FREMONT, California, Oct. 7, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global Surgical Robotics Market - Analysis and Forecast, 2019-2029", the global surgical robotics market is estimated at $4.71 billion in 2018 and is projected to grow over $15.43 billion by 2029. The market is expected to grow at a CAGR of 10.70% during the forecast period from 2019 to 2029. The growth is aided by the remarkable adoption of surgical robotic systems among its end-use segments.
Browse 151 Market Data Tables and 222 Figures spread through 396 Pages and in-depth TOC on "Global Surgical Robotics Market"
The healthcare landscape is undergoing immense transformations to keep up or to improve high-quality care by bringing down the cost. However, variables, such as rising geriatric population on a global level as well as different care standards between developed and developing economies, are posing as a challenge in the introduction of high quality care.
In addition, minimally invasive surgery within the healthcare sector holds huge potential as it is considered the best treatment alternative for open surgery. The machines used for these surgeries are extraordinarily structured to reach areas, which are beyond access, by normal specialists until large incisions are made. With increasing advancement in innovation, prompting exponential development in robotic-assisted surgical procedures, medical centers are expected to deliver high-quality care options by offering efficient and precise surgical procedures, with less patient discomfort. From the patient perspective, lesser recuperation time, reduced risk of infection, shorter length of stay at hospital, and smaller incisions or scars as opposed to conventional surgery are the significant advancements in surgical robotics.
BIS Research Report: https://bisresearch.com/industry-report/global-surgical-robotics-market.html
The global surgical robotics market is expected to witness a rapid development from 2019 to 2029. The growth is expected to be mainly attributed to primary drivers in this market, comprising elevating geriatric population, rising healthcare spending, increasing cases of chronic disorders, and expanding support from governments, among others. The market is expected to grow at a significant growth rate due to the opportunities, such as a massive scope for phenomenal profits through venturous investments, integrative industry-academia collaboration, and novel surgical applications, which lie within its domain. However, there also exist numerous restraints, including a shortage of skilled professionals, and the high cost of surgical robotic systems and the associated surgical procedures.
According to Chanda ManuKoushik, Lead Analyst at BIS Research, "North America region is the leading contributor in the global surgical robotics market. The contribution of North America in the global surgical robotics market was valued to be 64.5% in 2018. Latin America and Asia-Pacific regions have been the fastest-growing regions in terms of market penetration, owing to factors such as the improving healthcare infrastructure and rising per capita income. In addition to that, factors such as large population base coupled with the increasing geriatric population, and several public initiatives are also driving the market growth in both Asia-Pacific and Latin America region."
- The global surgical robotics market comprises significant contributions from several conglomerate and small-medium enterprises, with more than 50 companies in the market.
- Ambulatory surgical centers (ASCs) end-use segment is anticipated to witness a robust CAGR during the forecast period 2019-2029. Further, the hospital end-use segment held the share of nearly 85.2% of the total market in 2018.
- The global surgical robotics market witnessed an installed base of nearly 7,141 units in 2018 and approximately 1,510 were sold in 2018.
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This market intelligence report provides a multidimensional view of the global surgical robotics market in terms of market size and growth potential. This research report aims at answering various aspects of the global surgical robotics market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, partnerships, collaborations, and business expansions as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, manufacturers and trend analysis on the basis of segment and demand analysis on the basis of region.
This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 10 leading companies, market participants, and vendors. The report also profiles 23 companies including several key players, such as 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, Stereotaxis, Inc., Mako Surgical Corp. (Stryker Corporation), Synaptive Medical, Inc., THINK Surgical, Inc., Titan Medical Inc., and TransEnterix, Inc.
Key Questions Answered in the Report:
- How much revenue was generated by the global surgical robotics market in 2018 and where is it expected to reach by 2029?
- How has the market evolved during 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?
- How much revenue is expected to be generated by different segments of the surgical robotics market during the forecast period from 2019 to 2029:
- General surgical procedure, gynecology surgical procedure, urology surgical procedure, orthopedic surgical procedure, cardiology surgical procedure, head and neck surgical procedure (including neurology), and other surgical procedures, on the basis of application.
- Hospitals, ambulatory surgical and others (research institutions and specialty clinics), on the basis of end user.
- North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (ROW), on the basis of region.
- What are the factors that are expected to affect the market share of the key players?
- What are the key developmental strategies 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 are the key regulatory implications in the developed and developing regions for surgical robotics?
About BIS Research:
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With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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