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Global Market Insights releases growth forecast of Surgical Robots Market

PR Newswire pune
Updated: 14-06-2019 16:10 IST
Global Market Insights releases growth forecast of Surgical Robots Market

Image Credit: Wikimedia

The orthopaedic surgery segment of the surgical robots market held around a 13% revenue share in 2018 and it is expected to expand immensely in the forecast timeframe, driven by increasing usage of surgical robots in orthopaedic surgeries. Recently developed robots are profusely used in orthopaedic surgery for complete hip replacements. Surgical robots allow accurate implant positioning that lowers the risk of errors. Also, increasing incidences of bone disorders such as arthritis are expected to drive the segment growth in the near future.

The robotic systems segment of the surgical robots market is set to achieve over 24% CAGR from 2019 to 2025. Rising patient preference for less invasive surgeries will augment the demand for robotic systems. 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 much less, minimizing the need for blood transfusions. These factors will drive the growth of the robotic systems segment in the coming years.

Ambulatory surgical centres segment accounted for USD 1.6 billion in 2018. ASCs have several advantages that include reduced stay and lower operational costs. Also, certain multispecialty ASCs provide minimally invasive surgeries for several chronic conditions that further raise the adoption of surgical robots in ASCs, proving beneficial for segmental growth.

World Surgical Robots Market revenue will reach over USD 24 billion by 2025, according to a new research report by Global Market Insights, Inc. Rising patient preference towards minimally invasive surgeries in developed as well as developing economies will propel surgical robots market growth in forthcoming years. Doctors have a high preference for surgical robots as they are able to provide minimally invasive surgeries that reduce recovery time, discomfort and prolonged pain. Moreover, factors such as reduced post-care discomfort, less need for blood transfusions and shorter hospital stay are some of the advantages of surgical robots that will drive the industry growth.

A large pool of patients suffering from chronic diseases in developed as well as developing countries will drive the demand for robotics in surgical procedures. An increase in the number of surgeries owing to the rising prevalence of chronic diseases will spur the surgical robot industry's business revenue. Growing patient preference towards minimally invasive procedures to prevent post-operative trauma and complications will foster market growth for surgical robots 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 stays will increase the demand for surgical procedures, thereby fueling industry growth over the coming years.

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

The North America surgical robots market accounted for over 40% revenue share in 2018 and is set to grow substantially over the analysis timeframe. Increasing healthcare expenditure in the region coupled with increasing demand for technologically advanced surgical procedures will drive the North America surgical robots industry growth. A strong foothold of key industry players in the region focusing on technology upgrades will favour business growth. For instance, in January 2019, Zimmer Biomet introduced Rosa Knee system, a robotically assisted total knee replacement surgery platform that offers 3D pre-operative planning tools as well as real-time intraoperative data.

Prominent industry players operational in the Surgical Robots market include MedTech, Mazor Robotics, Hansen Medical, Smith & Nephew, THINK Surgical, Medrobotics, Renishaw, Stryker and Intuitive Surgical. Strategies adopted by these players are partnerships, collaborations and agreements that boost the companies' revenue generation.