Surgical Robots Market Overview
Surgical Robots Market size is projected to record a CAGR of 17% to realize USD 13.7 Billion by 2027.
Robotic surgery enables doctors to have a superior perspective of the operating region by utilising high-definition cameras to illustrate minute components. These technologies have higher dexterity than the human hand; their 360-degree rotation and agility enable surgeons to reach previously inaccessible locations. These advantages of surgical robots, combined with the growing demand for more efficient healthcare services, are projected to propel the surgical robots market forward in the approaching years.
Surgical robots help doctors to perform more precise difficult surgical procedures. They are primarily utilised in gynaecological, urological, orthopaedic, and general surgery, as well as in neurosurgery and other minimally invasive procedures. The advantages of robotic-assisted surgery, technological developments in surgical robots, increasing use of surgical robots, and increased financing for medical robot research all contribute to the market’s growth. Globally, demand for minimally invasive surgeries (MIS) is increasing, owing to the numerous benefits associated with these operations, including smaller incisions, fewer cuts, reduced scarring, decreased discomfort, increased safety, shorter recovery times, and significant cost savings. Robotic minimally invasive surgery enhances these benefits by improving precision, repeatability, control, and efficiency.
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The COVID-19 pandemic has wreaked havoc on the global population and economy. Healthcare systems have been significantly strained by the pandemic. Throughout this time period, healthcare institutions and providers have been urged to suspend elective surgical procedures and medical tests in order to reduce the risk of transmission and conserve healthcare resources for COVID-19 patients. The pandemic has resulted in a temporary worldwide restriction on elective procedures, which has resulted in the cancellation of elective surgeries, resulting in a detrimental impact on the global economy.
The surgical robots market is categorised according to product type, application, end user, and control mechanism.
The market is segmented according to product type into cardiac surgery, colorectal surgery, general surgery, gynecologic surgery, head and neck surgery, and urologic surgery.
The global surgical robot market is further categorised by application into robotic systems, services, and instrumentation and accessories.
Additionally, the market is categorised by control mechanism into direct telemanipulator and computer control.
The market is segmented by end user into hospitals and ambulatory surgical centres.
The Americas is expected to account for the lion’s share of the global surgical robots industry. The North American region is expected to dominate the market, owing to hospitals’ increasing financial ability to invest in robotic systems, planned partnerships with other companies, growing patient acceptance of surgical robots in medical practises, which results in improved healthcare outcomes, and increasing general awareness about computer-assisted surgeries.
Europe is expected to account for the second-largest surgical robots market share throughout the projection period. The factors driving market growth in this area include the growing requirement for automation in the healthcare sector and the growing need for minimally invasive surgery and tiny robotics.
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The Asia Pacific regional surgical robotics market is expected to grow at the quickest rate in the overall market, owing to a large patient population, an increasing number of hospitals, and rapid technological advancements that would promote the growth of the robotic surgery equipment market.
The notable players of the market are Intuitive Surgical, Inc. (US), Stryker Corporation (US), Mazor Robotics (Israel), Hansen Medical (US), TransEnterix, Inc. (US), Medtech SA (France), Merck Co. & Inc (US), Verb Surgical Inc. (US), Smith & Nephew (UK), Renishaw PLC (UK), Medrobotics Corporation (US).
Table of Content
1 Market Introduction
1.1 Definition 13
1.2 Scope Of The Study 13
1.3 Market Structure 13
2 Research Methodology
2.1 Research Process 14
2.2 Primary Research 15
2.3 Secondary Research 16
2.4 Market Size Estimation 17
2.5 Forecast Model 17
3 Market Dynamics
3.1 Introduction 18
3.2 Drivers 19
3.2.1 Technological Advancements In Surgical Robots 19
3.2.2 Rising Preference For Minimally Invasive Surgeries 19
3.2.3 Increase In Funding For Surgical Robot Research 20
3.2.4 Rising Adoption Of Advanced Medical Technologies And Surgical Robots 20
3.3 Restraints 21
3.3.1 High Cost Of Surgical Robots 21
3.3.2 Risks Associated With Robotic-Assisted Surgeries 21
3.4 Opportunities 21
3.4.1 Consolidation Of Large Healthcare Players 21
3.4.2 Great Research And Development 21
3.5 Challenges 22
3.5.1 Infant Stage Of Development 22
3.5.2 Lack Of Compatible Instruments And Equipment 22
4 Market Factor Analysis
4.1 Porter’s Five Forces Model 23
4.1.1 Bargaining Power Of Suppliers 24
4.1.2 Bargaining Power Of Buyers 24
4.1.3 Threat Of New Entrants 24
4.1.4 Threat Of Substitutes 25
4.1.5 Intensity Of Rivalry 25
4.2 Value Chain Analysis 26
4.2.1 R&D 26
4.2.2 Manufacturing 26
4.2.3 Distribution And Sales 26
4.2.4 Post-Sales Review 27
5 Surgical Robots Market, By Product Type
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