Robotic Surgery Services Market 2020 Technology Advancements – Intuitive Surgical Inc, Stryker Corporation, Medrobotics Corporation, Johnson & Johnson

Robotic Surgery Services Global Market Report 2020-30: Covid 19 Growth and Change

The robotic surgery services market consists of the sale of services provided Robotic surgical technology, the highly advanced technological form of non-invasive surgery that utilizes robots and computer systems to conduct surgeries with lesser incision and more precision. The commonly used robotic surgical system consists of a mechanical arm and camera arm attached to surgical instruments with a controlled by a surgeon being seated at a computer console which is usually in the same room as the surgical table, or can be around the world.

This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The global robotic surgery services market is expected to decline from $0.71 billion in 2019 to $0.57 billion in 2020 at a compound annual growth rate (CAGR) of -19.04%. 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 recover and reach $1.03 billion in 2023 at CAGR of 21.55%.

SPECIAL OFFER (Avail an Up-to 20% discount on this report)

Request a Sample Report:

https://www.marketinsightsreports.com/reports/06022059460/robotic-surgery-services-global-market-report-2020-30-covid-19-growth-and-change-including-1-by-application-general-surgery-urological-surgery-gynecological-surgery-orthopedic-surgery-neurosurgery-?source=OPENPR&Mode=NG23

Major players in therobotic surgery services market are Intuitive Surgical Inc, Stryker Corporation, Medrobotics Corporation, Johnson & Johnson, Globus medicals, NuVasive, Smith & Nephew plc, Titan Medical Inc, TransEnterix Inc, and University of Pittsburgh Medical Center.

Market Segmentation by Types:

1) By Application: General surgery; Urological surgery; Gynecological surgery; Orthopedic surgery; Neurosurgery; Other applications
2) By End-users: Hospitals; Ambulatory Surgery Centers (ASCs)

The Main objectives of this report are:

• To analyze global Robotic Surgery Services status, future forecast, growth opportunity, key market and key players.
• To present the Robotic Surgery Services development in United States, Europe and China.
• To strategically profile the key players and comprehensively analyze their development plan and strategies.
• To define, describe and forecast the market by product type, market and key regions.

On October 2019 Corindus Vascular Robotics Inc., a leading developer of precision vascular robotics was acquired by Siemens Healthineers AG, a German conglomerate of medical technology offering wide range of products in the fields of diagnostic and therapeutic imaging, laboratory and point of care diagnostics, and molecular medicine for an amount of USD 1.1 billion the main aim of this acquisition is to optimize the procedures and to increase the clinical outcomes by collaborating each others technologies, it also opens a new market for Siemens.
The robotic surgery services market covered in this report is segmented by application into general surgery; urological surgery; gynecological surgery; orthopedic surgery; neurosurgery; other applications and by end-users: hospitals; ambulatory surgery centers (ASCS).

Safety concerns regarding the use of robotic surgery services are likely to cause a hindrance to the robotic surgery services market. The FDA Safety communication raised a concern in February 2019 about using robotic surgery for mastectomy procedures or for the prevention or treatment of cancer as the effectiveness and safety of these devices is not established. According to the survey of New England journal of medicine published in November 2018, the survival rate of patients having minimally invasive surgery compared to patients having open surgery is lower. Over the past two decades more than 8,061 device malfunctions, 1,391 injuries, and 144 deaths occurred in robotic surgery service. Due to such concerns more products have been recalled from the market. On September 2019 Zimmer Biomet has recalled its ROSA brain 3.0 robotic surgery system because of a software problem which can drive the robotic arm to an incorrect position which can risk patient's life. This was identified as a class 1 recall which is the most serious kind of classification by the FDA. These safety concerns lead to more stringent regulations by the regulatory agencies like the FDA, which would in turn increase the cost and time period for the research and development activities. Therefore the safety issues pertaining to robotic surgeries leading to product recalls is expected to hinder the growth of the robotic surgery services market.

Image guide navigation system combined with the robotic surgery system offers more possibility to visualize and perform the minimally invasive surgery in areas which were earlier difficult, especially the orthopedic surgeries and neurosurgeries. The Mazor X Stealth system by Medtronic, and the NuVasive's Pulse and Excelsius GPS by Globus Medical, among others use image guided navigation system to perform spine surgeries, and orthopedic implant surgeries such as total, partial knee and hip replacements as they provide the surgeon with 3D experience. The image-guided navigation reduces the radiation effects and patients do not require to take an X ray after the procedure. These factors state that the image guided navigation system is expected to be a trend in robotic surgery services.

Increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. According to the fourth quarter financial results 2019 of intuitive Surgicals, the robotic surgical giant, the company has shipped around 336 DA Vinci systems during the quarter when compared to 290 during the fourth quarter of 2018. It has almost 5,582 DA Vinci systems installed, with a 12% year-over-year increase. More than 1 million procedures were performed around the world with the DA Vinci In 2018 from 136,000 in 2008. The need for more minimally invasive surgery by growing geriatric population coupled with the prevalence of chronic disease such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the demand for robotic surgery services. According to the World Health Organization (who) report, there will be a 57 % increase in chronic illness. Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of robotic surgery services market.

Get Discount of this Report:

https://www.marketinsightsreports.com/reports/06022059460/robotic-surgery-services-global-market-report-2020-30-covid-19-growth-and-change-including-1-by-application-general-surgery-urological-surgery-gynecological-surgery-orthopedic-surgery-neurosurgery-?source=OPENPR&Mode=NG23

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Table of Contents: -

1. Global Robotic Surgery Services Market Overview
2. Global Robotic Surgery Services Market Competitions by Manufacturers
3. Global Robotic Surgery Services Capacities, Production, Revenue (Value) by Region
4. Global Robotic Surgery Services Supply (Production), Consumption, Export, Import by Region
5. Global Robotic Surgery Services Productions, Revenue (Value), Price Trend by Type
6. Global Robotic Surgery Services Market Analyses by Application
7. Global Robotic Surgery Services Manufacturers Profiles/Analysis
8. Robotic Surgery Services Manufacturing Cost Analysis
9. Industrial Chain, Sourcing Strategy and Downstream Buyers
10. Marketing Strategy Analyses, Distributors/Traders
11. Market Effect Factors Analysis
12. Global Robotic Surgery Services Market Forecast
13. Research Findings and Conclusion
14. Appendixes

Buy Now Link:

https://www.marketinsightsreports.com/report/purchase/06022059460?mode=su?source=OPENPR&Mode=NG23

Furthermore, this study will help to solve the following issues:

• Cyclical Dynamics-Report foresee dynamics of industries by using core analytical and unconventional market research approaches.
• Identifying key cannibalizes– Strong substitute of a product or service is the most prominent threat. Report includes key cannibalizes of a market, by procuring market research. This helps in aligning new product development/launch strategies in advance.
• Spotting emerging trends- Report helps to spot upcoming hot market trends. Report also track possible impact and disruptions which a market would witness by a particular emerging trend.
• Interrelated opportunities- This report will allow to make decisions based on data, thereby increasing the chances that the strategies will perform better.

For More Information on This Report, Please Visit:

https://www.marketinsightsreports.com/reports/06022059460/robotic-surgery-services-global-market-report-2020-30-covid-19-growth-and-change-including-1-by-application-general-surgery-urological-surgery-gynecological-surgery-orthopedic-surgery-neurosurgery-?source=OPENPR&Mode=NG23

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

If you have any special requirements, please Contact our Sales Team (sales@marketinsightsreports.com).

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain 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.

Contact US:
Irfan Tamboli (Head of Sales)-Market Insights Reports
Phone: + 1704 266 3234 | Mob: +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com

About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.