Surgical Robotics Market by Component (Systems, Accessories and Services), by Surgery Type (Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery and Other Surgeries) – Global Opportunity Analysis and Industry Forecast, 2017-2024
Robotic Surgery Market Overview:
Robotic surgery is a type of minimally invasive surgery which utilizes robotics for performing surgical procedures. These robotic systems are operated by surgeons and consists of miniaturized surgical instruments which are mounted on robotic arms, thus allowing surgeons to perform the surgeries precisely. The global surgical robotics market was valued at $56,294.9 million in 2017, and is expected to reach $98,737.0 million by 2024 at a CAGR of 8.5% during the forecast period.
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The key factors driving the growth of surgical robotics market is the increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries. However, the high cost associated with surgical robotic surgeries & robotic systems will hamper the market growth. Additionally dearth of trained healthcare professionals impede the growth of surgical robotics market. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative opportunities in the surgical robotics market.
The global surgical robotics market is segmented on the basis of component, surgery type and region. On the basis of component, the market is segmented into systems, accessories and services. Based on surgery type the market is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Component segment review
The global surgical robotics market based on component is bifurcated into systems, accessories and services. Accessories dominated the global surgical robotics market in terms of revenue owing to the wide usage of accessories per surgical procedure. The accessories are replaced after each surgical procedure, thus contributing to the market revenue. Additionally, services is expected to be the fastest growing segment owing to the rise in robot assisted surgeries globally. This is due to the increase in geriatric population and chronic diseases such as diabetes, musculoskeletal, cardiac, cancer and other diseases.
Surgery type segment review
Based on surgery type the market is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Orthopedic surgery holds a dominant position in the market owing to the rise in orthopedic injuries globally. For instance, according to the National Health Statistics Reports, about 54.5% of the adults in the U.S. had musculoskeletal pain disorders in 2016.
Surgical robotics market, by region
The global surgical robotics market based on region is analyzed across North America. Europe, Asia-Pacific and LAMEA. North America dominated the global surgical robotics market in 2017 and in expected to retain its dominance throughout the forecast period. This is attributed to the well-established healthcare infrastructure and the increase in adoption of surgical robotic systems across various healthcare settings.
The report provides a comprehensive analysis of the key players operating in the global 3D medical imaging services market such as Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Intuitive Surgical, Inc., KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Mazor Robotics, Renishaw plc, Medtronic plc, THINK Surgical Inc., and Zimmer Biomet Holdings Inc. Other players operating in the value chain are Transenterix, Verb Surgical, Titan Medical, Microbot Medical, Accuray and Medrobotics.
Key Benefits
- The study provides an in-depth analysis with the current trends and future estimations of the global surgical robotics market to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided.
- The quantitative analysis of the industry from 2017 to 2024 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of key segments of the industry is provided to understand the type of surgical robotic systems used globally.
- Key players and their strategies are analyzed to understand the competitive outlook of the market.
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