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Robotic Surgery 2022 has extended global outreach efforts to invite speakers and attendees from many nations around the world, who have an opportunity to witness the results of quality research efforts provided by attending world renowned Scientists, Robotic Engineers, Doctors, Organizations and societies of Surgery, Business delegates, CEO’s and R&D Heads from Industries, Professors and Students. Directors/Co-Directors of Research-based companies across the World who is investing in Robotic Surgery and Surgical System.
Surgical Robots Market size:
The surgical Robots Market size exceeded USD 4.6 billion in 2020 and is anticipated to grow at a CAGR of over 17.4% between 2021 and 2027. The rising prevalence of chronic diseases and the increasing number of surgical procedures across the globe will create lucrative growth opportunities for surgical robots. Technological advancements in surgical robots with regards to their applications, functionality, and accuracy will influence the market expansion. Similarly, increasing health expenditure in developing countries will further create growth opportunities propelling the demand for surgical robots. The COVID-19 pandemic had a substantial impact on the market. In March 2020, the Centres for Medicare & Medicaid Services (CMS) declared that all non-essential dental, surgical, and medical procedures and all elective surgeries, be postponed during the COVID-19 outbreak. This has massively impacted the business revenues of healthcare providers, and medical product suppliers. It has also impacted the industry as the use of instruments and accessories had suddenly dropped which has negatively impacted the overall market.
The increased number of surgeries has escalated the demand for Robotic Surgery:
Robotic surgeries have been there for quite some time now. In the initial stages, doctors and patients had their reservations with respect to the use of surgical robots and the outcome of the surgery. However, today we are at a stage where the technology has developed, and the results are extremely encouraging. As a result, robotic surgeries are opted by patients without any fear. The use of surgical robots for general surgeries has increased rapidly in last few years, thus proving beneficial for the market growth. In addition, surgical robots have made extremely critical surgical procedures possible with a minimally invasive approach. With the use of robots, the possibility of infection is close to none. Similarly, the recovery time of the patient is a less with robotic surgeries.
Escalating utilization of robotic systems in various surgical procedures will spur the market progression:
The systems segment in the surgical robots market accounted for USD 1.3 billion in 2020 and it includes the robotic systems that are used to perform various surgical procedures. Robotic systems consist of innovative features such as 3D-HD visualization and are equipped with various surgical instruments used commonly during surgery. Robotic systems not only help surgeons in identifying the issue but also assist in performing critical surgical procedures with the use of their visualization and magnification capabilities thereby fostering the industry growth. Additionally, the utilization of robotic systems significantly reduces the risk of errors and post-operative complications that secures the industry expansion for robotic systems.
The growing adoption of surgical robots in gynaecology procedures will offer significant market revenue opportunities:
The gynaecology segment is estimated to witness around a 17.5% growth rate through 2027 led by the increased usage of robotically assisted surgeries for gynaecological procedures. Gynaecological surgeries include benign hysterectomy, myomectomy, and gynecologic malignancies among others. The robotic procedures’ growth has surged significantly since FDA has approved the da Vinci surgical system for usage in gynecologic surgery. Furthermore, the rising number of C-section surgeries and increasing patients’ inclination towards robotic-assisted minimally invasive surgeries are likely to push the industry's progression.
Increasing demand for surgical robots in hospital settings for effective patient care will offer lucrative market value prospects:
The hospital's segment was valued at USD 3.3 billion in 2020 impelled by the high number of inpatient visits and an increasing number of surgical procedures. Improving and better hospital infrastructure and skilled healthcare personnel in the developed regions and developing infrastructure scenarios in emerging economies will further augment the industry revenue.
The rising necessity of surgical robots in the North American region will accelerate the market growth:
North American surgical robots market is expected to attain a CAGR of over 17% CAGR by 2027 on account of the increasing number of surgical procedures and increasing usage of robotically assisted surgeries in the region. The presence of market leaders in the North American region along with several technological progressions in surgical robots will further fuel the industry size. Moreover, the market will prosper owing to surging awareness and a higher acceptance rate of surgical robots in the region.
Several growth strategies enforced by foremost market leaders have helped them maintain a strong position in the industry:
A few of the eminent companies operational in the market include Accuray, Corin Group, Globus Medical, Intuitive Surgical, Johnson & Johnson, Medtronic, Siemens Healthineers, Stryker, and THINK Surgical and Zimmer Biomet. These market participants are undertaking numerous enlightened strategies to garner a greater market share.
Some of the recent industry developments:
In January 2021, the Coring group announced the release of OMNIBotics 2.7, upgrading the robotic-assisted platform for use in total knee arthroplasty. This allowed the firm to expand its product portfolio.
In November 2020, Globus Medical announced its first surgeries with ExcelsiusGPS Interbody Solutions. This milestone further enhanced the brand name in computer-assisted surgery and spinal robotics.
The surgical robots market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2016 to 2027.
Market, By Component, 2016-2027 (USD Million)
Market, By Application, 2016-2027 (USD Million)
Market, By End-user, 2016-2027 (USD Million)
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