Surgical Robotics Market to Grow at 7.4% CAGR by 2030
Growing burden of targeted disorders followed by technological advancement as well as growing demand for minimally invasive surgical procedures accompanied by rising healthcare expenditure is expected to drive the growth of Surgical Robotics industry during the forecast period of 2020-2030.
The Surgical Robotics Market is expected to grow at the CAGR of 7.4% from 2020-2030, according to a new research report by Next Move Strategy Consulting
Surgical robotics is specially designed robots used in healthcare industry to carry out surgical procedures mostly minimally invasive surgical procedures. These robots have specially designed arms which are used to mount surgical instrument as per the requirement such as scalpel, camera, clamps and others. These surgical robots are controlled by the surgeons followed by the improved efficiency of surgery with precision along with high success rate.
According to the report, constant growth in the minimally invasive surgeries owing to several advantages along with favourable reimbursement scenario is likely to drive the market growth. On the other hand, high success rates along with growing burden of several disorders are also likely to promote the market growth. There have been various technological developments as well as presence of well established healthcare facilities. In addition, growing consumer awareness followed by rising healthcare expenditure is anticipated the market growth. Moreover, growing demand for automation along with the growth in medical tourism services may tend to bring change in market trends in the near future.
However, high cost of surgical robotics accompanied by the growing integration of complex technology along with lack of skilled professional can restrain the market growth. Moreover, growing adoption of surgical robotics with constant launch of new product owing to the ongoing research & development activities is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of component, the surgical robotics market share is segmented into Systems, Services and Accessories. Services are one of the lucrative segment developing with the significant CAGR in the global surgical robotics market and will be the dominant during the forecasted period.
On the basis of surgery type, the surgical robotics market is categorised into Gynaecology Surgery, Urology Surgery, Neurosurgery, Orthopaedic Surgery, General Surgery, and Other Surgeries. Orthopaedic surgeries hold the dominant position owing to the growth in trauma cases along with sports injuries. It has also expected to maintain its dominance over the forecast period.
Based on End User, the market is fragmented into hospitals and ambulatory surgical centres. Hospitals accounts for the major market share and maintain its dominance over the over the forecast period.
North America is likely to account for the highest market size & share of the surgical robotics market in the forecast period 2020–2030 owing to the well developed healthcare industry along with the technological advancement accompanied by the presence of major mark players in the region. Europe accounts for the second leading position in the surgical robotics market size. Asia Pacific is expected to be the fastest developing region in the surgical robotics market which is majorly driven by the growing burden targeted disease followed by the growing demand of minimally invasive surgical procedures. In addition, rising healthcare expenditure with developing healthcare facilities are also expected to fuel the market growth.
According to the report, some the key players in the surgical robotics market are Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Smith & Nephew Plc. (Blue Belt Technologies, Inc.), KUKA AG, Intuitive Surgical, Inc., Stryker Corporation (MAKO Surgical Corp.), Renishaw plc, Medtronic plc, Mazor Robotics, Zimmer Biomet Holdings Inc. and THINK Surgical Inc..
Browse key industry insights from the report at https://www.nextmsc.com/report/surgical-robotics-market in detail along with the table of contents:
Key Insights from the Surgical Robotics Market Report:
- Asia Pacific is the fastest growing Surgical Robotics market owing to the rising demand for the surgical robotics from paper and pulp industry, presence of huge chemical industry, low labour cost, and presence of developing economies.
- The service dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Smith & Nephew Plc. (Blue Belt Technologies, Inc.), KUKA AG, Intuitive Surgical, Inc., Stryker Corporation (MAKO Surgical Corp.), Renishaw plc, Medtronic plc, Mazor Robotics, Zimmer Biomet Holdings Inc. and THINK Surgical Inc..
The report Surgical Robotics market – segmented by component, surgery type, end user and geography
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