Dublin, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The "Europe Surgical Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The surgical robots market in Europe is expected to grow from US$ 2,267.95 million in 2022 to US$ 5,059.11 million by 2028; it is estimated to grow at a CAGR of 14.3% from 2022 to 2028.
The surgical robots market players in Europe are focused on launching new products to expand their geographic reach and enhance capacities to cater to a greater than existing customer base. In October 2020, CMR Surgical announced the launch of its Versius Surgical Robotic System at Argenteuil Hospital, a leading public health center based near Paris, France. This announcement follows a competitive tender win for Versius, which has now been selected as a preferred surgical robotic system for minimal access surgery (MAS) by Resah.
Resah is one of the largest public purchasing centers in the healthcare sector, which collaborates with more than 700 public and private nonprofit hospitals and medico-social and social centers. The CORI System uses surgeon-controlled robotics, and its modular design will enable it to be scaled across the orthopedic service line. The company is planning to manufacture 100 units of the multi-arm novel 'Mantra' surgical robotic system in 2021.
Furthermore, the company has already invested ~ a 300 crores and is planning to invest another a 1,000 crores in boosting production. Moreover, according to a study conducted by CRM Surgical, it has been stated that ~6,000-6,500 robotic surgical systems have been installed in the last two decades. The installation is anticipated to surge during the forecast period owing to the growing development and innovations in the medical device industry. All these factors will contribute to the growth of the surgical robots market during the forecast period .
Market Overview
The surgical robots market in Europe is segmented into Germany, the UK, France, Italy, Spain, and the rest of Europe. The growth of the regional market is attributed to rising surgical procedures in Europe due to the increasing geriatric population. The geriatric population can be at a greater risk of prostate cancer, cardiovascular diseases, and orthopaedic-related problems, which increases the demand for surgical robots. Further, Europe is leading in the development of robotic surgery, particularly for lung cancer surgeries. Thus, all these factors contribute to the growth of the surgical robots market in Europe. The increasing application of robotic surgeries in orthopedics drives the market growth in Germany.
Europe Surgical Robots Market Segmentation
The Europe surgical robots market is segmented on the basis of component, application, end user, and country.
- Based on component, the Europe surgical robots market is segmented into instruments & accessories, robotic systems, and services. The instruments & accessories segment held the largest market share in 2022. -Based on application, the Europe surgical robots market is segmented into urological surgery, orthopedic surgery, general surgery, gynecological surgery, cardiothoracic surgery, neurosurgery, and others. The urological surgery segment held the largest market share in 2022.
- Based on end user, the Europe surgical robots market is categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment held the largest market share in 2022.
- Based on country, the Europe surgical robots market is segmented into Germany, the UK, France, Italy, Spain, and the rest of Europe. Germany dominated the market share in 2022. Intuitive Surgical; Smith+Nephew; Johnson & Johnson Services, Inc.; Stryker; THINK Surgical; Zimmer Biomet; Medtronic; Siemens Healthineers AG; Asensus Surgical, Inc.; and Renishaw plc are among the leading companies operating in the Europe surgical robots market.
Market Dynamics
Market Drivers
- Rising Number of Surgical Procedures
Market Restraints
- High Price of Surgical Procedures and Installation
Market Opportunities
- Developing Adoption of Robots-Assisted Surgery Systems
Future Trends
- Expansion and Launch of Innovative Products
| Report Attribute | Details |
| No. of Pages | 152 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ($) in 2022 | $2267.95 Million |
| Forecasted Market Value ($) by 2028 | $5059.11 Million |
| Compound Annual Growth Rate | 14.3% |
| Regions Covered | Europe |
Key Topics Covered:
1. Introduction
2. Europe Surgical Robots Market - Key Takeaways
3. Research Methodology
4. Europe Surgical Robots Market - Market Landscape
5. Europe Surgical Robots Market - Key Market Dynamics
6. Surgical Robots Market - Europe Analysis
7. Europe Surgical Robots Market - by Component
8. Europe Surgical Robots Market - by Application
9. Europe Surgical Robots Market - by End User
10. Europe Surgical Robots Market - by Country
11. Surgical Robots Market -Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Intuitive Surgical
- Smith+Nephew
- Johnson & Johnson Services, Inc.
- Stryker
- Zimmer Biomet
- Medtronic
- Siemens Healthineers Ag
- Asensus Surgical, Inc.
- Renishaw Plc
For more information about this report visit https://www.researchandmarkets.com/r/yv6kir
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