Pune, India, Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, “Surgical Robots Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at USD 1,463.0 Mn in 2018. Fortune Business Insights predicts that the market will reach USD 6,875.1 Mn by 2026, thereby exhibiting a CAGR of 21.4% during the forecast period.
Market Growth Reasons:
- Advantages of robotic-assisted surgery
- Rising Regulatory Approvals Identified as Chief Growth Driver
- Increasing penetration of surgical robots in ASCs
- Increasing need for automation in the healthcare industry and the shifting trend towards advanced robotic surgeries
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Surgical Robots Market Developments:
In January 2018, 3D Systems and Stryker had a distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals, saving both surgeons and patients hours in the operating room.
In January 2019, Zimmer Biomet, received U.S. Food and Drug Administration clearance for the ROSA Knee System for robotically-assisted total knee replacement surgeries.
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Market Growth Factors:
As surgical robots are essentially dealing with sensitive parts of the body, regulatory authorities are somewhat reluctant to clear the products for usage. Having said that, recent advancements in surgical robots and the advent of high precision products have churned out several regulatory clearances.
Increasing regulatory approvals will favor the growth of the global surgical robots market. In 2019, Zimmer Biomet received clearance from the Food and Drug Administration (FDA) for the usage of its latest product ‘Rosa One Brain Application’.
The rise in death toll and injuries due to robotic surgeries will also impede the growth of surgical robots market. Moreover, untapped economies such as Brazil, India, China and other developing economies will create lucrative opportunities in the surgical robots market
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Market Segmentations:
By Application
- General Surgery
- Gynecology
- Urology
- Orthopedics
- Others
By End User
- Hospitals
- Ambulatory Surgery Centers
- Others
Surgical Robots Market Geographical Analysis:
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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