Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Surgical Robots market anticipated fueling by the rapid increase in the adoption of robotic medical systems and the rise in the disposable income of people in emerging economies
Global Surgical Robots market likely to grow with a notable rate during the forecast period, 2020-2027. It is owing to the favorable regulatory scenario in developed countries to ensure the superior quality of the surgical robots being produced. Moreover, the surge in robot-assisted surgeries worldwide due to the rise in geriatric population and chronic diseases such as diabetes, HIV, asthma, etc. are projected to boost the global surgical robot market in the forthcoming periods. Additionally, an increase in the per-capita healthcare expenditure coupled with development in healthcare infrastructure in emerging countries will augment the robust growth of the global surgical robot market in the future timeline.
The surgical robot operation is more accurate compared with laparoscopy (two-dimensional vision), the three-dimensional vision can be magnified 10-15 times, which significantly increases the accuracy of the operation, recovers quickly after surgery, and heals well.
Furthermore, the growing adoption of minimally invasive surgeries among patients due to its benefits such as the need for shorter hospital stays by patients, which led to the growth of the global surgical robot industry in the future timeline. In addition, huge technological advancements in robotic surgery such as 3D-imaging, high definition microscopic cameras, data recorders data analytic systems, motion sensors, remote navigation systems, and robotic controlled catheters are estimated to boom the global surgical robots market in the forecast periods.
Products and Services Overview in the Global Surgical Robots Market
Based on products and services, the global surgical robot market classified into Instruments & Accessories, Robotic Systems, and Service. The robot systems will be the fastest-growing market by 2027, as it reduces surgical errors and has extraordinary control in minimally invasive surgeries.
Application in the Global Surgical Robots market
Based on application, the global surgical robots market segregated into General Surgery, Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery, and Others. The Neurosurgery segment will witness a higher growth rate during the forecast period due to the growing usage of robotic surgery to improve precision, control, and dexterity of surgical procedures to offer patients with a higher quality of operating interventions.
End-User Overview in the Global Surgical Robots Market
Based on end-user, the global Surgical Robot market categorized into Hospitals, Ambulatory Surgery Centers, and Others. Hospitals, segments accounted for a higher share in surgical robots market revenue in 2019 and are estimated to experience robust growth over the forecast timeframe. It is due to the growing focus on carrying out surgeries with better precision and ensuring more comfort for surgeons and the availability of resources and capabilities to deploy these platforms in hospitals.
Regional Overview in the Global Surgical Robots Market
By geography, the Global Surgical Robots Market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America expected to witness higher growth throughout the analysis timeframe. It is primarily due to the presence of key players, a large number of research activities, and a highly structured health care industry. Additionally, the increasing prevalence of cancer, cardiovascular, neurovascular, gynaecology, and other chronic diseases in these regions will drive the North America robot surgical market.
Global Surgical Robots Market: Competitive Landscape
Companies such as Intuitive Surgical, Stryker, Mazor Robotics, Smith & Nephew, Hansen Medical, Medrobotics, TransEnterix, Medtech, Renishaw, THINK Surgical, Globus Medical, Johnson & Johnson, Zimmer Biomet, and Omni are the key players in the Global Surgical Robots Market.