Surgical Robots Market Size, Opportunities, Trends, Key Players, Products, Revenue Analysis, For 2019–2030
According to the current analysis
of Reports and Data, the global Surgical
Robots Market was valued at USD 4.94 Billion in 2019 and is expected
to reach USD 11.90 billion by the year 2030, at a CAGR of 10.3%. Surgical
Robots include surgery assisted by robots added with the systems to reduce
human errors like trembling while doing operations. It is a technological
advancement that has a concern to shift over to minimally invasive surgical
procedures. Surgical Robots has a tremendous potential to grow, as the physical
presence of the surgeon is not necessary. In Surgical Robots, the primary
market driver is technological advancement, and a hike in road accidents is
expected to fuel the market growth during the forecast period. For instance,
according to the numbers given by the Association for Safe International Road
Travel (ASIRT) in 2018, about 20-30 million get injured or disabled in road
accidents every year. The escalating accidental ratios and the need to have
better aesthetics would propel market growth.
Furthermore, the rise in the
geriatric population and upsurge in demand for minimally invasive surgical
procedures over the traditional methods of surgical procedures are anticipated
to fuel the industrial growth in the coming years. In addition, the surge in
the initiatives taken by the government for awareness regarding such procedures
and an increase in the spending capacity of an individual is expected to help
the industry to gain traction in the near future.
However, the high cost associated
with robotic surgical operations is expected to hamper the Surgical Robots
market. Additionally, the rise in death rate and injuries due to robotic
surgeries may impede the growth of the Surgical Robots market.
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The global Surgical Robots market
is highly fragmented with major players like Intuitive Surgical, Stryker, Mazor Robotics, Smith & Nephew, Hansen
Medical, Renishaw, Transenterix, Think Surgical, Medtech, and Zimmer Biomet.
Further key findings from
the report suggest
- The
global leaders are competing to innovate the products to have the largest
share in the market. For instance, in December 2017, Think Surgical Inc.
announced that the U.S. Food and Drug Administration had granted clearance
for it to market the Solution One system for total knee replacement in the
U.S. The robot had earlier received CE Marking, and surgeons have used it
in more than 550 procedures in the Asia-Pacific and European markets.
- The competition
in Surgical Robots is very high due to the increase in the need for
minimally invasive procedures. The companies now are making agreements for
penetration in the market. For instance, In May 2018, Stereotaxis Inc. and
Acutus Medical declared collaboration and signed an agreement to integrate
the Niobe Magnetic Navigation System with Acutus Medical AcQMap, a
High-Resolution Imaging and Mapping System. This technology integration
helps the patient to allow better improvement of patient care and physician
experience.
- In
2019, Stryker acquired Cardan Robotics and Mobius Imaging to spread its
hands-on Orion robotics and navigation system for surgical and
interventional radiology. The expansion of the companies to ensure better
systems and accessories to be installed for Surgical Robots is expected to
fuel the growth of the market in the forecast period.
- According
to the World Health Organization in 2019, it is observed that there were
about 703 million people aged 65 years and above in the world in 2019 and
is estimated to double to 1.5 billion by 2050. The increasing geriatric
population would owe to push up the growth of Surgical Robots, especially
in the orthopaedic segment of the application.
- According
to the estimates given by the Association for Safe International Road
Travel (ASIRT) in 2018, about 20-30 million get injured or disabled in
road accidents every year. The need for having better aesthetics and an
increase in the spending capacity of the individuals will help the market
to gain traction in the coming years.
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For the purpose of this report, Reports
and Data has segmented the Surgical Robots market on the basis of components,
applications, end-use & regional classification:
Components Outlook (Revenue, USD
Billion; 2019–2030)
- Robotic
System
- Instruments
& Accessories
- Services
Applications Outlook (Revenue, USD
Billion; 2019–2030)
- Orthopedic
Surgery
- Neurosurgery
- Gynecologic
Surgery
- Cardiothoracic
Surgery
- Urology
- General
Surgery
- Plastic
Surgery
- Others
End-use Outlook (Revenue, USD
Billion; 2019–2030)
- Hospitals
- Ambulatory
Surgical Centers
- Others
Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia,
Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin
America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of
MEA)
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Key insights presented in the report:
·
Market revenue
shares by major business players, by type, application, and market scope of
global Surgical Robots market
·
Sales revenue by
key players and new entrants
·
Competitive
analysis of key players, including company overview, product or services
specification, vendors, and buyers.
·
Recent mergers,
acquisitions, product launches, recent investments, and joint ventures
·
Regional analysis
to provide insight into recent trends and opportunities
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