Next-Generation Surgical Robotics Market Projected to Deliver Greater Revenues during the Forecast Period 2031 | Intuitive Surgical, Stryker, Mazor Robotics

The global next-generation surgical robotics market size was valued at US$ 10 million in 2019. The global next-generation surgical robotics market is forecast to reach US$ 884 million by 2030 by registering a compound annual growth rate (CAGR) of 45% during the forecast period from 2021-2030.

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Factors Influencing

Due to the rapidly increasing prevalence of chronic diseases, the demand for next-generation surgical robotics is forecast to increase.

The geriatric populations can easily get affected by the diseases. Thus the growth in the elderly population would raise the demand for next-generation surgical robotics during the analysis period.

Government policies and investment in healthcare, mostly in emerging countries, are expected to fuel the growth of the global next-generation surgical robotics market.

As the demand for surgeries is growing, robotics-based surgery may generate a new era in the coming years. Robot-assisted operations are now widely used in various fields, including urology, gynecology, orthopedics, etc.

The launch of technological advancements in the next-generation surgical robot industry is forecast to generate favorable chances for market growth. Accuray Integrated recently launched the CyberKnife S7 System, an innovative device for stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments. The integrated speed of the device, excellent accuracy, and artificial intelligence (AI) enabled motion monitoring has contributed to the growth of the market. More such innovations would propel the market growth during the analysis period.

The growing demand for next-generation surgical systems at a low cost would present promising growth opportunities for the market players.

The high cost associated with the next-generation surgical robot is forecast to slow down the market growth during the forecast period.

Geographic Analysis

The North American segment may increase significantly in the global next-generation surgical robotics market. North America held most of the share of the global next-generation surgical robotics market in 2019. The significant growth of the North American industry is due to growing funds for boosting surgical robot R&D. Apart from that, expanding usage of surgical robots for pediatric surgeries in Canada and general surgery procedures in the United States has been other factors driving the growth of the global next-generation surgical robotics market.

Covid-19 Impact Analysis

A pandemic had an abrupt negative impact on demand for next-generation surgical robots. Due to the pandemic, authorities had to implement temporary restrictions on travel and other services. As a result, it affected elective surgeries all over the world.

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As elective operations are discontinued, it has become critical to understand the future role of robotic-assisted surgery in the current epidemic. Government authorities also shifted their focus on controlling the pandemic. As a result, it reduced the demand for robots. The surgeries mandate the interaction between surgeons and patients. As a result, various patients avoided visiting hospitals to prevent themselves from the COVID-19 virus infection.

Competitors in The Market

Intuitive Surgical
Stryker
Mazor Robotics
Smith & Nephew
Hansen Medical
Medrobotics
TransEnterix
Medtech
Renishaw
THINK Surgical
Other prominent players

Market Segmentation

Based on Product and Service

Robotic systems
Instruments & Accessories
Services

Based on Application:

Gynecological Surgery
Urological Surgery
Neurosurgery
Orthopedic Surgery
General Surgery
Other Applications

Based on End-User

Hospitals
Ambulatory Surgery Centres

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By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global Next-Generation Surgical Robotics market report are:

How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the Next-Generation Surgical Robotics market over the forecast period?
What are the factors driving and restraining the market for Next-Generation Surgical Robotics?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?

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This release was published on openPR.