The global Surgical Robotics market is expected to witness robust growth in the years to come. Factors such as advancement in technology in the healthcare sector, increasing old age population, and increased cases of movement-restricted health conditions are propelling the growth of the market to a great extent.
Furthermore, other crucial factors expected to boost the growth of the global surgical robotics market include increasing usage and acceptance of minimally invasive surgeries owing to several benefits. Also, these surgeries come with shorter hospital stays. Moreover, the launch of economical and versatile surgical robots by new market participants is anticipated to spur demand in the market. Further, international players' increasing penetration is having a beneficial impact on the growth of the market.
Other important factors such as the increased number of robotic surgical systems, the steady development of robotic surgical technology, and the rising popularity of robotics-assisted procedures such as hysterectomies are significantly contributed to the global Surgical Robotics market.
On the contrary, the staggering expense of surgical robots is a major factor that hammering the growth of the market. Besides, the rising number of permissions from regulatory agencies, such as the FDA to the market players is one of the prime aspects that support the market’s development at a large scale.
Covid-19 Impact on Surgical Robotics Market
In addition, the current Surgical Robotics Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Surgical Robotics Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Surgical Robotics Market Segment Overview
Based on Product Type, the Orthopedic Robotic Systems segment has significant growth in the global Surgical Robotics market. This is because Robot-assisted orthopedic surgery has the potential for improving surgical outcomes. In addition, the main advantages of robot-assisted orthopedic surgery over conventional orthopedic techniques are improved accuracy and precision in the preparation of bone surfaces, more reliable and reproducible outcomes, and greater spatial accuracy. Orthopedic surgery is ideally suited for the application of robotic systems. The ability to isolate and rigidly fix bones in known positions allows robotic devices to be securely fixed to the bone. According to Application, Orthopedic Surgery segment holds a dominant position in the market due to the increase in orthopedic injuries globally.
Surgical Robotics Market, By Product Type
· Orthopedic Robotic Systems
· General Laparoscopy Robotic Systems
· Neurosurgery Robotic Systems
· Steerable Robotic Catheters
Surgical Robotics Market, By Application
· Interventional Cardiology
· Orthopedic Surgery
· General Surgery
· Urological Surgery
· Neurological Surgery
· Others
Surgical Robotics Market Regional Overview
Geographically, North America commanded a major share in the market and is predictable to maintain its supremacy over the forecast period. This can be mainly attributed to the growth in popularity of automated frameworks by development in technology and emergency clinics. As well, better repayment policies and strong healthcare infrastructure are the key factors that are boosting the growth of the surgical robotics market in North America. Additionally, Europe is expected to represent a significant market share in the coming period. The increasing cases of tumors and large demand for surgical robots for hysterectomy and prostatectomy medical procedures are prime factors that escalating the growth of the market in this region. Likewise, Asia Pacific is expected to expand with an impressive CAGR over the forecast period. Huge technological development in the medical sector and the growing economy of developing countries of the region create various opportunities for the market’s expansion in this region.
Surgical Robotics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Surgical Robotics Market Competitor overview
Some key developments and strategies adopted by manufacturers in Surgical Robotics are highlighted below.
· In January 2021, Stryker announced that it has bought privately-held OrthoSensor and its Verasense intraoperative sensor tech that could further enhance the ortho giant’s Mako robots.
· In January 2021, TransEnterix, Inc. announced, the Company received CE Mark approval for the Intelligent Surgical UnitTM (ISUTM) that enables machine vision capabilities on the SenhanceⓇ Surgical System. This approval will provide Senhance digital laparoscopic programs in Europe access to this new technology, ushering them to the forefront of surgical innovation utilizing augmented intelligence.
Surgical Robotics Market, Key Players
· Accuray, Inc.
· Intuitive Surgical, Inc.
· Auris Surgical Robotics
· Think Surgical, Inc.
· TransEnterix, Inc.
· Hansen Medical
· Smith & Nephew plc
· Stryker Corporation
· Zimmer Biomet Holdings, Inc.
· Titan Medical, Inc.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Surgical Robotics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Orthopedic Robotic Systems
- 5.2.2. General Laparoscopy Robotic Systems
- 5.2.3. Neurosurgery Robotic Systems
- 5.2.4. Steerable Robotic Catheters
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Interventional Cardiology
- 5.3.2. Orthopedic Surgery
- 5.3.3. General Surgery
- 5.3.4. Urological Surgery
- 5.3.5. Neurological Surgery
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Surgical Robotics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product Type
- 6.2.1. Orthopedic Robotic Systems
- 6.2.2. General Laparoscopy Robotic Systems
- 6.2.3. Neurosurgery Robotic Systems
- 6.2.4. Steerable Robotic Catheters
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Interventional Cardiology
- 6.3.2. Orthopedic Surgery
- 6.3.3. General Surgery
- 6.3.4. Urological Surgery
- 6.3.5. Neurological Surgery
- 6.3.6. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Surgical Robotics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product Type
- 7.2.1. Orthopedic Robotic Systems
- 7.2.2. General Laparoscopy Robotic Systems
- 7.2.3. Neurosurgery Robotic Systems
- 7.2.4. Steerable Robotic Catheters
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Interventional Cardiology
- 7.3.2. Orthopedic Surgery
- 7.3.3. General Surgery
- 7.3.4. Urological Surgery
- 7.3.5. Neurological Surgery
- 7.3.6. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Surgical Robotics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product Type
- 8.2.1. Orthopedic Robotic Systems
- 8.2.2. General Laparoscopy Robotic Systems
- 8.2.3. Neurosurgery Robotic Systems
- 8.2.4. Steerable Robotic Catheters
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Interventional Cardiology
- 8.3.2. Orthopedic Surgery
- 8.3.3. General Surgery
- 8.3.4. Urological Surgery
- 8.3.5. Neurological Surgery
- 8.3.6. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Surgical Robotics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product Type
- 9.2.1. Orthopedic Robotic Systems
- 9.2.2. General Laparoscopy Robotic Systems
- 9.2.3. Neurosurgery Robotic Systems
- 9.2.4. Steerable Robotic Catheters
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Interventional Cardiology
- 9.3.2. Orthopedic Surgery
- 9.3.3. General Surgery
- 9.3.4. Urological Surgery
- 9.3.5. Neurological Surgery
- 9.3.6. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Accuray, Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Intuitive Surgical, Inc.
- 10.6. Auris Surgical Robotics
- 10.7. Think Surgical, Inc.
- 10.8. TransEnterix, Inc.
- 10.9. Hansen Medical
- 10.10. Smith & Nephew plc
- 10.11. Stryker Corporation
- 10.12. Zimmer Biomet Holdings, Inc.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
