Life Sciences / Surgical Robotics Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Intuitive Surgical, Stryker, Mazor Robotics, Medtech S.A
Surgical Robotics Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Intuitive Surgical, Stryker, Mazor Robotics, Medtech S.A
Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Surgical Robotics Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 20.7% during the review period (2022 to 2027).
Surgical Robotics Market Overview
Surgical Robotics technology are help to assist a doctor in performing surgical procedures for assisted minimally invasive surgery, due to the use of robots, the surgery is accurate, and miniaturized, and the incision is small; reducing blood loss, reducing pain, and shortening healing time. The global Surgical Robotics market is anticipated to grow at a momentous growth rate owing to the opportunities like huge scope for profits through integrative industry-academia collaboration, investments, and new surgical applications which are there in the domain. Nevertheless, there are several restraints such as a limited number of skilled professionals and high costs of surgical robotic systems which are associated with the procedures. Surgical Robots are widely used in Open Surgery, a Minimal Invasive field. The most proportion of Surgical Robots is in Minimal Invasive and the sales proportion in 2016 is about 72%.
The accumulative market value was $5.46 billion in the year 2020 with Intuitive Surgical, Inc monopolizing the market with a whooping market share of 79.82%. Presently, the company is offering its 4th generational robotic platform which was first commercialized in 2014. Behind Intuitive Surgical, Inc was Stryker Corporation with a market share of 9.09%.
The driving factors behind the market growth are the rise in the need for automation in the healthcare industry and a novelty trend of robotics surgeries. However, the market can be hampered due to the high costs included in the procedures. Due to deaths because of the robotic surgery, there will be a hindrance in the market. Meanwhile, developing economies like India, and Brazil will represent a good business platform for the market. However, the high cost associated with surgical robotic surgeries & robotic systems will hamper the medical robots market.
The report also assesses the key opportunities in the Surgical Robotics market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Surgical Robotics Market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Who are the Major Players in Surgical Robotics Market?
Top Key players in the Surgical Robotics Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Surgical Robotics Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Intuitive Surgical, Stryker Corporation (NYSE: SYK), Mazor Robotics, Medtech S.A, THINK Surgical, Restoration Robotics, Medrobotics, TransEnterix and others.
Industry News:
Stryker is expanding its Mako SmartRobotics footprint to reach more veterans and military personnel experiencing joint pain.
04-Nov-2021: Stryker, one of the world's leading medical technology companies, continues to show its support for the United States military by collaborating with VA and military hospital systems across the country to provide innovative technology.
What are the major Applications, Types and Regions for Surgical Robotics Market?
The surgical Robotics Market is segmented based on the type, applications, companies and regions. The classification of Surgical Robots includes Laparoscopy, Orthopedics, and others, and the proportion of Laparoscopy in 2016 is about 70% and the proportion of Orthopedics is about 20% in increasing trend.
By Surgery Type
Gynecology Surgery
Urology Surgery
Neurosurgery
Orthopedic Surgery
General Surgery
Other Surgeries
By End Application,
Open Surgery
Minimal Invasive
By Component,
Systems
Accessories
Services
Surgical Robot's Market Regional Analysis:
North America surgical robots’ market is expected to attain a CAGR of over 17% by 2027 on account of the increasing number of surgical procedures and increasing usage of robotically assisted surgeries in the region. The presence of market leaders in the North American region along with several technological progressions in surgical robots will further fuel the industry size. Moreover, the market will prosper owing to surging awareness and a higher acceptance rate of surgical robots in the region. Following North America, Europe is the second-largest consumption place with a consumption market share of 20%. Asian countries, particularly Japan, China, and South Korea, with substantial investment in technological advancements, serve as new revenue pockets for the medical robotic systems markets.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
What is our Surgical Robotics Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 20.7% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Surgical Robotics Report
Evaluate Surgical Robotics market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Surgical Robotics market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Surgical Robotics Market is studied from 2017 - 2027.
What is the growth rate of Surgical Robotics Market?
The Surgical Robotics Market is growing at a CAGR of 20.7% over the next 5 years.
Who are the leading key players in Surgical Robotics Market?
What regions regions does this Surgical Robotics Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant Component of Surgical Robotics Market?
Systems, Accessories, Services
What are the significant Surgery Type of Surgical Robotics Market?
Gynecology Surgery, Urology Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Surgeries
What are the significant Applications of Surgical Robotics Market?
Open Surgery, Minimal Invasive
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
