Market Overview –
There was a CAGR of 16.84 percent between 2021 and 2030 for the global surgical robots market, which was $5.16 billion in 2021. With a market value of approximately USD 3.27 billion, North America currently holds the largest share of the global market.
Minimally invasive surgery makes use of surgical robots, which can manipulate surgical instruments more precisely than humans can in a small operating room. In the last few years, the global surgical robots market has seen a tremendous increase in growth. The growing ability of hospitals to invest in surgical robots is primarily driving the market’s growth. Minimally invasive surgeries are made possible by surgical robots. As a result, patients experience a quicker and easier recovery than they would with more traditional methods.
The global surgical robots market’s growth is being fueled by a variety of factors. Increased demand for minimally invasive procedures, as well as increased funding for research into the development of cutting-edge medical devices, are all expected to help fuel growth in this industry over the forecast period. Another important factor that is likely to boost the market’s growth in the coming years is the growing use of advanced medical technologies around the world. In spite of this, factors such as the high cost of surgical robots and the risks associated with robotic-assisted surgeries are expected to impede market growth for surgical robots.
COVID-19 Impact –
The global impact of the COVID-19 pandemic on people and the economy has been devastating. The spread of the disease has placed a heavy burden on the nation’s healthcare systems. Health care institutions and providers have been instructed to stop performing elective surgical procedures and medical examinations during this time to reduce the risk of transmission and save healthcare resources for COVID-19 patients. Temporary restrictions on elective surgeries have been put in place around the world as a result of the pandemic, which has had an adverse effect on the global economy.
Market Dynamics –
Many advantages, such as smaller incisions, less pain, less scarring, quicker recovery, increased safety, and significant financial savings, are driving up demand for minimally invasive (MI) surgical procedures. A study found that patients who underwent minimally invasive spine surgery recovered in six weeks on average, as opposed to the 12 weeks it takes for patients who underwent traditional open spine surgery. Additionally, robotic minimally invasive surgery ensures repeatability, accuracy, efficiency, and control, all of which help drive the surgical robots market.
As a result of the high success rate of robotic-assisted surgery, surgical robots have seen an increase in use. The published data on various robot-assisted surgeries, according to NCBI, showed excellent outcomes and success rates ranging from (94 to 100) percent. Because of the high rate of success, surgical robots are now being used by more people, which is propelling the growth of the industry.
There were no life-threatening complications from the use of robots in surgery. Only 2% of patients who underwent robotic-assisted surgery in 2021 experienced life-threatening complications. The reduced risk of life-threatening complications from surgical robots led to an increase in the overall market share of surgical robots.
Market Scope and Market Size –
On the basis of product type, brand, and use case, the surgical robots market is segmented. In order to identify industries with modest growth, you can use this data to identify weak growth segments within those industries and provide users with a useful market overview and market insights that they can use to make strategic decisions about the identification of core market applications..
The surgical robots market is divided into four categories based on the type of product they are used to perform: robotic systems, instruments, accessories, and services.
Aside from the Da Vinci Surgical System, the surgical robot market is divided into several other subsectors based on the brands they represent.
On the basis of use, the surgical robots market can be divided into general surgery, urological, gynaecological and gastrointestinal surgery as well as radiotherapy and radical prostatectomy.
Recent Developments –
Accuray, Globus Medical, Hansen Medical, Mazor Robotics, Omni, Stryker, Think Surgical, Intuitive Surgical Inc., Johnson & Johnson Services Inc., Medtronic Plc, Smith & Nephew Plc, Stryker Corp., and Zimmer Biomet Holdings Inc. are some of the major players in the surgical robot market.
Medtronic acquired Mazor Robotics in December 2019 to enter the market.
‘Hugo RAS’, a new robot-assisted surgery platform developed by Medtronic Plc., was announced in September 2019. Robotic arm carts (also known as end effectors) are part of the Hugo system.
Dr. Doctors Medical Center in Los Angeles, California, will begin using a surgical robot to carry out coronary artery bypass surgery in June 2019.
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Competitive Landscape –
Information provided by a competitor on the competitive landscape for surgical robots. Information on company overview, financials (revenue and profit), investment in R&D, new product initiatives and global presence are among the topics covered in this section. Also included are product launch, product width and breadth and application dominance. The above data points are only relevant to the surgical robots market focus of the companies listed.
Key Players –
By Type –
Instrument & Accessories
By Applications –
Head and Neck Surgery
By Regions –
Middle East & Africa