New York, NY, Jan. 28, 2019 (GLOBE NEWSWIRE) -- 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.
Browse through 72 Tables & 21 Figures spread over 130 Pages and in-depth TOC on “Global Surgical Robots Market: By Type, Size, Share, Technology, Industry Trends, Applications, Analysis and Forecast, 2018 - 2024”.
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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.
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.
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North America is likely to dominate the surgical robots market due to favorable government framework, high adoption of surgical robots, and high acceptance rates of minimally invasive procedures by the patients. The U.S. is anticipated to dominate the North American market, owing to high disposable income and a large number of surgeries including cardiovascular, neurosurgery, and laparoscopy.
Europe is the second largest surgical robots market and is expected to show significant growth in the years to come, due to the high adoption of automation systems in the healthcare sector. Europe has a maximum focus on improving healthcare quality and efficiency. High geriatric population and the prevalence of chronic diseases and obesity are likely to attract patients for minimally invasive surgeries. Robust healthcare infrastructure and high patient awareness are also projected to propel this regional market’s growth.
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The Asia Pacific and Latin American markets are projected to register highest CAGRs during the forecast time period in the surgical robots market. Market growth is particularly projected in Brazil, China, and India, among other emerging countries where the market penetration of surgical robots is anticipated to be the highest. High unmet medical needs and increasing prevalence of chronic diseases have opened the doors for surgical robots systems, as they provide cost-effective procedures with shorter hospitalization period and faster recovery benefits. Moreover, a large patient pool, rising healthcare awareness, and growing medical facilities with supportive government facilities in the region are anticipated to fuel the market growth over the forecast time period.
The Middle East and Africa hold the least growth potential in the surgical robots market in comparison to other regions, due to lack of awareness and unfavorable government policies.
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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.
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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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