-- The Global Surgical Robots Market is proliferating continually, mainly due to the many advantages that these robots demonstrate in surgeries. Some of the benefits of robotic surgeries are more accuracy, less pain, small insertions, and many others. Surgical robots can be operated remotely and in emergencies, allow surgeons to perform remote surgeries using telesurgery and imaging devices. This, as a result, is increasing the uptake of surgical robots across the world.
According to renowned research firm - Market Research Future (MRFR), the Global Surgical Robots Market is expected to touch a valuation of USD 19,596.61 MN by 2024. In its recently published analysis, MRFR also asserts that the market would register a double-digit CAGR of 18.94%, throughout the forecast period (2016-2014). Augmenting demand for minimally-invasive surgeries and advanced robotics is another key driving force behind the growth of the market.
Intended Audience
Medical Device Companies
Association and Organizations
Research Institutes
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Moreover, technological advancements and the increasing automation taking place in the burgeoning healthcare sector are accelerating market growth. Additionally, increasing prevalence of cancer, various neurological disorders, and heart-related diseases such as cardiovascular diseases among others are stimulating the growth of the market.
Market Top Major Players:
Players driving in the global surgical robots market include –
Medtronic
Johnson & Johnson
Intuitive Surgical Inc.
Stryker Corporation
TransEnterix
Google Life Sciences
Mazor Robotics
Hansen Medical
and others in ROW.
Leverage to the advancing technologies, prices of robotic technology, and surgical robotics have dipped significantly which is bolstering the growth of the market. Conversely, risk factors associated with robotic surgeries and the skepticism about the efficacy of robotics are impeding the growth of the market to an extent. However, the development of surgical robots with artificial intelligence (AI) technology would support market growth, providing desired outcomes.
Global Surgical Robots Market – Segments
The report is segmented into five crucial market dynamics to widen the scope of understanding,
Product Type: Robotic Systems, Instrument & Accessories, and Services.
By Application : General Surgery, Gynecologic Surgery, Cardiac Surgery, Colorectal Surgery, Urologic Surgery, and Head & Neck Surgery, among other surgeries.
By Control Mechanism: Computer Control and Direct Telemanipulator.
By End-user : Hospitals and Ambulatory Surgical Centers, others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World (RoW).
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Global Surgical Robots Market – Regional Analysis
North American leads the global surgical robots market, heading with the presence of many, technology & healthcare giants. Moreover, continuously rising cases of various chronic diseases act as a significant tailwind pushing up the growth of the market in the region. Factors such as the availability of colossal amounts of funds for R&D, well-developed healthcare sector, and the augmenting demand for robotics for more accurate surgeries and hence, précised outcomes are expected to drive the regional market growth in the future. In tandem with the same growth trends, the region is expected to create a substantial revenue pocket over the review period.
Europe takes the second-leading position in the global surgical robots market, heading with the significant technological advancements and their wide uptake in the medical sector. Moreover, the presence of a proliferating healthcare sector and flourishing medical devices market alongside, the rising healthcare expenditure in the region are estimated to boost the growth of the market.
Also, increasing funding support from public & private sectors to drive research & development activities to impact the regional market growth, positively. Furthermore, the increasing prevalence of cancer and many neurological disorders are expected to support the growth of the regional market.
The Asia Pacific surgical robots market is emerging as a promising market globally. Rising demand for surgical robots and increasing adoption of this technology in various procedures are the factors influencing the market growth, majorly. Large unmet clinical needs are attracting global players to expand the network in the region to capture a significant share of the market.
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Industry/Innovation/ Related News:
February 13, 2019 --- Johnson & Johnson (the US), a Healthcare giant and a leading global medical device company announced the acquisition of Auris Health, Inc. (the US), a surgical robotics start-up to expand its digital surgery business. The deal is finalized at USD 3.4 BN in cash and would be rolled into the company's (J&J) medical device subsidiary Ethicon.
This combination represents a considerable step forward in endoluminal technology. J&J is aiming to simplify surgery, drive efficiency, reduce complications, and improve outcomes for patients, ultimately making surgery safer. It has been ramping up its activity in the surgical robotics. Recently J&J launched a joint venture - Verb Surgical with Alphabet’s Verily and acquired French robot-assisted orthopedic surgery company Orthotaxy in 2018.
Collectively, these technologies, alongside, J&J’s market-leading medical implants & solutions, would create the foundation for a comprehensive digital ecosystem that can help surgeons and patients before, during, and after surgery. Verb Surgical plans to unveil its first products by the end of 2020.
About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our cooked research report (CRR), half-cooked research reports (HCRR), raw research reports (3R), continuous-feed research (CFR), and market research & consulting services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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