Surgical Robotics Market is valued around USD 66.02 Billion in 2019 and expected to reach USD 158.70 Billion by 2030 with the CAGR 8.3% over the forecast period.
Surgical Robotics is used in the surgical procedure especially in minimally invasive surgical procedures. These robots have arms which are used for mounting the surgical instrument to carry out the entire surgical procedures. These robots can be controlled by the surgeons and ensure the high accuracy with high success rates.
Global Surgical Robotics Market report is segmented on the basis of components, surgery type, end user and by regional. Based upon components, the surgical robotics market is fragmented into marine Systems, Services and Accessories. On the basis of surgery type, the market is categorized into Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, and Other Surgeries. Based on end user, the market is fragmented into hospitals and ambulatory surgical centers. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The surgical robotics market is mainly driven by the technological advancement along with growing burden of targeted disorders. There has been growing demand for automation as well as high accuracy with high success rates of surgical procedures. In addition, growing demand for minimally invasive surgical procedures owing to various advantages over conventional surgical procedures along with favorable reimbursement policies. On the other hand, rising healthcare expenditure as well as medical tourism is also expected to enhance the market growth. Over the period of time there has been constant development in healthcare facilities as well as infrastructure owing the ongoing research & development activities may also promote the market growth. However, high cost of the surgical robotics with complex technology followed by lack of skilled professional are likely to inhibit the market growth.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of advanced technology with the presence of major market players. In addition, presence of well-developed infrastructure with high expenditure on healthcare activities may enhance the market growth. Asia Pacific is expected to dominate the surgical robotics market in terms of growth rate owing to the rapid growth targeted disorders followed by growing demand of minimally invasive surgical procedures. Moreover, development in the healthcare facilities as well as growth in consumer awareness followed by growth in medical tourism in the region is likely to propel the market growth.
The major market players profiled in the surgical robotics market includes Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Smith & Nephew Plc. (Blue Belt Technologies, Inc.), KUKA AG, Intuitive Surgical, Inc., Stryker Corporation (MAKO Surgical Corp.), Renishaw plc, Medtronic plc, Mazor Robotics, Zimmer Biomet Holdings Inc. and THINK Surgical Inc. among others.