.
ContendersMarket Leaders 
Emerging CompaniesInnovators 
Stryker
Brainlab
Think Surgical
Medtronic
Smith+Nephew
Renishaw
Zimmer Biomet
Globus Medical
Intuitive Surgical
Quantum Surgical
Stereotaxis
J&J
Asensus Surgical
CMR Surgical
MMI
MicroPort MedBot
avatera
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POWERED BY MARKETSANDMARKETS
Dec 21, 2024
Summary
The Surgical Robot Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Surgical Robots. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 30 companies of which the Top 17 Surgical Robot companies were categorized and recognized as the quadrant leaders.
Surgeons use surgical robots to perform minimally invasive procedures. Surgical robots consist of a camera arm and mechanical arms controlled by surgeons on a computer console that offer a high- definition and magnified 3D view of the surgical site. These robots enable surgeons to carry out complex surgical procedures with greater precision, accuracy, and control than conventional techniques.
The 360 Quadrant maps the Surgical Robot companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Surgical Robot’s quadrant. While the top criteria for product footprint evaluation included Strength of Offering (Product Lines (Commercialized), Innovation & Investments, Delivery Capability), Application of Surgical Robots (General Surgery, Gynecology Surgery, Orthopedic Surgery (Knee & Hip), Urological Surgery, Neurosurgery (Including Spine, Brain, Head & Neck), Others (Cardio, Thoracic)), Product Category Offered (Robotic Systems, Instruments & Accessories, Services, Software), Customers Served (Hospitals & Clinics, Ambulatory Surgery Center), Product Launches & Approvals, and Total surgical robotic systems launched in the past 3 years.
Key trends highlighted in 360 Quadrants:
- The global surgical robots market is projected to reach USD 18.36 billion by 2028 from USD 8.53 billion in 2023, at a CAGR of 16.6% during the forecast period. The growth in this market can largely be attributed to factors such as the advantages of robotic-assisted surgery, technological advancements, and the increasing adoption of surgical robots. Other factors, such as the improving reimbursement scenario and increasing funding for medical robot research, also support market growth. However, surgical errors are expected to limit market growth to a certain extent in the coming years. The high cost of robotic systems is also expected to restrain market growth.
- In 2023, the instruments & accessories segment dominated the market, capturing the majority share at nearly 51%. This substantial portion can be linked to the frequent procurement of instruments & accessories, as opposed to robotic systems, which involve a singular investment. This trend signals a preference for ongoing and frequent procurement, presenting surgical robot companies with the chance to strategically position themselves as providers of high-quality and innovative instruments & accessories. By focusing on the development and marketing of a diverse range of such components, the surgical robot companies can cater to the rising demand.
- The global surgical robot market is currently dominated by hospitals and clinics, which accounted for the highest of the market in 2023 and it is predicted to witness the fastest growth rate over the coming years. This growth is driven by the rapid adoption of surgical robots by hospitals and clinics worldwide, as the number of robotic-assisted procedures performed each year continues to increase across a wider range of specialties. With the resources and patient volumes to support the significant investment required, hospitals and clinics are leading the integration of surgical robotics into mainstream medical practice. The growth strategies and investments of surgical robot companies will therefore be focused on capturing the immense potential from hospitals and clinics leading the adoption of surgical robotics.
- In 2023, the general surgery segment held the predominant share at 29.8% of the market, and it is anticipated to demonstrate the highest CAGR of 17.1% throughout the forecast period. The robust growth in this segment is attributed to the escalating utilization of surgical robots in various general procedures, including but not limited to bariatric surgery, cholecystectomy, transoral surgery, heller myotomy, gastrectomy, hernia repair, and pancreatectomy. Given the high demand and growth, surgical robot companies may choose to develop specialty systems, tools and features to capture even more of the general surgery market segment.
- The worldwide surgical robots market exhibits a high level of consolidation, with key surgical robot companies holding a dominant position, collectively representing more than 90% of the total market share. Among the major contributors in this sector are Intuitive Surgical (USA), Stryker Corporation (USA), Medtronic (Ireland), Smith+Nephew (UK), Zimmer Biomet (USA), Asensus Surgical (USA), Renishaw (UK), CMR Surgical (UK), and Johnson & Johnson (USA) among others. Surgical Robot Companies are intensifying their emphasis on research and development (R&D) to incorporate innovative products into their portfolios, thereby enhancing their market presence. For instance, Stryker announced that it launched the Mako Total Knee 2.0 as part of its Mako SmartRobotics portfolio in March 2023. Furthermore, the appealing growth prospects in the Asia-Pacific (APAC) and Latin American markets motivate market players like these to bolster their positions in these regions.
- The rise of outpatient surgery through ambulatory surgery centers (ASCs), offering cost-effective and convenient alternatives, presents a strategic opportunity for surgical robot companies. ASCs specialize in surgical procedures without hospital admission, yielding significant savings for healthcare systems and patients. The increasing preference for ASCs over traditional inpatient settings, driven by cost efficiency and reduced patient co-payments, signals a growing market for surgical robots. Companies in the surgical robotics sector can capitalize on this trend by developing innovative solutions tailored to the needs of ASCs, aligning with the shift toward outpatient care and the decline in hospital in-patient visits.
Frequently Asked Questions (FAQs)
A surgical robot is a sophisticated, computer-assisted system designed to aid surgeons in performing minimally invasive surgeries. These robots often consist of robotic arms equipped with specialized instruments, controlled by surgeons from a console.
Surgical robots are employed in hospitals and medical centers globally, spanning various specialties. Common applications include urological procedures like prostatectomies, gynecological surgeries such as hysterectomies, cardiothoracic surgeries including mitral valve repairs, and general surgeries like colorectal procedures. Their versatility extends to disciplines like head and neck surgery, orthopedics, and minimally invasive interventions. While predominantly found in well-equipped urban medical facilities, efforts are underway to make robotic surgery more accessible in diverse healthcare settings, enhancing patient access to advanced, precision-enhancing technologies across a broad spectrum of surgical interventions.
Surgical robots use a combination of robotic arms, cameras, and advanced software. Surgeons control the robot's movements via a console, translating their hand movements into precise actions by the robotic arms, enhancing precision and minimizing invasiveness.
Surgical robots are used across various medical specialties, including urology, gynecology, cardiothoracic, and general surgery. Procedures range from prostatectomies to hysterectomies.
Yes, robotic surgery is generally safe, with a low rate of complications. The safety, however, hinges on factors such as the surgeon's expertise, adherence to established protocols, and proper training. Potential risks include technical malfunctions, surgeon inexperience, and unforeseen complications during surgery. Rigorous training programs ensure surgeons acquire the necessary skills for proficient robotic surgery, minimizing risks. While complications are rare, ongoing advancements in technology and continuous training aim to further enhance the safety and effectiveness of robotic surgical procedures, contributing to positive patient outcomes.
Yes, modern surgical robots often incorporate artificial intelligence (AI) elements. AI enhances surgical capabilities by providing features such as image recognition, allowing robots to interpret and adapt to varying anatomical structures. Machine learning algorithms aid in refining surgical techniques, optimizing instrument movements, and improving overall precision. Additionally, AI can contribute to real-time data analysis during surgery, offering valuable insights to the surgical team. While AI complements the capabilities of surgical robots, it is typically part of a broader technological ecosystem designed to assist surgeons in delivering more precise and personalized medical interventions.
Surgical robots offer increased precision, smaller incisions, reduced blood loss, quicker recovery times, and enhanced visualization, leading to improved patient outcomes.
Surgical robots are primarily composed of durable materials like aluminum and stainless steel, ensuring structural integrity and resistance to corrosion. The robotic arms, crucial for instrument manipulation, are often made from lightweight yet sturdy alloys. The instruments attached to these arms are crafted from specialized materials suitable for medical use, ensuring precision and sterilizability. The console, where surgeons control the robot, typically includes ergonomic interfaces and high-quality display screens. Advanced electronics, motors, and sensors form the internal components, with some robots incorporating additional features like cameras and artificial intelligence processors. Overall, surgical robots integrate a combination of robust materials and cutting-edge technology.
Surgical robots are programmed using a combination of preoperative planning and real-time control by surgeons. Before surgery, a detailed plan is created based on medical imaging, defining the robot's movements. During the procedure, surgeons input specific commands via a console, translating their hand movements into precise robotic actions. Programming also involves incorporating safety measures, ensuring the robot responds to unexpected situations. Some surgical robots feature semi-autonomous functions, leveraging algorithms for tasks like suturing. Ongoing advancements include the integration of artificial intelligence, allowing robots to learn and adapt, further refining their programming through continuous experience and data analysis.
While complications are rare, risks include technical malfunctions, surgeon inexperience, and unforeseen complications during surgery. Adequate training and adherence to safety protocols mitigate these risks.
Surgical robots have limitations, such as a lack of tactile feedback and the inability to perform certain complex maneuvers. Surgeons carefully evaluate each case to ensure robotic assistance is appropriate.
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Research Methodology
