The key players in the global surgical robotics market are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics, MedRobotics, TransEnterix and Hansen Medical, among others.
The global surgical robotics market is expected to reach $12.60 billion by 2025. The market consists of various product segments such as surgical systems, instruments and accessories and maintenance services. The instruments and accessories segment had the highest market value in 2016, growing at the CAGR of 11.4% during the forecast period 2017-2025. However, services (maintenance and up-gradation) are expected to grow at the highest CAGR of 12.9% during the forecast period 2017-2025.
All the major surgical robotics systems have been covered into the global surgical robotics market volume data. The market for surgical systems by value is expected to grow at the CAGR of 12.3% during the forecast period, 2017-2025. Among all surgical systems, the da Vinci surgical system accounted for the highest installation volume in 2016 and is anticipated to reach 1,123 installation units in 2025, growing at the CAGR of 8%. This can be attributed to the increasing adoption rate of da Vinci surgical robotics system for increasing rate of general surgeries, gynecology, urology, cardiothoracic and head and neck medical complications. However, the Sensei Robotic System manufactured by Hansen Medical (Auris Surgical Robots) is anticipated to grow at the highest CAGR of 22%.
The application segment of the market consists of general surgery, gynecology, urology, orthopedics, interventional cardiology, and neurology, among others. The gynecology segment acquired the highest market value in 2016, and is expected to grow at the CAGR of 8.8% during the forecast period 2017-2025. This can be attributed to the increasing incidence rate of gynecological complications among women globally and continuous technological advancement in robotic systems. However, General Surgery is expected to be dominant with revenue generation of $4.22 billion by 2025. Further, the orthopedics segment is expected to witness the highest growth rate of 15.5% during the forecast period 2017-2025.
Furthermore, based on the application, gynecology accounted for the largest market share by robotic surgical procedural volume in 2016. However, General Surgical procedures is expected to be dominant with robotic surgical procedural volume of 717,550 by 2025.
The end-user segment comprises hospitals and ambulatory surgical centers and others. The hospitals accounted for the highest market value in 2016, growing at CAGR of 11.1% during the forecast period 2017-2025. However, the revenue generated by the ambulatory surgical center is anticipated to grow at the highest CAGR of 18.9% during the forecast period 2017-2025.
Furthermore, based on the end-user, hospitals accounted for the largest market share by robotic surgical system installation volume in 2016 and it anticipated to reach 1,816 units by 2025. However, robotic surgical system installation volume at ambulatory surgical centers are estimated to grow at the highest CAGR of 15.6%.
The market has a plethora of opportunities to grow as the demand for minimally invasive cancer procedures is booming. Also, hospitals and clinics are extensively purchasing surgical robots to train their surgical teams. There is a huge addressable market that is still under-penetrated. In the U.S. alone there are more than 3,000 hospitals and 5,000 clinics without any robotic surgery programs.
Key Topics Covered:
1 Report Scope and Methodology 1.1. Scope of the Report 1.2. Global Surgical Robotics Market Segmentation 1.3 Key Learnings 1.4 Research Methodology
2 Market Overview 2.1 Market Trend 2.2 History and Future of Robotic Surgery 2.3 Recent Market Developments
4 Competitive Landscape 4.1. Key Development and Strategies 4.1.1 New Product Launches and Developments 4.1.2 Approvals and Certifications 4.1.3 Business Expansions/Contracts 4.1.4 Collaborations, Joint Ventures and Partnerships 4.1.5 Mergers & Acquisitions 4.1.6 Others 4.2. Legal Requirements and Regulations 4.3 Industry Attractiveness 4.4 Market Share Analysis 4.5 Value Chain Analysis
5 Industry Analysis 5.1 Patent Landscape 5.2. Consortiums, Associations, and Regulatory Bodies
6 Global Surgical Robotics Market, by Product 6.1 Overview 6.2 Surgical System 6.3 Instruments & Accessories 6.4 Services & Maintenance
7 Global Surgical Robotics Market, by Application 7.1 Overview 7.2 General Surgery 7.3 Interventional Cardiology 7.4 Gynecology Surgery 7.5 Orthopedics Surgery 7.6 Urological Surgery 7.7 Neurological Surgery 7.8 Others
8 Global Surgical Robotics Market, by End User 8.1 Overview 8.2 Hospitals 8.3 Ambulatory Surgical Centers 8.4 Others