Global Urology Robotic Surgery Market

Urology Robotic Surgery Market Size, Share, Growth Analysis, By Component(Robotic Surgery Systems, Instruments and Accessories, and Services), By Application(Robotic Prostatectomy, Robotic Cystectomy, Robotic Pyeloplasty, Robotic Nephrectomy), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2238 | Region: Global | Published Date: April, 2024
Pages: 216 |Tables: 65 |Figures: 70

Urology Robotic Surgery Market Insights

Global Urology Robotic Surgery Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.99 billion in 2023 to USD 25.22 billion by 2031, growing at a CAGR of 19.7% in the forecast period (2024-2031).

Urology surgeries that involve robots are known as urology robotic surgeries. Surging incidence of urology disorders and the growing use of robotic technologies in the healthcare industry are projected to augment urology robotic surgery market growth over the coming years. High investments in the development of healthcare infrastructure and the growing availability of novel robotic solutions for healthcare applications will also boost urology robotic surgery demand outlook going forward. Miniaturization of robotics and advancements in nanotechnology are also key trends that could create new opportunities for urology robotic surgery companies in the long run. Increasing acceptance of robotic surgeries and rising preference for minimally invasive surgeries are also forecasted to uplift the demand for urology robotic surgeries in the future. However, the high costs of robotic systems and requirement of skilled medical professionals with extensive training to operate them are estimated to hurt urology robotic surgery market development over the coming years.

Market Snapshot - (2024-2031)

Global Market Size

USD 5 billion

Largest Segment

Instruments and Accessories

Fastest Growth

Robotic Surgery Systems

Growth Rate

19.7% CAGR

Global Urology Robotic Surgery Market ($ Bn)
Country Share for North America Region (%)

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Urology Robotic Surgery Market Segmental Analysis

The global urology robotic surgery market is segmented based on component, application, and region. In terms of components, the market is segmented into robotic surgery systems, instruments and accessories, and services. Based on application, the market is divided into robotic prostatectomy, robotic cystectomy, robotic pyeloplasty, robotic nephrectomy, and other procedures. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.

Analysis by Component

Instruments and accessories are estimated to account for a dominant share of the global urology robotic surgery market. Increase in the number of urology surgery procedures performed around the world is the key factor helping this segment maintain its dominance. The volume of instruments and accessories required in surgeries is much higher than other components and this is what contributes to its high market share as well.

Meanwhile, the demand for robotic surgery systems is projected to increase at a rapid pace across the forecast period and beyond. Rising acceptance of robotics in healthcare and increasing availability of affordable robotic surgery systems are also helping this segment expand at a robust CAGR through 2031.

Global Urology Robotic Surgery Market By Component, 2022 (%)

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Urology Robotic Surgery Market Regional Insights

North America is predicted to dominate the global urology robotic surgery demand outlook across the forecast period. Increasing acceptance of novel surgery technologies and high incidence of urology disorders are contributing to the high market share of this region. A developed healthcare ecosystem and high healthcare spending potential are also contributing to the region's dominance. Canada and the United States are estimated to be the key markets for urology robotic surgery companies in this region going forward.

Increasing urology patient pool and rising investments in healthcare infrastructure development are projected to make the Asia Pacific region fastest-growing market for urology robotic surgery companies. Growing adoption of advanced surgery and treatment techniques and increasing acceptance of robotic healthcare surgeries are key factors that help urology robotic surgery market expansion in this region. China, India, Japan, and South Korea are forecasted to be top markets for urology robotic surgery providers in this region.

Global Urology Robotic Surgery Market By Region, (2024-2031)
  • Largest
  • Fastest

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Urology Robotic Surgery Market Dynamics

Drivers

Advancements in Healthcare Robotics

  • Robotic technology has come a long way in recent years and these advancements are surely projected to boost urology robotic surgery demand outlook in the future. The efficacy of robots in performing surgeries has been proven and these advancements in robotics will only boost market growth going forward.

High Incidence of Urology Disorders

  • Rapidly increasing geriatric population of the world has put more people at risk of developing urology disorders such as kidney diseases, prostate cancer, etc. This surge in urology disorders is also slated to contribute to high demand for urology robotic surgeries in the future.

Restraints

High Costs of Surgery

  • Robotic surgeries are still a novel idea and the use of advanced robotic technologies in them is what contributes to the high costs of these surgeries. Limited to no reimbursement on robotic urology surgeries is also a key factor that could hurt urology robotic surgery market growth in the future.

Training and Learning Curve

  • The requirement of extensive training and learning to manage robotic surgery systems is also a key barrier to urology robotic surgery market growth in the long run. Putting surgeons in these extensive training programs could mean less resources for healthcare institutions and this could impede market development going forward.

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Urology Robotic Surgery Market Competitive Landscape

Urology robotic surgery providers should focus on increasing awareness regarding the benefits of this surgery to promote acceptance among patients around the world. Urology robotic surgery companies can also work closely with robotic technology providers to develop more precise and effective robotic surgery systems designed for urology applications. Collaborations, mergers, and partnerships are estimated to help urology robotic surgery market players expand their market share and presence on a global level.

Top Player’s Company Profiles

  • Intuitive Surgical, Inc.
  • Renishaw plc
  • Mazor Robotics Ltd.
  • Stryker Corporation
  • OMRON Corporation
  • CMR Surgical Ltd.
  • TransEnterix Surgical, Inc.
  • Verb Surgical Inc.
  • Auris Health, Inc.
  • Medtronic plc
  • Siemens Healthineers AG
  • Zimmer Biomet Holdings, Inc.
  • Titan Medical Inc.
  • Accuray Incorporated
  • Smith & Nephew plc

Recent Developments

  • In July 2023, Intuitive Surgical, Inc. introduced advancements to its da Vinci Surgical System specifically tailored for urological procedures. The updates include enhanced imaging capabilities and ergonomic improvements, allowing surgeons to perform complex urologic surgeries with greater precision and efficiency.
  • In January 2022, TransEnterix Surgical, Inc. announced regulatory approval for its next-generation robotic system designed for urological surgeries. The system features innovative instruments and intuitive controls, empowering surgeons to perform minimally invasive procedures with improved outcomes and patient recovery times.

Urology Robotic Surgery Key Market Trends

AI Integration: Urology robotic surgery companies can focus on integrating artificial intelligence technology with their robotic systems to improve its functionality. AI can utilize urology surgery data to train robotic systems without needing human supervision and reducing the time required for training robotic systems.

Urology Robotic Surgery Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per Skyquest analysis, increasing incidence of urology disorders and growing use of robotics and other technologies in healthcare applications are predicted to be key factors driving the demand for urology robotic surgeries. However, high costs of robotic surgery are expected to impede urology robotic surgery market development going forward. North America is slated to account for the highest share of the global urology robotic surgery market owing to high acceptance of novel healthcare technologies in this region. Urology robotic surgery companies should focus on integrating advanced technologies such as AI and machine learning with their products to maximize revenue generation in the long run.

Report Metric Details
Market size value in 2022 USD 5 billion
Market size value in 2031 USD 25.22 billion
Growth Rate 19.7%
Base year 2023
Forecast period (2024-2031)
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Robotic Surgery Systems, Instruments and Accessories, and Services
  • Application
    • Robotic Prostatectomy, Robotic Cystectomy, Robotic Pyeloplasty, Robotic Nephrectomy, and Other Procedures
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Intuitive Surgical, Inc.
  • Renishaw plc
  • Mazor Robotics Ltd.
  • Stryker Corporation
  • OMRON Corporation
  • CMR Surgical Ltd.
  • TransEnterix Surgical, Inc.
  • Verb Surgical Inc.
  • Auris Health, Inc.
  • Medtronic plc
  • Siemens Healthineers AG
  • Zimmer Biomet Holdings, Inc.
  • Titan Medical Inc.
  • Accuray Incorporated
  • Smith & Nephew plc
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Urology Robotic Surgery Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Urology Robotic Surgery Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Urology Robotic Surgery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Urology Robotic Surgery Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Urology Robotic Surgery Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Urology Robotic Surgery Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Urology Robotic Surgery Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.99 billion in 2023 to USD 25.22 billion by 2031, growing at a CAGR of 19.7% in the forecast period (2024-2031).

Urology robotic surgery providers should focus on increasing awareness regarding the benefits of this surgery to promote acceptance among patients around the world. Urology robotic surgery companies can also work closely with robotic technology providers to develop more precise and effective robotic surgery systems designed for urology applications. Collaborations, mergers, and partnerships are estimated to help urology robotic surgery market players expand their market share and presence on a level. 'Intuitive Surgical, Inc.', 'Renishaw plc', 'Mazor Robotics Ltd.', 'Stryker Corporation', 'OMRON Corporation', 'CMR Surgical Ltd.', 'TransEnterix Surgical, Inc.', 'Verb Surgical Inc.', 'Auris Health, Inc.', 'Medtronic plc', 'Siemens Healthineers AG', 'Zimmer Biomet Holdings, Inc.', 'Titan Medical Inc.', 'Accuray Incorporated', 'Smith & Nephew plc'

Robotic technology has come a long way in recent years and these advancements are surely projected to boost urology robotic surgery demand outlook in the future. The efficacy of robots in performing surgeries has been proven and these advancements in robotics will only boost market growth going forward.

North America is predicted to dominate the urology robotic surgery demand outlook across the forecast period. Increasing acceptance of novel surgery technologies and high incidence of urology disorders are contributing to the high market share of this region. A developed healthcare ecosystem and high healthcare spending potential are also contributing to the region's dominance. Canada and the United States are estimated to be the key markets for urology robotic surgery companies in this region going forward.

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Global Urology Robotic Surgery Market

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