The Global Robotic Surgery Market reached USD 4,061.9 million in 2017, and is expected to touch USD 8,987.4 million by 2025, growing at a CAGR of 10.5% during 2018–2025. The key factors boosting growth of the market are the increasing number of patients suffering from chronic diseases, increasing need for quality patient care, efficiency in solutions.
Furthermore, advancements in Robotic and advanced surgical procedures with the use of Surgical Robots across the globe have led to burgeoning market growth of Robotic Surgery Market.
General Surgery segment is expected to dominate the Robotic Surgery Market during the forecast period in terms of revenues. However, the highest growth rate is expected to be witnessed by the Others segment during the forecast period owing to increasing demand for robotic applications in various types of surgeries.
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Technological advancement in Surgical industry and increasing awareness about the robotic surgeries are likely to drive the growth of Robotic Surgery Market in the near future. Accessories and instruments to dominate the market in terms of revenue share in the application segment in 2017.
“The companies are focussing on mergers, new product launches and implementation of healthcare services and investing in research and development to maintain their leadership in the competitive Robotic Surgery Market.” -GMI Research
Based on geography, North America held the largest revenue share in 2017 because of high technological advancement in the hospitals, awareness among the public regarding the robotic surgical procedures and the advantages of this surgery over the traditional ones. ROW is the fastest growing region and the market is expected to grow at a CAGR of 12.1% during the forecast period.
Key takeaways/key essentials:
- Mazor Robotics, TransEnterix, Accuray together holds more than half of the market share in 2017.
- The General Surgery Segment is anticipated to grow at the highest rate during the forecast period from 2018 to 2025.
- The services segment is the emerging segment in the Surgical field due to requirements to get the devices serviced more frequently to improve the quality surgery.
- In 2017, North America region captured maximum revenue share in Global Robotic Surgery Market.
Some of the key players operating in Global Robotic Surgery Market include Mazor Robotics, TransEnterix, Accuray, Medtech SAS, Smith & Nephew, Renishaw, Corindus Vascular Robotics, among others.
The Global Robotic Surgery Market has been segmented on the basis of application type, the market comprises of Gynaecology, General Surgery, Urology and Others. The component type includes Accessories and instruments, Services.
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The research report “Global Robotic Surgery Market” provides an in-depth analysis of the Robotic Surgery Market, globally, based on Components, Applications and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for Robotic Surgery Market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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