The global surgical robots market is projected to reach 11.8 billion by 2025 from USD 6.7 billion in 2020 at a CAGR of 12.1%
NEW YORK, March 13, 2020 /PRNewswire/ --
The surgical robots market is projected to grow at a CAGR of 12.1% during the forecast period.
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The global surgical robots market is projected to reach 11.8 billion by 2025 from USD 6.7 billion in 2020 at a CAGR of 12.1%. Growth in the surgical robots market can be attributed to factors such as technological advancements, advantages of robotic-assisted surgery, increasing adoption of surgical robots & increased funding for medical robot research. However, the high cost of robotic instruments and shortage of trained professionals may prove to be restraints for the market.
The instruments & accessories segment is expected to hold the largest market share during the forecast period.
Based on components, the surgical robots market has been segmented into systems, instruments & accessories and services.The instruments & accessories segment is expected to hold the largest market share during the forecast period.
The recurring demand for instruments & accessories owing to their disposable nature is driving growth in this market segment.
The general surgery segment is expected to grow at the highest rate during the forecast period.
Based on applications, the surgical robots market is segmented into gynecological surgery, urological surgery, neurosurgery, orthopedic surgery, general surgery, and other applications.The general surgery segment is expected to grow at the highest rate during the forecast period.
The large share and high growth of this segment can be attributed to factors such as high growth and increased use of surgical robots in general procedures.
The hospitals segment is expected to hold the largest share during the forecast period.
Based on end-user, the surgical robots market is segmented into hospitals and ambulatory surgical centers.The hospitals segment is expected to grow at the highest rate during the forecast period.
The large share and high growth of this segment can be attributed to factors such as increased adoption of surgical robots by the hospitals.
The Asia Pacific surgical robots market is expected to grow at the highest rate during the forecast period.
Geographically, the surgical robots market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.The Asia Pacific market is expected to grow at the highest rate during the forecast period.
The high growth in this region can be attributed to increasing demand from key markets such as Japan and China and the large patient population in India, collaborations of the government with regional universities for extensive R&D, and government efforts towards catering advanced healthcare services.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 35%, Director-level – 25%, and Others – 40%
• By Region: North America - 20%, Europe – 25%, APAC – 40%, and RoW – 15%
The major players in the market include Intuitive Surgical (US), Stryker (US), Mazor Robotics (US), Smith & Nephew (UK), Hansen Medical (US), Medrobotics (US), TransEnterix (US), Medtech (France), Renishaw (UK), and THINK Surgical (US).
Research Coverage
This report studies the surgical robots market based on product & service, application, end-user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four central regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the surgical robots market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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