Surgical Robots Market Growth, Industry Size Aquire a Potential Position with CAGR of 22.75%: Latest Technological Advancements Research by MRFR
Global Surgical Robots Market Projected to Expand Due to Increasing Usage of Automation in Healthcare
Pune, India – May 3, 2019 /MarketersMedia/ —
The Global “Surgical Robots Market” Is Anticipated to Expand at A CAGR of 22.75% During the Forecast Period Of 2017 to 2023 As Per the Released Report by Market Research Future (MRFR).
Surgical Robots Market Outlook
Robotic surgery is a modern methodology or approach of surgery that involves the usage of surgical robots, as the name suggests. Aside from this, the market is also positively influenced by the prevalence of cancer, various forms of neurological disorders, and other diseases.
These forms of surgical robots are used to increase the efficiency level in terms of performance and success rate. The approach is highly advantageous over traditional forms of open surgery. It ensures less pain, a striking level of accuracy and precision, small insertions, and many more advantages.,
Factors driving the market demand for surgical robots are increasing inclination towards the use of automation in the healthcare sector and the increasing demand for minimally-invasive forms of surgeries and more advanced form of robotics.
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However, risks associated with these form of surgeries, high cost involved with surgical robots, and a questionable perception towards technology can prove to be a major hindrance to the growth of the market.
The global surgical robots market includes a number of prominent players includes,
Google Life Sciences
Johnson & Johnson
Intuitive Surgical Inc.
Hansen Medical
TransEnterix
Medtronic
Stryker Corporation
Mazor Robotics
and other
Market Segmentation
The global surgical robots market segmentation is done on the basis of robotic surgery approach, application, and control mechanism.
By robotic surgery approach, the market includes shared control robotic surgical systems, supervisor-controlled robotic surgical system, telesurgery Systems, and robotic radiosurgery systems.
By control mechanism, the market divides into computer control and direct telemanipulator.
By application, the market comprises of gynecologic surgery, cardiac surgery, head and neck surgery, colorectal surgery, general surgery, urologic surgery, and other.
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Industry Updates
In 2019, Johnson & Johnson, a global healthcare giant, revealed its plan of acquiring Auris Health, a surgical robotics company, for a striking $3.4 billion in cash. The global giant looks to further expand its digital surgery business with this move.
In 2019, it was announced by Vicarious Surgical that it had closed down a USD 10 million round of funding that was led by billionaire Bill Gates’ Gates Frontier. The company mentioned its plans of continuing to develop its technology of combining surgical robots and VR with the money.
Regional Analysis
The global surgical robots market is regionally segmented into Asia Pacific, Europe, America, and the Middle East & Africa regions.
The Americas hold a dominant position in the Global Surgical Robots Market in the healthcare sector. The high percentage of growth in this region can be particularly attributed to various factors, namely strategic collaboration with assurance entities, growing financial capability of hospitals for investing in these advancing systems, general level of awareness concerning computer-assisted surgeries, and growing acceptance among patients for the usage of surgical robots due to enhanced healthcare results or outcomes. The market in the Americas is largely spearheaded by the US, which contributes the maximum share percentage herein. The market in the US region is growing radically due to the surging rate of acceptance for these robots for surgical procedures.
The European region holds the second largest share of the global market for surgical robots following the Americas. The market here is expected to grow at a continuous pace in the forthcoming years due to various factors. This includes the booming demand for minimally invasive forms of surgeries or unmanned and miniature robotics usage for surgeries and the imperative need and focus on automation as an important component in the healthcare sector. Additionally, rising incidences of colorectal cancer, gynecological diseases, and neurological disorders are also projected to majorly boost the adoption and subsequently the market growth of robotic surgical systems across the entire European region.
Meanwhile, the Asia Pacific regions comes-in third in the global standings due to its relatively slow growth rate thus far. The factor majorly influencing its slow growth period thus far is the snail-paced adoption and implementation of surgical robots in the healthcare industry. However, a major shift has been observed and forecasted, wherein the proliferation of the healthcare industry is shifting from regions such as Americas and Europe to Asia Pacific. Major factors influencing such a radical shift is the emergent need for high-quality healthcare facilities, infrastructure, and institutions, a constantly growing population base with added cost advantage, and growing number of private funds and favorable government initiatives run in this region.
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