Global Surgical Robots Market Set For Rapid Growth, To Reach Value Around USD 8,717 Million By 2024

28-Nov-2018 | Zion Market Research

Zion Market Research has published a new report titled “Surgical Robots Market by Component (Surgical System, Accessories, and Service) by Application (Gynecological, Cardiovascular, Neurosurgery, Laparoscopy, Urology and Others) and by End-users (Hospitals and Ambulatory Surgical Centers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 - 2024”. According to the report, the global surgical robots market was valued at approximately USD 4,324.4 million in 2017 and is expected to generate revenue of around USD 8,717.5 million by 2024, growing at a CAGR of around 10.5% between 2018 and 2024.

Surgical robots are used in robot-assisted surgeries or robotic surgery. Robotic surgery allows healthcare specialists in complex surgical procedures with more control, flexibility, and extra precision than conventional methods. The robot-assisted surgeries are commonly related to minimally invasive procedures, which are performed with small incisions. The surgical robots enhance precision and allow performing of complex and delicate operations that might not be performed via traditional methods. Surgical robots are computer-controlled, self-powered devices that are programmed to assist in the positioning and manipulation of surgical instruments.

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Increasing awareness about robot-assisted minimally invasive procedures is making the surgeons opt for surgical robots. The ease of handling lesser complications, such as surgical site infection and patient convenience, are likely to attract surgeons to perform robotic surgeries. From the patients’ perspective, shorter hospital stay, speedy recovery, and less pain certainly appeal to the patient population to undergo robotic surgery. Moreover, increasing disposable income and rapidly developing healthcare infrastructure in developing nations are likely to significantly drive the surgical robots market over the forecast time period.

Global Surgical Robots Market

By component, the surgical robots market is segmented into a surgical system, accessories, and service. The accessories segment is anticipated to hold the largest market share, due to the recurrent sales of accessories for surgical robotic systems and the demand for highly effective and efficient components that are easily replaceable. Gynecological, cardiovascular, neurosurgery, laparoscopy, and urology are the key applications segments of the surgical robots market. The gynecological segment dominated the market in terms of revenue in 2017, owing to the high adoption rate of robotics-assisted procedures due to increasing incidences of gynecological complications. The urology segment was another leading segment of the surgical robots market and is likely to grow significantly in the near future.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the major regional segments of the global surgical robots market. North America is anticipated to remain the leading region over the forecast time period, owing to high adoption and acceptance of surgical robotic procedures and well-established healthcare infrastructure in the region. Developing healthcare systems and supportive government policies for healthcare automation and surgical robotic procedures are likely to fuel this market’s growth in the Asia Pacific region. Developing nations, such as China and India, are the most prominent markets owing to the growth potential for the market players.

Some key players of the surgical robots market are Auris Surgical Robotics, Inc. (Hansen Medical Inc.), KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Medtronic plc, Intuitive Surgical, Inc., Renishaw plc, Mazor Robotics, THINK Surgical Inc., and Zimmer Biomet Holdings Inc.

This report segments the global surgical robots market as follows:

Global Surgical Robots Market: Component Segment Analysis

  • Surgical System
  • Accessories
  • Service

Global Surgical Robots Market: Application Segment Analysis

  • Gynecological
  • Cardiovascular
  • Neurosurgery
  • Laparoscopy
  • Urology
  • Others

Global Surgical Robots Market: End-user Segment Analysis

  • Hospitals
  • Ambulatory Surgical Centers

Global Surgical Robots Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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