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Surgical Robots Market Projected To Grow At Cagr Of 8.5% Through 2026

by Hemant K. Market Research

The global Surgical Robotics Market was valued at $56,294.9 million in 2017 and is projected to reach $98,737.0 million by 2024, growing at a CAGR of 8.5% from 2017 to 2024. Orthopedic surgery dominated the market in terms of revenue and accounted for about one-fifth share of the global market in 2017.

Surgical robotic system is a technologically advanced surgical solution, used mainly during complicated surgical procedures. The surgical robotic system includes surgeons console, surgical arms and monitoring systems & software. The surgical robotic system market is gaining prominence in the recent years owing to rapid technological advancements, increasing investments in research and development and its extensive application in critical surgeries such as cardiac, orthopedic and neurosurgery. Further, wide scope of applications in different surgeries, increasing demands for advanced medical facilities and rising incidence of diseases such as cancer and musculoskeletal ailments & injuries, majorly supplement the growth of surgical robotics market. On the contrary, high costs of surgical robotic procedures, lack of awareness and inadequate presence of expertise professionals are major factors impeding the market growth.

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The global surgical robotics market is segmented into component, surgery type and region. Based on component, the market is segmented into systems, accessories, and services. The surgical robotics market based on surgery type is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and others. Regionally the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The Major Key Players Are:

Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Intuitive Surgical, Inc., KUKA AG, Stryker Corporation (MAKO Surgical Corp.), Mazor Robotics, Renishaw plc, Medtronic plc, THINK Surgical Inc., and Zimmer Biomet Holdings Inc.

Based on surgery type, the neurosurgery segment accounted for about one-sixth share of the total market in terms of value as well as volume and is expected to grow at a CAGR of 8.6% and 6.5% respectively during the forecast period. As robotic systems were primarily used for neurosurgeries and later widen its application. The need for precision during neurosurgery has led to an increase in adoption for surgical robotics.


COVID-19 Impact Analysis:

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.


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About Hemant K. Advanced   Market Research

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Joined APSense since, September 17th, 2021, From Pune, India.

Created on Dec 20th 2021 05:19. Viewed 225 times.

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