Surgical Robots Market Revenues to Reach US$ 9.2 Billion by 2028

Robotic technique applications in surgery are beneficial, owing to its smaller incisions that results in lower morbidity, less postoperative pain, and shorter hospital stay, which is similar to minimally invasive surgery. For instance, according to the data published in Frontiers in Surgery Journal in 2016, over 3,200 robotic platforms are installed globally and around 570,000 da Vinci procedures were performed in 2014.

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Moreover, key players in the surgical robots market are focused on adopting strategies such as acquisitions and new product launches, in order to strengthen their market position. For instance, in 2013, Stryker acquired Mako Surgical Robotic Systems for US$ 1.65 Bn, and in 2016, Stryker launched Mako surgical robots for total knee replacement. Additionally, in 2015, TransEnterix acquired SOFAR Surgical Robotics unit for US$ 100 Mn. Furthermore, in 2016, Zimmer Biomet Holding Inc. acquired surgical robotics provider, Medtech SA, for US$ 132 Mn to expand its product portfolio and in 2016, MEDTECH received clearance from the U.S. Food and Drug Administration (FDA) to market the ROSA Spine robot in the U.S. In addition, in 2013, Auris Surgical Robotics acquired Hassen Medical, which specializes in intravascular robotic catheter systems. In 2016, the FDA granted 510(k) clearance to the Ares robot-assisted bronchoscopy platform developed by stealthy Auris Surgical Robotics. Furthermore, in 2015, Smith & Nephew, a U.K.-based orthopedics giant expanded its foothold in the surgical robotics market by acquiring Blue Belt Technologies and its Navio robotics system, which is a U.S.-based company.

Browse 27 Market Data Tables and 32 Figures spread through 172 Pages and in-depth TOC on Surgical Robots, by Product Type (Instruments & Accessories and Robotic Systems (Da Vinci Surgical, ROSA, MAKO RIO, ROBODOC, and Others)), by Surgery Type (Gynecology Surgery, General Surgery, Urology Surgery, Cardiovascular Surgery, Neurosurgery, Orthopedic Surgery, and Other Surgery), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2025.

The increasing U.S. Food and Drug Administration approval for surgical robots is also expected to drive growth of the surgical robots market over the forecast period. For instance, in October 2017, TransEnterix received approval from the US Food and Drug Administration (FDA) for its Senhance system, which is a robot assisted surgical device for minimally invasive surgeries. Moreover, in 2016, the U.S. FDA approved first medical robot of Auris Surgical, a startup led by the co-founder of Intuitive Surgical, a developer of Da Vinci robots. Furthermore, in August 2015, Stryker received the FDA approval for MAKO RIO, however, there was delay in sales, globally until 2017. Hence, MAKO RIO was used only in 65 hospitals in the U.S., U.K., Australia, and Germany from 2015-2017. Additionally, in 2014, ROBODOC Encore Surgical System received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its total hip Arthroplasty procedures.

Key takeaways of the market:

The global surgical robots market is expected to exhibit a CAGR of 13.4% over the forecast period (2017-2025), owing to increasing number of adoption of surgical robots for minimally invasive surgeries. For instance, in 2016, around 753,000 surgical procedures were performed adopting da Vinci Surgical System, which increased by 15% compared with around 652,000 procedures performed in 2015

Among surgery type, gynecology surgery segment is expected to exhibit high CAGR of 28.8% over the forecast period. This is attributed to new product launches for application in gynecological surgeries. For instance, in October 2017, TransEnterix’s received approval from FDA for its Senhance robotic system. Moreover, da Vinci robotic system is also expected to fuel growth of the gynecology surgery segment over the forecast period.

The global surgical robots market is characterized by market expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue, owing to rising number of acquisitions by market players.

Key players operating in the global surgical robots market include Intutitive Surgical, Think Surgical, TransEnterix, Zimmer Biomet, Stryker Corporation, Smith & Nephew, and Medrobotics Corporation.

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