Global Robotic Surgery Devices Market Size Status and Global Outlook 2020-2030 | Intuitive Surgical (US); Stryker (US), Medtronic (Ireland), mith & Nephew (UK), TransEnterix (US)

The robotic surgery devices market consists of sales of robotic systems, instruments and accessories and services related to the robotic surgery devices market. Robotic surgery devices are advanced surgical devices compared to traditional laparoscopic surgery devices. These devices are used for Minimally Invasive (MI) surgeries in the eye, brain, heart and other parts of the body. These robotic surgery devices can be applied in Gynecological, Neuro, Orthopedic, and general surgeries. The robotic surgery devices are more cost-effective and introduced to reduce complications, Pain, reoperations, etc.

Major players in the robotic surgery devices market are Intuitive Surgical (US), Stryker (US), Medtronic (Ireland), Smith & Nephew (UK), TransEnterix (US), Mazor Robotics (US, Medrobotics (US), Accuray (US), and THINK Surgical (US).

The global robotic surgery devices market is expected to decline from $5.04 billion in 2019 to $4.84 billion in 2020 at a rate -3.91%. The decline is mainly due to the Covid-19 outbreak resulting in other patients delaying their episodes of care. The market is then expected to stabilize and reach $7.71 billion in 2023 at CAGR of 16.81%.

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Market Segmentation-

The Global Robotic Surgery Devices market report chiefly includes following manufacturers-

Intuitive Surgical (US); Stryker (US); Medtronic (Ireland); Smith & Nephew (UK); TransEnterix (US)

Segmentation by Type:

Urological surgery; Gynecological surgery; Orthopedic surgery; Neurosurgery; Others

Global Robotic Surgery Devices Market Competitive Landscape:

North America was the largest region in the robotic surgery devices market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.

The advances in surgical products and technologies in the health care industry are creating more opportunities in the robotic surgery devices market. Increasing investments in R&D is helping investors to create value for the customers by producing medical-surgical products like robotic surgery devices by using the latest technologies. With the use of robotic systems that are equipped with optical imaging, surgical tools, instruments, and accessories, the surgeries are made easier. Some of the surgical advances that are creating more value and opportunity in the healthcare industry include 3-D high definition endoscope (Multi-Angle Rear-Viewing Endoscopic tool) devices for Brain surgery, Smart surgical glasses (equipped with a video camera and Head-mounted monitor) that act as computers and can used for live observation of surgeries, surgical robots with artificial intelligence that acts as doctors, and humanoid robots which are used for highly critical surgeries in eye and brain. The other advanced surgical tool is remote robotics, which is used to assist with surgery from any remote location. Therefore, the robotic surgery devices are playing an important role in the healthcare industry with their technological advancements and innovations.

The robotic surgery devices market covered in this report is segmented by product and service into robotic systems, instruments & accessories, services and by surgery type into urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, other applications.

Expensive robotic surgery is hampering the robotic surgery devices market. Robotic surgery is comparatively more expensive than other traditional ways of surgeries as it is associated with a lot of complications, requires highly trained senior doctors to operate robotic systems/instruments, complex technical operation, and maintenance. A single robotic system costs around $2 million and the surgery costs about a range of $3000 - $6000. The annual maintenance cost of robotic surgery devices usually costs between $100,000 - $170,000. The largest robotic surgery device manufacturer Intuitive Surgical supplies the single-use or disposable surgical tools used for robotic arms for surgeries. This is one of the reasons that robotic surgeries are more costly. The huge cost associated with robotic surgeries is therefore hindering the market growth.

In July 2019, Intuitive Surgical Inc. is an American corporation that develops, manufactures, and markets robotic products that have acquired Schlly Fiberoptics robotic endoscope business. Schlly Fiberoptic is a major player in the visualization systems for Minimally Invasive (MI) diagnostic and surgical applications. This acquisition integrated Schllys robotic endoscope manufacturing line, and two Schlly sites into some of the Intuitive operations which are the robotic-related manufacturing line from Denzlingen (Germany) , the manufacturing site in Biebertal (Germany) and the repair site in Worcester, Mass (USA). The acquisition's main aim is to strengthen the Intuitives supply chain and increase its manufacturing capacity for visualization products to advance healthcare.

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Major Highlights of Robotic Surgery Devices Market report:

-Robotic Surgery Devices Market Overview

-Market Competition by Manufacturers

-Industrial Chain, Sourcing Strategy and Downstream Buyers

-Marketing Strategy Analysis, Distributors/Traders

-Market Effect Factors Analysis

-Global Robotic Surgery Devices Market Forecast (2019-2023)

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team

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