Surgical Robotics Devices Market

Surgical Robotics Devices Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026

Robotic surgery is a modern technology, which helps surgeons to perform complex surgical procedures. The robotic system enhances accuracy and precision that directly helps in reducing post-surgical complexities. Surgical robots are a mix of several software, equipment and devices. Further, three-dimensional imagining provided by camera fitted in the robotic system helps the surgeons to view and manage surgeries when needed. In addition, surgeons can pre-program the robotic systems according to the surgery requirements. Robotics assisted technology successfully helps in operating multiple surgical procedures such as cardiac surgery, gynecologic surgery, laparoscopy, colorectal surgery, pediatric surgery, urologic surgery and neurosurgery, among several others. Remote control and voice activation are the methods with which robots are controlled and navigated in the entire surgical procedure. There are three types of robotic surgery systems developed so far: supervisory-controlled systems, tele surgical systems and shared-control systems. In the medical industry, surgical robots are enhancing the surgeon’s capabilities of dealing critical surgeries instead of replacing surgeons. These computer-controlled devices are providing favorable outcomes in the market with no harm. Moreover, robotic surgeries limit the risk of blood loss and infections and offer faster recovery without leaving little or no scars in comparison to traditional surgery procedures. Owing to the above parameters, the market size of the surgical robots is expected to grow in the forthcoming years. However, the high cost of the robotic system hinders the adoption of the technique in developing countries. Although, with the high demand and technological advancement of the robotic system in the market, the prices are likely to drop down in near future. Constituting just under 900,000 robotic-assisted surgical procedures performed in the United States last year, the robotic surgery market is expected to grow impressively to approach 3 million procedures by 2025. In addition, global medical robotic systems market was worth US$5.48 billion in 2011 and is expected to reach $13.6 billion in 2018, growing at a compounded annual growth rate of 12.6% from 2012. Surgical robots are expected to enjoy the largest revenue share. By 2020, surgical robotics sales are expected to almost double to US$6.4 billion.

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Insights Presented in the Report

  • Based on component type, global surgical robotics is classified into systems, accessories and services. Accessories hold the dominant position in terms of revenue as accessories are replaced after every surgical procedure.
  • Based on surgery type, the market is classified into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Orthopedic surgery holds a dominant position in the market owing to the rise in orthopedic injuries globally.
  • For better understanding of the market penetration of the global surgical device market, the industry is analyzed based on geographies and countries including North America (the U.S., Canada, and Rest of North America), Europe (Germany, France, the U.K., and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Latin America (Brazil, Chile and Rest of Latin America) and Middle East and Africa (GCC, South Africa, and Rest of MEA). North America is expected to dominate the market due to the adoption of these robots by patients. The Asia Pacific is expected to be the next biggest market after North America due to rapid development of robotic surgical systems.
  • Some of the major players operating in the market include Intuitive Surgical Inc., Medtronic plc, Johnson & Johnson, Google Life Sciences, Stryker Corporation, TransEnterix, Mazor Robotics, and Hansen Medical, Renishaw plc, Medtronic plc. , Stryker Corp., Think Surgical, Inc. and Titan Medical, Intuitive Surgical, and MAKO

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry.
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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