According to Stratistics MRC, the Global Surgical Robotic Market is accounted for $3.8 billion in 2015 and is expected to reach $8.1 billion by 2022 growing at a CAGR of 11.4% during the forecast period. The rising need for automation in the healthcare sector and rising demand for minimally invasive surgeries and minute robotics are the factors driving the market growth. However, accidental injuries due to broken devices and system errors are expected to hinder the market.
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Orthopedic surgery is anticipated to be the fastest growing application during the forecast period. System-related services is projected to be the fastest growing segment, due to increasing need for technical systems support and product parts replacements. Asia-Pacific is one of the fastest growing markets driven by the increasing healthcare expenditure, increasing awareness of robotic surgeries and shifting trend towards adoption of technically advanced procedures. Intuitive Surgical Inc. company is the pioneer of the robotic surgery and currently holds a leading share in the world surgical robotic systems market.
Some of the key players in the market include Think Surgical, Inc., Zimmer Holdings, Inc., Accuray, Hansen Medical, Inc., Mazor Robotics, KUKA AG, Medrobotics, MAKO Surgical Corp., Intuitive Surgical, Inc., Renishaw plc, Stanmore Implants Worldwide Ltd, Medtech S.A., Johnson and Johnson, Blue Belt Technologies, Inc. and Medtronic.
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