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Surgical robots Market Size with Technological Advancements and Competitive Growth Analysis To 2024

Surgical robots are used for robotic-assisted surgery, a minimally invasive surgery, allowing doctors to perform many complex procedures with more flexibility, precision, and control, which is not possible with conventional techniques.

Major drivers of the global surgical robots market growth are technological advancements in surgical robots and the rising preference for minimally invasive surgeries. The rising adoption of advanced medical technologies and surgical robots across the globe has also sped up market growth.

Market Research Future (MRFR), pegs that this market can elevate at 18.94% CAGR during the forecast period (2016-2024). Regarding valuation, the worth of this market can be USD 19,596.61 Mn by the end of the forecast period.

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the global surgical robots market growth include accuracy, flexibility, increasing demand for automation in the healthcare sector, increasing innovation in medical technology, rise in spending on research & development (R&D) in the medical sector, and increasing prevalence of different diseases. Medtronic is developing a soft tissue surgical robot system that is expected to arrive in the market to operate in the medical sector by 2021. However, some factors that can pull down the market growth include high cost of surgical robots and risks associated with robotic surgeries.

Big players in the global surgical robots market are

Intuitive Surgical Inc. (USA)

Hansen Medical (USA)

Mazor Robotics (Israel)

Medrobotics Corporation (USA)

Medtech SA (France)

Merck Co. & Inc (USA)

Renishaw PLC (UK)

Smith & Nephew (UK)

Stryker Corporation (USA)

TransEnterix Inc. (USA)

Verb Surgical Inc. (USA).

Market Segmentation

The global surgical robots market is segmented by application, control mechanism, end-user, and product type. MRFR’s research on the market highlights many factors of the market in-depth.

The Application-based segmentation of the market can cover cardiac surgery, colorectal surgery, general surgery, gynecologic surgery, head & neck surgery, urologic surgery, and others.  In the context of the control mechanism, the market has been segmented into computer control and direct telemanipulator.

Based on end-user, the market has been segmented into ambulatory surgical centers and hospitals. Regarding product type, the market has been segmented into instrument & accessories, robotic systems, and services.

3 Market Dynamics

3.1 Introduction

3.2 Drivers

3.2.1 Technological Advancements in Surgical Robots

3.2.2 Rising Preference for Minimally Invasive Surgeries

3.2.3 Increase in Funding for Surgical Robot Research

3.2.4 Rising Adoption of Advanced Medical Technologies and Surgical Robots

3.3 Restraints

3.3.1 High Cost of Surgical Robots

3.3.2 Risks Associated with Robotic-Assisted Surgeries

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3.4 Opportunities

3.4.1 Consolidation of Large Healthcare Players

3.4.2 Great Research and Development

3.5 Challenges

3.5.1 Infant Stage of Development

3.5.2 Lack of Compatible Instruments and Equipment

Regional Segmentation

A geographical outlining of the global surgical robots market covers the Americas (North America & Latin America), Europe, Asia Pacific, and the Middle East & Africa (MEA).

America accounts the largest market for surgical robots which is followed by Europe. Increasing financial capability of hospitals, strategic collaboration with assurance companies, growing demand for minimally-invasive surgeries and increasing prevalence of diseases like cancer, neurological disorders and many more has led to the growth of this market in America and Europe. Germany is the major contributor for the Europe surgical robots market. In 2016, Germany surgical robots market was USD 1,157.6 million. Asia Pacific is the fastest growing region. Presence of emerging economies like India, China and Republic of Korea has boosted the growth of this market in Asia Pacific. Asia Pacific surgical robots market is expected to grow at a CAGR of 23.36 % forecast period from 2017-2023.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our cooked research report (CRR), half-cooked research reports (HCRR), raw research reports (3R), continuous-feed research (CFR), and market research & consulting services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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