Dublin, May 20, 2020 (GLOBE NEWSWIRE) -- The "Robotic Surgery Devices Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global robotic surgery devices market.
The global robotic surgery devices market is expected to decline from $5.04 billion in 2019 to $4.84 billion in 2020 at a rate -3.91%. The decline is mainly due to the Covid-19 outbreak resulting in other patients delaying their episodes of care. The market is then expected to stabilize and reach $7.71 billion in 2023 at CAGR of 16.81%.
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Where is the largest and fastest growing market for the robotic surgery devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Robotic Surgery Devices global market report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider robotic surgery devices market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The robotic surgery devices market section of the report gives context. It compares the robotic surgery devices market with other segments of the robotic surgery devices market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, robotic surgery devices indicators comparison.
Major players in the robotic surgery devices market are Intuitive Surgical (US), Stryker (US), Medtronic (Ireland), Smith & Nephew (UK), TransEnterix (US), Mazor Robotics (US, Medrobotics (US), Accuray (US), and THINK Surgical (US).
The robotic surgery devices market consists of sales of robotic systems, instruments and accessories and services related to the robotic surgery devices market. Robotic surgery devices are advanced surgical devices compared to traditional laparoscopic surgery devices. These devices are used for Minimally Invasive (MI) surgeries in the eye, brain, heart and other parts of the body. These robotic surgery devices can be applied in Gynecological, Neuro, Orthopedic, and general surgeries. The robotic surgery devices are more cost-effective and introduced to reduce complications, Pain, reoperations, etc.
North America was the largest region in the robotic surgery devices market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.
The advances in surgical products and technologies in the health care industry are creating more opportunities in the robotic surgery devices market. Increasing investments in R&D is helping investors to create value for the customers by producing medical-surgical products like robotic surgery devices by using the latest technologies. With the use of robotic systems that are equipped with optical imaging, surgical tools, instruments, and accessories, the surgeries are made easier. Some of the surgical advances that are creating more value and opportunity in the healthcare industry include 3-D high definition endoscope (Multi-Angle Rear-Viewing Endoscopic tool) devices for Brain surgery, Smart surgical glasses (equipped with a video camera and Head-mounted monitor) that act as computers and can used for live observation of surgeries, surgical robots with artificial intelligence that acts as doctors, and humanoid robots which are used for highly critical surgeries in eye and brain.
The robotic surgery devices market covered in this report is segmented by product and service into robotic systems, instruments & accessories, services and by surgery type into urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, other applications.
Expensive robotic surgery is hampering the robotic surgery devices market. Robotic surgery is comparatively more expensive than other traditional ways of surgeries as it is associated with a lot of complications, requires highly trained senior doctors to operate robotic systems/instruments, complex technical operation, and maintenance. A single robotic system costs around $2 million and the surgery costs about a range of $3000 - $6000. The annual maintenance cost of robotic surgery devices usually costs between $100,000 - $170,000. The largest robotic surgery device manufacturer Intuitive Surgical supplies the single-use or disposable surgical tools used for robotic arms for surgeries. This is one of the reasons that robotic surgeries are more costly. The huge cost associated with robotic surgeries is therefore hindering the market growth.
In July 2019, Intuitive Surgical Inc. is an American corporation that develops, manufactures, and markets robotic products that have acquired Schlly Fiberoptic's robotic endoscope business. Schlly Fiberoptic is a major player in the visualization systems for Minimally Invasive (MI) diagnostic and surgical applications. This acquisition integrated Schlly's robotic endoscope manufacturing line, and two Schlly sites into some of the Intuitive operations which are the robotic-related manufacturing line from Denzlingen (Germany) , the manufacturing site in Biebertal (Germany) and the repair site in Worcester, Mass (USA). The acquisition's main aim is to strengthen the Intuitive's supply chain and increase its manufacturing capacity for visualization products to advance healthcare.
The rise in demand for minimally invasive technology is driving the robotic surgery devices market. Minimally Invasive (MI) surgery devices are equipped with imaging and catheter technologies that can be easily inserted into any parts of the body. Robotic surgery procedures are usually associated with minimally invasive surgeries. These technologies are mainly used for Heart, Laparoscopy, Orthopedic, Gynecological, and Urological surgeries. Robotic surgeries were introduced to reduce patient hospital length of stay (LOS), pain, complications, return to work time, and reoperations. According to the Intuitive Surgical company report, there is a 24% growth year on year for instruments and accessories.
Key Topics Covered:
1. Executive Summary
2. Robotic Surgery Devices Market Characteristics
3. Robotic Surgery Devices Market Size And Growth
3.1. Global Robotic Surgery Devices Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Robotic Surgery Devices Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Robotic Surgery Devices Market Segmentation
4.1. Global Robotic Surgery Devices Market, Segmentation By Product and Service, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Robotic Surgery Devices Market, Segmentation By Surgery Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Robotic Surgery Devices Market Regional And Country Analysis
5.1. Global Robotic Surgery Devices Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Robotic Surgery Devices Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Robotic Surgery Devices Market
7. China Robotic Surgery Devices Market
8. India Robotic Surgery Devices Market
9. Japan Robotic Surgery Devices Market
10. Australia Robotic Surgery Devices Market
11. Indonesia Robotic Surgery Devices Market
12. South Korea Robotic Surgery Devices Market
13. Western Europe Robotic Surgery Devices Market
14. UK Robotic Surgery Devices Market
15. Germany Robotic Surgery Devices Market
16. France Robotic Surgery Devices Market
17. Eastern Europe Robotic Surgery Devices Market
18. Russia Robotic Surgery Devices Market
19. North America Robotic Surgery Devices Market
20. USA Robotic Surgery Devices Market
21. South America Robotic Surgery Devices Market
22. Brazil Robotic Surgery Devices Market
23. Middle East Robotic Surgery Devices Market
24. Africa Robotic Surgery Devices Market
25. Robotic Surgery Devices Market Competitive Landscape And Company Profiles
25.1. Robotic Surgery Devices Market Competitive Landscape
25.2. Robotic Surgery Devices Market Company Profiles
25.2.1. Intuitive Surgical
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Stryker
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Medtronic
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. Smith & Nephew
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. TransEnterix
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The Robotic Surgery Devices Market
27. Robotic Surgery Devices Market Trends And Strategies
28. Robotic Surgery Devices Market Future Outlook and Potential Analysis
29. Appendix
Companies Mentioned
- Intuitive Surgical
- Stryker
- Medtronic
- Smith & Nephew
- TransEnterix
- Mazor Robotics
- Medrobotics
- Accuray
- THINK Surgical
- TINAVI Medical Technology Co. Ltd.
- Hansen Medical
- Auris Surgical Robotics Inc (Hansen Medical Inc)
- CMR Surgical
- Zimmer Biomet
- MedTech
- Corindus Vascular Robotics
- Renishaw
- Verb Surgical
- Meere Company
- Titan Medical
- Stereotaxis, Inc.
- KUKA AG
- Microbot Medical
- OMNIlife science Inc.
- Preceyes BV
- Microsure
- AvateraMedical GmbH
- Medicaroid Corporation
- TINAVI Medical Technology Co. Ltd.
- AOT AG
- Robocath
- Rob Surgical Systems
- Siasun Robot & Automation Co. Ltd.
- Curexo
- Hocoma
- Omnicell
- Arxium
- Ekso Bionics Holdings
- Globus Medical
- Maxar Technologies Limited
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