Surgical Robots Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Surgical robots Market

The surgical robots market size was valued at USD 1.463 billion in 2019, and the market is now projected tgrow tUSD 22.381 billion by 2032, exhibiting a CAGR of 21.5% during the forecast period of 2019-2032.

The outbreak of coronavirus disease in the world disrupted the surgery robots market mainly because of the cancellation of a great deal of elective operations and the resources’ redistribution. This led ta temporary situation in which the use and integration of surgical robots seem tstagnate. For example, when elective surgeries were cancelled or postponed all over the world, it led ta reduced need for robotic surgical operations. This hindered the surgical robots market growth.

Open surgery, minimal invasive surgery, endoscopic surgery, are now in its advanced form, robotic surgery. Robotic surgical systems can accomplish intricate movements of geometrical accuracy in applications that are hard tget at using open surgery. This has led thigh demand and uptake of the minimally invasive surgeries one of the main factors underpinning industry growth for surgical robots. This drives the surgical robots market share.

There is the steady shift in the surgical robots market towards the creation of highly intelligent robotic systems. These systems rely on data generated by the surgical process that can be complemented with machine learning used for increasing accuracy, supporting the planning phase, and real-time operation. AI integration alshelps with enhanced data processing and foreseen results, as well as individual surgery approaches – such increase the safety of robotic-supported surgeries and their effectiveness.

Comprehensive Analysis of Surgical robots Market

The surgical robots market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int2 Segments, by application and by end-user.

The North American region was valued at USD 1.045 billion in 2018. It is dominating the market of surgical robots due tdeveloping health care infrastructure and high expenditure on the medical equipment and instruments. Among the numerous factors, it is necessary tdistinguish the high interest in robotic technologies based on the willingness of the hospitals tinvest in high-quality medical instruments for robotic-assisted surgeries. Hence there remains consistently growing a strong market hold through stake of existing key manufactures such as Intuitive Surgical of surgical robot and enhanced reimbursement policy.

Intuitive Surgical Inc. (U.S.), Medtronic (U.S.), Stryker (U.S.), Smith & Nephew (U.K.), Zimmer Biomet (U.S.), TransEnterix Surgical, Inc. (U.S.), Verb Surgical, Inc. (U.S.) and THINK Surgical, Inc. (U.S.) are significant players in the Healthcare market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In January 2019, Zimmer Biomet, has secured FDA clearance for the recently developed ROSA Knee System for its application in total knee arthroplasty surgeries facilitated through robotic assistance.

Segmentation Table

ATTRIBUTE DETAILS

By Application

General Surgery

Gynecology

Urology

Orthopedics

Others

By End User

Hospitals

Ambulatory Surgery Centers

Others

By Geography

North America (USA and Canada)

Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

Rest of World