Global Surgical Robots Market Forecast to 2023 - Intuitive Surgical and Stryker Corporation Lead the Market
DUBLIN, Dec. 11, 2018 /PRNewswire/ --
The "Surgical Robots Market by Component (Surgical Robotic Systems, Accessories), Application (Gynecological Surgery, Orthopedic Surgery, Neurosurgery, General Surgery), End User (Hospitals, Ambulatory Surgical Centers) - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The global surgical robots market is projected to reach 6.5 billion by 2023 from USD 3.9 billion in 2018 at a CAGR of 10.4%.
Growth in the surgical robots market can be attributed to factors such as technological advancements, increased funding from the government for surgical robots' research and development, growing application areas to varied surgical specialties, and rise in the adoption of surgical robots by hospitals and ambulatory surgical centers. However, the high cost of 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.
On the basis of the component, 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. Moreover, the increasing adoption of surgical robots on account of the various advantages that these systems offer is further fueling market growth.
The general surgery segment is expected to grow at the highest rate during the forecast period.
On the basis of 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.
Adoption of surgical robots in the Asia Pacific region is expected to offer growth opportunities in the region.
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 installed base of surgical robots and collaborations of the government with regional universities for extensive R&D and government efforts towards catering advanced healthcare services.
The prominent players in this market include Intuitive Surgical and Stryker Corporation. These players adopt strategies such as product launches & approvals, acquisitions, expansions, and partnerships & agreements to gain a competitive edge market. These strategies also enable market players to strengthen their product portfolios and geographical presence.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Methodology Steps
2.2 Secondary and Primary Research Methodology
2.2.1 Secondary Research
2.2.1.1 Secondary Sources
2.2.2 Primary Research
2.2.2.1 Primary Sources
2.2.2.2 Key Insights From Primary Sources
2.3 Market Size Estimation Methodology
2.4 Research Design
2.5 Market Data Estimation and Triangulation
2.6 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Market Overview
4.2 Geographic Analysis: North American Surgical Robots Market, By Component
4.3 Market, By Component, 2018 vs 2023
4.4 Market, By Application, 2018 vs 2023
4.5 Market, By End User, 2018 vs 2023
4.6 Geographic Snapshot of the Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Advantages Offered By Surgical Robots
5.3.2 Technological Advancements
5.3.3 Increase in Funding for Surgical Robot Research
5.4 Restraints
5.4.1 High Cost of Robotic Systems
5.5 Opportunities
5.5.1 Low Penetration of Surgical Robots in Ambulatory Surgery Centers
6 Product Pipeline Assessment
6.1 Introduction
6.2 Clinical Trials for Surgical Robots
7 Surgical Robots Market, By Component
7.1 Introduction
7.2 Instruments & Accessories
7.2.1 Recurring Purchase of Instruments & Accessories for Each Surgical Procedure Responsible for the Large Share of This Segment
7.3 Robotic Systems
7.3.1 Technological Advancements in Surgical Robotic Systems Likely to Drive Market Growth
7.4 Services
7.4.1 Recurring Service Revenue Per Installation and Per Procedure to Offer Growth Opportunities
8 Surgical Robots Market, By Application
8.1 Introduction
8.2 General Surgery
8.2.1 High Growth in General Surgery Procedures to Positively Impact the Market
8.3 Gynecological Surgery
8.3.1 Advantages of Robotic Surgeries Have Contributed to Their Use in Gynecology
8.4 Orthopedic Surgery
8.4.1 High Accuracy of Implantation and Placement has Supported the Demand for Robotic Orthopedic Surgery
8.5 Urological Surgery
8.5.1 Minimally Invasive Robotic Surgery is Becoming A Popular Option in Urological Surgery
8.6 Neurosurgery
8.6.1 Increasing Prevalence of Neurological Disorders to Fuel Market Growth
8.7 Other Applications
9 Surgical Robots Market, By End User
9.1 Introduction
9.1.1 Hospitals
9.1.1.1 US has the Largest Installed Base of Surgical Robots in Hospitals
9.1.2 Ambulatory Surgical Centers
9.1.2.1 Rise in the Number of Outpatient Surgeries to Support Market Growth
10 Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US Dominates the North American Market in 2018; This Trend to Continue During the Forecast Period
10.2.2 Canada
10.2.2.1 Increased Use of Surgical Robots in Pediatric Patients to Drive Market Growth in Canada
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany to Witness the Highest Growth in the European Market
10.3.2 UK
10.3.2.1 Increasing Number of Robotic Surgical Procedures Performed in the Country to Propel Market Growth
10.3.3 RoE
10.4 Asia Pacific
10.4.1 Japan
10.4.1.1 Japan is the Second-Largest Market for Robotic-Assisted Surgery
10.4.2 China
10.4.2.1 China to Be the Fastest-Growing Country in the Asia Pacific Market
10.4.3 Rest of Asia Pacific (RoAPAC)
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking of Players, 2017
11.3 Competitive Scenario
11.3.1 Product Launches and Approvals
11.3.2 Agreements, and Partnerships
11.3.3 Acquisitions
11.3.4 Expansions
11.3.5 Other Developments
12 Company Profiles
12.1 Intuitive Surgical
12.1.1 Business Overview
12.1.2 Products and Services Offered:
12.1.3 Recent Developments
12.1.4 SWOT Analysis
12.2 Stryker
12.3 Mazor Robotics
12.4 Smith & Nephew
12.5 Medtech (Acquired By Zimmer Biomet)
12.6 Renishaw
12.7 Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics)
12.8 Medrobotics
12.9 Transenterix
12.10 Think Surgical (Subsidiary of Curexo Technology)
For more information about this report visit https://www.researchandmarkets.com/research/k3njbg/global_surgical?w=5
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