Surgical Robotics Market

Robotic Surgery Market Overview:

The global surgical robotics market size was reached $ 56,294.9 million in 2017 and is expected to reach $ 98,737.0 million by 2024 with a CAGR of 8.5% during the forecast period. Increasing demand and acceptance of laparoscopic or minimally invasive surgery (MIS) is due to the benefits to patients and surgeons, such as better screening, greater precision, shorter hospitalization, reduced pain and discomfort, reduce the risk of infection, reduced blood flow and transfusion. In addition, the increasing number of gynecological, neurological and urological diseases is the main factor that drives the growth of the surgical robotics market. Moreover, the introduction of new and sophisticated robots will meet the growing needs of end users.

The key factors boosting the surgical robots market size are increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries. However, the high cost associated with surgical robotic surgeries & robotic systems will hamper the medical robots market. Additionally, the rise in death toll and injuries due to robotic surgeries will also impede the growth of surgical robots market. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative opportunities in the robotic surgery market.

The global surgical robotics market is segmented on the basis of component, surgery type and region. On the basis of component, the market is segmented into systems, accessories and services. Based on surgery type the market is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global surgical robotics market based on component is bifurcated into systems, accessories and services. Accessories dominated the global surgical robotics market in terms of revenue owing to the wide usage of accessories per surgical procedure. The accessories are replaced after each surgical procedure, thus contributing to the market revenue. Additionally, services is expected to be the fastest growing segment owing to the rise in robot assisted surgeries globally. This is due to the increase in geriatric population and chronic diseases such as diabetes, HIV/AIDS, asthma, arthritis and other diseases.

Based on surgery type the market is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Orthopedic surgery holds a dominant position in the market owing to the rise in orthopedic injuries globally. For instance, according to the National Health Statistics Reports, about 54.5% of the adults in the U.S. had musculoskeletal pain disorders in 2016.

The global surgical robotics market is being evaluated based in North America, Europe, Asia Pacific and LAMEA. North America dominated the global surgical robotics market in 2017 and will retain the leading position growing at a steady CAGR over the forecast period. This is attributed to the well-established healthcare infrastructure and the increase in adoption of surgical robotic systems across various healthcare settings. The presence of international players, ongoing developments in robotics, and the demand for Minimally Invasive Surgeries (MIS) to reduce the post-operative period are the key factors driving the regional market.

The key market players profiled in the report include Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Intuitive Surgical, Inc., KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Mazor Robotics, Renishaw plc, Medtronic plc, THINK Surgical Inc., and Zimmer Biomet Holdings Inc.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current surgical robotics market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing surgical robotics market opportunities.
• An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030, in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the surgical robotics market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the market.

 Surgical Robotics Market Report Highlights