Orthopaedic Surgical Robots Market will register 24% CAGR up to 2025

Wed May 22, 2019 - 2:30pm UTC

Ambulatory surgical centers segment of surgical robots market accounted for more than USD 1.6 billion in 2018 and is set to achieve double digit CAGR from 2019 to 2025 owing to reduced stay and lower operational costs.

Selbyville, United States – May 22, 2019

Robotic systems segment of surgical robots market will grow over 24% from 2019 to 2025. Rising patient preference towards less invasive surgeries will augment robotic systems demand. Robotic assistance allows professionals to carry out tasks with maximum control, flexibility and high precision as compared to conventional techniques. Blood loss during robotic surgeries is very less, hence requirement for blood transfusion can be minimized. These factors will drive the growth of robotic systems segment in upcoming years.

Gynecology application segment accounted for more than 17% revenue share in 2018 and will show similar growth in the foreseeable future. Segment growth is attributed to introduction of robot-assistance in the field of gynecological surgeries such as hysterectomy, abdominal myomectomy, tubal reanastomoses, radical hysterectomy, lymph node dissections, and sacrocolpopexies. Growing patient preference towards robotic approach to overcome shortcomings of conventional suture-intensive gynecological surgeries will increase adoption of robot-assisted minimally invasive procedures, thereby accelerating segment growth.

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Orthopedic surgery segment of surgical robots market held around 13% revenue share in 2018 and it is expected to expand immensely in foreseeable future due to increasing usage of surgical robots in orthopedic surgeries. Recently developed robots are profusely used in orthopedic surgery for complete hip replacement. Surgical robot allows accurate implant positioning that lowers the risk of errors. Also, increasing incidences of bone disorders such as arthritis is expected to drive the segment growth in near future.

Global Surgical Robots Market will surpass USD 24 billion by 2025; according to a new research report by Global Market Insights, Inc. Growing demand for minimally invasive surgeries will lead to development of technologically advanced surgical robots thereby, fostering business growth in the foreseeable future. For instance, Intuitive Surgical have developed da Vinci single site technology that provides multiport, single incision surgical procedures, thereby enhancing its acceptability among physicians and patients. High accuracy level and increased reliability offered by surgical robots owing to technological advancements will positively impact industry growth. However, high cost of surgical robots may hamper industry growth in developing and underdeveloped countries during the forecast timeline.

Large patient pool suffering from chronic diseases in developed as well as developing countries will drive the demand for robotics in surgical procedures. Increase in number of surgeries owing to rising prevalence of chronic diseases will spur the surgical robot’s business revenue. Growing patient preference towards minimally invasive procedures to prevent post-operative trauma and complications will foster surgical robots market growth during the forecast period. Other advantages associated with minimally invasive surgeries such as smaller incision length, less blood loss during the surgery, reduced discomfort, and shorter hospital stay will increase the demand for surgical procedures, thereby fueling industry growth over the coming years.

U.S. surgical robots market was valued at USD 2.2 billion in 2018. Considerable revenue size will be due to high adoption of technologically advanced surgical robots. In addition to this, geriatric population susceptible to chronic conditions is increasing rapidly. This scenario will prove beneficial for the industry growth as it will create immense demand for surgical robots to carry out minimally invasive surgical procedures. Furthermore, positive regulatory scenario will support development in the surgical robots thereby, fostering country growth.

Eminent industry players operational in surgical robots market includes Accuray, Globus Medical, Hansen Medical, Intutive Surgical, Johnson & Johnson, Mazor Robotics, Omni, Stryker, Think Surgical and Zimmer Biomet. These industry players adopt strategies such as geographic expansion, partnerships, merger and novel product launch to sustain market competition. For instance, in September 2017, Think Surgical entered South Korean market with its TSolution One Surgical System, used in Total Knee Arthroplasty (TKA) cases. The strategy aimed at increasing company’s geographical reach and broadening existing customer base.

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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/surgical-robots-market

This news is published on Reuters.

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