Market Insights:
The increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries is anticipated to fuel the growth of the market. The high initial costs and adverse reports stand is expected to hamper the growth of the market.
Robot-assisted surgical systems industry will witness a widespread adoption since the introduction of the da Vinci surgical system by Intuitive Surgical Inc. After the system got FDA approval in 2000, da Vinci surgical system became the most widely-used surgical robot in the United States and Europe helping many cases to witness reduced length of hospital stays and lower rates of infection.
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The Global Robot-Assisted Surgical Systems Market is projected to grow significantly over the forecast period. It is estimated that the global robot-assisted surgical systems market is expected to register a CAGR of ~10% during the forecast period of 2018–2023.
The global robot-assisted surgical systems market is conquered by several players. The key players are involved in new product launches, as well as strategic collaborations to brace their position in the market. For instance, in May 2015, Medtech expanded its presence in Asia with the sales of three ROSA Surgical Robots during April. This initiative is anticipated to open new avenues for the firm to cater to the untapped markets in this region.
Key Players
- Stryker Corporation (MAKO Surgical Corp.),
- Renishaw Plc,
- Varian,
- Accuray,
- Intuitive Surgical Inc,
- Health robotics S.R.L,
- Smith & Nephew Plc. (Blue Belt Technologies, Inc.),
- Auris Surgical Robotics, Inc. (Hansen Medical Inc.),
- KUKA AG,
- Mazor Robotics,
- Medtronic plc,
- THINK Surgical Inc.,
- Zimmer Biomet Holdings Inc.,
- Transenterix,
- Verb Surgical,
- Titan Medical,
- Microbot Medical,
- Medrobotics
Segmentation
The Global Robot-Assisted Surgical Systems Market is segmented on the basis of product, application, and end user.
Surgical robots are divided into orthopedic surgical robots, robotic neurosurgical systems, and laparoscopy robotic systems. Orthopedic Surgical Robots is divided into an iBlock surgical system, Robodoc surgical system, Navio PFS surgical system, MAKO RIO surgical system, and Stanmore Sculptor surgical system. Neurosurgical Robotic Systems is divided into Pathfinder surgical system, NeuroMate surgical system, and Renaissance surgical system. Laparoscopy Robotic Systems is divided into FreeHand endoscope holder system, Da Vinci robotic surgery system, Telelap ALF-X surgical system, and Steerable Robotic Catheters.
The robot-assisted surgical systems market by product is categorized into surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmacy robots, and emergency response robotic systems.
Rehabilitation robots are categorized into assistive robots, prosthetics, orthotics, therapeutic robots, and robotic exoskeleton systems. Hospital and pharmacy robots are categorized into telemedicine robots, IV robots, pharmacy robots, and cart transportation robots.
Based on application, the robot-assisted surgical systems market is segmented into neurology, orthopedics robotic systems, laparoscopy, and special education.
On the basis of end user, the market is segmented into healthcare providers, healthcare payers, and others.
On the basis of region, the global robot-assisted surgical systems market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The robot-assisted surgical systems market in the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary
It is projected that the Americas dominated the global robot-assisted surgical systems market owing to the growth of the market in the North American region. This is largely attributed to factors such as well-established healthcare infrastructure and the increase in adoption of robotic surgical systems across various healthcare settings will support market growth in this region. Europe is expected to hold the second largest share in the robot-assisted surgical systems market owing to the introduction of advanced robot-assisted laparoscopic procedures and quality of treatment of existing and new medical indications.
Asia-Pacific was projected to be the fastest growing region for the global robot-assisted surgical systems market. With the growth of the overall robotics market in the region headed by technology giants like Japan and China, the availability of medical robots has also increased. In 2017, a robot performed the world’s first automated dental implant in China. The Middle East and Africa holds the least share in the global robot-assisted surgical systems market due to the presence of economically diverse countries, and fewer initiatives taken by the government.
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Detailed Table Of Contents
1 Report Prologue
2 Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
2.3 Market Structure
2.4. Market Segmentation
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
5 Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Mega Trends
4.5 Macroeconomic Indicators
5 Market Factor analysis
5.1 Porter’s Five Force Analysis
5.1.1 Bargaining Power Of Buyer
5.1.2 Bargaining Power Of Supplier
5.1.3 Threat From Substitute
5.1.4 Threat From A New Entrant
5.1.5 Intensity Of Competitive Rivalry
…Continued!
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