NEW YORK, March 10, 2016 /PRNewswire/ -- Surgical robotic systems are a combination of equipment, accessories, software, and services that help to perform several minimally invasive surgeries including gynecological, cardiac, neurological, orthopedic, and others. Robotic systems allow surgeons to automate the surgical procedure, thereby improving efficacy and precision during the procedure, and minimizing post-surgical complications. In addition, they provide effective representations of body parts and increase dexterity, which aid surgeons to work on inaccessible body parts. Further, they reduce the risk of blood loss and infection; and offer shorter recovery time and less amount of scars in comparison to the traditional open surgery.
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 increasing need for automation in the healthcare sector and growing demand for minimally invasive surgeries are the major factors driving the surgical robotic systems and procedures market. In addition, a rise in incidences of colorectal cancer, neurological disorders, gynaecological diseases among others, would boost the adoption of robotic surgical systems. Surgical robotic systems offer less post-surgical complications and reduce labor cost. Due to this, large-scale hospitals based in developed and developing economies are now favoring automate surgical/hospital services, which ultimately drives the market growth. On the other hand, high cost associated with surgical robots procedures and accidental death/injuries due to broken instruments and system errors are likely to hinder the market growth. According to a study conducted at the University of Illinois, around 144 deaths and more than 1,000 injuries have been linked to robotic surgery in the United States, in the past decade.
The report segments the market across two distinct categories i.e. surgical robotic systems and procedures. The surgical robotic systems market is segmented on the basis of system components, surgical application, and geography. Based on system components, the market is segmented into systems, accessories, and system related services. Among them, accessories held a dominant share in 2014, owing to the frequent re-purchase of surgical accessories. According to surgical application, the market is further segmented into gynecology surgery, urology surgery, orthopedic surgery, neurology surgery, general surgery, and other surgeries. The surgical robotic procedures market is further segmented across similar types of surgeries. The geographical breakdown and detailed analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Intuitive Surgical Inc., is the pioneer of the robotic surgery and currently holds a dominant share in the world surgical robotic systems market. In 1999, Intuitive Surgical launched its first surgical robotic system named Da Vinci Surgical System. Other companies including Think Surgical, Inc., Blue Belt Technologies (acquired by Stryker), Mako Surgical Inc., (acquired by Smith and Nephew) and Renishaw plc., manufactures and supplies surgical robots for orthopedic surgery and neurosurgery. Comprehensive competitive analysis and profiles of major market players such as Intuitive Surgical Inc., Blue Belt Technologies Ltd., Think Surgical Inc., Hansen Medical, Inc., MAKO Surgical Corp., Renishaw plc., Stanmore Implants Worldwide, Ltd., Mazor Robotics Ltd., among others are profiled in the report.
KEY BENEFITS FOR STAKEHOLDERS:
This report provides an extensive analysis of the current and emerging market trends and dynamics in the world surgical robotic systems and procedures market.
Geographically, the world surgical robotic systems and procedures market is analyzed based on various regions such as North America, Europe, Asia-Pacific and LAMEA.
This study evaluating competitive landscape and value chain has been taken into account to help in understanding the competitive environment across the geographies.
This report entails the detailed quantitative analysis of the current market and estimations from 2015 to 2020, which assists in identifying the prevailing market opportunities.
Exhaustive analysis of the world surgical robotic systems and procedures market by type helps in understanding the types of surgeries along with the variants of surgical robotic systems that will gain prominence in the future.
SURGICAL ROBOTICS MARKET KEY SEGMENTS:
By Surgery Type
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