Polaris Market Research recently published a research report on “Surgical Robot Market Share, Size, Trends, Industry Analysis Report, By Application (General Surgery, Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, Others); By End-Use; By Regions; Segment Forecast, 2021 – 2028” in its research database.” in its research database.
According to the research report, the global surgical robot market size & share was valued at USD 2.37 billion in 2020 and is expected to reach USD 10.3 Billion by 2028, growing at a CAGR of 21.9% during the forecast period.
What are Surgical Robots? How Big is Surgical Robots Market Size?
A surgical robot is a robotic surgical system that enables surgeons to perform complex surgical tasks with more precision. A robotic surgical system is equipped with specialized technology that overcomes the inability of traditional minimally-invasive surgical procedures. Specialized technology consists of surgical arms, a special camera, and a surgical console. Surgical robots are often used by urologists, gynecologic surgeons, general surgeons, cardiothoracic surgeons, and colorectal surgeons.
High adoption of the surgical robot is seen in emerging nations due to its more effectiveness and minimal invasiveness in nature. Technological developments in the area of data recorders, high-definition microscopes, 3D imaging, data analytics, motion sensors, and remote navigations have led to a transformation in surgical robots. This is expected to create various applications fueling the surgical robots market growth during the forecast period.
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Some of the Top Market Players Are:
- Medtronic (Ireland)
- Stryker Corporation (US)
- Smith & Nephew (UK)
- Zimmer Biomet (US)
- Intuitive Surgical (US)
- and Others
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Key Growth Factors Are:
Increasing Use of Minimally Invasive Surgery to Drive the Market Demand
The rising adoption of nominal invasive surgeries is majorly driving the surgical robots market share growth. The growing investments by prominent local and regional players in the development of new and technologically advanced surgical robots are boosting market development. Increasing demand and usage of laparoscopic or minimal invasive surgery (MIS) due to its benefits, such as more precision, better screening, reduced pain, and less risk of infection, is further expected to propel the industry expansion.
Technical Developments Are Propelling the Global Market
A surge in approval for several firms operating in the market by FDA towards advanced R&D in robotics automation and image-guided surgery supported by high-end technological assistance is expected to positively influence the market growth during the forecast period. Also, the rising requirement for automation in the healthcare industry is one of the prominent factors fueling the surgical robots market size. Moreover, the surging number of gynecological and neurological diseases is augmenting the market surgical robots industry growth.
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- In 2019, Ethicon, a subsidiary of Johnson & Johnson, announced the acquisition of Auris Health, which is a developer of a robotic technology platform.
- In January 2019, Stryker Corp. acquired OrthoSensor, which is a privately held company operating in smart medical devices. Through this acquisition, the organization has expanded its product portfolio with innovative solutions for the healthcare sector.
Key Report Segmentation
The Robotics Systems Segment Dominated the Market
Based on the product & services segment, the market is segmented into instruments & accessories, robotic systems, and services. The robotics systems segment accounted for the largest share of the surgical robots market. The key factors contributing to the segment growth include the growing demand for minimally invasive surgeries (MIS) due to its benefits, such as limited cuts during critical surgeries, lesser disturbance on the operating surface, faster improvement, and more safety.
Neurosurgery segment witnessed the largest market share with an increased prevalence of health conditions
By applications, the surgical robots market is categorized into general surgery, gynecological surgery, urological surgery, neurosurgery, orthopedic surgery, and others. Of all, Neurosurgery held the largest market share in 2020 owing to the increased incidences of health diseases such as stroke, brain aneurysm, and neurological dysfunction among the population worldwide.
Report Scope: Surgical Robot Market
|Market Outlook for 2028||USD 10.30 Billion|
|Market Size 2020 Value||USD 2.37 Billion|
|Expected CAGR Growth||21.9% from 2021 – 2028|
|Forecast Year||2021 – 2028|
|Top Market Players||Medtronic (Ireland), Stryker Corporation (US), Smith & Nephew (UK), Zimmer Biomet (US), and Intuitive Surgical (US)|
|Segments Covered||By Product & Services, By Application, By End-Use, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
A Growing Number of Surgical Procedures in North America Is Likely to Positively Influence Surgical Robots Market Forecasts
Geographically, the surgical robots market in North America held a significant revenue share due to the escalating number of medical facilities adopting robotics surgery over traditional ones. Also, rising investments in robotics and growing healthcare spending by the U.S. government in the region are accelerating regional market growth.
Moreover, the surging number of chronic diseases such as cancer, diabetes, and cardiovascular diseases in the U.S. is propelling industry growth. According to FDA’s data, there has been high growth in the usage of robotics in the U.S. from 2005 to 2012. Continuous technological developments in the healthcare sector are anticipated to fuel the growth of the surgical robots industry throughout the forecast period.
Browse the Detail Report “Surgical Robot Market Share, Size, Trends, Industry Analysis Report, By Application (General Surgery, Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, Others); By End-Use; By Regions; Segment Forecast, 2021 – 2028” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/surgical-robot-market
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Polaris Market research has segmented the Surgical robots market report on the basis of product and services, end-use industry, application, and region:
By Product & Services Outlook
- Instruments & Accessories
- Robotic Systems
By Application Outlook
- General Surgery
- Gynecological Surgery
- Urological Surgery
- Orthopedic Surgery
By End-Use Outlook
- Ambulatory Surgery Centers (ASCs)
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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