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Surgical Robotic Systems Market Competitive Landscape Analysis with Forecast by 2025

Surgical Robotic Systems Market

, 14 June 2018 -- The global surgical robotics systems market is driven by technological advancements in the health care industry, and high prevalence of movement-restricting medical conditions

The growing trend of computer assisted or robotic minimally invasive surgery is expected to boost the growth of the market. Surgeons have adopted minimally invasive surgical (MIS) techniques for a wide range of applications such as cholecystectomy, appendectomy, prostatectomy, gastric bypass, ventral hernia repair, hysterectomy, colectomy, tubal ligation, and myomectomy. The number of cases of laparoscopic hysterectomy is projected to increase during the forecast period. About 96% of cholecystectomies is conducted laparoscopically. Hence, acceptance of and demand for surgical robots have risen in the last two decades. Surgical robots are medical devices that improve surgical outcomes by eliminating or reducing disadvantages in traditional surgery. Surgical robotic systems have been widely used for minimal invasive surgeries in specialties such as gynecology, cosmetology, open surgery, laparoscopic procedures, and flexible endoscopic procedures. These techniques cause minimal complications, reduce the risk of infections, cause less pain, and have faster recovery time which leads to shorter hospital stay in comparison with traditional therapies and treatments. These factors have helped in wide acceptance and adoption of surgical robotic systems by many medical facilities and centers.

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The global surgical robotics systems market is driven by technological advancements in the health care industry, increase in geriatric population, and high prevalence of movement-restricting medical conditions. Surge in health care costs, lack of skilled health care personnel, and rise in cost of labor are also some of the factors that have led to demand for incorporation of lean operation methods in hospital management. However, high cost of surgical robots is a major factor restraining demand, especially in the developing markets.

The global surgical robotics systems market can be segmented based on product type, application, end-user, and region. In terms of product type, the global market can be classified into surgical systems, instrument & accessories, and services & maintenance. Based on application, the global surgical robotics systems market can be divided into orthopedic surgery, interventional cardiology, general surgery, neurological surgery, urological surgery, and others. Major surgical robots such as the da Vinci robotic system are the pioneers in the market. It was among the first robotic surgical systems to be introduced in the market. The device’s scope in performing a wide range of surgical procedures and established efficacy in performing such procedures are the major factors responsible for the rise in demand for these devices. By far, the da Vinci surgical system is viewed as the most versatile robotic surgical system available in the market, as it performs a wide range of surgical procedures. Constant innovation in the system and improvement in its operative efficiency have resulted into a feeling of trust among surgeons worldwide in installing this system in their facilities. Increase in the number of surgical procedures which could be performed via these systems is likely to propel the surgical robotic systems market.

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Geographically, North America is the largest market for surgical robotic systems. Better reimbursement policies and existence of advanced health care infrastructure are the major drivers of the market in the region. The general population in North America is more aware about existence of health care robots and their added efficiency in surgical procedures and rehabilitation. The preference of medical practitioners for technologically advanced medical devices to enhance their productivity and eliminate redundant labor is high in North America. This is also propelling demand for medical robots in the region. On the other hand, improved health care infrastructure in the emerging economies in Asia Pacific, Latin America has given scope to establishment of new and more sophisticated healthcare facilities. This presents significant opportunity for the major players to introduce their robots in these regions.

Key players operating in the surgical robotic systems market are Intuitive Surgical, Inc., Accuray, Inc., Auris Surgical Robotics, TransEnterix, Inc., Think Surgical, Inc., Hansen Medical, Stryker Corporation, Smith & Nephew plc, Titan Medical Inc., and Zimmer Biomet Holdings, Inc.

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Submitted by hawer on Thursday, 14 June 2018 at 5:58 PM
Category: Health Care & Medical
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