U.S. Surgical Robots Market -Analysis and Forecast To 2024, Medrobotics Corporation, Varian Medical Systems, Stereotaxis, Inc., Titan Medical Inc., Think Surgical Inc., and TransEnterix, Inc.

Industry Overview
The U.S. surgical robot market is expected to grow at a CAGR of 9.5% during the forecast period with its market size predicted to reach USD 4,430.7 million by 2024. The U.S. surgical robots market is primarily driven by the technological advancements, high prevalence of neurological disorders, high healthcare expenditures, benefits of surgical robots, increasing number of research and development activities, increasing geriatric population, and presence of large number of industry players. The Vinci Surgical System, Renaissance Surgical System, Mazor X are the key brands primarily adopted in the U.S. market.

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Growth Drivers
Technological advancements, high prevalence of neurological disorders, and benefits of surgical robots are the key factors leading to the growth in the U.S. surgical robots market. Surgical robots provide enhanced visual field, superior dexterity, and precision in hard to reach places during the surgery. Also, these systems help in reducing the hospital stays time, better outcomes, and shorter recovery time. All these factors lead to increase in demand for these systems in the country.

Challenges
Stringent regulatory norms, high cost of robotic systems are the key factors hindering the growth of the market in the U.S. Stringent regulatory norms set by the U.S. Food and Drug Administration (FDA) hinder the approval of the new robotic systems in the U.S. The approval gets delayed due the stringent regulations and thus industry players have to wait for many years before their product gets approval for the marketing.

Competitive Insight
Acquisition has been the key strategy used by the market players to enter into the surgical robots industry. Large medical technology companies are acquiring innovators to attain the technology to manufacture and market surgical robots. In September 2018, Medtronic plc and Mazor Robotics entered into a definitive merger agreement under which Medtronic will acquire all outstanding ordinary shares of Mazor for $58.50 per American Depository Share, or $29.25 (104.80 ILS) per ordinary share, in cash, for a total of approximately $1.64 billion, or $1.34 billion net of Medtronic's existing stake in Mazor and cash acquired. The acquisition is to accelerate Medtronic's strategy to transform spinal procedures and improve outcomes through fully-integrated surgical solutions.

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Some of the key players operating in the U.S. surgical robots industry are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics (Acquired by Medtronic plc), Medtech SA (Acquired by Zimmer Biomet), Accuray Incorporated, Smith & Nephew plc, Renishaw plc, Auris Health, Inc. (Acquired by Johnson & Johnson), Medrobotics Corporation, Varian Medical Systems, Stereotaxis, Inc., Titan Medical Inc., Think Surgical Inc., and TransEnterix, Inc.

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