Surgical Robotics Market - High Cost of Surgical Robotic Systems & Procedures Restraining Growth

DUBLIN, Feb. 19, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/w9prt5/world_surgical) has announced the addition of the "World Surgical Robotics Market - Opportunities and Forecast, 2014 - 2020" report to their offering.

The world surgical robotic systems market was evaluated at $3.3 billion in 2014, and is estimated to garner $6.4 billion by 2020, registering a CAGR of 10.2% over the forecast period. The gynecology application segment accounted for 28% share of the surgical robotic systems market share in 2014, and is expected to maintain its dominance during the forecast period.

Increase in adoption of advanced robotic surgery over conventional open surgery, growing count of surgical procedures, and rising incidence rates of gynecological, neurological and urological disorders are the major factors boosting the market growth. However, high cost of surgical robotic systems and procedures is the major factor restraining the growth of the market. The surgical robotic procedures market is estimated to grow at a CAGR of 4.9%, thereby, fostering the growth of the surgical robotics market.

In the component segment, systems and accessories jointly accounted for three-fourths of the surgical robotic systems market in 2014, and is forecast to maintain this trend throughout the forecast period. This is mainly attributed to the rising adoption of surgical robotic systems across Tier-1 hospitals and recurrent sales of accessories for these systems. However, system-related services are projected to be the fastest growing segment, owing to growing need for technical systems support, software upgrades, and product parts replacements.

Key Findings:

• Surgical robotic systems market is projected to witness a two-fold increase in CAGR as compared to surgical robotic procedures market during the forecast period.
• Accessories segment is expected to maintain its foothold in the surgical robotic systems market throughout the analysis period.
• Orthopedic surgery is projected to be the fastest growing application segment in the surgical robotic systems market during the forecast period.
• In 2014, gynecology and urology surgery collectively accounted for about half of the surgical robotic systems market.
• Asia-Pacific is forecast to be one of the fastest growing markets, growing at a CAGR of 14.7% from 2015 to 2020.
• In 2015, North America and Europe collectively accounted for around four-fifths of the world surgical robotic systems market revenue.
• North America is anticipated to remain the highest revenue-generating region during the forecast period

Companies Mentioned:

• Blue Belt Technologies
• Hansen Medical
• Hansen Medical Inc.
• Intuitive Surgical
• KUKA AG
• MAKO Surgical Corp.
• Mazor Robotics
• Medtech S.A.
• Renishaw plc
• Stanmore Implants Worldwide Ltd
• THINK Surgical

Key Topics Covered:

CHAPTER 1 - Introduction

CHAPTER 2 - Executive Summary

CHAPTER 3 - Market Overview

CHAPTER 4 - Market by Component

CHAPTER 5 - Market by Surgery Type

CHAPTER 6 - Market by Geography

CHAPTER 7 - Company Profiles

For more information visit http://www.researchandmarkets.com/research/w9prt5/world_surgical

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SOURCE Research and Markets

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