The robotic surgery market refers to the industry that involves the development, production, and sale of robots that are used for medical procedures. These robots are designed to assist surgeons in performing complex and minimally invasive surgeries. They are equipped with advanced technology such as high-definition cameras and specialized instruments that allow for precise and delicate movements.
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The use of robotic surgery has increased in recent years due to the benefits it offers over traditional surgery. These benefits include shorter recovery times, reduced risk of complications, and improved patient outcomes. As a result, the demand for robotic surgery technology has grown, leading to the expansion of the market.
- Intuitive Surgical, Inc.
- Auris Surgical Robotics
- Medtech SA (Sub. Zimmer Biomet)
- Accuracy Inc.
- Smith & Nephew plc
- Stryker Corporation.
- Corindus Vascular Robotics
- Renishaw plc.
- Mazor Robotics
- TransEnterix Surgical, Inc.
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There are a number of key players in the robotic surgery market, including Intuitive Surgical, Stryker, and Medtronic. These companies offer a range of robotic surgery systems that are used for a variety of medical procedures, including gynecology, urology, and cardiovascular surgery.
The global robotic surgery market is expected to continue to grow in the coming years, with increasing adoption of the technology in both developed and developing countries.
Regional markets to face hurdles due to failure in complying with global regulatory standards
Obtaining regulatory approvals is not an easy task. When companies modify existing products or develop new products, they must receive permission from the regulatory bodies of the respective countries. Along with regulatory approvals, robotic surgery systems require additional testing, certification, modification and amendments of their already existing market approvals
When a product is exported to another country, companies may be required to modify their pre-installed systems at various facilities to comply with the revised regulations. This complicates the process of exporting the products, further hindering the demand for robotic surgery systems in foreign countries.
There is also a lot of negative publicity surrounding the use of robotic systems in surgeries. Efficacy and patient safety associated with robotic surgeries has been questioned a number of times in statements by public officials and their concerns may hinder the global acceptance of robotic surgical systems.
This may, in effect result in decreased product demand and a decline in sales revenue. In addition, it could also lead to an increase in the number of product liability claims, irrespective of whether they are relevant.
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