Surgical Robots Market worth US$ 17,647.82 Million by 2028 - Exclusive Report by The Insight Partners

According to our new research study on "Surgical Robots Market to 2028 - COVID-19 Impact and Global Analysis - by Components, Application, and End User," the 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. The report highlights trends prevailing in the market and factors driving its growth. The global Surgical Robots market is anticipated to grow in the forecast period owing to driving factors such as an increase in the surgical procedures, accuracy of the surgical robots, increasing popularity of minimally invasive surgeries, and increasing regulatory approval by the Government.

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The report includes a SWOT analysis of leading companies form global Surgical Robots Market. It also encloses and studies the most recent market developments that are likely to affect the industry. Moreover, the products & services offered by these companies are documented as well. Leading companies contributing to Surgical Robots Market valuation are

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. Rising expenditure to develop healthcare infrastructure coupled with rising research and development proficiencies to make advancements in healthcare technology is further propelling growth in the global surgical robots market value. Increasing patient preference for minimally invasive procedures and increasing personal disposable income are some other market growth determinants.

This data has been documented in a systematic manner by dividing the market into segments based on type, application, end user, and region. The report also includes conclusive numerical information in the form of charts and tables to aid industry leaders in understanding the market scenario and opinions of different experts.

Surging Number of Surgical Procedures Drives Global Surgical Robots Market
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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Regarding the surgical procedure itself, the fewer the surgical team members, the lower the possibility of contamination. While robots-assisted surgery can lessen the risk of contamination, contactless remote robotic surgery, which can be performed with the patient's presence in the operating theatre, would be the ideal situation for preventing virus spread. This visionary environment would allow surgeons to continue operating during pandemic-like situations without fearing additional infection.

The report segments the global Surgical Robots Market as follows: 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.

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.

Impact of COVID-19 Pandemic on global Surgical Robots Market:
The cost of overall healthcare is surging significantly in North America. The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the US in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% reported that they needed care but had not scheduled or received care. The COVID-19 pandemic altered economic conditions and social behaviors in North American countries. Containment measures enacted by governments to mitigate the spread of disease changed the US healthcare service delivery pattern. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.

Chapter Details of Surgical Robots Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Surgical Robots Market Landscape
Part 04: Surgical Robots Market Sizing
Part 05: Surgical Robots Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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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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