Robotic Surgical Devices Market Size to Reach Revenues of over $8 Billion by 2024 - Arizton

The robotic surgery devices market size is expected to grow at a CAGR of about 17% by 2024.

The global robotic surgical devices market is segmented into general surgeries, gynecological surgeries, urological surgeries, and other surgeries market segments. The general surgeries segment dominated the global robotic surgical devices market in 2018. This segment is growing at a faster rate than all other application segments as the usage of robotic surgical devices for performing surgeries like bariatric, hernia repair, cholecystectomy, and colorectal surgeries are increasing.

Arizton's recent market research report considers the present scenario of the robotic surgery devices market dynamics for the period 2018-2024. The report covers a detailed overview of several market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. The study profiles and examines leading companies and other prominent companies operating in the robotic surgery devices market.

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Robotic Surgical Devices Market - Dynamics

Here are the list of trends and drivers that are impacting the revenues and profitability in the robotic surgery devices market:

o Growing Demand for MI Surgical Approaches
o New Product Approvals/Launches
o Presence of Large Patient Pool Requiring Surgical Interventions
o Growing Technological Advancements/Innovations
o Market Entry of MNCs Through Acquisitions
o Promising Investigational Robotic Surgical Devices
o Growing Usage of Robotic Platforms in Orthopedic Surgeries

Robotic Surgical Devices Market - Segmentation

This market research report includes a detailed segmentation of the market by product, application, end-users, and geography.

o The growing preference for MI surgical techniques and the increasing availability of advanced treatments are the key factors for the growth of the instruments and accessories segment. Further, the increase in the aging population, the presence of a large pool of patient, and the awareness of advanced robotic surgical treatment are some of the significant factors fueling the market.
o The increasing prevalence of kidney ailments or renal cancers is leading to the demand for open, laparoscopic, and robot-assisted techniques. Further, the rise of robotic prostatectomy in treating patients with prostate cancers is another major driver for the growth of the robot-assisted urological segment.
o The rise in same-day discharge (SDD) procedures and cost-effectiveness of ASCs (ambulatory surgical centers) are contributing to the growth of the market. Also, ASCs are equipped with sophisticated/advanced equipment to perform a wide range of MI surgeries, including robotic surgeries.

Market Segmentation by Products
o Robotic Systems
o Instruments and Accessories
Market Segmentation by Application
o General Surgeries
o Gynecological Surgeries
o Urological Surgeries
o Other Surgeries
Market Segmentation by End-users
o Hospitals
o ASCs

Robotic Surgical Devices Market - Geography

North America will witness an incremental growth of a staggering approximately $4 billion during the forecast period, which is higher than the combined incremental growth of all other regions. North America is growing at a faster rate than all other regions due to the growing preference for technologically advanced robotic surgical devices, higher penetration of robotic surgeries, and presence of a large pool of skilled surgeons performing robotic surgeries. Further, the presence of a large pool of patient population and high awareness regarding the availability of robotic surgeries for treating many diseases/ailments are the major factors fueling market growth in recent years.

Market Segmentation by Geography
o APAC
o Japan
o China
o Australia
o North America
o US
o Canada
o Europe
o Germany
o France
o UK
o Latin America
o Brazil
o Mexico
o MEA
o Turkey
o Saudi Arabia

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Robotic Surgical Devices Market - Vendor Landscape

The global robotic surgical devices market is highly consolidated with major players accounting for a significant share in the market. Intuitive Surgical, Stryker, Medtronic, and TransEnterix are identified as the leading players in the global robotic surgical devices market. These companies have a wide geographical reach, diversified product portfolio, and a strong focus on innovation and research activities. The market is heavily monopolized with Intuitive Surgical accounting for dominant market share. Stryker, Medtronic, and TransEnterix are the other key players with noteworthy market shares.

Key Vendors
o Intuitive Surgical
o Stryker
o Medtronic
o TransEnterix

Other prominent vendors are Auris Health, Curexo, Corindus Vascular Robotics, CMR Surgical, meercompany, Medrobotics, Renishaw, Smith & Nephew, Stereotaxis, Tinavi, and Zimmer Biomet.

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About Arizton Advisory & Intelligence

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