Latest report on the Global Surgical Robots Market share can elevate at 18.94% CAGR during the forecast period (2016-2024). Regarding valuation, the worth of this market can be USD 19,596.61 Mn by the end of the forecast period.
Surgical robots are used for robotic-assisted surgery, a minimally invasive surgery, allowing doctors to perform many complex procedures with more flexibility, precision, and control, which is not possible with conventional techniques.
The rising patient acceptance for the use of surgical robots in medical procedures is not only leading to superior health outcomes but also increasing general awareness about computer-assisted surgeries.
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Major Industry Players
Big players in the global surgical robots market are
Stryker Corporation (USA)
Hansen Medical (USA)
Intuitive Surgical Inc. (USA)
Mazor Robotics (Israel)
Medtech SA (France)
Merck Co. & Inc (USA)
Medrobotics Corporation (USA)
Renishaw PLC (UK)
Smith & Nephew (UK)
TransEnterix Inc. (USA)
Verb Surgical Inc. (USA)
Surgical Robots Market Research Insights 2019 by Product Type (Instrument & Accessories, Robotic Systems and Services), by Application (Gynecologic Surgery, General Surgery, Cardiac Surgery, Urologic Surgery, Colorectal Surgery and Head and Neck Surgery), by Control Mechanism (Direct Telemanipulator and Computer Control), by End User (Hospitals and Ambulatory Surgical Centers) and by Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Global Forecast till 2024.
TABLE OF CONTENTS
1 Market Introduction
2 Research Methodology
3 Market Dynamics
3.2.1 Technological Advancements In Surgical Robots
3.2.2 Rising Preference For Minimally Invasive Surgeries
3.2.3 Increase In Funding For Surgical Robot Research
3.2.4 Rising Adoption Of Advanced Medical Technologies And Surgical Robots
3.3.1 High Cost Of Surgical Robots
3.3.2 Risks Associated With Robotic-Assisted Surgeries
3.4.1 Consolidation Of Large Healthcare Players
3.4.2 Great Research And Development
3.5.1 Infant Stage Of Development
3.5.2 Lack Of Compatible Instruments And Equipment
4 Market Factor Analysis
4.1 Porter’s Five Forces Model
4.1.1 Bargaining Power Of Suppliers
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of New Entrants
4.1.4 Threat Of Substitutes
4.1.5 Intensity Of Rivalry
4.2 Value Chain Analysis
4.2.3 Distribution And Sales
4.2.4 Post-Sales Review
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Geographical Segmentation of the global surgical robots market covers the Americas (North America & Latin America), Europe, Asia Pacific, and the Middle East & Africa (MEA).
During the forecast period, North America can hold the largest share in the global market due to the rising financial capability of hospitals to invest in robotic systems, strategic collaborations with other companies, growing demand for minimally-invasive surgeries, and the presence of important market players. Along with North America, the increasing prevalence of diseases like cancer and neurological disorders are boosting the market in Europe. The maximum market revenue in North America comes from the USA and Canada.
The growing demand for minimally invasive surgeries (or unmanned surgeries) and miniature robotics is also strongly shaping up the market Europe can become the second-largest regional market during the forecast period due to the increasing need for automation in the healthcare sector, technological advancements, and rising R&D investments. Due to the reasons that are same as the Americas, Western Europe is a bigger market compared to Eastern Europe. The most lucrative markets in this region are France, Germany, Italy, Spain, and the UK.
Asia Pacific region can emerge as the fastest growing regional market due to the increasing number of hospitals, presence of a vast patient population, and rapid development in technology. The presence of rising economies like China, India, and South Korea is also enabling the Asia Pacific market to grow at 23.36% CAGR during the forecast period.
The MEA market for surgical robots is expected to grow during the forecast period due to the developing healthcare infrastructure.
Global Surgical Robots Market Segmentation
Global Surgical Robots Market, by Product Type
- Instrument & Accessories
- Robotic systems
Global Surgical Robots Market, by Application
- Gynaecologic Surgery
- General Surgery
- Cardiac Surgery
- Urologic Surgery
- Colorectal Surgery
- Head and Neck Surgery
Global Surgical Robots Market, by Control Mechanism
- Direct Telemanipulator
- Computer Control
Global Surgical Robots Market, by End User
- Ambulatory Surgical Centers
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