Market Size – USD 4.12 Billion in 2019, Market Growth – CAGR of 10.3%, Market Trends– Advancements in surgical robots and improved regulations governing surgical procedures.
Rising technological advancements and surging need for robot-assisted surgeries would boost market growth in the forecast period.
The global Surgical Robots Market is expected to be valued at USD 9.11 Billion in 2027 from USD 4.12 Billion in 2019, registering a CAGR of 10.3% through the forecast period. Surgical robots involve in the surgical procedures, that are mainly assisted by robots added with numerous advanced systems for reducing various human errors including trembling at the time of operations. Due to the technological advancement, these robots are taking a part in minimally invasive surgeries. Such robots exhibit extreme potential to grow, since they aid in reducing the necessity of the surgeons’ presence at the operation theatre. For the sector of surgical robots, the primary growth factors are rapid technological advancement, and the increasing road accidents. Moreover, the growing accidental ratios, and the demand for having better aesthetics are propelling the industry’s growth.
Furthermore, the growing population, and the soaring demand for minimally invasive surgeries compared to the conventional procedures are fueling the industry growth. Additionally, the government initiatives and awareness about these procedures, and the rising individual’s spending capacity are gaining traction.
The industry for surgical robots is highly fragmented with the presence of leading players including:
Stryker, Intuitive Surgical, Mazor Robotics, Hansen Medical, Smith & Nephew, Renishaw, Think Surgical, Transenterix, Zimmer Biomet, and Medtech.
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However, the high expense of robotic surgeries is hampering the market’s growth. Moreover, the increasing rate of injuries and deaths caused by robotic surgeries is further impeding the industry’s expansion.
For the purpose of this report, Reports and Data has segmented the Surgical Robots Market on the basis of component, application, end-use, and region:
Component Outlook (Revenue in USD Million; 2017–2027)
- Robotic Systems
- Instruments & Accessories
Application Outlook (Revenue in USD Million; 2017–2027)
- Orthopedic Surgery
- Gynecologic Surgery
- Cardiothoracic Surgery
- General Surgery
- Plastic Surgery
End-Use Outlook (Revenue in USD Million; 2017–2027)
- Ambulatory Surgical Centers
Surgical Robots Market Analysis, By Components (Surgical Accessories, Systems), By Application (Neurosurgery, Orthopedic Surgery, Gynecological Surgery), By End-Use (Ambulatory Surgical Centers, Hospitals), And Region, Forecasts To 2026, To get a detailed Table of Content, Visit Here: https://www.reportsanddata.com/report-detail/surgical-robots-market
Further key findings from the report suggest
- The global industry players are facing cut throat competition in terms of products innovation. For example, in December 2017, a renowned medical organization—Think Surgical Inc. had announced that it achieved a clearance by U.S. Food and Drug Administration for marketing TSolution, a system aiding the knee replacement in the U.S.
- The competition in the industry has become intensified, because of the escalating demand for modern surgeries. The companies are signing agreements for gaining foothold in the market.
- In 2019, Stryker acquired Mobius Imaging and Cardan Robotics along with spreading its hands-on navigation system and Orion robotics for interventional and surgical radiology. Such companies are expanding for ensuring better accessories and systems to be incorporated in surgical robots.
- The growth in the geriatric population would accelerate the sector’s expansion, especially in the orthopedic sub-segment.
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. Hike in technological Advancements
3.1.2. Growing demand for minimally invasive procedures
3.1.3. Increasing investment in R&D
Chapter 4. Global Surgical Robots Segmentation & Impact Analysis
4.1. Global Surgical Robots Segmentation Analysis
4.2. Industrial Outlook
4.3. Market Indicators Analysis
4.3.1. Market Drivers Analysis
126.96.36.199. Advantages offered by Surgical Robot research
188.8.131.52. Growing Applications in the pharmaceutical sector
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