North America to Dominate Surgical Robots Market until 2025
Improving healthcare IT infrastructure and increasing adoption of
minimally invasive surgeries across the globe to drive global surgical robots
market through 2025.
According
to TechSci Research report, “Global Surgical
Robots Market By Component, By Mechanism of Control, By Application, By End
User, By Region, Competition, Forecast & Opportunities, 2025”, the global surgical robots market is expected to grow at around
15% CAGR during 2020 - 2025 on account of widespread adoption of robotic
assisted surgeries in various hospitals, clinics and ambulatory surgical
centers. Additionally, increasing geriatric population coupled with increasing
demand for automation is further expected to propel the market during forecast
period. Furthermore, surgical robots make it easier for the surgeons to carry
out complex procedures with comparatively smaller incisions. Similarly, they
provide a better view of access of incision sites as well as improves the
efficiency of the entire procedure. Moreover, surgeries done with the
assistance of surgical robots require less time as compared to the conventional
surgeries. Also, there is less pain, shorter hospital stays and lesser post
operation complications. These factors are anticipated to positively impact the
growth of market. Besides, increasing regulatory approvals by the FDA and other
regulatory agencies is expected to bolster the growth of market across the
globe. However, high initial investments and high cost of installation can
hamper the growth of market during forecast period. Additionally, mechanical
failures and technical glitches experienced during the surgical procedures
impede the market growth. Furthermore, increase in mortality rate and injuries
during robotic surgeries are expected to restrict the growth of market during
the next five years.
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The global surgical robots market is segmented based on component,
mechanism of control, application, end user, company and region. Based on
component, the market can be categorized into systems, instruments and
accessories and services. The services segment is expected to register the
highest growth during forecast period owing to the increase in the number of
robotic surgeries. This rise in the use of surgical robots in surgical
procedures can be ascribed to the growing geriatric population suffering from
chronic diseases such as cancer, cardiovascular diseases, diabetes, among
others. Based on application, the market can be segmented into Orthopedic
Surgery, Endometriosis, General Surgery, Neurosurgery, Thoracic Surgery,
Colorectal Surgery, Gynecology, Heart Surgery, Urologic Surgery and Others. The
General surgery segment is expected to dominate the market on account of the
extensive use of surgical robots in multiple surgeries including abdominal
contents (stomach, esophagus, etc.), skin, soft tissue and musculoskeletal
system, breast, head and neck, vascular system, endocrine system and alimentary
tract. The use of surgical robots in these procedures improves the precision,
control and skill of the surgery and offers high quality operating
interventions to the patients. Based on end user, the market can be fragmented
into hospitals & clinics and ambulatory surgical centers. The hospitals &
clinics segment is anticipated to dominate the market attributable to the
growing focus on carrying out surgeries with better precision. Additionally,
use of surgical robots ensures ease and comfort to the surgeon also.
Intuitive Surgical, Stryker Corporation, Medtronic Plc., Smith &
Nephew, Johnson & Johnson, Medrobotics Corporation, TransEnterix, Inc.,
Zimmer Biomet Holdings, Inc., Renishaw Plc., Think Surgical, Inc., Siemens
Healthineers AG, CMR Surgical Limited, Corin Group Plc., Preceyes BV and others
are some of the leading players operating in global surgical robots market. The
companies operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share. For instance, in March 2019,
Smith & Nephew, a global medical technology company, announced the product
launch of Navio Surgical System and its investment, which would help in
establishing its multi-asset robotic and digital surgery and ecosystem. The
NAVIO 7.0 is designed for improving the surgeon experience through expanded
surgical preferences, streamlined workflow and a new intuitive interface which
would reduce the surgery time as compared to the previous version.
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“North America is
expected to dominate the surgical robots market during the forecast years,
owing to the high R&D funding in surgical robots. Additionally, presence of
well-established healthcare infrastructure in the region is further anticipated
to spur the market through 2025. Moreover, presence of key manufacturers in the
region is expected to create lucrative growth opportunities until 2025.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Surgical Robots Market By Component, By
Mechanism of Control, By Application, By End User, By Region, Competition,
Forecast & Opportunities, 2025”, has evaluated the future growth potential of global surgical
robots market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global surgical robots market.
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