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Global Surgical Robots Market Size & Share Forecasted to Grow Over USD 10.3 Billion By 2028 | CAGR: 21.9%: Polaris Market Research

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Global Surgical Robots Market Size & Share Forecasted to Grow Over USD 10.3 Billion By 2028 | CAGR: 21.9%: Polaris Market Research

April 23
03:57 2022
Global Surgical Robots Market Size & Share Forecasted to Grow Over USD 10.3 Billion By 2028 | CAGR: 21.9%: Polaris Market Research
According to the research report, the global surgical robot market size & share was valued at USD 2.37 billion in 2020 and is expected to reach USD 10.3 Billion By 2028, to grow at a CAGR of 21.9% during the forecast period.

According to the research report, the global surgical robot market size & share was valued at USD 2.37 billion in 2020 and is expected to reach USD 10.3 Billion By 2028, to grow at a CAGR of 21.9% during the forecast period.

What are Surgical Robots? How Big is Surgical Robots Market Size & Share?

  • Overview

 

Robotic surgery is a robot-assisted surgery that permits doctors to carry out several complicated processes with accuracy, control, and flexibility that is imaginable with conventional techniques. Robotic surgery is linked with marginally encroaching surgery procedures executed through miniature incisions. It is also sometimes used in established traditional open surgical procedures. The most extensively used clinical robotic surgical system involves a camera arm and mechanical arms with surgical tools connected to them.

Surgeons who use the robotic system discover that for several procedures, it intensifies precision, flexibility, and regulation during the operation and permits them to better see the site as compared to conventional techniques. Utilizing robotic surgeries, surgeons can carry out refined and complicated procedures that may have been demanding or unfeasible with other methods.

Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/surgical-robot-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Important Questions Being Answered by The Market Report

  • What is the market size and growth?
  • What was the value of the global surgical robot market in the forecast period?
  • At what CAGR is the surgical robot market impending to grow in the forecast period?
  • What is the leading segment in the surgical robot market?
  • What are the key factors pushing the surgical robot market?
  • Who are the top players in the surgical robot market?

 

Top Leading Market Players Are:

  • Medtronic (Ireland)
  • Stryker Corporation (US)
  • Smith & Nephew (UK)
  • Zimmer Biomet (US)
  • Intuitive Surgical (US)

 

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Surgical robot market: Growth leading factors

The growing familiarity with degenerative diseases of bones and the ever-increasing number of knee and hip replacement surgeries because of growing cases of arthritis and osteoporosis are the prominent factors anticipated to fuel the market growth. Further, increasing regulatory compliance for the robots used in surgery is one of the notable factors helping the market growth. For instance, in 2019, Intuitive Surgical Inc’s Ion robotic surgical system obtained 510 K FDA clearance.

Additionally, the increasing assumption of accommodated surgeries like hysterectomies, the growing number of robotic systems for interventions that are surgical, and continuous financing and R&D activities in the context of automated mechanical systems by manufacturers are the critical factors reinforcing the growth of the market. Further, many industrial strategic initiatives by top international players are expected to hasten the market growth over the years. For instance, in 2019, Ethicon, the ancillary of Johnson & Johnson, obtained Auris Health which is a deviser of a robotic technology platform. This accession is concentrated on reinforcing the growth of Ethion’s digital surgery portfolio to counter lung cancer.

A noteworthy reduction in robot adoption has been observed during 2020 because of the covid-19 pandemic compared to 2019. It can be attributed to a decline in surgical procedures and scarcity of workforce in manufacturing facilities.

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Surgical robot market: Report Scope

Report Attribute

Details

Market Size 2020 Value

USD 2.37 billion

Market Outlook for 2028

USD 10.30 billion

Expected CAGR Growth

21.9% from 2021 – 2028

Base year

2020

Forecast period

2021 – 2028

Segments covered

By Product & Services, By Application, By End-Use, By Region

Key Companies

Medtronic (Ireland), Stryker Corporation (US), Smith & Nephew (UK), Zimmer Biomet (US), and Intuitive Surgical (US)

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization Options

Customized purchase options are available to meet your research needs.

 

Surgical robot market: Key segmentation

  • Insight by products and services, application, end-use, and region

 

By-products and services, the surgical systems hold the largest market share owing to surgeons not lonely recognizing the problem but also performing crucial surgical operations using magnification and visualization capabilities, thus encouraging the industry’s growth. By application, the gynecological surgery segment is considered the most significant revenue share in 2020 and is expected to register the highest CAGR in the forecast period. End-use Ambulatory surgery centers (ASCs) ruled the market in context to revenue. These self-supporting services do not require the patient to be admitted to the hospital. It permits cost savings for the third-party players, governments, and patients.

By region, North America dominated the global surgical robot market attributing to the entrenched healthcare infrastructure and growth in the acquisition of robotic surgical systems spread over various healthcare settings. The existence of international players, continuing advancements in robotics, and the need for minimally invasive surgeries to lessen the post-operative period are the crucial factors driving the regional market. The Asia Pacific region is assured of recording the highest CAGR because of growing demand in countries like China, Japan, and India. In China, the requirement for surgical robots is primarily amongst a niche group of wealthy Chinese patients who can grant the procedures that are expensive. But the emergence of domestic categories has brought down the prices and is anticipated to drive the deployment.

Browse the full “Surgical Robot Market Share, Size, Trends, Industry Analysis Report, By Application (General Surgery, Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, Others); By End-Use; By Regions; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/surgical-robot-market

Highlights of the report

  • The report offers an exhaustive analysis of market trends involving information on usage and consumption at the regional level
  • Reports on the market involve the growth rates of each region which involves their countries in the future
  • The report offers a full-scale analysis of leading competitors in the surgical robot market
  • The report involves particulars about the significant vendors in the surgical robot market
  • The report offers an entire overview of each company, including its revenue generation, profile, products manufactured, and costs of goods
  • The report offers data about market competitors across perspectives of market players that are leading

 

The market primarily depends on the products and services, application, end-use, and region

Surgical robot market: By products and services

  • Instruments & Accessories
  • Robotic Systems
  • Services

 

Surgical robot market: By application

  • General Surgery
  • Gynecological Surgery
  • Urological Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • Others

 

Surgical robot market:  By end-use

  • Hospitals
  • Ambulatory Surgery Centers (ASCs)

 

About Us:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.

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