Global Surgical Robotics Market Anticipated To Surge with Marvelous CAGR of 18.0% During 2020 to 2025
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Surgical Robotics Market Outlook
The surgical robotics market is driven by key factors such as rising cases of acute & chronic diseases, provides intuitive control & enhances visualization and better benefits to patients and surgeons. In addition, increasing geriatric population and advancement in technology are some of the factors that are raising the demand of the surgical robotics globally. However, safety issues over surgical robotics devices and high initial costs are some of the factors restraining the growth of this market. Whereas, rising patient preference for minimally invasive surgeries and increase in funding for medical robots research are some opportunities which is anticipated to drive this market. For instance, Intuitive Surgical, a U.S. based company that manufactures da Vinci surgical system and is one of the leading surgical robots manufacturer.
Surgical Robotics Market Segmental Overview
The surgical robotics market is segmented by components, surgery type and geography
Surgical Robotics Market by components
The surgical robotics market based on component is bifurcated into surgical systems, accessories and software & services. Among these, the accessories segment dominated the surgical robotics market globally in 2018. After each surgical procedure accessories are replaced, thus contributing to the market revenue. In addition, the software & services segment are expected to be the fastest growing segment due to the high maintenance required by these systems.
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Surgical Robotics Market by Surgery Type
The various surgery types of the surgical robotics market are covered in the report such as general surgery, urological surgery, gynecological surgery, neurosurgery, orthopedic surgery, interventional cardiology and laparoscopy. The gynecological surgery holds a dominant position in the market owing to the increasing adoption rate by the U.S. gynecologists in conducting procedures, such as prostatectomy.
Surgical Robotics Market by Geography
On the basis of geography, the global surgical robotics market is studied across the countries of key regions such as North America, Europe, Asia Pacific and Rest of the world. North America comprises of United States, Canada and Mexico. Whereas, Europe primarily covers Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific, The rest of world include Latin America and Middle East Africa are the key segments covered in the report. Among these, the North America region dominated the market globally in 2018. This is mainly attributed to high presence of robotic surgical system manufacturers in the U.S. Whereas, the Asia-Pacific is poised to record the highest growth rate in the world, owing to the growing demand in countries, such as India, China, and Japan. With the growth of the overall robotics market in the region headed by technology giants, like Japan and China, availability of medical robots has also increased.
Surgical Robotics Market Key Players
Prominent players in the surgical robotics market are Accuray Inc, Auris Surgical Robotics, Inc., Blue Belt Technologies, Inc. (Smith and Nephew), Hocoma, Intuitive Surgical Inc., KUKA AG, Medrobotics Corporation, Medtech S.A, Mazor Robotics, Restoration Robotics, Inc., Renishaw Plc, Synaptive Medical, Stryker Corporation, Transenterix Inc., Virtual Incision Corporation and Zimmer Holdings, Inc. New product launches, mergers & acquisitions are the key strategies adopted by market players to ensure their growth in the market. For example, in April 2017, Intuitive Surgical for its latest da Vinci X system received a CE marking in Europe.
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Why to buy this report:
•The report offers changing market dynamics in the surgical robotics market, presenting historical, current and projected market size in terms of value (USD Million)
•The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of surgical robotics, such as medical robots market, instruments & accessories market, robotic systems market etc.
•It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the surgical robotics market performance
•The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of surgical robotics market
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