Surgical Robots Global Market – Overview
The global market of Surgical Robots is booming and expected to gain prominence over the forecast period. The global Surgical Robots market is estimated to expand enormously with a whooping double digit CAGR of 22.75 % between 2017 and 2023.
Advancements in technology have empowered surgeons to remotely operate robots and perform surgery. Surgeons can perform a surgical procedure in emergency situations through telesurgery, with the aid of an imaging device. Surgical robots or robotic surgery has many advantages over traditional open surgery like more accuracy, less pain, small insertions and many more. With the help of surgical robots, surgeons can perform remote surgeries. In emergencies, they are even able to perform surgical procedures through telesurgery with the remotely operated robots using imaging devices. As a result, the uptake of surgical robots is increasing rapidly.
Increasing automation in healthcare sector and increasing demand for the minimally-invasive surgeries and more advances robotics has led to growth of this market across the globe. Beside this increasing incident of cancer, different neurological disorders and many more diseases has provided fuel for the growth of the market
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Industry/Innovation/ Related News:
January 2019 – Verily (US), a subsidiary research organization of Alphabet focused on the study of life sciences, and healthcare announced raising of USD 1 BN from investors.
Feb 2019, Johnson & Johnson, a global healthcare giant, revealed its plan of acquiring Auris Health, a surgical robotics company, for a striking $3.4 billion in cash. The global giant looks to further expand its digital surgery business with this move.
Feb 2019, it was announced by Vicarious Surgical that it had closed down a USD 10 million round of funding that was led by billionaire Bill Gates’ Gates Frontier. The company mentioned its plans of continuing to develop its technology of combining surgical robots and VR with the money.
Surgical Robots Global Market – Competitive Analysis
Surgical Robots market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Vendors are focusing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets.
Marketers employ a continuous improvement strategy to analyze and update the software, implementing improvements and launching new technologies to meet the changing needs of consumer.
These manufactures develop a well-established infrastructure that allows seamless implementation of advanced technologies. They strive to develop unravel design and adept technology Heavy investments are transpired in R&D sector from the major players which is in turn helping the market to grow.
In view of growth and immense revenue generation opportunities potential that market is currently demonstrating is in turn attracting several new players to enter the market. However, those new entrants find it challenging to survive in the market with the introduction of new technologies.
Characterized by the presence of well-established players; Medtronic, Intuitive Surgical, Inc., Johnson & Johnson, Stryker Corporation, Google Life Sciences, TransEnterix, Hansen Medical, and Mazor Robotics.
Surgical Robots Global Market – Segments
The Surgical Robots Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Control Mechanism : Comprises Direct Telemanipulator and Computer Control.
Segmentation By Robotic Surgery Approach : Comprises Supervisor-Controlled Robotic Surgical System, Shared Control Robotic Surgical Systems, Telesurgery Systems, Robotic Radiosurgery Systems.
Segmentation By Application : Comprises General Surgery, Cardiac Surgery, Gynecologic Surgery, Colorectal Surgery, Urologic Surgery, Head and Neck Surgery and other.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Surgical Robots Global Market – Regional Analysis
The global surgical robots market is regionally segmented into Asia Pacific, Europe, America, and the Middle East & Africa regions.
The Americas hold a dominant position in the global market for surgical robots in the healthcare sector. The high percentage of growth in this region can be particularly attributed to various factors, namely strategic collaboration with assurance entities, growing financial capability of hospitals for investing in these advancing systems, general level of awareness concerning computer-assisted surgeries, and growing acceptance among patients for the usage of surgical robots due to enhanced healthcare results or outcomes. The market in the Americas is largely spearheaded by the US, which contributes the maximum share percentage herein. The market in the US region is growing radically due to the surging rate of acceptance for these robots for surgical procedures.
The European region holds the second largest share of the global market for surgical robots following the Americas. The market here is expected to grow at a continuous pace in the forthcoming years due to various factors. This includes the booming demand for minimally invasive forms of surgeries or unmanned and miniature robotics usage for surgeries and the imperative need and focus on automation as an important component in the healthcare sector. Additionally, rising incidences of colorectal cancer, gynaecological diseases, and neurological disorders are also projected to majorly boost the adoption and subsequently the market growth of robotic surgical systems across the entire European region.
Meanwhile, the Asia Pacific regions comes-in third in the global standings due to its relatively slow growth rate thus far. The factor majorly influencing its slow growth period thus far is the snail-paced adoption and implementation of surgical robots in the healthcare industry. However, a major shift has been observed and forecasted, wherein the proliferation of the healthcare industry is shifting from regions such as Americas and Europe to Asia Pacific. Major factors influencing such a radical shift is the emergent need for high-quality healthcare facilities, infrastructure, and institutions, a constantly growing population base with added cost advantage, and growing number of private funds and favorable government initiatives run in this region.
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