Global Surgical Robotics Market: Focus on Product Type, Brand-Value Matrix, Regulatory Framework, Awaited Technological Advancements, Patent Analysis, Insights on Emerging Platforms in Pipeline, and 43 Countries' Data - Analysis and Forecast, 2019-2029
NEW YORK, Oct. 7, 2019 /PRNewswire/ --
Global Surgical Robotics Market to Reach $15.43 Billion by 2029
Key Questions Answered in this Report:
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• How has the market evolved from the past five years, and what are the awaited technological advancements in the field of surgical robotics?
• 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 2018?
• What are the influencing factors that may affect the market share of the key players?
• How is the expected to industry evolve during the forecast period 2019 - 2029?
• 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 are expected to be their contributions in 2029?
• 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 units sold, by country, in 2018?
Overview on the Global Surgical Robotics Market
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.
The market for surgical robotics generated $4.71 billion in 2018, in terms of value and is estimated to reach $15.43 billion by 2029.
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.
Expert Quote
"The market has been witnessing a tremendous shift into a different business/acquistion model of operating lease polices. It offers attractive procurement options to hospitals and specialty clinics to reduce their upfront capital cost. The adoption of leasing strategies would help the surgical robotics manufacturers to maintain their revenue generation capabilities and gross margins, and market penetration. This strategic move will help the companies to penetrate into the local markets with a prime focus on tier-2 hospitals and private clinics. In addition, this will also help the companies to increase their installed base and revenue generation capabilities."
Scope of the Surgical Robotics Market
The report constitutes of an in-depth study of the global surgical robotics market, including a thorough analysis of the products and services across different regions.The study represents a detailed analysis of the market trends and the market size for the time period 2017-2029, wherein 2018 is the base year and the years from 2019 to 2029 constitute of the forecast period.
The report covers all the prevalent trends which are expected to play a major role in the growth of the market over the forecast period.It also highlights various drivers, restraints, trends, and opportunities which are expected to influence the market's growth during the forecast period.
The scope of this report is focused on the global surgical robotics market, products, their market dynamics, growth prospect mapping, SWOT analysis, Porter's Five Forces, and country-wise analysis.
The study provides a holistic perspective on the market growth in terms of revenue estimates across different regions which include North America, Europe, Asia-Pacific (APAC), Latin America, and Rest-of-the-World (RoW).The report provides cross-sectional analysis of the global surgical robotics market in terms of market estimates and projections for different product types across different countries.
The regions have been further segmented to cover the in-depth country level analysis. The North American region has been segmented into the U.S. and Canada. Similarly, Europe has been further segmented into the Germany, France, U.K., Italy, Belgium, Netherlands, Switzerland, Sweden, Denmark, Norway, Czech Republic, Finland, Austria, Ireland, Spain, Turkey, Russia, and Rest-of-Europe; Asia-Pacific has been segmented into Australia & New Zealand, Japan, China, India, South Korea, Taiwan, Thailand, Singapore, Malaysia, Indonesia, and Philippines; Latin America has been segmented into Brazil, Argentina, Chile, Venezuela, Mexico, Colombia, Puerto Rico, Panama, and Uruguay; and Rest-of-the-World has been segmented into KSA, Israel, Qatar, Pakistan, Egypt, Kuwait, and Lebanon.
Market Segmentation
By Product
• Surgical Systems
• Instruments & Accessories
• Services
By Application
• Urology Surgery
• Gynaecology Surgery
• General Surgery
• Cardiology Surgery
• Orthopaedic Surgery
• Head and Neck Surgery
• Others
By End User
• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Specialty Clinics
By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World (RoW)
Key Companies in the Surgical Robotics Market
The companies contributing significantly to the global surgical robotics market are Auris Health, Inc. (Johnson & Johnson), CMR Surgical Limited, Corindus Vascular Robotics, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Mazor Robotics Ltd. (Medtronic plc), Medrobotics Corporation, Medtech SA (Zimmer Biomet Holdings, Inc.), meerecompany Inc., Memic Medical Ltd., Neocis, Inc., OMNI Orthopaedics Inc. (Corin Group), Renishaw plc, Restoration Robotics, Inc., Riverfield Co., Ltd., Smith & Nephew plc, Mako Surgical Corp. (Stryker Corporation), THINK Surgical, Inc., Titan Medical Inc., and TransEnterix, Inc., among others.
Countries Covered
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• Italy
• U.K.
• Spain
• Turkey
• Belgium
• Switzerland
• Russia
• Sweden
• Netherlands
• Denmark
• Norway
• Czech Republic
• Finland
• Austria
• Ireland
• Rest-of-Europe
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia and New Zealand
• Taiwan
• Thailand
• Malaysia
• Singapore
• Indonesia
• Philippines
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Venezuela
• Colombia
• Panama
• Uruguay
• Puerto Rico
• Rest-of-the-World
• Kingdom of Saudi Arabia (KSA)
• Israel
• Qatar
• Pakistan
• Egypt
• Kuwait
• Lebanon
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