The global surgical robots market was valued at USD 3.92 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2030. Several key factors are driving this market growth, including a global shortage of physicians and surgeons, as well as the increasing adoption of automated instruments for surgical procedures. Additionally, the rising prevalence of bone degenerative diseases, coupled with an increasing number of hip and knee replacement surgeries due to conditions like arthritis and osteoporosis, is expected to further propel market growth. For example, the Agency for Healthcare Research and Quality reports that over 450,000 hip replacement surgeries are conducted annually in the U.S.

The surge in knee and hip replacement surgeries is a significant factor anticipated to enhance the adoption of surgical robots within the healthcare industry. Common disorders affecting joints include various types of arthritis, degenerative bone diseases, and osteoporosis. The growing incidence of these conditions has resulted in a higher number of patients requiring surgical interventions for knee and hip replacements.

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According to statistics from the Australian Institute of Health and Welfare (AIHW), the total knee replacement rate for osteoarthritis increased by approximately 38% from the years 2005-2006 to 2017-2018. Furthermore, projections from the International Congress for Joint Reconstruction in March 2018 indicate that the total number of primary hip replacement procedures is expected to rise to 635,000 (a 171.0% increase) and knee replacement procedures to 1.28 million (a 189.0% increase) by the year 2030. By 2060, these figures are expected to grow even further, reaching 1.23 million (a 330.0% increase) for hip replacements and 2.60 million (a 382.0% increase) for knee replacements.

End-use Segmentation Insights

The inpatient facilities segment represented the largest revenue share of 53.21% in 2023. These facilities, which include hospitals, typically have the financial capacity and high patient volumes necessary to justify significant investments in expensive surgical robotic systems. Additionally, hospitals are equipped with the necessary infrastructure and have skilled personnel capable of operating and maintaining these advanced technologies. The trust and credibility associated with hospitals play a crucial role in attracting both patients and surgeons to robotic-assisted surgeries, further solidifying the dominance of inpatient facilities within the market.

Conversely, the outpatient segment is projected to experience the fastest compound annual growth rate (CAGR) of 9.7% from 2024 to 2030. Outpatient facilities, which encompass ambulatory surgical centers (ASCs) and various surgical centers, often prioritize shorter hospital stays and quicker recovery times, which align well with the advantages provided by surgical robots. Patients tend to prefer outpatient surgeries because they usually result in less disruption to their daily lives and may involve lower treatment costs. Moreover, the evolving regulatory frameworks and reimbursement policies are increasingly accommodating the integration of surgical robots into outpatient facilities, thereby promoting their growth.

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