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Surgical Robots Market Statistics to Reach USD 17,647.82 million by 2028 says, The Insight Partners

January 19th, 2023 The Insight Partners Releases

The surgical robots market is projected to reach US$ 17,647.82 million by 2028 from US$ 6,839.07 million in 2021. It is expected to register a CAGR of 14.8% from 2022 to 2028.

Surgical robots are used for minimally invasive surgery and enable precise manipulation of surgical instruments beyond human ability in a small operation space. It is a broad concept that encompasses many common procedures, such as urological surgery, orthopedic procedure, laparoscopic cholecystectomy (gall bladder excision), gynecological surgery, and others.

Download sample PDF Copy at: https://www.theinsightpartners.com/sample/TIPRE00003741/

The cost of overall healthcare is surging significantly in North America. The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the US in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% of them reported that they needed care but were not scheduled or received care.

Intuitive Surgical; Stryker; Zimmer Biomet; Smith+Nephew; Johnson & Johnson Services, Inc.; Siemens Healthineers; Renishaw plc; Asensus Surgical, Inc.; THINK Surgical, and Medtronic are some of the leading market players in the global surgical robots market.

Based on components, the market is segmented into instruments and accessories, robotic systems, and services. Instruments and Accessories to hold the largest share of the components segment in the global surgical robots market during 2022–2028 and is expected to be around US$ 9,673.90 million by 2028 from the  US$ 3584.57 million in 2021; it is estimated to grow at a CAGR of 15.5% during 2022–2028. The report highlights the key factors driving the surgical robots market and prominent players with their developments in the global surgical robots market. Rising expenditure to develop healthcare infrastructure coupled with rising research and development proficiencies to make advancements in healthcare technology is further propelling growth in the global surgical robots market value. Increasing patient preference for minimally invasive procedures and increasing personal disposable income are some other market growth determinants.

Inquiry Before Buying at: https://www.theinsightpartners.com/inquiry/TIPRE00003741/

Regarding the surgical procedure itself, the fewer the surgical team members, the lower the possibility of contamination. While robots-assisted surgery can lessen the risk of contamination, contactless remote robotic surgery, which can be performed with the patient’s presence in the operating theatre, would be the ideal situation for preventing virus spread. This visionary environment would allow surgeons to continue operating during pandemic-like situations without fearing additional infection.

Furthermore, the chaotic situation was created in the healthcare industry across the countries, leading to a reduced number of consultations and a smaller number of cancer cases diagnosed. For instance, international efforts suggest that the diagnoses of cancers were reduced by 40% between March 9, 2020, and May 17, 2020, compared to diagnoses averaged over the same period in 2018 and 2019. In its disruption of clinical trials and drug supply to patients, the COVID-19 pandemic impacted the most crucial areas of the global surgical robots market.

Surging Number of Surgical Procedures Drives Global Surgical Robots Market

There is a rise in the number of surgeries performed across the world. In the last 25 years, the incidence of cardiovascular diseases has increased globally. The rise in diabetic cases and lifestyle changes are leading to an increase in the number of cardiovascular surgeries and general surgeries. For instance, colorectal cancer is one of the most commonly found and lethal cancers developed in individuals due to the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer is the third most prevalent form of cancer, with ~1.93 million global cases in 2020.

Furthermore, colorectal cancer mortality and incidence rates vary globally, and ~916,000 deaths in 2020 were associated with it. It is the third most common type of cancer in men and the second most common cancer in women. The lifetime risk of developing colorectal cancer is about 1 in 23 for men and 1 in 25 for women. ~95,55,027 cancer deaths were recorded in 2018, of which 8,80,792 were related to colorectal cancer. Therefore, colorectal cancer was identified as the third most common cancer and the second highest death-causing cancer. Therefore, the increasing number of colorectal cancer incidences has resulted in the surging demand for surgical robots.

Place an Order Copy of This Report (Single User License) at: https://www.theinsightpartners.com/buy/TIPRE00003741/

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

We are committed to provide highest quality research and consulting services to our customers. We help our clients understand the key market trends, identify opportunities, and make informed decisions with our market research offerings at an affordable cost.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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