The Global Surgical Robotics Market Assessed to Progress at $17445.28 Million by 2028

A recent study by Triton Market Research titled 'Global Surgical Robotics Market' comprises the Global Analysis and Forecasts by Type (Services, Robotic Systems, Instruments & Accessories), Application (Gynecological Surgery, Neurosurgery, Orthopedic Surgery, Urological Surgery, General Surgery, Other Applications), Verticals (Hospitals, Ambulatory Surgery Centers), and by Geography (Latin America, Middle East and Africa, Europe, Asia-Pacific, North America).

The implementation of robotics in surgical processes has become a transformative step in mitigating the risks associated with contamination. Surgical robots are widely used for various procedures, such as neurosurgery, orthopedic surgery, and general surgery.

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Triton's report suggests that the global surgical robotics market is anticipated to surge at a CAGR of 11.51% during the forecasted period 2021-2028, garnering revenue worth $17445.28 million by 2028.

Over the years, the older population has surged significantly and is anticipated to grow in the near future. As life expectancy continues to surge, several elderly patients are in need of various treatments. This creates challenges for medical professionals, increasing the demand for advanced medical technologies. Thus, the rise in the geriatric population, along with technological advancements, are supplementing the growth of the surgical robotics market worldwide. However, high costs and lack of a skilled workforce are majorly limiting the development of the surgical robotics market over the forecast period.

The surgical robotics market is segmented into type, application, and verticals. Based on type, the market is divided into services, robotic systems, and instruments & accessories. Similarly, application-wise the market is branched into gynecological surgery, neurosurgery, orthopedic surgery, urological surgery, general surgery, and other applications. Lastly, the verticals segment is bifurcated into hospitals and ambulatory surgery centers.

Geographically, North America holds the largest market for surgical robotics and is likely to continue its stronghold till 2028. In recent years, the healthcare sector has witnessed a tremendous rise in technological innovations, such as AI, miniature robotics, and remote surgeries. Here, surgical robots are used to discharge medical professionals from routine tasks, making procedures safer and cost-efficient. Additionally, AI is now widely used to enhance robotic surgery and is gaining momentum in detecting cancer and other diseases at early stages. Among the countries, the United States has achieved a significant share in the studied market. Therefore, all these factors contribute to the robust growth of the surgical robotics market across the North American region.

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

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Question & Answer: Surgical Robotics Market

Question 1: What elements are supplementing the growth of the surgical robotics market worldwide?
Answer: Over the years, the older population has surged significantly and is anticipated to grow in the near future. As life expectancy continues to surge, several elderly patients are in need of various treatments. This creates challenges for medical professionals, increasing the demand for advanced medical technologies. Thus, the rise in the geriatric population, along with technological advancements, are supplementing the growth of the surgical robotics market worldwide.

Question 2: What factors are limiting the development of the surgical robotics market over the forecast period?
Answer: The high costs and lack of a skilled workforce are majorly limiting the development of the surgical robotics market over the forecast period.

Question 3: Which region holds the largest market for surgical robotics?
Answer: Geographically, North America holds the largest market for surgical robotics and is likely to continue its stronghold till 2028. In recent years, the healthcare sector has witnessed a tremendous rise in technological innovations, such as AI, miniature robotics, and remote surgeries. Here, surgical robots are used to discharge medical professionals from routine tasks, making procedures safer and cost-efficient. Additionally, AI is now widely used to enhance robotic surgery and is gaining momentum in detecting cancer and other diseases at early stages. Among the countries, the United States has achieved a significant share in the studied market. Therefore, all these factors contribute to the robust growth of the surgical robotics market across the North American region.

Question 4: Which are the key companies in the surgical robotics market?
Answer: Accuray Incorporated, Stereotaxis Inc, CMR Surgical, Medrobotics Corporation, Intuitive Surgical Inc, Think Surgical Inc, Smith and Nephew Plc, Asensus Surgical Inc, Medtronic Plc, Auris Health Inc, Synaptive Medical Inc, Globus Medical Inc, Stryker Corporation, Titan Medical Inc, and Zimmer Biomet Holdings Inc are key companies in the surgical robotics market.

Related Report:
Global Medical and Surgical Robotics Market - https://www.tritonmarketresearch.com/reports/medical-and-surgical-robotics-market#report-overview

The global medical and surgical robotics market is estimated to advance at a CAGR of 17.20% during the considered period of 2019-2027 while reaping $24113.93 million in revenue by 2028.

Medical and surgical robotics refers to the deployment of robotic systems in medical and surgical procedures. These systems are mainly employed to overcome drawbacks in minimally invasive procedures.

The elements boosting the studied market on a growth path include technological advancements, rising brain strokes, and lifestyle changes due to socio-economic development.

In addition, growing R&D in the field of robotics, surging geriatric patients, and restrictions in conventional surgeries are generating new opportunities for the medical and surgical robotics market.

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This release was published on openPR.