Surgical Robotic Systems Market 2022 Industry Trends, Regional Developments and Competitive Landscape Analysis Report 2031

The global surgical robotic systems market was valued at $5,341.0 million in 2019, and is expected to reach $15,010.3 million by 2027 at a CAGR of 13.7% during the forecast period. In addition, from the past few years, surgical robots have undergone a paradigm shift due to technical developments in the fields of 3D imaging, high-definition microscopic cameras, data recorders, data processing devices, motion sensors, remote navigation systems, robotic-controlled catheters and other medical-use accessories. Hence, this is to develop new applications for existing platforms as well as create disruptive technologies, which will drive the market. Moreover, obstetrics and gynecology surgeries provide huge revenue for surgical robotic systems manufacturers as these surgeries are performed on a large scale.

Surgical robotic systems are a combination of equipment, accessories, software, and services that help to perform several minimally invasive surgeries including gynecological, cardiac, neurological, orthopedic, and others. Robotic systems allow surgeons to automate the surgical procedure, thereby improving efficacy and precision during the procedure, and minimizing post-surgical complications. In addition, they provide effective representations of body parts and increase dexterity, which aid surgeons to work on inaccessible body parts.

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Further, they reduce the risk of blood loss and infection; and offer shorter recovery time and lesser amount of scars in comparison to the traditional open surgery. A wide variety of robotic surgical accessories are needed for these surgeries that include scalpels, speculum, veress needle, trochar, catheters, colposcope, and others. Major drivers of this market are change in women lifestyle globally, high prevalence of gynecological conditions, growing demand for robotic, and minimally invasive surgical procedures.

The increasing need for automation in the healthcare sector and growing demand for minimally invasive surgeries are the major factors driving the surgical robotic systems and procedures market. In addition, a rise in incidences of colorectal cancer, neurological disorders, gynecological diseases among others, would boost the adoption of robotic surgical systems. Surgical robotic systems offer less post-surgical complications and reduce labor cost. Due to this, large-scale hospitals based in developed and developing economies are now favoring automate surgical/hospital services, which ultimately drives the market growth.

On the other hand, high cost associated with surgical robot’s procedures and accidental death/injuries due to broken instruments and system errors are projected to hinder the market growth. The global surgical robotic systems market is segmented into component, application and region. Based on component, the market is segmented into systems, accessories, and services. The surgical robotic systems market based on application is segmented into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

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? This report provides an extensive analysis of current and emerging market trends in the global surgical robotic systems market.? Geographically, the global surgical robotic systems market is analyzed based on various regions such as North America, Europe, Asia-Pacific and LAMEA.? This study evaluating the competitive landscape and value chain has been taken into account to in order to understand the competitive environment existing across geographies.? This report entails the detailed quantitative analysis of the current market and estimations from 2019 to 2027, which assists in identifying the prevailing market opportunities.? Exhaustive analysis of global surgical robotic systems and procedures market by type helps in understanding the types of surgeries along with the variants of surgical robotic systems that will gain prominence in the future.

KEY MARKET PLAYERS– Intuitive Surgical, Inc.– Stryker Corporation– Zimmer Biomet Holdings, Inc.– Titan medical Inc.– Transenterix, Inc.– Johnson & Johnson– Globus Medical, Inc.– Medtronic Plc.– Siemens Ag (Siemens Healthineers)– Smith & Nephew

KEY MARKET SEGMENTSBy Component– Systems– Accessories– Services

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By Application– Gynecology Surgery– Urology Surgery– Neurosurgery– Orthopedic Surgery– General Surgery– Other Surgery

By Region– North Americao U.S.o Canadao Mexico– Europeo Germanyo Franceo UKo Italyo Spaino Rest of Europe– Asia-Pacifico Japano Chinao Australiao Indiao South Koreao Taiwano Rest of Asia-Pacific– LAMEAo Brazilo Saudi Arabiao South Africao Rest of LAMEA

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