According to the current analysis of Reports and Data, the global Robotic surgery market was valued at USD 4.94 Billion in 2021 and is expected to reach USD 11.90 billion by the year 2030, at a CAGR of 10.3%. Robotic surgery include surgery assisted by robots added with the systems to reduce human errors like trembling while doing operations. It is a technological advancement that has a concern to shift over to minimally invasive surgical procedures. Robotic surgery has a tremendous potential to grow, as the physical presence of the surgeon is not necessary. In Robotic surgery, the primary market driver is technological advancement, and a hike in road accidents is expected to fuel the market growth during the forecast period. For instance, according to the numbers given by the Association for Safe International Road Travel (ASIRT) in 2018, about 20-30 million get injured or disabled in road accidents every year. The escalating accidental ratios and the need to have better aesthetics would propel market growth.
Furthermore, the rise in the geriatric population and upsurge in demand for minimally invasive surgical procedures over the traditional methods of surgical procedures are anticipated to fuel the industrial growth in the coming years. In addition, the surge in the initiatives taken by the government for awareness regarding such procedures and an increase in the spending capacity of an individual is expected to help the industry to gain traction in the near future.
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Further key findings from the report suggest
- The global leaders are competing to innovate the products to have the largest share in the market. For instance, in December 2017, Think Surgical Inc. announced that the U.S. Food and Drug Administration had granted clearance for it to market the TSolution One system for total knee replacement in the U.S. The robot had earlier received CE Marking, and surgeons have used it in more than 550 procedures in the Asia-Pacific and European markets.
• The competition in Robotic surgery is very high due to the increase in the need for minimally invasive procedures. The companies now are making agreements for penetration in the market. For instance, In May 2018, Stereotaxis Inc. and Acutus Medical declared collaboration and signed an agreement to integrate the Niobe Magnetic Navigation System with Acutus Medical AcQMap, a High-Resolution Imaging and Mapping System. This technology integration helps the patient to allow better improvement of patient care and physician experience.
• In 2019, Stryker acquired Cardan Robotics and Mobius Imaging to spread its hands-on Orion robotics and navigation system for surgical and interventional radiology. The expansion of the companies to ensure better systems and accessories to be installed for Robotic surgery is expected to fuel the growth of the market in the forecast period.
• According to the World Health Organization in 2019, it is observed that there were about 703 million people aged 65 years and above in the world in 2019 and is estimated to double to 1.5 billion by 2050. The increasing geriatric population would owe to push up the growth of Robotic surgery, especially in the orthopedic segment of the application.
• According to the estimates given by the Association for Safe International Road Travel (ASIRT) in 2018, about 20-30 million get injured or disabled in road accidents every year. The need for having better aesthetics and an increase in the spending capacity of the individuals will help the market to gain traction in the coming years.
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Competitive Outlook of the Global Robotic surgery Market
The globla Robotic surgery market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Robotic surgery market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Surgical, Stryker, Mazor Robotics, Smith Nephew, Hansen Medical, Renishaw, Transenterix, Think Surgical, Medtech, and Zimmer Biomet.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Robotic surgery Market Segmentation:
Components Outlook (Revenue, USD Billion; 2019–2030)
• Robotic System
• Instruments Accessories
Applications Outlook (Revenue, USD Billion; 2019–2030)
• Orthopedic Surgery
• Gynecologic Surgery
• Cardiothoracic Surgery
• General Surgery
• Plastic Surgery
End-use Outlook (Revenue, USD Billion; 2019–2030)
• Ambulatory Surgical Centers
Geographic Segment Covered in the Report:
The Robotic surgery report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)
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