Pune, India, March 09, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global surgical robots market size valuation had reached USD 8052.67 million in 2020 and is expected to register substantial growth during 2021-2026. Growing demand for automated solutions in healthcare sector, rising elderly population, and increased pervasiveness of chronic conditions are primarily contributing towards the market remuneration.
The document specializes in highlighting the market segmentations, further illustrating various revenue generating opportunities prevailing in this business sphere. Apart from this, the study talks about the competitive arena of this marketplace, emphasizing the major development trends among the industry contenders.
It is worth noting that there has been an upsurge in demand for robotic assisted MIS owing to its various benefits such as increased safety, faster recovery, decreased scarring, smaller incisions and cuts, and affordability. Surgical robots add to these advantages by offering consistency, accuracy, and efficiency.
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Thus, widespread adoption of robotic assisted MIS (minimally invasive surgeries) has also augmented the demand for surgical robots owing to their greater precision, better screening, reduced pain, lower infection risks, and shorter hospital stays.
Surgical robots also allow surgeons to counter human limitations as well as eliminate any challenges associated with conventional surgical tools, further helping in reducing burden and improving patient outcome. Growing product demand in cardiac surgery as well as in neurosurgery coupled with rapid technological breakthroughs in the medical sector are also favoring the overall market outlook.
Impact of the COVID-19 pandemic
The outbreak of COVID-19 has had a significant impact on global surgical robots market growth. Various state and federal governments have imposed travel restrictions and enforced social distancing to reduce the spread of the virus.
Even the CMS (Centers for Medicare & Medicaid Services) had announced that all non-essential surgical, dental, and medical procedures to be postponed amidst the Coronavirus pandemic. This has had severe effects on revenues among medical product suppliers and healthcare providers.
Summarizing the market segmentations
Global surgical robots marketplace has been segmented on the basis of component type and surgical specialty. As per component type, the market is further split into services, disposables, and systems.
Moving on to surgical specialty, the industry vertical is bifurcated into orthopedic, urology, gynecology, general surgery, and others.
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Highlighting the competitive terrain
The competitive landscape of global surgical robots industry landscape is defined by companies such as THINK Surgical Inc., Medrobotics Corp., Asensus Surgical Inc., Renishaw plc, Accuray Inc., Zimmer Biomet, Smith & Nephew plc, Medtronic plc, Stryker Corp., and Intuitive Surgical Inc. These companies have been focusing on strategic collaborations as well as mergers and acquisitions to reinforce their market position.
For instance, Stryker Corp. acquired OrthoSensor as well as its Versense intraoperative sensor technology back in January 2021 in an effort to improve its Mako robots capabilities. Likewise, Medtronic improved its robot-assisted platform and broadened its portfolio by acquiring Digital Surgery in February 2020.
Global Surgical Robots Market by Component Type (Revenue, USD Million, 2016-2026)
- Services
- Disposables
- Systems
Global Surgical Robots Market by Surgical Specialty (Revenue, USD Million, 2016-2026)
- Orthopedic
- Urology
- Gynecology
- General Surgery
- Others
Global Surgical Robots Market Regional Forecasts (Revenue, USD Million, 2016-2026)
North America
- Canada
- United States
Europe
- France
- Germany
- Italy
- United Kingdom
Asia-Pacific
- China
- India
- Australia
- Japan
Global Surgical Robots Market Competitive Analysis (Revenue, USD Million, 2016-2026)
- THINK Surgical Inc.
- Medrobotics Corporation
- Asensus Surgical Inc.
- Renishaw plc
- Accuray Incorporated
- Zimmer Biomet
- Smith & Nephew plc
- Medtronic plc
- Stryker Corp.
- Intuitive Surgical Inc.
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Surgical Robots Market: Product Overview
4. Global Surgical Robots Market: An Analysis
4.1 Market Size, By Value, 2016-2026
4.2 Global Surgical Robots Market: Growth & Forecast
4.3 Impact of COVID-19 on Surgical Robots Market
5. Global Surgical Robots Market Segmentation, By Component
5.1 Competitive Scenario of Global Surgical Robots Market: By Component
5.2 Global Surgical Robots Market: Segment Analysis
5.3 By Systems - Market Size and Forecast (2016-2026)
5.4 By Disposables - Market Size and Forecast (2016-2026)
5.5 By Services - Market Size and Forecast (2016-2026)
6. Global Surgical Robots Market Segmentation, By Surgical Specialty
6.1 Competitive Scenario of Global Surgical Robots Market: By Surgical Specialty (2020 & 2026)
6.2 Global Surgical Robots Market: Segment Analysis
6.3 By General Surgery - Market Size and Forecast (2016-2026)
6.4 By Gynecology - Market Size and Forecast (2016-2026)
6.5 By Urology - Market Size and Forecast (2016-2026)
7. Global Surgical Robots Market: Regional Analysis
7.1 Competitive Scenario of Global Surgical Robots Market: By Region (2020 & 2026)
8. North America Surgical Robots Market: An Analysis (2016-2026)
8.1 North America Surgical Robots Market: Size and Forecast (2016-2026)
8.2 North America Surgical Robots Market ?? Prominent Companies
8.3 Market Segmentation By Component (Systems, Disposables and Services)
8.4 Market Segmentation By Surgical Specialty (General Surgery, Gynecology, Urology, Orthopedic and Others)
8.5 North America Surgical Robots Market: Country Analysis
9. Europe Surgical Robots Market: An Analysis (2016-2026)
9.1 Europe Surgical Robots Market by value: Size and Forecast (2016-2026)
9.2 Europe Surgical Robots Market: Prominent Companies
9.3 Market Segmentation By Component (Systems, Disposables and Services)
9.4 Market Segmentation By Surgical Specialty (General Surgery, Gynecology, Urology, Orthopedic and Others)
9.5 Europe Surgical Robots Market: Country Analysis
10. Asia Pacific Surgical Robots Market: An Analysis (2016-2026)
10.1 Asia Pacific Surgical Robots Market by value: Size and Forecast (2016-2026)
10.2 Asia Pacific Surgical Robots Market: Prominent Companies
10.3 Market Segmentation By Component (Systems, Disposables and Services)
10.4 Market Segmentation By Surgical Specialty (General Surgery, Gynecology, Urology, Orthopedic and Others)
10.5 Asia Pacific Surgical Robots Market: Country Analysis
11. Global Surgical Robots Market Dynamics
11.1 Global Surgical Robots Market Drivers
11.2 Global Surgical Robots Market Restraints
11.3 Global Surgical Robots Market Trends
12. Market Attractiveness and Strategic Analysis
12.1 Market Attractiveness Chart of Global Surgical Robots Market - By Component (Year 2026)
12.2 Market Attractiveness Chart of Global Surgical Robots Market - By Surgical Specialty (Year 2026)
12.3 Market Attractiveness Chart of Global Surgical Robots Market By Region (Year 2026)
13. Competitive Landscape
Related Report:
Medical Robots Market Size, COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027
The medical robots market is projected to observe substantial growth worldwide over the forecast timeframe 2021-2027, owing to the proliferating demand for efficient surgeries and increasing focus on reducing the risk of infections for healthcare professionals involved in traditional surgical procedures. Following the COVID-19 outbreak, it was crucial to protect healthcare professionals from getting infected due to exposure to the novel coronavirus. In the regional landscape, the Asia Pacific medical robots market valuation surpassed USD 1,606 million in 2020 and is anticipated to expand at a CAGR of 17.8% through the projected period. The ever-increasing global geriatric population and increasing investment towards healthcare automation, coupled with supportive health coverage policies by governments, are estimated to contribute to the regional market over 2021-2027.
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