Robotic Surgery Market Revenue is Expected to Increase at a Robust CAGR of 9.6% By 2026

Growing adoption of advance surgical options, increasing incidence of chronic diseases and growing demand for non-invasive surgical options drive the growth of the Robotic surgery market. The global robotic surgery market was valued at USD 4.1 billion in 2018 and is expected to reach USD 8.2 billion in 2026, growing at a CAGR of 9.6% during the forecast period.

Robotic surgery is a non-invasive surgical procedure which is performed using a robotic-arms, surgeons console and a monitor equipped with tools and software. The robotic arms are equipped with the required instruments and accessories to perform the surgery. The robotic surgery is majorly performed for general surgeries such as bariatric surgery, hernia repair, gastrectomy; orthopaedic surgery, gynaecological surgery, urological surgeries, and neurosurgery. Currently, around 85% of the prostatectomies are performed using robotically assisted minimally invasive surgeries in the US.

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The major players operating in the global robotic surgery market are Intuitive Surgical (US), Stryker (US), and Mazor Robotics (US). Other players involved in this market are Hansen Medical (US), Smith & Nephew (UK), THINK Surgical (US), Medrobotics (US), Medtech (France), Renishaw (UK), and. TransEnterix (US), among others.

Rising demand for advanced and non-invasive surgical options for hernia repair, orthopaedic diseases, and bariatric surgery boosts the adoption of robotic surgical systems across the globe. The growth of this market is attributed to the increasing government expenditure to develop healthcare infrastructure, increasing incidence of chronic disease which needs surgical solutions and increasing geriatric population with orthoepic disease. Also, favorable government regulation and reimbursement policies are likely to boost the adoption of robotic surgery in developed and developing economies during the forecast periods.

On the other hand, the high cost associated with the installation and maintenance of robotic systems, availability cheaper surgical alternatives, lack of trained professionals might hinder the growth of this market to some extent. Also, negative perception towards robotic surgeries such as its efficacy and patients safety might result in the decreased demand for robotic surgery in the near future.

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Robotic Surgery Market Segmentation:

By Component
1. Instruments & Accessories
2. Robotic Systems
3. Services

By End User
1. Hospitals
2. Ambulatory Surgical Centers

By Application
1. General Surgery
2. Orthopedic Surgery
3. Gynecological Surgery
4. NeuroSurgery
5. Urological Surgery
6. Other Surgery

By Region:
1. North America (US and Canada)
2. Europe (UK, Germany, France and Rest of Europe)
3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)
4. Latin America (Brazil, Mexico and Rest of Latin America)
5. Middle East & Africa (GCC and Rest of Middle East & Africa)

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This release was published on openPR.