The Surgical Robots Market size Valued at USD 1,463.0 Million in 2018 and is Projected to Reach USD 6,875.1 Million by 2026, Exhibiting a CAGR of 21.4%.
Surgical robots are used to perform computer-assisted surgeries in the presence and guidance of skilled surgeons. Surgical robots were manufactured to enable magnified images and efficient surgical operations within the intricate human anatomy. The ability of surgical robots to conduct precise hand movements without having to deal with shortcomings such as fatigue, instability, and distractions have enabled efficient surgical procedures within less time.
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This, in turn, has led to a rising uptake of surgical robots across the world. The need for zero or minimum margin of error has opened the doors for innovations and created a potential for surgical robots market growth, through the development of highly efficient products.
Furthermore, surgical robots help surgeons operate with the utmost stability and enhanced movements while dealing with neurological parts of the body, which in turn minimizes damage of healthy tissues. The aforementioned factors will contribute to an increase in the surgical robots market size and will help the market grow at a considerable rate in the forthcoming years.
“Minimally Invasive Robot-assisted Surgeries Will Favor Market Growth”
Recent technological advancements have enabled surgical operations through robots wherein the efficiency and time-to-completion have been unmatched by their human counterparts. The advent of minimally invasive surgical procedures due to rising demand for imaging techniques through infrared technology have led to a rising uptake of surgical robots across the world.
In April 2019, the Vanderbilt Institute for Surgery and Engineering (VISE) received a grant of an approximate US$ 2 Mn for the development of a surgical robot within a minimally invasive environment. The project revolved around prostate surgeries and would include operations through needle sized robotic arms.
Fortune Business Insights predicts that increasing adoption of minimally invasive surgeries through surgical robots will minimize the use of surgical stitches, thereby creating a huge demand among surgeons as well as end users across the world. The report studies the impact of product launches similar to VISE’s latest surgical robot and gauges the impact of these products on the surgical robots market.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Intuitive Surgical Inc., is a leading player in the market. Intuitive Surgical Inc. is likely to retain its position during the forecast period owing to its diversified product portfolio and strong distribution network globally. In order to strengthen the market position, robotic surgery companies are focusing the introduction of the procedure specific robotic system. Other players operating in the surgical robots market are Medtronic, Stryker, Smith & Nephew, Zimmer Biomet.
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Market Segmentation:
By Application
• General Surgery
• Gynecology
• Urology
• Orthopedics
• Others
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Rest of World
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