The research study on Robot-Assisted Surgical Medical Device Market, recently released by Markntel Advisors comprises facts and information obtained from various legitimate sources to provide an explained and effortless interpretation of the future state of the market according to past data. Analysts at Markntel Advisors evaluated the obtained material and data, gaining insights and the working of the industry to provide the data in a systematic order along with the predictions and future insights presented to the shareholder based on the past evaluation.
Market Overview –
- Regional Dividation: North American Region Accounted For A Significant Share
The Robot-Assisted Surgical Medical Device market is divided across North America, South America, Europe, Asia Pacific, the Middle East & Africa region. Of all the regions, the North American region accounted for a significant share of the Global Robot-assisted Medical Device market during 2017-2021 due to the presence of companies such as Zimmer Biomet, Medtronic, and Globus Medical, among others, which manufacture & market robot-assisted medical devices. North America is the early adopter of the latest technologies & the region now serves as a technological hub for companies offering advanced solutions to the healthcare market.
- Market Ongoing Trends: Operating Lease Programs Implemented by the Surgical Robotic Manufacturers
The market for surgical robotics is continuously emerging as more than 70 companies are trying to tap the hidden potential by developing novel technologies & targeting different surgical applications. Intuitive Surgical, Inc. is a pioneer in this field & has established multiple sales channels to maintain market dominance to reduce the risk of indulging in business as usual. The company has strategically adopted an operating leasing program to enter the next level of revenue-generating growth strategy.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 10.59% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, France, Italy, The UK, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of Middle East and Africa | |
| Key Companies Profiled | Medtronics PLC, CRM Surgical, Stryker Corporation, Johnson & Johnson (Auris Health), Intuitive Surgical Inc. Titan medical, THINK Surgical Inc, Other |
| Unit Denominations | USD Million/Billion |
Further, the overall impact of this growth strategy has fueled its revenue by leasing its system. Hence, in order to tap into emerging & low-income markets, system leasing could facilitate market penetration & would be a key trend for the Global Robot-assisted Surgical Device market.
- Covid-19 Impact Analysis
Robot-assisted Surgical Device market experienced a steep decline due to the outbreak of the COVID-19 pandemic. The tremendously increasing COVID-19 affected patients were the prime concern of all healthcare workers across the world. In both developed & developing countries, there was a shortage of medical consumables, hospital beds, and available doctors due to the substantial increase in patients.
Therefore, cardiovascular, cancer-related & other minimally invasive surgeries were halted, which negatively impacted the robotics-assisted market globally. Additionally, the government & private hospitals heavily invested in providing basic amenities to their patients, which, in turn, affected the sales of RASD across various regions.
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Further Significant Questions We Answered in Our Report –
- Who are the key participants in the industry, and how have they sculpted the market?
- What are the market players’ current strategies, business plans, and initiatives to continue their foothold in the industry and expand further?
- Which segment of the market is most profitable and why?
- What are the current trends that are driving the industry?
- What are the opportunities and obstacles in the growth of the market?
Report Table of Content
- Introduction
- Research Process
- Assumption
- Market Segmentation
- Market Definition
- Executive Summary
- Impact of COVID-19 on Global Robot-assisted Surgical Devices (RASD) Market
- Global Robot-assisted Surgical Devices (RASD) Market Trends & Insights
- Global Robot-assisted Surgical Devices (RASD) Market Dynamics
- Growth Drivers
- Challenges
- Global Robot-assisted Surgical Devices (RASD) Market Hotspot and Opportunities
- Global Robot-assisted Surgical Devices (RASD) Market Value Chain Analysis
- Global Robot-assisted Surgical Devices (RASD) Market FDA Approvals, 2017-2022
- Global Robot-assisted Surgical Devices (RASD) Market Patent Landscape
- Global Robot-assisted Surgical Devices (RASD) Market Outlook, 2017- 2027
Growth Opportunity and Driver of Market–
- Development of Low-cost Surgical Robotic Systems to Create a Great Opportunity for the Market
Artificial intelligence in surgical robotic systems will give companies new opportunities to make work safer, increase productivity, and save the valuable time of the end-users. Artificial intelligence is an attempt to eliminate or even minimize the risk of human error. Robot-assisted surgical devices that are enabled with artificial intelligence offer high accuracy in assisting microsurgical procedures in reducing the variations that could affect the health of the patients. In addition, several surgical robotic manufacturers are heavily investing in integrating the benefits of artificial intelligence in their surgical robotic systems.
- Rising Demand for Minimally Invasive Surgical Procedures to Escalate the Market Growth
From complex vascular procedures to gynecological procedures, surgical robotics has found its application in various surgical procedures. The rising inclination of the patients toward minimally invasive surgeries on account of the reduced hospital stay, patient recovery time, lesser patient trauma, and post-operative pain has positively contributed to the growth of the Robot-assisted Surgical Devices market. Therefore, the surgical robotics market is anticipated to witness considerable growth in the upcoming years as the demand for minimally invasive surgical procedures propels.
Industry Divisions and Distributions
By dividing and bifurcating the industry based on varying Segments, the reports help breaks down the market into sections to help shareholders point out their focus of attention and figure out the most profitable quarters.
The Robot-Assisted Surgical Medical Device market is diversely fragmented and spread across various bifurcations. The report aims to categorize and systematically present the data in an organized, easy-to-interpret format by dividing the bifurcations into segments. Each segment is then further presented with historical data, market growth, expansion, technological advancement, and other factors affecting it. The prediction of its future growth depends on current trends and further development. The industry segmentations bifurcate across the following segments:
By Application
- Gynaecological Surgery
- Cardiovascular Surgery
- Neurosurgery
- Orthopaedic Surgery
- Urology Surgery
- Other (Colorectal, Ear Nose Throat(ENT), etc.)
By End User
- Hospitals
- Ambulatory Surgery Centres
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Examination of The Market’s Top Leaders
To explain the dominance of competitors and the market, the report provides the major moves, developments, acquisitions, launches, and more performed by the key players influencing the market. The prominent players profiled in the report include: –
- – Medtronics PLC
- – CRM Surgical
- – Stryker Corporation
- – Johnson & Johnson (Auris Health)
- – Intuitive Surgical Inc.
- – Titan medical
- – THINK Surgical Inc.
- – Asensus Surgery (Formerly: TransEnterix Surgical)
- – SRI International Inc.
- – Renishaw PLC
- – Smith & Nephew PLC
- – Brainlab
- – NuVasive Inc.
- – Synaptive Medical
- – Others
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