Surgical robots Market size was estimated at $7,510.7 Million in 2019 and is expected to reach $16,707.9 Million by 2027, growing at a CAGR of 12.1% during the forecast period of 2020 to 2027.
A surgical robot is a type of machine commonly known as a robot that assists or performs certain types of surgical procedures. This machine or robot is used by surgeons and can be found in hospitals.
There has been a huge increase in demand for this device due to the increase in precision and flexibility it gives surgeons as well as limiting the problems and complications that come with traditional surgeries. It is also minimally invasive meaning that the size of incisions needed is limited as well as taking much quicker for the patient to heal. It also contributes to less stress on the body, less pain after the provide, and is also been accredited for decreasing the risk of infections for patients.
The problem with this increase is that these machines are relatively new making it quite expensive not only to buy but to train your surgeons to be able to operate these machines. Another problem is that these machines may also experience problems such as mechanical failure or may misinterpret certain instructions carried out. This could result in a patient either being cut in the wrong place and face the risks of bleeding out or irreparable damage.
Surgical Robots Market Growth and Trends
Based on the application, the surgical robots market is segmented into neurosurgery, general surgery, urological surgery, gynaecological surgery, orthopaedic surgery, and other applications, of which the general surgery segment is predicted to grow at the highest rate in the coming years. Growth in this market segment stems from a surge in the use of surgical robots in general procedures, such as hernia repair, bariatric surgery, gastrectomy, Heller myotomy, cholecystectomy, transoral surgery, and pancreatectomy. Based on end-users, the market is categorised into hospitals and ambulatory surgery centres, where the demand for surgical robots in hospitals is mainly propelled by the increasing focus on performing surgeries with improved precision and ensuring more convenience and comfort for surgeons. Other factors adding to the market growth are increasing number of approvals granted by the health authorities to surgical robotic companies for research and development in image-guided robotic surgery and robotic automation. Furthermore, the rising number of surgical robotic systems and increased adoption of robot-assisted hysterectomies and other surgical interventions are bolstering the market growth. Improvement in healthcare infrastructure and the introduction of advanced medical systems is also most likely to facilitate the implementation of robotic systems of surgery in developing countries. Surgical robots have witnessed a paradigm shift in the last few years because of technological advancements in the areas of 3D-imaging, remote navigation systems, high-definition microscopic cameras, data recorders data analytic systems, robotic controlled catheters, motion sensors, and other accessories useful for surgeries for developing new applications for existing platforms and also create disruptive technologies that will drive the future market. There is an increasing trend of robotic companies entering into collaboration on technology platforms with third-party vendors to develop new surgical applications.
Surgical robots might undergo mechanical failures during surgery, which is a risk that could prevent people from resorting to robot-assisted surgeries.
Surgical Robots Market Competition
Key companies operating in this industry are Intuitive Surgical, Stryker, Restoration Robotics, Medtech S.A, Mazor Robotics, THINK Surgical, Medrobotics and TransEnterix.
• Surgical Robots Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Surgical Robots Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Open Surgery
• Minimal Invasive
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
The Middle East and Africa
• Saudi Arabia
Surgical Robots Market Companies
• Intuitive Surgical
• Restoration Robotics
• Medtech S.A
• Mazor Robotics
• THINK Surgical
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