The global surgical
robot market is expected to reach USD 20.8 billion by 2024,
according to a new study by Grand View Research, Inc. The prevalence of chronic
disorders, such as chronic heart diseases and various types of cancer, is on a
rise. These diseases frequently require surgery as a line of treatment. With
the advent of surgical robot, these surgeries have become easier and less
traumatic, thereby propelling the demand over the forecast period.
The surgical robotic system causes
less postoperative complications and reduces the length of hospital stay for a
patient. This further helps to save treatment cost as well as labor cost. Owing
to these benefits, these devices are now favored by hospitals in developing as
well as developed regions.
The introduction of evolved systems
is expected to boost the market growth over the forecast period. The
development of computer software coupled with such robotic systems result in
higher precision and better viewing of the incision site. This is expected to
propel the demand over the forecast period.
The rising popularity of minimally
invasive procedures due to their patient-friendly nature is the vital driver
for this industry. Surgical robot help in performing complicated procedures
through navigation and magnification options.
Browse full research report on Surgical Robot
Further key findings from the study suggest:
- Robot systems held a lucrative share of around
42.0% in the product segment. Robot systems were followed by accessories
and are also anticipated to witness a substantial growth owing to their
frequent repurchase.
- On the other hand, services are anticipated to
grow at a lucrative rate of around 20.0% over the forecast period.
Periodic maintenance of the existing robotic systems is mandatory; hence,
this segment is anticipated to witness a substantial growth.
- The da Vinci Surgical System by Intuitive
Surgical, Inc. dominated this industry in 2015. This system is the first
U.S.FDA approved system; hence, retains the first mover advantage.
- ROSA surgical system by Medtech is anticipated to
witness a lucrative growth over the forecast period. These systems are
intended for the brain and spinal cord surgeries. Recent approval for ROSA
systems as well as expansion in European and North American Region by
Medtech is anticipated to support the growth of this system.
- Gynecology held significant share of around 30.0%
in application segment followed by general surgery segment which is
anticipated to witness remunerative share over the forecast period. Rising
prevalence of colorectal cancer further contributed towards the growth of
this segment.
- North America is the dominating market with
lucrative shares of around 60.0% in 2015. However, Asia Pacific is
projected to witness sturdy growth over the forecast period with the
fastest growth rate. Healthcare advancements as well economic developments
with the aid of government is anticipated to support the growth.
- The key players operating in this industry
include Intuitive Surgical, Inc., Accuray, MAKO /Stryker, Medtech
Surgical, Hansen Medical, TransEntrix, Titan Medical, Inc., and Renishaw
Plc.
- New product launches and collaborative
developments are key strategic initiatives undertaken by market players to
sustain the competition
- For instance, in July 2015, Accuray and Raysearch
Laboratories AB formed a strategic collaboration. Accuray will co-market
and offer Raycare Oncology Information System (OIS) in designated major
radiation markets
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global surgical robot market on
the basis of type, products, and region:
Global Surgical Robots Market By Product, 2014 - 2024
(USD Million)
- Robot System
- Instrument & Accessories
- Services
Global Surgical Robots Market By Brand, 2014 - 2024
(USD Million)
- da Vinci Surgical System
- CyberKnife
- ROSA
- MAKO
- Renaissance
- Other
Global Surgical Robots Market By Application, 2014 -
2024 (USD Million)
- General Surgery
- Urology
- Orthopedic
- Neurosurgery
- Cardiovascular
- Gynecology
- Radiology
- Transplant
- Gastrointestinal
- Others
Surgical Robots Market By Region, 2014 - 2024 (USD
Million)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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