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Robotic Surgery Equipment Market 2019 Latest Trends, Future Strategies And Global Industry Analysis by Surgical, Stryker, Mazor Robotics

10-22-2019 12:53 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: AllTheResearch

Robotic Surgery Market Report has been prepared based on an in-depth market analysis with inputs from industry experts. Robotic Surgery report covers the market landscape and its growth prospects over the coming years with leading players.

Robotic surgery is a non-invasive surgical procedure which is performed using a robotic-arms, surgeons console and a monitor equipped with tools and software. The robotic arms are equipped with the required instruments and accessories to perform the surgery. The robotic surgery is majorly performed for general surgeries such as bariatric surgery, hernia repair, gastrectomy; orthopaedic surgery, gynaecological surgery, urological surgeries, and neurosurgery. Currently, around 85% of the prostatectomies are performed using robotically assisted minimally invasive surgeries in the US.

The global robotic surgery market was valued at USD 4.1 billion in 2018 and is expected to reach USD 8.2 billion in 2026, growing at a CAGR of 9.6% during the forecast period. Growing adoption of advance surgical options, increasing incidence of chronic diseases and growing demand for non-invasive surgical options drive the growth of the Robotic surgery market

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Top Key Players
The major players operating in the global robotic surgery market are Intuitive Surgical (US), Stryker (US), and Mazor Robotics (US). Other players involved in this market are Hansen Medical (US), Smith & Nephew (UK), THINK Surgical (US), Medrobotics (US), Medtech (France), Renishaw (UK), and. TransEnterix (US), among others

Rising demand for advanced and non-invasive surgical options for hernia repair, orthopaedic diseases, and bariatric surgery boosts the adoption of robotic surgical systems across the globe. The growth of this market is attributed to the increasing government expenditure to develop healthcare infrastructure, increasing incidence of chronic disease which needs surgical solutions and increasing geriatric population with orthoepic disease. Also, favorable government regulation and reimbursement policies are likely to boost the adoption of robotic surgery in developed and developing economies during the forecast periods.

Recent News:
• In Sep 2019 Medtronic unveils its robot-assisted surgery platform to investors
• In Jun 2019, Medical device company Medtronic is partnering with Germany’s Karl Storz to boost its planned surgical robotic surgery platform.
• In Mar 2019, Smith & Nephew announced a product launches and investments that establish its multi-asset digital surgery and robotic ecosystem i.e. NAVIO 7.0 is the next version of Smith & Nephew’s handheld robotic surgical system.

Key Findings:
• Based on component, the instruments and accessories segment are expected to grow at the highest CAGR of around 18% during the forecast period
• Based on application, the general surgery segment is accounted for the largest share in the market in 2018
• Based on end user, the hospital segment accounted for 70% of the market in 2018 and expected to dominate the market throughout the forecast period
• North America accounted for around one third of the share of the global robotic surgery market in 2018

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On the other hand, the high cost associated with the installation and maintenance of robotic systems, availability cheaper surgical alternatives, lack of trained professionals might hinder the growth of this market to some extent. Also, negative perception towards robotic surgeries such as its efficacy and patient’s safety might result in the decreased demand for robotic surgery soon.

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About AlltheResearch:

AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realize, that it’s not just sheer data-points, but the right analysis that creates a difference.

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