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Surgical Robot Market Updates, News and Data 2016–2027

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John Burge

Summary - A new market study, titled “Surgical Robot Market, By Product (Robot Systems, Instrument & Accessories and Services), By Brands, By Application and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2016 – 2027- COVID- 19 Updated” has been featured on 

REPORT HIGHLIGHT

The surgical robot market is estimated to represent a global market of USD 8.06 billion by 2019 with growth rate of 21.4%.

ALSO READ:

https://industrytoday.co.uk/health_and_safety/surgical-robot-market-future-outlook-accuray--stryker-corporation--transenterix--intuitive--and-hocoma

Market Dynamics

Robotic systems have been giving helping hands to the surgeons. As per the various research studies, there were more than 4,000 surgical robotic systems scattered across the world’s hospitals and helped surgeons in more than 750,000 operations of uterus, kidney, heart and prostate glands. The global industry for surgical robotics is primarily driven by the growing demand for errorless healthcare services. Surgical robots in healthcare industry offers minimally invasive surgical interventions, less errors in prescriptions, and saves time by multitasking and by reducing human endeavor. In addition, increasing number of organizations are engaged in spreading awareness regarding the benefits of robotic surgeries.

For instance, the Robotic Assisted Microsurgical & Endoscopic Society (RAMSES) is actively involved in development of robotic-assisted microsurgical tools for enhanced patient and surgical outcomes. Other factors such as growing demand for minimally invasive surgeries, increasing number of robotics-certified physicians, and improving healthcare infrastructure in developing regions augment the industry growth to great extent. However, high cost is posing a potential threat for the growth of this industry. Hospitals, companies, and laboratories have to spend very much on robotic system and its disposables as the cost ranges from USD 1 million to USD 2 million. For example, da Vinci’s minimally invasive surgery (which was approved by the U.S. FDA in 2000) cost around USD 2 million. Such high cost would in turn pull back the industry revenue generation, restraining the growth.

COVID-19 Impact

Our industry experts are working reluctantly to understand, and timely deliver assessment on impact of COVID-19 crisis and help their clients to take an excellent business decisions. The proposed report on surgical robots industry will cover detailed assessment due to COVID-19 outbreak, covering economical, political and technology outcome. The report presents the analysis of COVID-19 surgical robot market for the forecast period of 2021-2027.

Brand Takeaway

CyberKnife, da Vinci surgical systems, MAKO, and other are different surgical robotic bands studied under the research scope. Among which, da Vinci surgical systems brand captured the highest share and is projected to dominate the global market over the study period. On other side, MAKO robotic arm assisted surgery by Stryker recorded the lowest revenue in 2019. This surgical system helps surgeons with personalized surgical experience in joint replacement surgeries such as total hip, partial knee, and total knee applications. As per the company’s data, more than 125,000 Mako procedures were performed globally, including 16,000 Mako total knee replacement procedures.

Application Takeaway

In terms of application, the market is divided as Gynaecology, Orthopaedic, Urology, Neurosurgery, Cardiovascular, Transplant and others. Gynaecology application recorded the highest revenue in 2019 and is likely to dominate the global market over the study period. In 2019, this segment is projected to capture more than 30% share of the overall industry revenue. On other side, neurosurgery appears to be growing at a strong growth rate owing to the rising number of spinal operations performed globally. As per the National Spinal Cord Injury Association Resource Centre, around 4.83 million spinal cord operations performed every year across the globe. In 2015, about 78 million people suffer from the chronic back pain which shows potential for the more number of robotic surgery during the future period.

Regional Takeaway

Regionally, North America captured the highest share of the total market. In 2019, this region has captured almost 62% share of the overall industry. High growth of this regions is majorly attributed to the favourable government initiatives, availability of various reimbursement schemes and increasing purchasing power of people. On other hand, regions such as Asia Pacific and Latin America is projected to grow with decent growth rate over the forecast period. Huge population base coupled with rising incidences of chronic diseases has helped these regions to grow with significant growth rate in future.

Key Vendor Takeaway

Companies namely Accuray, Stryker Corporation, TransEnterix, Intuitive, and Hocoma are profiled extensively. Among which, Intuitive Surgical emerged as the market leader owing to its advanced technology based surgical robotic portfolio. In the U.S., this company has achieved market saturation in colorectal surgery and has shipped more than 492 da Vinci surgical systems in 2015. Additionally, Stryker and Hocoma accounted for the significant share of the global industry.

A number of companies in the surgical robotics industry are preparing to inject new investments to develop innovative and cost-effective products. For instance, in October 2019, TransEnterix Surgical, Inc. received U.S. FDA approval for the new robotically-assisted surgical device (RASD) named as “Senhance Surgical Robotic System” for laparoscopic, gynecological and colorectal procedures. This system facilitates minimally invasive surgeries with 3D high definition view, advanced eye sensing camera control and backward and forward head movement for zooming purpose. In addition, this system is featured with the haptic force feedback technology that allows the surgeon to effectively feel the tissue stiffness.

The market size and forecast for each segment has been provided for the period 2016 to 2027, considering 2019 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2021 to 2027 for every reported segment.

The years considered for the study are:

Historical Year – 2016 to 2018

Base Year – 2019

Estimated Year – 2020

Projected Year – 2027

The proposed reports analyse and evaluates the COVID-19 impact, and anticipated change on the future market scenario on this industry, by taking into the account the economic, political, technological, and social, parameters.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

Robot Systems

Instrument & Accessories

Services

MARKET, BY BRAND

CyberKnife

da Vinci surgical systems

MAKO

Other

MARKET, BY APPLICATION

Gynecology

Orthopedic

Urology

Neurosurgery

Cardiovascular

Transplant

Others

MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America

 

FOR MORE DETAILS:  

 

https://www.wiseguyreports.com/reports/5641658-surgical-robot-market-by-product-robot-systems-instrument

About Us:Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.         

   

Contact Us:               

NORAH TRENT                                                      

[email protected]       

Ph: +162-826-80070 (US)                          

Ph: +44 203 500 2763 (UK)  

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