What's driving the Surgical Robots Market Size? MedTech, Mazor Robotics, Hansen Medical, Smith & Nephew, THINK Surgical, Medrobotics, Renishaw, Stryker and Intuitive Surgical
U.S. surgical robots market was valued at USD 2.2 billion in 2018. Considerable revenue size will be due to high adoption of technologically advanced surgical robots. In addition to this, geriatric population susceptible to chronic conditions is increasing rapidly. This scenario will prove beneficial for the industry growth as it will create immense demand for surgical robots to carry out minimally invasive surgical procedures. Furthermore, positive regulatory scenario will support development in the surgical robots thereby, fostering country growth.
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Prominent industry players operational in the Surgical Robots include MedTech, Mazor Robotics, Hansen Medical, Smith & Nephew, THINK Surgical, Medrobotics, Renishaw, Stryker and Intuitive Surgical. Strategies adopted by these players are partnership, collaboration and agreement that boosts companys revenue generation. For instance, In February 2019, Mazor introduced Mazor X robotic surgery system that is integrated with advanced technology providing long-term competitive advantage to the firm in the industry.
Increasing technological advancements will boost the surgical robots market growth. Robot assisted surgeries are known for highest level of accuracy and precision across the globe. Recently developed surgical robots allow enhanced visualization and also reduces the chances of surgical site infections.
Surgical Robots Market will exceed USD 24 billion by 2025; as per a new research report. Rising patient preference towards minimally invasive surgeries in developed as well as developing economies will propel surgical robots market growth in forthcoming years.
Surgical robots such as ROSA spine surgery robot has flexibility that allows deep brain stimulation and implantations of electrodes for functional procedures such as cerebral cortex, biopsies. Aforementioned benefits of surgical robots will certainly increase its demand over forecast timeframe. However, prohibitive cost of surgical robots and dearth of skilled professionals in developing nations may hamper industry growth.
Robotic systems segment will grow over 24% from 2019 to 2025. Rising patient preference towards less invasive surgeries will augment robotic systems demand. Robotic assistance allows professionals to carry out tasks with maximum control, flexibility and high precision as compared to conventional techniques. Blood loss during robotic surgeries is very less, hence requirement for blood transfusion can be minimized. These factors will drive the growth of robotic systems segment in upcoming years.
Doctors have high preference for surgical robots as they are able to provide minimally invasive surgeries that reduce recovery time, discomfort and prolong pain. Moreover, factors such as reduced post-care discomfort, less need for blood transfusions and shorter hospital stay are some of the advantages of surgical robots that will drive the industry growth.
Orthopedic surgery segment held around 13% revenue share in 2018 and it is expected to expand immensely in foreseeable future due to increasing usage of surgical robots in orthopedic surgeries. Recently developed robots are profusely used in orthopedic surgery for complete hip replacement. Surgical robot allows accurate implant positioning that lowers the risk of errors. Also, increasing incidences of bone disorders such as arthritis is expected to drive the segment growth in near future.
Ambulatory surgical centers segment accounted for USD 1.6 billion in 2018. ASCs have several advantages that includes reduced stay and lower operational costs. Also, certain multispecialty ASCs provide minimally invasive surgeries for several chronic conditions that further raises the adoption of surgical robots in ASCs proving beneficial for the segmental growth.
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Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Surgical Robots Industry Insights
Chapter 4. Surgical Robots Market, By Component
Chapter 5. Surgical Robots Market, By Application
Chapter 6. Surgical Robots Market, By End-user
Chapter 7. Surgical Robots Market, By Region
Chapter 8. Company Profiles
8.2. Globus Medical
8.3. Hansen Medical
8.4. Intutive Surgical
8.5. Johnson & Johnson
8.6. Mazor Robotics
8.9. Think Surgical
8.10. Zimmer Biomet
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