Surgical Robotics Market

SKU: DMMD2712 | Last Updated On: Oct 21 2022 | Available Formats

>Surgical Robotics Market Expected to reach a high CAGR of 11.52% By 2029:

Surgical Robotics Market is segmented By Product Type (Robotic Surgery Systems, Instruments, and Accessories, Robotic Surgery Services), By Indication (General Surgery, Orthopedic, Neurosurgery, Cardiovascular, Gynecology, Radiology, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Surgical Robotics Market was valued at USD 5050 million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 11.52% during the forecast period (2022-2029). Robot-assisted surgery (RAS) is a breakthrough medical technology and is gaining high traction for minimally invasive surgeries. RAS equipment are being highly preferred by surgeons to perform high-risk complex surgical procedures with more accuracy, control, and flexibility compared to conventional surgical procedures. Surgical robots have overcome the multiple limitations related to invasive surgical procedures as it is based on a minimally invasive laparoscopic (or keyhole) approach to perform surgeries.

As per DataM Intelligence, Surgical Robotics Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Surgical Robotics Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. Surgical Robotics Market in the United States and Canada produces the utmost share. Whereas the European Surgical Robotics Market is projected to continue its presence globally during the period of 2022- 2029.

Surgical Robotics Market Report Scope:

Metrics

Details

CAGR

11.52%

Segments Covered

By Product Type, By Usability, By Application, By Distributional Channels, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Regions Analyzed

North America, Latin America, Europe, Middle East, Africa, Asia Pacific, and the Rest of the world.

Major Companies Covered

Abbott Laboratories, EKF Diagnostics Holdings plc, BioMérieux SA, Atlas Medical, Quidel Corporation, BIOSYNEX SA, Prestige Brands Holdings, Swiss Precision Diagnostics (SPD) GmbH, Piramal Enterprises, NG BIOTECH SAS, and among the major companies listed in the final report.

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Surgical Robotics Market Dynamics

The market for surgical robotics has primarily driven the intensification of demand for minimally invasive surgeries due to clinical benefits such as reduced recovery time, hospital stay, and postoperative pain and clinical efficacy. The rising prevalence of chronic conditions and cancers will also boost the market growth as it in turn increases the clinical need for surgical interventions. In addition, new product innovations, rising healthcare expenditures in emerging countries, and a favorable reimbursement landscape in selected countries will further boost the market growth.

Premium product costs will majorly limit high product entrenchment in emerging markets. For instance, the cost of the da Vinci surgical system ranges from USD 0.5 million to USD 2.5 million. Thus, healthcare facilities in especially in emerging have low affordability scope for these devices. In addition, the risk of associated complications and product recalls are other restraints for surgical robotic equipment

Surgical Robotics Market Segmentation:  

By product, the global surgical robotics market is categorized into three broad product segments – Robotic surgery systems, Instruments and accessories, and Robotic surgery services. The instruments and accessories segment occupied the dominant share of more than 50% of the market. In terms of growth rate too, the instruments and accessories segment will witness high growth owing to the generation of recurring revenues.

Surgical Robotics Market Geographical Presentation:

The global surgical robotics market is segmented into North America, Europe, Asia Pacific, South America, and ROW. North America accounts for the dominant market share owing to the highest product entrenchment, high acceptance of robotics by surgeons as well as patients, advanced health care infrastructure, and favorable reimbursement landscape. The Asia Pacific is expected to witness the highest growth rate due to rising healthcare standards and an increase in demand for advanced medical equipment especially in countries such as China and India.

Surgical Robotics Market Competitive Landscape:

The market for surgical robotics is highly competitive and fragmented. Limited companies account for a major share of the market and the remaining minor share is occupied by several and small companies and start-ups. Almost all the top players in the market are focusing on the formation of research partnerships with universities and also strategic acquisitions. For instance, on 3rd May 2022, Auris Health Inc announced that its health surgical robot systems received 510(K) clearances from FDA for both bronchoscopy and urological procedures.

On 8th December 2021, Auris health announced that MONARCH is a robotic-assisted bronchoscopy procedure used in Hong Kong, marking this the first monarch procedure to take place outside of the United States. The Monarch is designed to evaluate the robotic-assisted bronchoscopy's clinical safety and diagnostic accuracy with biopsy.

On 12th April 2022, Intuitive Surgical launched its My intuitive app (MIA), a unique platform for surgeons using da Vinci surgical systems.

Frequently Asked Questions

What is the Projected CAGR value of the Surgical Robotics Market?

Surgical Robotics Market is expected to grow at a CAGR of 11.52% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Surgical Robotics Market during 2022-2029

Which is the fastest growing region in the Surgical Robotics Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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