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The 21st century since its beginning has seen major technological advancements and uplifts along with Artificial Intelligence massively developing and being made to comprehensively aid in many humanistic-centered tasks across various fields. One such field is the medical field, where AI has been on the rise in the form of Surgical Robots. This market that started somewhere around the 1980’s is expected to grow from USD 6.7 billion in 2020 to USD 11.8 billion by 2025, at a CAGR of 12.1% during the forecast period. With the use of these robots, the surgeries are done with precision, miniaturization, smaller incisions; decreased blood loss, less pain and quicker healing time.
The growth of surgical robots market is attributed towards the growth of some relevant factors such as technological advancements, advantages of robotic-assisted surgery, increasing adoption of surgical robots by hospitals & ambulatory surgery centers & increased funding for medical robot research.
Predominantly, the challenges that exist in the use of these robots for surgery are clearly evident in the form of relatively higher costs per surgery, additional and long training periods, lack of haptics, instrumentation limitations, unidentifiable-injuries, biased advertisements, issues with multi-quadrant surgeries as the current ones only can assist in single quadrant applications.
These barriers look to dominate the restriction on their regular and increasing usage but cannot overshadow the advantages that they have to offer. With robots allowing the surgeons to better perform delicate and complex procedures which give them a high-definition, magnified, 3-D view of the surgical site and also lessen their fatigue, this industry, from the first robot Arthropod which assisted in surgery in the mid 80’s to the widely used da Vinci Surgical System, AESOP and The Zeus Surgical System, has come a long way.
Major advances aided by surgical robots in the past few decades have been remote surgery, minimally invasive surgery, unmanned surgery and a handful more.
Though criticized for its expense, hospitals and surgeons believe that investment in them in the long run is going to be worthy with the challenges set to be resolved with the upcoming efficient and cost-effective technologies and advancements. Though human surgeons still have a role to play everywhere, these machines are specifically designed to reach areas the average surgeon can’t access without making large incisions or leaving prevalent scars.
SURGICAL ROBOTS MARKET SEGMENTATION:
Based on Product & Service, the market has been segmented as follows:
Based on Application, the market has been segmented as follows:
Based on End User, the market has been segmented as follows:
Based on Region, the market has been segmented as follows:
The Asia-Pacific region is expected to witness a monumental growth in the coming years owing to the rapidly increasing patient pool and also growing amounts of investments by the medical players in the region.
North America which accounted for the largest share of the global market in 2019, is set to continue its upward trend significantly as large percentage of the North American market is attributed to the availability of funding for R&D in surgical robots and the increasing adoption of surgical robots for pediatric surgeries in Canada and general surgery procedures in the US.
However, the market in all regions is set to witness massive growth as a result of the Covid-19 situation all across the globe, with medical companies and governments looking to put funds for the treatment of citizens and advancement of medical technologies and equipments.
FEW KEY PLAYERS IN SURGICAL ROBOTS MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global surgical robots market by the following segments:
- Product & Service
- End User
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Surgical Robots Industry Report
The report offers a comprehensive insight on the Surgical Robots Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.