Global Surgical Robotics Market - GLOBAL:2021

Market Report Coverage :
Start Year : 2021 - Forecast Year : 2031 - Start Value : $6,367.0 Million in 2021 - Forecast Value : $16,774.5 Million by 2031 - CAGR % : 0.1%
Description :
Market Report Coverage - Surgical Robotics

Market Segmentation

• Product Type: Surgical Systems, Instruments & Accessories, and Services
• Application: General Surgery, Urology Surgery, Gynecology Surgery, Orthopedic Surgery, Cardiology Surgery, Head & Neck Surgery, and Others
• End-User: Hospitals, Ambulatory Surgical Centers, and Specialty Clinics

Regional Segmentation

• North America: U.S. and Canada
• Europe: Germany, U.K, France, Italy, Spain, Turkey, Russia, Belgium, Switzerland, Sweden, Netherlands, Denmark, Norway, Finland, Austria, Ireland, Rest-of-Europe
• Asia-Pacific: Japan, China, India, South Korea, Australia & New Zealand, Taiwan, Thailand, Malaysia, Singapore, Indonesia, and Philippines
• Latin America: Brazil, Mexico, Argentina, Chile, Venezuela, Colombia, Puerto Rico, Panama, and Uruguay
• Rest-of-the-World: Kingdom of Saudi Arabia, Israel, Qatar, Pakistan, Kuwait, Egypt, and Lebanon

Growth Drivers

• Rising Incidence of Chronic Disorders Inciting the Use of Robotic-Assisted Surgical Procedures
• Elevating Geriatric Population Changing the Adoption Patten for Minimally Invasive Surgical Procedures
• Rising Demand of Minimally Invasive Surgical Procedures Signifies the Need for Robotic-Assisted Surgeries
• Technological Advancement in the Field of Medical Surgeries

Market Restraints

• High Cost of Surgical Robotic Systems and its Associated Procedures
• Shortage of Skilled Professionals
• Restrictive Reimbursement Landscape

Market Opportunities

• Development of Low-Cost Surgical Robotic Systems
• Implementation of Artificial Intelligence (AI) in Surgical Robots
• Development of Surgical Simulators for the Training of Professionals

Market Trednds

• Operating Lease Programs Implemented by the Surgical Robotic Manufacturers

Key Companies Profiled

Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.

Key Questions Answered in this Report:

• What are the major market drivers, challenges, and opportunities in the global surgical robotics market?
• What are the underlying structures resulting in the emerging trends within the surgical robotics industry?
• What was the market value of the leading segments of the global surgical robotics market in 2020?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global surgical robotics market and what will be their contributions in 2030?
• What is the growth potential of surgical robotics in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• What was the total installed base and unit sold by country in 2020?

Overview of the Global Surgical Robotics Market

The global surgical robotics market is anticipated to witness tremendous growth over the forecast period primarily due to the increasing prevalence rate of chronic disorders, elevating global population coupled with the geriatric population, improving reimbursement policies, and public initiatives and funding to develop technologically advanced products. The market for surgical robotics (product type) is divided into three segments, namely, surgical systems, instruments & accessories, and services.

Surgical robotic systems primarily include surgical systems (capital equipment), instruments & accessories, and services (maintenance and up-gradation). In the past decade, the definition of these advanced technologies has expanded, involving the use of these systems for multiple surgical procedures ranging from general surgeries to orthopedic surgeries. The ongoing trend of rising demand for surgical robotic systems is anticipated to continue in the future with the implementation of technological innovations and advancements in minimally invasive surgical procedures.

Global Surgical Robotics Market Forecast

The global surgical robotics market is anticipated to grow with a robust CAGR of 10.2% during the forecast period, 2021-2031. The market for surgical robotics generated $5.46 billion in 2020, in terms of value and is estimated to reach $16.77 billion by 2031.

Competitive Landscape

The total market was valued at $5,460.5 million in 2020 with Intuitive Surgical, Inc. dominating the global surgical robotics market by holding 79.82% of the market share in 2020. This market dominance was attributed to the company’s presence within the market and huge market penetration in different regions. Currently, the company offers its fourth generational surgical robotic platforms, first commercialized in 2014 (da Vinci Xi Surgical System). Stryker Corporation was responsible for 9.09% of the global market share in 2020, second only to Intuitive Surgical, Inc. BIS Research anticipates that Intuitive Surgical will hold nearly 52.06% of the total market by the end of 2031.

In the past four years, i.e., (January 2017 to March 2021), the market has witnessed approximately 85 regulatory and legal developments, 56 funding activities, 51 partnerships, alliances, and business expansions, 15 mergers and acquisitions, and nine product offerings and upgradations. Currently, most market players are involved in conducting regulatory and legal activities in the market, as is evident from the shares of funding activities and new offerings. There is a potential for mergers and acquisitions activities in the future as more and more start-ups enter the market targeting specific surgical applications and key players of the conventional surgical robotics market look to consolidate.

Surgical robotics market has a promising outlook, and successful start-ups may enter into merger agreements with the well-established players in the market. Strategic agreements such as partnerships, alliances, and business expansion hold the largest share, followed by mergers acquisitions, and product launches activities.

The key players contributing to the global surgical market are Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.
Countries Covered :
North America
U.S.
Canada
Europe
Germany
Italy
France
Spain
U.K.
Turkey
Russia
Belgium
Switzerland
Sweden
Netherlands
Denmark
Norway
Finland
Austria
Ireland
Rest-of-Europe
Asia-Pacific
China
India
Japan
South Korea
Australia and New Zealand (ANZ)
Taiwan
Thailand
Malaysia
Singapore
Indonesia
Philippines
Latin America
Brazil
Mexico
Argentina
Chile
Venezuela
Colombia
Puerto Rico
Panama
Uruguay
Rest-of-the-World
Kingdom of Saudi Arabia (KSA)
Israel
Qatar
Pakistan
Kuwait
Egypt
Lebanon
Keywords :
Surgical Robotics, Surgical Robotics Market, Surgical Robotics Industry, Surgical Robotics Report, Surgical Robotics Market Forecasts, Surgical Robotics Market Trends, Surgical Robotics Market Products, Surgical Robotics Market Applications, Surgical Robotics Market by End User, Surgical Robotics Market Companies, Surgical Robotics Market Analysis, Surgical Robotics Industry Analysis, What is Surgical Robotics, Surgical Robotics Definition, Surgical Systems Surgical Robotics Market, Instruments and Accessories Surgical Robotics Market, Services Surgical Robotics Market, General Surgery Surgical Robotics Market, Urology Surgery Surgical Robotics Market, Gynecology Surgery Surgical Robotics Market, Orthopedic Surgery Surgical Robotics Market, Cardiology Surgery Surgical Robotics Market, Head and Neck Surgery Surgical Robotics Market, Hospitals Surgical Robotics Market, Ambulatory Surgical Centers Surgical Robotics Market, North America Surgical Robotics Market, Europe Surgical Robotics Market, Asia Pacific Surgical Robotics Market, Latin America Surgical Robotics Market
Press Release :
The “Global Surgical Robotics Market – Analysis and Forecast: 2021-2031,” is projected to reach $16.77 billion by 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 10.2% during the forecast period 2021-2031.

The comprehensive study of global surgical robotics market, BIS Research extensively covers the following:

• Market numbers on the segments that are influencing the market
• More than 80 products present in the market
• Over 70 companies were evaluated
• Detailed market share analysis of each product type
• Detailed analysis of the market potential on regional and cross segmentation in country-level analysis
• Detailed assessment of vendors, unit sold, and installed base of surgical system

Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, trends, competition mapping, segmental analysis of each product type, application, end-user.

The market intelligence by BIS Research additionally throws a spotlight on the key industry trends that have a humungous influence in shaping the industry going forward. Some of these trends include the collaboration of the leading manufacturers with the emerging players and research institutions in the surgical robotics market to leverage their expertise, exploration of new applications, and several other key trends.

The healthcare landscape is changing immensely to keep up or to improve high-quality care by bringing down the expenses (cost). The variables, for example, the rising geriatric population on a worldwide level as well as different care standards between developed and developing economies, are posing a challenge to reconcile these issues. The minimally invasive surgery within the healthcare sector holds gigantic potential as it is considered as the best treatment alternative for open surgery.

These machines are extraordinarily structured to reach in areas where a normal specialist can't access without making a large incision. As the innovation advances prompting exponential development in robotic-assisted surgical procedures, medical centers will deliver high-quality care options by offering efficient and precise surgical procedures, with less patient discomfort. From patient perspective, quicker recuperation time, reduced risk of infection, shorter hospital length of stay, and small incisions or scars are the significant advancement in surgical robotics.

The global surgical robotics market saw rapid development since the first product introduced in the market. The growth is expected to be mainly attributed to primary drivers in this market, comprising elevating geriatric population, rising healthcare spending, increasing cases of chronic disorders, and expanding support from governments, among others. The market is expected to grow at a significant growth rate due to the opportunities, such as a massive scope for phenomenal profits through venturous investments, integrative industry-academia collaboration, and novel surgical applications, which lie within its domain. Notwithstanding, there a noteworthy number of restraints, including a shortage of skilled professionals, and the high cost of surgical robotic systems and its associated surgical procedures.

According to Aditya Singh, Senior Analyst at BIS Research, “The overall surgical robotics market has witnessed an increased influx of surgical robotics start-ups, nearly 65+ companies engaged in this market. The emerging players are trying to identify niche surgical applications for indication of use, moving their technological direction away from “me too” surgical platforms. The market in anticipated to grow double-digit rate during the forecast period, with the anticipated regulatory clearances of surgical robotics platforms in the future. Also, manufacturers are focused on developing advanced technological platforms such as long distance teleoperated systems, miniaturized systems, and autonomous systems to gain traction in the market.”

This report is a meticulous compilation of research on more than +65 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders in the market. The report also profiles 26 companies including several key players, such as Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.

The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy the report?

• Manufacturers of surgical robotics
• Investors and suppliers in healthcare domain

How can market intelligence on surgical robotics add value to an organization’s decision-making process?

• Aid in product development
• Help in targeting a segment for launching a new product
• Offer go to market strategies
• Support in diversifying the product portfolio basis application
• Aid in understanding the end-user requirement
• Assist in exploring the newer application
• Support in analyzing the competitors’ funding scenario

Insightful Questions Covered to Enable Companies take Strategic Decisions

• What are the major market drivers, challenges, and opportunities in the global surgical robotics market?
• What are the underlying structures resulting in the emerging trends within the surgical robotics industry?
• What was the market value of the leading segments of the global surgical robotics market in 2020?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global surgical robotics market and what will be their contributions in 2030?
• What is the growth potential of surgical robotics in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• What was the total installed base and unit sold by country in 2020?
Companies Mentioned :
Asensus Surgical, Inc.
avatera medical GmbH
CMR Surgical Limited
Corin Group
Curexo, Inc.
Globus Medical, Inc.
Intuitive Surgical, Inc.
Johnson & Johnson
Medrobotics Corporation
Medicaroid Corporation
Medtronic plc
meerecompany Inc.
Monteris Medical Corporation
Neocis, Inc.
PROCEPT BioRobotics Corporation
Renishaw plc
Siemens Healthineers AG
Smith & Nephew plc
Stereotaxis, Inc.
Stryker Corporation
THINK Surgical, Inc.
Titan Medical, Inc.
Venus Concept, Inc.
Vicarious Surgical, Inc.
Virtual Incision Corporation
Zimmer Biomet Holdings, Inc.
Press Release :
The “Global Surgical Robotics Market – Analysis and Forecast: 2021-2031,” is projected to reach $16.77 billion by 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 10.2% during the forecast period 2021-2031.

The comprehensive study of global surgical robotics market, BIS Research extensively covers the following:

• Market numbers on the segments that are influencing the market
• More than 80 products present in the market
• Over 70 companies were evaluated
• Detailed market share analysis of each product type
• Detailed analysis of the market potential on regional and cross segmentation in country-level analysis
• Detailed assessment of vendors, unit sold, and installed base of surgical system

Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, trends, competition mapping, segmental analysis of each product type, application, end-user.

The market intelligence by BIS Research additionally throws a spotlight on the key industry trends that have a humungous influence in shaping the industry going forward. Some of these trends include the collaboration of the leading manufacturers with the emerging players and research institutions in the surgical robotics market to leverage their expertise, exploration of new applications, and several other key trends.

The healthcare landscape is changing immensely to keep up or to improve high-quality care by bringing down the expenses (cost). The variables, for example, the rising geriatric population on a worldwide level as well as different care standards between developed and developing economies, are posing a challenge to reconcile these issues. The minimally invasive surgery within the healthcare sector holds gigantic potential as it is considered as the best treatment alternative for open surgery.

These machines are extraordinarily structured to reach in areas where a normal specialist can't access without making a large incision. As the innovation advances prompting exponential development in robotic-assisted surgical procedures, medical centers will deliver high-quality care options by offering efficient and precise surgical procedures, with less patient discomfort. From patient perspective, quicker recuperation time, reduced risk of infection, shorter hospital length of stay, and small incisions or scars are the significant advancement in surgical robotics.

The global surgical robotics market saw rapid development since the first product introduced in the market. The growth is expected to be mainly attributed to primary drivers in this market, comprising elevating geriatric population, rising healthcare spending, increasing cases of chronic disorders, and expanding support from governments, among others. The market is expected to grow at a significant growth rate due to the opportunities, such as a massive scope for phenomenal profits through venturous investments, integrative industry-academia collaboration, and novel surgical applications, which lie within its domain. Notwithstanding, there a noteworthy number of restraints, including a shortage of skilled professionals, and the high cost of surgical robotic systems and its associated surgical procedures.

According to Aditya Singh, Senior Analyst at BIS Research, “The overall surgical robotics market has witnessed an increased influx of surgical robotics start-ups, nearly 65+ companies engaged in this market. The emerging players are trying to identify niche surgical applications for indication of use, moving their technological direction away from “me too” surgical platforms. The market in anticipated to grow double-digit rate during the forecast period, with the anticipated regulatory clearances of surgical robotics platforms in the future. Also, manufacturers are focused on developing advanced technological platforms such as long distance teleoperated systems, miniaturized systems, and autonomous systems to gain traction in the market.”

This report is a meticulous compilation of research on more than +65 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders in the market. The report also profiles 26 companies including several key players, such as Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.

The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy the report?

• Manufacturers of surgical robotics
• Investors and suppliers in healthcare domain

How can market intelligence on surgical robotics add value to an organization’s decision-making process?

• Aid in product development
• Help in targeting a segment for launching a new product
• Offer go to market strategies
• Support in diversifying the product portfolio basis application
• Aid in understanding the end-user requirement
• Assist in exploring the newer application
• Support in analyzing the competitors’ funding scenario

Insightful Questions Covered to Enable Companies take Strategic Decisions

• What are the major market drivers, challenges, and opportunities in the global surgical robotics market?
• What are the underlying structures resulting in the emerging trends within the surgical robotics industry?
• What was the market value of the leading segments of the global surgical robotics market in 2020?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global surgical robotics market and what will be their contributions in 2030?
• What is the growth potential of surgical robotics in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• What was the total installed base and unit sold by country in 2020?
Headline :
Global Surgical Robotics Market to Reach $16.77 Billion by 2031
Table of Contents :
Please pick up TOC from website URL: https://bisresearch.com/industry-report/surgical-robotics-market-report.html