Increasing Adoption of Advance Technological Procedures in Surgery: Positive Impact on Robotics Surgery Industry
According to AllTheResearch The 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.
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 Market Segmentation
Instruments & Accessories
By End User
· Ambulatory Surgical Centers
· General Surgery
· Orthopedic Surgery
· Gynecological Surgery
· Urological Surgery
· Other Surgery
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North America accounted for nearly 35% share of the robotic surgery market in 2018 and is expected to dominate the market throughout the forecast period followed by Europe. The growth of this region is attributed to the early adoption of advanced tools and technology in the healthcare sector, favorable government regulations and increasing incidences of chronic diseases which needs surgical procedures as a treatment option. While Asia Pacific region is expected to grow at the fastest CAGR owing to the high patient’s population, increasing government initiatives to improve healthcare infrastructure in developing economies and growing collaboration of western companies with local manufacturers to develop new tools at low cost.
Company Profiles and Competitive Intelligence:
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.
Recent News of Robotic Surgery Market:
In August 2021, Meitra Hospital launched robotic joint replacement surgery in South Asia.
In July 2021, Integrity Implants merged with Fusion Robotics. The combined company re-branded as “Accelus” and this merger happened with aim to accelerate the adoption of minimally invasive surgery as the standard of care in spine.
In October 2019, Siemens Healthineers completed the acquisition of Corindus to enter into advance therapy business. Corindus has robotic system for endo-vascular coronary and peripheral vascular interventions which is approved by the US FDA and also CE marked.
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