Pune, June 01, 2020 (GLOBE NEWSWIRE) -- The global robotic surgical procedures market size is anticipated to touch USD 13,271.6 million by the end of 2025 on account of the increasing inclination towards minimally invasive surgical procedures. Robotic surgery or robot-assisted surgery provides doctors the assistance to perform various complex procedures with more flexibility, precision, and control. It is mostly associated with minimally invasive surgeries, the popularity, and the success rate of which, will aid to the expansion of the market in the coming years. According to a recent report by Fortune Business Insights titled, “Robotic Surgical Procedures Market Size, Share and Industry Analysis By Product Type (Gynecology, Urology, General Surgery, Orthopedics, and Others), and Regional Forecast 2018-2025,” the value of the market was USD 3,912.2 million in 2017 and is likely to rise at a CAGR of 16.6% between 2018 to 2025.
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The Report Answers the Following Queries
- What is the competitive landscape of the market?
- How will the adoption of robotic surgical systems help the market gain momentum?
- What are the key industry developments in the market?
- Which strategies are adopted by players to emerge dominant in the market?
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Drivers & Restraints-
Rise in Willingness to Spend on Healthcare to Promote Growth
The increasing geriatric population and the prevalence of various chronic and acute diseases are factors promoting the robotic surgical procedures market growth. In addition to this, the advent of technological advancement in the medical sector such as real-time monitoring, artificial intelligence, and others are also adding impetus to the market. This, coupled with the increasing disposable incomes of people and their willingness to spend on minimally invasive surgeries is likely to help the market gain momentum in the coming years.
On the flip side, the high cost of setting up robotic systems is likely to pose challenges to the market in the coming years. Nevertheless, the advent of new applications in robot-assisted surgeries in fields such as orthopedics, neurology, gynecology, and others are expected to create lucrative growth opportunities for the market in the coming years.
Segment-
Gynecology Segment to Cover Dominance
Based on segmentation by type, the gynecology segment held the largest robotic surgical procedures market share in the market owing to its success rate and increasing popularity. In 2017, this segment earned 28.7%. However, the oncology segment is likely to rise at a rapid pace on account of the new product launches for orthopedic procedures.
Regional Analysis-
North America Emerged Dominant on Account of Increasing Adoption of Robot-assisted Surgery
Regionally, North America earned a revenue of USD 3,070.7 million in 2017 and emerged dominant. This is attributable to the rising application areas of surgeries assisted by robots and its increasing popularity in the developed nations such as the United States and Canada. This, coupled with reimbursement policies offered by the governments are likely to help this region continue dominating the market in the coming years. On the other side, improving healthcare facilities and the adoption of surgical robots in the developing nations of China and India are likely to help Asia Pacific market witnessed significant growth in the coming years.
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Competitive Landscape-
Companies Emphasizing on Product Offering for Better Position in Market
The global robotic surgical procedures market was dominated by Intuitive Surgical Inc. in 2017 owing to its high installed base in the United States along with other European nations. Additionally, this company is focusing on gaining approvals for new areas of application for the da Vinci surgical system. Other players are investing significantly in getting approvals for their digital surgical solutions from the FDA.
Major Industry Developments of the Market include:
November 2018 – Getinge and Verb Surgical Inc. entered a joint venture for developing digital surgical solutions and gaining revenues collaboratively.
February 2019 – The Food and Drug Administration approved the Ion endoluminal system, a product offering of Intuitive Surgical Inc. for minimally invasive biopsy of the peripheral lung.
March 2019 – The single-port system of Intuitive Surgical Inc. was approved by the FDA for treating tongue base resection, lateral oropharyngectomy procedures, and other transoral otolaryngology procedures.
List of the Key Companies Operating in the Robotic Surgical Procedures Market are:
- Medtronic
- Accuray Incorporated
- Intuitive Surgical, Inc.
- Stryker Corporation
- sVerb Surgical Inc.
- Zimmer Biomet
- Smith & Nephew
- CMR Surgical Ltd.
- Avatera Medical GmbH
- Other players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Robotic Surgical Systems Market (2017) - For North America, Europe, APAC and Rest of World
- Overview of the Robotic Surgical Procedures Volume (2017 and 2025) - At Global Level
- Pricing Analysis - Major Robotic Surgical Systems
- Distributor Analysis - For Major Manufacturers of Robotic Surgical Systems
- Key Mergers & Acquisitions
- Key Technological Advancements in Robotic Surgical Systems
- Regulatory Scenario
- Reimbursement Scenario
- Global Robotic Surgical Procedures Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Gynecology
- Urology
- General Surgery
- Orthopedics
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Rest of World
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Have a Look at Related Reports:
Medical Robotic Systems Market Size, Share and Global Trend By By Product (Surgical Robots, Telepresence Robots, Rehabilitation Robots), By End User (Hospitals, Ambulatory Surgery Centers, Rehabilitation Centers) & Geography Forecast till 2026
Surgical Robots Market Size, Share and Global Trend By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Geography Forecast till 2026
Rehabilitation Robots Market Size, Share and Global Trend By Type (Therapeutic Robots, Exoskeleton Robots, Assistive Robots, Others), By End User (Rehabilitation Centers, Hospitals, Others) and Geography Forecast till 2026
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