The Global Surgical Robotics Market to Propel at CAGR of 11.51% by 2028

Triton Market Research presents the Global Surgical Robotics Market segmented by Application (Orthopedic Surgery, Gynecological Surgery, General Surgery, Urological Surgery, Neurosurgery, Other Applications), Verticals (Ambulatory Surgery Centers, Hospitals), Type (Instruments & Accessories, Services, Robotic Systems), and Geography (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa). It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Matrix, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

According to Triton's report, the market for surgical robotics is anticipated to register growth at a compound annual growth rate of 11.51% over the forecasted period 2021-2028.

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Surgical care is a major part of the healthcare system, with elective and emergency operations adding to the health services. Here, the integration of robots is considered a powerful tool in reducing risks of contamination and other medical issues.

In recent years, AI has emerged as a significant technological advancement in robotic surgery. Here, AI-based algorithms combined with surgical robotics have revolutionized surgical procedures. Moreover, it has simplified the interaction between robots and surgeons with the help of machine learning. Hence, the growing applications of AI create several new opportunities for the surgical robotics market. However, the lack of medical professionals, the high cost of these procedures, and the risks involved in robotic surgeries limit the global market's growth to a large extent.

The Asia-Pacific is likely to emerge as the fastest-growing region in the surgical robotics market over the reviewed years. Several surgeons are incorporating robots operated by remote control for various surgical procedures. Additionally, robots are gaining traction for other applications, such as medical transport, therapies, and pharmacy automation. Other than this, governments are encouraging the adoption of robots to reduce surgical errors. All these factors are widening the scope and growth of the surgical robotics market across the region.

The renowned enterprises in the surgical robotics market consist of Think Surgical Inc, Stereotaxis Inc, Synaptive Medical Inc, Medrobotics Corporation, Stryker Corporation, Smith and Nephew Plc, Medtronic Plc, Accuray Incorporated, Zimmer Biomet Holdings Inc, Auris Health Inc, Titan Medical Inc, Asensus Surgical Inc, Intuitive Surgical Inc, Globus Medical Inc, and CMR Surgical.

Several companies with undifferentiated products with broad product lines are intensifying competition within the market. Moreover, more companies are expanding their facilities and investing in R&D to strengthen their footings in the studied market. Furthermore, prominent companies are acquiring smaller companies to enhance their product portfolio. These trends indicate the competition among existing players to be high in the surgical robotics market over the forecast period.

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