The global surgical robotics market is anticipated to witness tremendous growth over the forecast period primarily due to the increasing prevalence rate of chronic disorders, elevating global population coupled with the geriatric population, improving reimbursement policies, and public initiatives and funding to develop technologically advanced products. The market for surgical robotics (product type) is divided into three segments, namely, surgical systems, instruments & accessories, and services.
Surgical robotic systems primarily include surgical systems (capital equipment), instruments & accessories, and services (maintenance and up-gradation). In the past decade, the definition of these advanced technologies has expanded, involving the use of these systems for multiple surgical procedures ranging from general surgeries to orthopedic surgeries. The ongoing trend of rising demand for surgical robotic systems is anticipated to continue in the future with the implementation of technological innovations and advancements in minimally invasive surgical procedures.
As depicted in the preceding figure, the global surgical robotics market is anticipated to grow with a robust CAGR of 10.2% during the forecast period, 2021-2031. The market for surgical robotics generated $5.46 billion in 2020, in terms of value and is estimated to reach $16.77 billion by 2031.
Competitive Landscape
The total market was valued at $5,460.5 million in 2020 with Intuitive Surgical, Inc. dominating the global surgical robotics market by holding 79.82% of the market share in 2020. This market dominance was attributed to the company’s presence within the market and huge market penetration in different regions. Currently, the company offers its fourth generational surgical robotic platforms, first commercialized in 2014 (da Vinci Xi Surgical System). Stryker Corporation was responsible for 9.09% of the global market share in 20202, second only to Intuitive Surgical, Inc. BIS Research anticipates that Intuitive Surgical will hold nearly 52.06% of the total market by the end of 2031.
In the past four years, i.e., (January 2017 to March 2021), the market has witnessed approximately 85 regulatory and legal developments, 56 funding activities, 51 partnerships, alliances, and business expansions, 15 mergers and acquisitions, and nine product offerings and upgradations. Currently, most market players are involved in conducting regulatory and legal activities in the market, as is evident from the shares of funding activities and new offerings. There is a potential for mergers and acquisitions activities in the future as more and more start-ups enter the market targeting specific surgical applications and key players of the conventional surgical robotics market look to consolidate.
Surgical robotics market has a promising outlook, and successful start-ups may enter into merger agreements with the well-established players in the market. Strategic agreements such as partnerships, alliances, and business expansion hold the largest share, followed by mergers acquisitions, and product launches activities.
The key players contributing to the global surgical market are Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.
Key Questions Answered in this Report:
• What are the major market drivers, challenges, and opportunities in the global surgical robotics market?
• What are the underlying structures resulting in the emerging trends within the surgical robotics industry?
• What was the market value of the leading segments of the global surgical robotics market in 2020?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global surgical robotics market and what will be their contributions in 2030?
• What is the growth potential of surgical robotics in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• What was the total installed base and unit sold by country in 2020?
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Within the research report, the market has been segmented on the basis of procedure type, product type, application type, technology, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
BIS Related Studies
Global Minimally Invasive Gastrointestinal Surgical Systems Market
The Global Surgical Robotics Market size was valued at USD 66.02 billion in 2019 and is predicted to reach USD 158.70 billion by 2030 with a CAGR of 8.3% from 2020-2030.Surgical Robotics lead to minimally invasive procedures with high precision, minimal incision, reduced blood loss, lesser pain, and quicker healing time, as compared to traditional surgical procedures.
In robotically assisted surgeries, the surgeon controls overall surgical procedure by manipulating the self-powered, computer aided robot, that comprises of miniature surgical instruments mounted on its robotic arms.
Surgical robots are commonly used in minimally invasive surgery, remote surgery, and unmanned surgery.
The increasing commercialization of surgical robots consequently propagates the growth of global surgical robotics market.Access Full Description of this report at:-https://www.nextmsc.com/report/surgical-robotics-market Top Companies: Medtronic plc, Smith & Nephew Plc.
Based on surgery type, the market is divided into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries.
Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising Europe, North America, Asia-Pacific, and RoW.Request sample copy of this report at:-https://www.nextmsc.com/Surgical-Robotics-Market/request-sample North America region dominated the global surgical robotics market in the past, and is expected to maintain this trend throughout the forecast period, accounting for the major market share.
The latest trending report Global Surgical Robotics Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Surgical Robotics market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Surgical Robotics industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Surgical Robotics and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/26018-surgical-robotics-market-analysis-reportThe major players covered in Surgical Robotics are:Intuitive SurgicalTransEnterixMedtech S.AStrykerMedroboticsMazor RoboticsRestoration RoboticsTHINK SurgicalBy Type, Surgical Robotics market has been segmented intoLaparoscopyOrthopedicsOthersBy Application, Surgical Robotics has been segmented into: Open SurgeryMinimal InvasiveThe report offers in-depth assessment of the growth and other aspects of the Surgical Robotics market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Surgical Robotics Market @ https://www.decisiondatabases.com/contact/download-sample-26018The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Surgical Robotics product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Surgical Robotics, with price, sales, revenue and global market share of Surgical Robotics in 2018 and 2019.Chapter 3, the Surgical Robotics competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Surgical Robotics breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Surgical Robotics market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Surgical Robotics sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Surgical Robotics Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-26018All Robotics Related Reports by DecisionDatabases.com @ https://goo.gl/d7T49mAll Surgical Related Reports by DecisionDatabases.com @ https://goo.gl/fmTFSwAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
The global Surgical Robotics System market was valued at million US$ in 2018 and will reach million US$ by the end of 2025, growing at a CAGR of during 2019–2025.This report focuses on Surgical Robotics System volume and value at global level, regional level and company level.
From a global perspective, this report represents overall Surgical Robotics System market size by analyzing historical data and future prospect.Regionally, this report categorizes the production, apparent consumption, export and import of Surgical Robotics System in North America, Europe, China, Japan, Southeast Asia and India.Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-surgical-robotics-system-2019-117For each manufacturer covered, this report analyzes their Surgical Robotics System manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.The following manufacturers are covered:Mazor RoboticsIntuitive SurgicalMedtech SAVerb SurgicalAuris Surgical RoboticsMedroboticsRestoration RoboticsVirtual IncisionTHINK SurgicalMedtech S.ATransEnterixTitan MedicalAVRA Medical RoboticsSegment by RegionsNorth AmericaEuropeChinaJapanSoutheast AsiaIndiaSegment by TypeOpen SurgeryMinimal InvasiveSegment by ApplicationHospitalsAmbulatory Surgical CentersGet the Complete Report & TOC at https://www.24marketreports.com/life-sciences/global-surgical-robotics-system-2019-117CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/24-market-reports
