Surgical Robots Market is Expected to Grow at a CAGR of 13.4% During Forecast Period 2017- 2025

The Global Surgical Robots Market by Product Type (Instruments & Accessories, and Robotic Systems (Da Vinci Surgical, ROSA, MAKO RIO, ROBODOC, and Others)), by Surgery Type (Gynecology Surgery, General Surgery, Urology Surgery, Cardiovascular Surgery, Neurosurgery, Orthopedic Surgery, and Other Surgery), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) is estimated US$ 3,380.3 million in 2017 and is projected to exhibit a CAGR of 13.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. The robotic technique are helpful due to smaller incisions, which lead to lower morbidity, less postoperative pain, and shorter hospital stays, that is similar to minimally invasive surgery. According to the data published in Frontiers in Surgery Journal in 2016, over 3,200 robotic platforms have been installed worldwide and approximately 570,000 da Vinci procedures were performed in 2014.

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Key players in the surgical robots market are focused on acquisition and new product launches in order to enhance their market share. For instance, Stryker acquired Mako Surgical Robotic Systems for US$ 1.65 Bn in 2013 and in 2016, it launched Mako surgical robots for total knee replacement. Furthermore, in 2015, TransEnterix acquired SOFAR Surgical Robotics unit for US$ 100 Mn. In 2016, Zimmer Biomet Holding Inc. acquired surgical robotics provider, Medtech SA, for US$ 132 Mn to increase its portfolio and in 2016, MEDTECH received clearance from the U.S. Food and Drug Administration (FDA) to market the ROSA Spine robot in the U.S. Furthermore, in 2013, Auris Surgical Robotics acquired Hassen Medical, as the Hassen Medical specialized in intravascular robotic catheter systems. In 2016, the FDA granted 510(k) clearance to the Ares robot-assisted bronchoscopy platform developed by stealthy Auris Surgical Robotics

In 2015, Smith & Nephew — a British-based orthopedics giant — expanded its foothold in the surgical robotics market by acquiring Blue Belt Technologies and its Navio robotics system, which is a U.S.-based company.

Browse 27 Market Data Tables and 32 Figures spread through 172 Pages and in-depth TOC on Surgical Robots ByProduct Type (Instruments & Accessories and Robotic Systems (Da Vinci Surgical, ROSA, MAKO RIO, ROBODOC and Others)) By Surgery Type (Gynecology Surgery, General Surgery, Urology Surgery, Cardiovascular Surgery, Neurosurgery, Orthopedic Surgery and Other Surgery) and By Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025

Increasing US Food and Drug Administration approval for surgical robots is also expected to favor growth of surgical robots market. For instance, in October 2017, US Food and Drug Administration (FDA) approved the Senhance system, of TransEnterix, which is a robotically assisted surgical device for minimally invasive surgeries. In 2016, U.S. FDA approved the first medical robot from Auris Surgical — a startup led by the co-founder of Intuitive Surgical — a developer of Da Vinci robots.

Furthermore, Stryker received FDA approval in August 2015, however, delayed its worldwide sales until 2017, and so MAKO RIO was used only in 65 hospitals in the U.S., the U.K., Australia, and Germany from 2015 –2017. In 2014, ROBODOC Encore Surgical System received 510(k) clearance from the US Food and Drug Administration (FDA) for total hip Arthroplasty procedures.

Key takeaways of the market:

The global surgical robots market is expected to exhibit a CAGR of 13.4% over the forecast period (2017–2025), with increasing adoption of surgical robots for minimally invasive surgeries. For instance, in 2016, approximately 753,000 surgical procedures were performed with the da Vinci Surgical System, an increase of approximately 15% compared with approximately 652,000 procedures performed in 2015

Among surgery type segment, gynecology surgery segment is expected to exhibit a significant CAGR of 28.8%. This is owing to new product launches for application in gynecological surgeries. For instance, in October 2017, the FDA approved TransEnterix’s Senhance robotic system. Moreover, established da Vinci robotic system has also contributed to growth of the gynecology surgery segment.

The global surgical robots market is characterized by market expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue due to increasing number of acquisitions.

Some major players operating in the global surgical robots market includes Intutitive Surgical, Think Surgical, TransEnterix, Zimmer Biomet, Stryker Corporation, Smith & Nephew, and Medrobotics Corporation.

To know more about the Surgical Robots Market, click the link below, https://www.coherentmarketinsights.com/market-insight/surgical-robots-market-496

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This release was published on openPR.