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Surgical Robots Market Hits USD 17,647.82 million by 2028 Lead By THINK Surgical, Intuitive Surgical; Asensus Surgical

09-12-2022 09:35 AM CET | Health & Medicine

Press release from: The Insight Partners

There is a rise in the number of surgeries performed across the world. In the last 25 years, the incidence of cardiovascular diseases has increased globally. The rise in diabetic cases and lifestyle changes are leading to an increase in the number of cardiovascular surgeries and general surgeries. For instance, colorectal cancer is one of the most commonly found and lethal cancers developed in individuals due to the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer is the third most prevalent form of cancer, with ~1.93 million global cases in 2020.

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The global surgical robots market is segmented on the basis of components, application, and end user. Based on components, the market is segmented into instruments & accessories, robotic systems, and services. Based on application, the market is segmented into urological surgery, orthopedic surgery, general surgery, gynecological surgery, neurosurgery, cardiothoracic surgery, and other applications. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others.

The surgical robots market is expected to reach US$ 17,647.82 million by 2028 from US$ 6,839.07 million in 2021. It is expected to grow at a CAGR of 14.8% during 2022-2028.

Intuitive Surgical; Stryker; Zimmer Biomet; Smith+Nephew; Johnson & Johnson Services, Inc.; Siemens Healthineers; Renishaw plc; Asensus Surgical, Inc.; THINK Surgical, and Medtronic are some of the leading market players in the global surgical robots market.

Furthermore, colorectal cancer mortality and incidence rates vary globally, and ~916,000 deaths in 2020 were associated with it. It is the third most common type of cancer in men and the second most common cancer in women. The lifetime risk of developing colorectal cancer is about 1 in 23 for men and 1 in 25 for women. ~95,55,027 cancer deaths were recorded in 2018, of which 8,80,792 were related to colorectal cancer. Therefore, colorectal cancer was identified as the third most common cancer and the second highest death-causing cancer. Therefore, the increasing number of colorectal cancer incidences has resulted in the surging demand for surgical robots.

Based on components, the market is segmented into instruments and accessories, robotic systems, and services. Instruments and Accessories to hold the largest share of the components segment in the global surgical robots market during 2022-2028 and is expected to be around US$ 9,673.90 million by 2028 from the US$ 3584.57 million in 2021; it is estimated to grow at a CAGR of 15.5% during 2022-2028. The report highlights the key factors driving the surgical robots market and prominent players with their developments in the global surgical robots market.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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