Improving healthcare IT infrastructure and increasing adoption of minimally invasive surgeries across the globe to drive global surgical robots market through 2025.
According to TechSci Research report, “Global Surgical Robots Market By Component, By Mechanism of Control, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2025”, the global surgical robots market is expected to grow at around 15% CAGR during 2020 – 2025 on account of widespread adoption of robotic assisted surgeries in various hospitals, clinics and ambulatory surgical centers. Additionally, increasing geriatric population coupled with increasing demand for automation is further expected to propel the market during forecast period. Furthermore, surgical robots make it easier for the surgeons to carry out complex procedures with comparatively smaller incisions. Similarly, they provide a better view of access of incision sites as well as improves the efficiency of the entire procedure. Moreover, surgeries done with the assistance of surgical robots require less time as compared to the conventional surgeries. Also, there is less pain, shorter hospital stays and lesser post operation complications. These factors are anticipated to positively impact the growth of market. Besides, increasing regulatory approvals by the FDA and other regulatory agencies is expected to bolster the growth of market across the globe. However, high initial investments and high cost of installation can hamper the growth of market during forecast period. Additionally, mechanical failures and technical glitches experienced during the surgical procedures impede the market growth. Furthermore, increase in mortality rate and injuries during robotic surgeries are expected to restrict the growth of market during the next five years.
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The global surgical robots market is segmented based on component, mechanism of control, application, end user, company and region. Based on component, the market can be categorized into systems, instruments and accessories and services. The services segment is expected to register the highest growth during forecast period owing to the increase in the number of robotic surgeries. This rise in the use of surgical robots in surgical procedures can be ascribed to the growing geriatric population suffering from chronic diseases such as cancer, cardiovascular diseases, diabetes, among others. Based on application, the market can be segmented into Orthopedic Surgery, Endometriosis, General Surgery, Neurosurgery, Thoracic Surgery, Colorectal Surgery, Gynecology, Heart Surgery, Urologic Surgery and Others. The General surgery segment is expected to dominate the market on account of the extensive use of surgical robots in multiple surgeries including abdominal contents (stomach, esophagus, etc.), skin, soft tissue and musculoskeletal system, breast, head and neck, vascular system, endocrine system and alimentary tract. The use of surgical robots in these procedures improves the precision, control and skill of the surgery and offers high quality operating interventions to the patients. Based on end user, the market can be fragmented into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics segment is anticipated to dominate the market attributable to the growing focus on carrying out surgeries with better precision. Additionally, use of surgical robots ensures ease and comfort to the surgeon also.
Intuitive Surgical, Stryker Corporation, Medtronic Plc., Smith & Nephew, Johnson & Johnson, Medrobotics Corporation, TransEnterix, Inc., Zimmer Biomet Holdings, Inc., Renishaw Plc., Think Surgical, Inc., Siemens Healthineers AG, CMR Surgical Limited, Corin Group Plc., Preceyes BV and others are some of the leading players operating in global surgical robots market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in March 2019, Smith & Nephew, a global medical technology company, announced the product launch of Navio Surgical System and its investment, which would help in establishing its multi-asset robotic and digital surgery and ecosystem. The NAVIO 7.0 is designed for improving the surgeon experience through expanded surgical preferences, streamlined workflow and a new intuitive interface which would reduce the surgery time as compared to the previous version.
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“North America is expected to dominate the surgical robots market during the forecast years, owing to the high R&D funding in surgical robots. Additionally, presence of well-established healthcare infrastructure in the region is further anticipated to spur the market through 2025. Moreover, presence of key manufacturers in the region is expected to create lucrative growth opportunities until 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Surgical Robots Market By Component, By Mechanism of Control, By Application, By End User, By Region, Competition, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global surgical robots market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global surgical robots market.
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