The global surgical robots market will derive growth from recent technological advancements that have enabled minimally invasive surgeries. According to a report published by Fortune Business Insights, titled “Surgical Robots: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 1,463.0 Mn in 2018. Fortune Business Insights predicts that the market will reach 6,875.1 Mn by 2026, thereby exhibiting a CAGR of 21.4% during the forecast period.
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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Top players in the surgical robots market include:
• Intuitive Surgical Inc.
• Smith & Nephew
• Zimmer Biomet
• TransEnterix Surgical, Inc.
• Verb Surgical, Inc.
• THINK Surgical, Inc.
“Rising Regulatory Approvals Identified as Chief Growth Driver”
As surgical robots are essentially dealing with sensitive parts of the body, regulatory authorities are somewhat reluctant to clear the products for usage. Having said that, recent advancements in surgical robots and the advent of high precision products have churned out several regulatory clearances.
Subsequently, increasing regulatory approvals will favor the growth of the surgical robots market. In 2019, Zimmer Biomet received clearance from the Food and Drug Administration (FDA) for the usage of its latest product ‘Rosa One Brain Application’.
“Minimally Invasive Robot-sssisted 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.
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1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Technological Advancements
4.2. Pricing Analysis, by Key Players
4.3. Detailed Product Mapping, by Key Players
4.4. Key Mergers & Acquisitions
5. Global Surgical Robots Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Application
5.2.1. General Surgery
5.3. Market Analysis, Insights and Forecast – By End User
5.3.2. Ambulatory Surgery Centers
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.3. Asia pacific
5.4.4. Rest of World
6. North America Surgical Robots Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Application
6.2.1. General Surgery
6.3. Market Analysis, Insights and Forecast – By End User
6.3.2. Ambulatory Surgery Centers
6.4. Market Analysis, Insights and Forecast – By Country