Surgical Robots Market Latest Research Report 2019: By Intuitive Surgical, Accuray Incorporated, Stryker, MEDTRONIC, Smith & Nephew, THINK Surgical, Inc., TransEnterix Surgical, Inc., Zimmer Biomet, Verb Surgical Inc., Auris Health

In this competitive market place, businesses are always in struggle to seek better solutions in terms of product trends, future products, marketing strategy, future events, actions or behaviours. The Surgical Robots Market report has reviews about key players, major collaborations, merger & acquisitions along with trending innovation and business policies. The report is generated based on the market type, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as Europe, North America, Asia-Pacific, South America, Middle East and Africa. Further, the Surgical Robots Market report also reviews key players, major collaborations, merger & acquisitions along with trending innovation and business policies.

The Surgical Robots Market is expected to reach USD 19,413.63 million by 2026 from USD 6,788.29 million in 2018, at a CAGR of 14.1% in the forecast period of 2019 to 2026. Also the Global Surgical Robots Market By Product Type (Instruments, Robotic Systems, Accessories and Services), Brands (DA Vinci Surgical System, CyberKnife, Renaissance, Artas, ROSA, Others), Application (General Surgery, Urological, Gynaecological, Gastrointestinal, Radical Prostatectomy, Cardiothoracic Surgery, Colorectal Surgery, Radiotherapy, Others), Geography (Europe, North America, Asia-Pacific, South America, Middle East and Africa) - Forecast to 2026

The first documented use of a robot-assisted surgery occurred in 1985, when the PUMA 560 robotic surgical arm which was used in very delicate neurosurgical biopsy and non-laparoscopic surgery. This surgery has led to the first laparoscopic procedure involving a robotic system a cholecystectomy in 1987. 1990 is marked as the year when AESOP system, the first system got the approval by the Food and Drug administration (FDA) for its endoscopic procedure. In 2000, the Da Vinci surgical system became the first robotic surgery system approved by FDA for general laparoscopic surgery.

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Competitive Analysis:

Intuitive Surgical, Accuray Incorporated, Stryker, MEDTRONIC, Smith & Nephew, THINK Surgical, Inc., TransEnterix Surgical, Inc., Zimmer Biomet, Verb Surgical Inc., Auris Health, Inc., Virtual Incision Corporation, Restoration Robotics, Inc. and others.

The market has witness developments in terms of merger and acquisitions, partnerships or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in November 2017, Verb Surgical Inc. announced a new strategic partnership with Getinge (Sweden). Both the companies together are developing a next generation surgical platform. The Verb Surgical Inc. and Getinge solution of Digital Surgery or Surgery 4.0 or will include advanced visualization, robotics, advanced instrumentation, connectivity data analytics/AI and operating room integration. Thus, it helped Getinge to enter the robotic surgery field gradually bringing a world class complementary technologies and a global footprint in surgery worldwide.

Market Trends:

Global surgical robots market is segmented into three notable segments which are product type, brands and application.

On the basis of product type, the market is segmented into robotic systems, instruments, accessories and services. In 2019, instruments segment is projected to lead with 59.3% shares and is growing with the highest CAGR of 15.1% in the forecast period of 2019 to 2026.

On the basis of brands, the market is segmented into Da Vinci surgical system, Renaissance, Cyberknife, Artas, ROSA and others. In 2019, Da Vinci surgical system segment is projected to lead with 79.6% shares and is growing with the highest CAGR of 15.2% in the forecast period of 2019 to 2026.

On the basis of application, the market is segmented into general surgery, urological, gynaecological, gastrointestinal, radiotherapy, radical prostatectomy, cardiothoracic surgery, colorectal surgery and others. In 2019, general surgery segment is projected to lead with 31.2% shares and is growing with the highest CAGR of 17.3% in the forecast period of 2019 to 2026.

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Drivers:

RISING AGEING POPULATION:

With increasing age, the patient pool for chronic disease is rising. Older populations are more prone to diseases such as diabetes, allergies, arthritis, cardiovascular diseases, infections, gastrointestinal and other problems.

According to the U.S. census the number of people aged 65 and older in the United States on July 1, 2015 were 47.8 million.

In 2017, as per the United Nation (World Population Prospects), the number of people ageing 60 or above in the world was about 962 million, which were around 13% of the total population across the globe. This is increasing at a rate of around 3% per year.

In 2017, according to United Nations, 25% of the European population was 60 or over. It is estimated that the rapid ageing would occur in other parts of the world too, so by 2050, except for Africa, all other regions of the world will nearly have a quarter or more of their populations in the aging age group.

There are various health issues which are affected by the senior citizens such as osteoporosis, Alzheimer’s disease, osteoarthritis, diabetes, cardiovascular diseases among other diseases which are rising in the demand of surgeries. The demand for surgeries is growing but the number of doctors is decreasing, in such situation the surgical robots can be very helpful as they would help in reducing the time span of surgeries. Hence, the ageing population is expected to drive the market for the surgical robots.

Challenge:

INCREASING COMPETITORS:

Intuitive Surgical is the leader in the robotics surgery space. The Da Vinci Surgical Systems developed by Intuitive Surgical was launched in 1999 that have been used in more than 3 million procedures till date around the world. Recently, Toronto based Titan Medical, unveiled recently its SPORT (Single Port Orifice Robotic Technology) surgical robot, which is similar to the Da Vinci system.

Other players also in the market include Auris surgical robotics, Cambridge, Vecna technologies, Sofar and Health robotics, Mazor Robotics, Cambridge Medical Robotics and Swisslog holds a very good position both in international market and domestic market but due to the rise in demand of innovative technology in the market.

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