Pune, March 29, 2022 (GLOBE NEWSWIRE) -- Surgical Robots can be defined as robots that are integrated within the surgery process. Surgical robots integrate advanced computer technology with the experience of skilled surgeons. Surgical robots are essential for minimally invasive surgery because they allow for precise manipulation of surgical tools that are beyond people’s capability in a small surgery room. They are primarily used in gynaecological, urological, orthopedic, general, neurosurgeries, and other minimally invasive surgeries. Rising prevalence of chronic diseases and increasing number of surgical procedures across the globe will create lucrative growth opportunities for surgical robots market.
The shortage of physicians and surgeons all over the globe and the increasing adoption of automated instruments used for surgery are the major factors driving the market. The increasing investments by the regional and international players in the introduction of new and technologically advanced surgical robots are also positively impacting the market growth. Growth in this market is primarily driven by the advantages of robotic-assisted surgery, technological advancements in surgical robots, the increasing adoption of surgical robots, and the increase in funding for medical robot research. The increasing need for automation in healthcare, increasing population, increasing prevalence of chronic diseases and highly complex surgeries are some of the major factors driving the Surgical Robots market growth. Furthermore, the increasing number of C-section operations and patients' preference for robotic-assisted minimally invasive surgeries are expected to propel the industry growth. Moreover, increasing spending on the healthcare sector can offer a lucrative growth opportunity for the market.
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Over the past few decades, the global healthcare sector has witnessed significant infrastructural development considering the changing consumer and manufacturing preferences. Globally, the demand for minimally invasive surgeries (MIS) is on the rise mainly due to the advantages associated with these procedures, such as smaller incisions, fewer cuts, decreased scarring, reduced pain, increased safety, faster recovery periods, and considerable cost savings. Robotic minimally invasive surgery adds to these advantages by ensuring greater accuracy, repeatability, control, and efficiency. Robotic surgery also offers highly advanced visualization capabilities that provide surgeons with a superior view of the operating area, using HD cameras to illustrate microscopic structures. These systems provide greater dexterity than the human hand; given their ability to rotate 360 degrees and superior maneuverability, robots can allow surgeons to reach hard-to-access areas. These advantages of surgical robots and the rising demand for better, quicker healthcare services are expected to drive the growth of the overall surgical robots market in the coming years.
Furthermore, the growing prevalence of bone degenerative diseases and the rising number of hip and knee replacement surgeries due to the increasing cases of arthritis and osteoporosis are the major factors anticipated to fuel the market growth. For instance, according to the Agency for Healthcare Research and Quality report, over 4,50,000 hip replacement surgeries are performed each year in the U.S. In addition, as per the Australian Institute of Health and Welfare (AIHW) statistics, the total knee replacement rate for osteoarthritis has been increased by about 38% from 2005-2006 to 2017-2018.
The global surgical robots market based on component is bifurcated into systems, accessories and services.
Accessories dominated the global surgical robotics market in terms of revenue owing to the wide usage of accessories per surgical procedure. The accessories are replaced after each surgical procedure, thus contributing to the market revenue. Additionally, services is expected to be the fastest growing segment owing to the rise in robot assisted surgeries globally. This is due to the increase in geriatric population and chronic diseases such as diabetes, HIV/AIDS, asthma, arthritis and other diseases.
Based on surgery type the market is segmented into genecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and other surgeries. Orthopedic surgery holds a dominant position in the market owing to the rise in orthopedic injuries globally.
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COMPANY PROFILES (Business Overview, Products/Services Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
- Intuitive Surgical
- Mazor Robotics
- Zimmer Biomet (Medtech )
- Auris Health, Inc. (Hansen Medical)
- TransEnterix Surgical, Inc.
- Stryker
- Smith & Nephew
- Renishaw plc
- Medrobotics
- Think Surgical, Inc.
Key Developments in Surgical Robots Market
Stryker has acquired OrthoSensor and its Verasense intraoperative sensor tech to enhance the ortho giant's Mako robots.
TransEnterix received CE Mark approval for its Intelligent Surgical Unit that adds AI-based capabilities and enables machine vision capabilities on the TransEnterix's Senhance robotic surgery system.
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