Surgical Robot Market Is Anticipated To Reach $20.8 Billion By 2024: Grand View Research, Inc.
The
global surgical robot market is expected to reach USD 20.8
billion by 2024, according to a new study by Grand View Research, Inc. The
prevalence of chronic disorders, such as chronic heart diseases and various
types of cancer, is on a rise. These diseases frequently require surgery as a
line of treatment. With the advent of surgical robot, these surgeries have
become easier and less traumatic, thereby propelling the demand over the
forecast period.
The
surgical robotic system causes less postoperative complications and reduces the
length of hospital stay for a patient. This further helps to save treatment
cost as well as labor cost. Owing to these benefits, these devices are now
favored by hospitals in developing as well as developed regions.
The
introduction of evolved systems is expected to boost the market growth over the
forecast period. The development of computer software coupled with such robotic
systems result in higher precision and better viewing of the incision site.
This is expected to propel the demand over the forecast period.
The
rising popularity of minimally invasive procedures due to their
patient-friendly nature is the vital driver for this industry. Surgical robot
help in performing complicated procedures through navigation and magnification
options.
North
America surgical robot market share, by product, 2014 – 2024
Browse full
research report on Surgical Robot Market: http://www.grandviewresearch.com/industry-analysis/surgical-robot-market
Further
key findings from the report suggest:
- Robot systems held a lucrative share of around
42.0% in the product segment. Robot systems were followed by accessories
and are also anticipated to witness a substantial growth owing to their
frequent repurchase.
- On the other hand, services are anticipated to
grow at a lucrative rate of around 20.0% over the forecast period.
Periodic maintenance of the existing robotic systems is mandatory; hence,
this segment is anticipated to witness a substantial growth.
- The da Vinci Surgical System by Intuitive
Surgical, Inc. dominated this industry in 2015. This system is the first
U.S.FDA approved system; hence, retains the first mover advantage.
- ROSA surgical system by Medtech is anticipated
to witness a lucrative growth over the forecast period. These systems are
intended for the brain and spinal cord surgeries. Recent approval for ROSA
systems as well as expansion in European and North American Region by
Medtech is anticipated to support the growth of this system.
- Gynecology held significant share of around
30.0% in application segment followed by general surgery segment which is
anticipated to witness remunerative share over the forecast period. Rising
prevalence of colorectal cancer further contributed towards the growth of
this segment.
- North America is the dominating market with
lucrative shares of around 60.0% in 2015. However, Asia Pacific is
projected to witness sturdy growth over the forecast period with the
fastest growth rate. Healthcare advancements as well economic developments
with the aid of government is anticipated to support the growth.
- The key players operating in this industry
include Intuitive Surgical, Inc., Accuray, MAKO /Stryker, Medtech
Surgical, Hansen Medical, TransEntrix, Titan Medical, Inc., and Renishaw
Plc.
- New product launches and collaborative
developments are key strategic initiatives undertaken by market players to
sustain the competition
- For instance, in July 2015, Accuray and
Raysearch Laboratories AB formed a strategic collaboration. Accuray will
co-market and offer Raycare Oncology Information System (OIS) in
designated major radiation markets
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reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global surgical robot market on the
basis of type, products, and region:
Global
Surgical Robots Market By Product, 2014 - 2024 (USD Million)
- Robot System
- Instrument
& Accessories
- Services
Global
Surgical Robots Market By Brand, 2014 - 2024 (USD Million)
- da Vinci
Surgical System
- CyberKnife
- ROSA
- MAKO
- Renaissance
- Other
Global
Surgical Robots Market By Application, 2014 - 2024 (USD Million)
- General
Surgery
- Urology
- Orthopedic
- Neurosurgery
- Cardiovascular
- Gynecology
- Radiology
- Transplant
- Gastrointestinal
- Others
Surgical
Robots Market By Region, 2014 - 2024 (USD Million)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
- Saudi
Arabia
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Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-surgical-robot-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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