Growing demand for robot assisted minimally invasive surgeries is predicted to acquire the highest accuracy and success rate and boost market growth.
Market Size: USD 5.86 billion in 2019
Market Growth: CAGR of 14.8%
Market Trends: Widespread use of surgical robots in ambulatory care units for minimally invasive surgeries.
The Global Robot Assisted Surgical Systems Market is predicted to escalate from USD 5.86 billion in 2019 to USD 17.80 billion in 2027, with a CAGR of 14.8%. The market is driven at a massive rate as the ambulatory care centers and hospitals around the globe are increasingly adopting robotic surgeries due to their ability to perform complex procedures with minute accuracy, control, and versatility compared with other traditional manual processes.
Initially, robot assisted surgical systems were used in minimally invasive techniques but its fine precision has also resulted in the applicability of robotic assistance in many open surgical procedures. Robotic surgical methods offer various benefits over the conventional methods such as small or no scars, fewer invasions, less complications, and quicker recovery rate. More hospitals and surgeons are inclined to implement robot-assisted surgical methods to attain better precision in the surgery.
Surgical robots are capable of performing trajectory depth and speed of their movements precisely. These surgical robots are specially designed for procedures requiring identical and repetitive movements and surgeries as they are capable of working without any fatigue and great accuracy. These robots are designed with the help of artificial intelligence and deep understanding that enables them to perform surgeries with precision beyond the pre-programmed mobility.
Due to the high efficiency and precision that the surgical robots offer, and the rising demand for minimally invasive surgeries, the market is seen to flourish.
As the global pandemic has impacted the market, key players and manufacturers are coming up with new ideas for production and sales to meet the required demand of the pandemic. The manufacturing units have been disturbed and the supply chain has been affected drastically.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/robot-assisted-surgical-systems-market
Further key findings:
- Based on type, neurosurgery gained a significant share in the market in 2019 and is assumed to grow at a CAGR of 12.3% during the forecast period owing to accurate and precise procedures.
- The advanced computer navigated and robotic techniques used for spinal surgeries is expected to fuel the market growth as these techniques are in demand due to improved precise implant placements.
- The hospital and clinics sector held the highest share of 69.7% in 2019. Due to the recent technological advances and adoption of robot-assisted surgeries by hospitals and doctors, the segment is expected to expand.
- The surgical robots held the largest market share of 2019 due to the high investment rate for designing and development and use of surgical robots in full-fledged robotic surgeries. Surgical robotics uses various applications such as data science, micro-instrumentation, flexible robotics, and for other medical purposes in diagnostic, surgical, and therapeutic procedures.
- North America led the highest share of the robot assisted surgical systems market in 2019. The improved healthcare technology, cognizance regarding minimally invasive surgeries, and accuracy in surgery are some significant factors growing the market demand.
- The European region has some of the essential players in the market.
- The overall increase in the investments in the healthcare industry of the Asia Pacific region resulted in a comparative higher customer base.
Key participants in the market:
- Intuitive Surgical
- Stryker Corporation
- Medrobotics Corporation
- Medtronic
- Transenterix, Inc.
- Auris Health, Inc.
- Omnilife Science, Inc.
- CMR Surgical
- Transenterix, Inc.
- Smith & Nephew
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For the purpose of this study, Reports and Data has segmented the robot assisted surgical systems market on the basis of type, component, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Emergency Response & Utility Robots
- Surgical Robots
- Rehabilitation Robots
- Others
Component Outlook (Revenue, USD Billion; 2017-2027)
- Software
- Hardware
Application Outlook (Revenue, USD Billion; 2017-2027)
- Gynecological Surgery
- Non-Invasive Radiosurgery
- Urological Surgery
- Neurosurgery
- Orthopedic Surgery
- Emergency Response Robotic System
- General Surgery
- Utility Robotic System
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
- US.
Europe
- UK.
- France
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
Middle East & Africa
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Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Robot Assisted Surgical Systems Market Segmentation & Impact Analysis
4.1. Robot Assisted Surgical Systems Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Substantial demand for minimally invasive surgery
4.2.2.2. Increasing growth of robotics technique
4.2.2.3. Increasing investment in the robotics surgery
4.2.3. Market restraints analysis
4.2.3.1. Lack of skilled surgeons
4.2.3.2. Detrimental growth of in the low performing regions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. COVID-19 Impact Analysis
4.11. Global Recession Influence
Continued………
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