Surgical Robots Industry - The Future of Medicine is Artificial Intelligences & a Virtual World

The Global Surgical Robots Market is valued at USD 4.79 billion in 2016 and is expected to reach a value of USD 16.42 billion by the end of 2022, growing at a projected CAGR of 18.87% during the forecast period of 2017 - 2022. Surgical robots used in a robotic surgery or computer-assisted surgery. These robots were developed to overcome the limitations of the traditional surgeries and the next stage minimal invasive surgery procedures. The main aim of these robots is to improve diagnostics abilities, less and precise interventions, thus improving patient experience and care.

Surgical robots are currently used in various types of surgeries related to gynecology, urology, cardiology, general, transplantations, orthopedics, etc. Apart from surgeries, these robots are also used for the removal of fibroids, MRIs for providing organ biopsies, joint replacements, etc. Since the physician can inspect the affected area by controlling the robot via a computer, the need for the presence of the patient and doctor at the same location is avoided, thus cutting down on the travel in case of an emergency.

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In light of the increasing number of applications of surgical robots, the time required for performing a surgery is decreasing. Longer times for surgeries lead to stress and fatigue for any surgeon irrespective of his experience. The steadier and smoother experience from these robots is a much-needed feature to avoid this stress and fatigue. The increase in demand for automation in the healthcare sector and the growing need for minimally invasive surgical procedures are driving the growth of the market. Additionally, with the increasing disorders & health issues, the adoption of surgical robotic systems is boosted. The reduced post-surgical complications and reduced costs in the context of the required manpower for patient care may also be seen as the factors driving the market. However, there is always need to evaluate the costs involved in the adoption of the robotic surgery in comparison to the traditional method. There is also a huge necessity for skilled personnel to operate and program the equipment. Thus, training the physicians is a major challenge for this market. High initial costs, risk of system errors, latency issues, and non-availability of changing the course in the case of any complications are the major factors hindering the growth of the market. Due to the various advantages such as a better view of surgery site, better control, decreased blood loss, lesser pain, smaller incisions thus quick healing time, etc., this market is gaining traction in terms of opportunities.

In our study, the global surgical robot market is segmented based on the components offered, the area of surgery, and geography. The components offered in this market include surgical systems, system accessories, and services. Based on the area of surgery, the market is further segmented into gynecology, general, urology, orthopedic, laparoscopy and others. Robotic Neurosurgery is expected to have the highest growth due to the latest advancements in neurosurgery.

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The geographical segmentation of the global surgical robot market in our study includes North America, Latina America, Asia-Pacific, Europe and the Middle East & Africa. The market growth is mainly due to the demand from emerging countries and economically well-established countries. Asia-Pacific is estimated to have the highest growth rate in the forecast period, of which China alone is estimated to dominate the entire European market sales. China (highest growth rate), USA, Germany, South Korea and Japan are considered to be the critical markets for the surgical robots and are estimated to have approximately 70% of the sales. Mexico is estimated to have doubled the number of sales.

The key companies involved in this market are:
• Accuray
• Blue Belt Technologies
• Computer Motion Inc.
• Curexo Technology Corporation
• Google
• Intuitive Surgical
• Johnson & Johnson
• Hansen Medical Inc.
• MAKO Surgical Corp
• MDA Corporation
• Mazor Robotics Ltd.
• Medrobotics
• Medtronic
• SRI International
• Stryker Corporation
• Think Surgical Inc.

Key Deliverables of the Report
• Market definition for the global surgical robots market, along with identification of key drivers and restraints for the market.
• Market analysis for the global surgical robots market, with region-specific assessments and competition analysis on a global and regional scale.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
• Identification and analysis of the macro and micro factors that affect the global surgical robots market on both global and regional scale.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

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