As per our research report, the global surgical robots market size is forecasted to grow 12.2 billion by 2025, registering a CAGR of 12.1% during the period.
Surgical robots are medical robots used while performing computer-assisted surgeries in the appearance and guidance of experts. Operations performed using robot-assisted take less time when compared to conventional surgeries.
MARKET DRIVERS
Growing adoption of minimally invasive surgeries and advancements in the technology are significant contributors to the surgical robots market growth.
At a global level, the trend of robotic surgeries is growing rapidly. These surgeries are performed by surgeons using surgical robots. Benefits associated such as losing less blood, less damage to the body and quick recovery time with the robotic surgeries are majorly increasing the adoption. As per a report published by the American Society of Plastic Surgeons, around 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in the year 2018. On the other end, the acceptance for the robotic-assisted cardiac surgeries is also growing since the last few years.
According to a report, the da Vinci (manufactured by Intuitive) is the most used surgical robot in the world in the present situation. Over a million surgeries were happened using this robot in the year 2018, in which 75% of surgery cases were from the United States.
Additionally, factors like increasing elderly people population, robots with the latest version using advance technologies are some of the factors that are responsible for market growth. The growing funds for research and developments of surgical robots to perform complex surgeries are a few of the other factors boosting the demand for surgical robots.
Furthermore, developments in the healthcare infrastructure and the growing number of hospitals which are preferring the robots to do surgeries and the ever-increasing number of minimum invasive procedures are likely to accelerate the surgical robots market growth.
MARKET RESTRAINTS
The cost of surgical robots and surgeries are prohibitive and is the primary factor limiting market growth. The requirement of experienced and skilled surgeons to perform robotic operations, the FDA approved guidelines, and the strict rules and guidelines to be followed to complete the surgeries are other factors impeding the market growth.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 – 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 - 2025 |
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Segments Covered |
By component, surgery type, end-user and region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global surgical robots market has been segmented and sub-segmented based on component, surgery type, end-user and region.
Surgical Robots Market Analysis – By Component:
Based on the component, the accessories segment held the majority of the shares in the global surgical robots market in 2019. It is due to the cyclical procurement of instruments and accessories as contradicting the robotic systems is primarily driving the growth of the segment.
Surgical Robots Market Analysis – By Surgery Type:
Based on the surgery type, the general surgery segment is to grow at the highest CAGR during the period. The growth of this segment is majorly influenced by surgical procedures such as Cholecystectomy, Fundoplication, Esophageal Surgery, Gastric Surgery, Pancreatic Surgery, Hepatobiliary surgery, colorectal surgery and Thoracic surgery.
Surgical Robots Market Analysis – By End-User:
Based on the end-user, hospitals segment is leading with the highest market shares during the forecast period. It is due to the exceptional amenities available associated with the hospitals to perform robotic surgeries is helping this segment to grow faster and also increases the concentration on operations and establish more comfort for surgeons.
Regional Analysis
North American surgical robots market was the market leader in the global market in 2019 with leading the majority of the shares in the market. In Canada to see significant growth in the coming years. It is due to the growing approvals and acceptances of surgical robots used for the surgeries performed in small children. In the U.S., the accessibility of funds for research and development of surgical robots is accelerating the market growth in this country.
European surgical robots market is likely to grow at a CAGR of 8.0% during the forecast period. Europe to hold the second-largest market share during the period due to the growing requirement for the automation in the medical sector for better health and increasing desire for small incisions or daunted surgeries and small kind of robotics.
The surgical robots market in the Asia Pacific is estimated to grow at a briskest growth rate during the period due to the vast patient population and also advanced technology in countries like India and China that make this region grow fast.
Other regions such as Latin America and the Middle East & Africa region are to grow at a quicker rate due to the developing of medical infrastructure in the upcoming years.
Key Players in the Market
As per our analysis, Intuitive Surgical, Medtronic, Stryker, Smith & Nephew are Zimmer Biomet the top 5 companies with a dominating share in the global surgical robots market.
Other companies like Transenterix, Inc., Corindus Vascular Robotics, Renishaw, Auris Health, Inc., Medrobotics Corporation, Think Surgical, CMR Surgical, Verb Surgical, Omnilife Science, Inc., Preceyes BV, China National Scientific Instruments and Materials Corporation (Csimc), Microsure, Titan Medical Inc., Avatera Medical GmbH and Medicaroid Corporation are playing a promising role in the market.
Key developments in the market by the top companies in the recent past:
On February 10, 2020, Intuitive, an innovator of robot-assisted surgery has stated that it has obtained the private medical organization Orpheus Medical to strengthen and widen its growth in integrated informatics.
On January 31, 2020, Medtronic has finished its acquisition of Mazor Robotics for $1.64 billion. This action has shown early signs of accomplishment in its robotic surgery devices, and majorly emphasizes to build spine and brain surgical guidance systems. The robotic surgeries aim to end the competition among the cardiac and vascular space.
On November 27, 2019, Medtronic introduced a new device Mazor X Stealth Edition. This device provides a complete united procedural solution for workflow, execution and surgical planning that confirms spine surgeries. Surgeons feel very easy and comfortable using the Mazor X Stealth Edition robot.
On January 22, 2018, Medrobotics, a medical robotics company, has received the FDA clearance to market their Flex Robotic System which helps in general surgeries, gynaecology and thoracic surgeries in the U.S.
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