April 08, 2020
As per the report titled ‘Surgical Robots Market Size By Component, By Application, By End-user Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global surgical robots market is projected to amass USD 24 billion by the year 2025.
Rising inclination towards minimally invasive procedures among the patients will propel the growth of surgical robots market. Benefits associated with surgical robots including shorter recovery time, reduced post-care discomfort, and need for minimal blood transfusions are augmenting the market outlook.
Increasing number of robot-assisted surgeries with high accuracy and precision, coupled with less cases of surgical site infection are positively impacting the market growth. Technological advancement such as ROSA spine surgery robot which allow deep brain stimulation and implantations of electrodes for functional procedures such as biopsies will present new opportunities for growth in the coming future. On the contrary, high cost of surgical robots and lack of skilled professionals in developing nations may hamper the market growth.
Based on the component, robotic systems segment is anticipated to grow by 24% through 2025, on account of increasing preference for minimally invasive procedures. Low blood loss, maximum control, and high precision in robot assisted surgeries as compared to conventional procedures are other factors stimulating the adoption of robotic systems.
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Speaking of the application scope, orthopedic surgery segment accounted for 13% revenue share in 2018 and is presumed to see considerable growth during the analysis period. The growth can be attributed to the ability of surgical robots to accurately implant the bone as in hip replacement surgeries. Increasing cases of arthritis will further enhance the segment growth in the coming years.
Elaborating the end-use spectrum, surgical robots market share from ambulatory surgical centers was worth USD 1.6 billion in 2018 and is expected to show modest gains during 2019-2025. Low operational cost and short hospitalization time are supporting the preference for ambulatory surgical centers (ASCs) among patients. Increasing number of multispecialty ASCs which provide minimally invasive treatments for various chronic conditions will further boost the demand for surgical robots.
Considering the regional outlook, surgical robots market in U.S. amassed USD 2.2 billion in 2018 and is slated to similar growth trends over the analysis timeframe. Higher adoption of advanced robots coupled with increasing geriatric population who are highly prone to chronic disorders are driving the regional market growth.
Prominent players of surgical robots market include Mazor Robotics, MedTech, Hansen Medical, THINK Surgical, Smith & Nephew, Medrobotics, Stryker, Renishaw, and Intuitive Surgical among others.
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