The Global Robot Assisted Surgical Systems Market is projected to grow at a CAGR of 14.8% from USD 5.86 billion in 2019 to USD 17.80 billion in 2030. The Global Robot Assisted Surgical Systems market is being driven at a monumental rate as the hospitals and ambulatory surgical centers around the world are rapidly adopting the robotic surgical systems for its ability to operate in complex procedures with minute precision, control, and flexibility compared to any other conventional manual procedures.
Robot assisted surgical systems were initially employed in the minimally invasive surgery techniques, but its splendid accuracy has brought in the applicability of the robotic assistance in certain open surgical procedures also.
The core advantages that can be ascertained by applying the robot assisted surgical systems in medical procedures are greater visualization ability, enhanced dexterity, and precision in invasion. Apart from the complete robotic procedures, robotic assistance is widely employed in the traditional procedures for its advanced visibility that allows the surgeons to observe the site better, and hi-tech robotic assistance mechanisms & accessories heighten the accuracy of the invasions. All in all, the robotic assisted surgical systems expedite the overall surgery and increases the success rate by diminishing the errors in procedure. Many studies suggest that the success rate of a surgery has been predominantly increased by adopting the robot assistance in the procedure.
The surgical robots sub-segment held the highest market share in 2019 as this require an extensive investment to design and develop and also widely used in the full-fledged robotic surgeries. Surgical robotics type incorporates flexible robotics, data science, surgical intelligence, micro-instrumentation, and other technologies for surgical, diagnostic and therapeutic procedures. Surgical robots can perform the trajectory, speed and depth of their movements that too with great precision. They are especially designed for the procedures that require repetitive & identical movements as they are able to work without any fatigue. Deep learning and artificial intelligence are being applied to the surgical robots so that the robots can be precisely automated which can perform procedures beyond the pre-programmed mobility.
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The general surgery and its multiple subâ€specialties has experienced an enormous progression of in both open surgeries and minimally invasive procedures, performed with the robotic technology. The robotic applications in the general surgery are extensive and have contributed to the enrichment of many surgical subâ€specialties based on many different advantages such as superior surgeon control with autonomy, extended instrument dexterity & tissue handling, advanced 3D visualization, wristed articulation, and many other benefits.
North America accounted for the largest share in 2019 and is anticipated to be one of the key revenue-generating regions for the market. A large share of the region’s value comes from the U.S. owing to factors such as the early development of the healthcare technology, awareness related to the minimally invasive surgeries, and super precision in surgery.
The European region holds some of the most dominant players in this market. The country France & Germany are some of the leading nations to utilize the most significant amount of robotic surgery every year. A higher consumer base has been calculated from the Asia Pacific region owing to an overall growth in the investment in the healthcare technology.
- The growing deployment of computer-navigated and robotic technologies for performing spinal surgery is likely to fuel the market growth, as both of these methods aid in improving the precision of implant placement.
- As per the National Institute of Neurological Disorders and Stroke (NINDS), approximately 80.0% of adults suffer from low back pain, and it is the single primary cause of disability across the globe, according to Global Burden of Disease Study (GBD).
- By the Types segment, Neurosurgery is expected to gain a significant market share in the year 2019 and is expected to rise with a CAGR of 12.3% in the forecasted period due to high accuracy and precision in performing operations.
- Hospitals & clinics as end use has obtained the largest share of about 69.7% in the year 2019 as many surgeons are adapting to the robotic-assisted surgeries in the hospitals.
- As the surgery offers higher efficiency and the rise in demand for minimally invasive surgeries are primary factors driving the market. An increase in the number of approvals granted by the FDA to the surgical robotic companies for research and development and other new operational interventions are further contributing to this growth.
Companies considered and profiled in this market study
Key players in the market include Intuitive Surgical, Stryker Corporation, Medrobotics Corporation, Medtronic, Transenterix, Inc., Auris Health, Inc., Omnilife Science, Inc., CMR Surgical, Transenterix, Inc., and Smith & Nephew, among other companies, have been profiled in the report.
The players operating in the market have undertaken a number of strategies related to the market in the period 2019-2020. Some of the key highlights are:
- In February 2020, Midland Health had partnered with local neurosurgeons and Midland Memorial Hospital for providing small-cut robot-assisted spine surgery. The Mazor X Stealth Robotic Navigation system was used in the operation as it helps with image-based pre-operative analytics and provides intra-operative guidance during surgery. Surgeons use the images obtained by a traditional CT scan or intraoperative imaging to plan and execute spine surgeries. The robot uses the arms to provide trajectory guidance to the surgeon’s tools to operate at the exact position, angle, and depth during the operation. The spine robot uses minimally invasive procedures for performing surgery.
- Medrobotics Corp, in 2019 had announced that it had received FDA regulatory clearance for its Flex Robotic System in for performing colorectal surgeries in the United States. Medrobotics was the first company to offer minimally invasive, steerable, and shapeable robotic products for colorectal operations in the U.S.
The industry offers numerous growth opportunities, and thereby, a number of emerging start-ups providing innovative products, formulations, insights, or robotic techniques in surgeries have been entering the market. ICan Robotics, Avatermedical, ReHaptix are some of these start-ups that have been profiled in the report, and their promising innovations have proven to be the potential drivers of this market.
Mergers and Acquisitions are an integral part of the Robot Assisted Surgical Systems industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- Adoption of advanced technological systems and high interest in capturing untapped economies are expected to play vital role in impelling the market growth. For instance, Monogram Orthopaedics a U.S. based company has developed a robotic system Monogram- it custom prints a hip or knee and uses a surgical robotics system for the implants.
- In 2019, CMR Surgical a UK based company raised a USD 240 million Series C round for its Versius surgical robot launch in emerging economies in Asia and in developed nations in Europe. However, many surgeons are unfamiliar about the use of robotics in healthcare, and also due to mechanical failures associated with surgeries are the factors restraining the market.
Reports and Data forecast promising developments for increased adoption of Robot Assisted Surgical Systems technology. According to technological experts, the main crisis that the surgeons face is to perform the error less surgeries in the super-complex procedures. With the help of robot assisted surgeries many surgeries that have been extremely tough to perform and only a few surgeons around the world could undergo the operation, can be made possible through the robotic assistance. Many hospitals have been heavily investing to adopt the robotic assisted surgical systems, while many healthcare companies who ideally were inclined manufacturing equipment are now working on the robotics system for the surgeries. Any investment made on the surgical robotics start-ups would help fuel up the product demand of the company.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2030. The scope of the report can be defined as:
For the purpose of this study, Reports and Data have segmented the robot assisted surgical systems market on the basis of type, component, application, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Surgical Robots
- Rehabilitation Robots
- Emergency Response & Utility Robots
Component Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- General Surgery
- Gynecological Surgery
- Urological Surgery
- Orthopedic Surgery
- Non-Invasive Radiosurgery
- Emergency Response Robotic System
- Utility Robotic System
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Asia Pacific
- Latin America
TABLE OF CONTENT
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2030
Chapter 3. Indicative Metrics
Chapter 4. Robot Assisted Surgical Systems Market Segmentation & Impact Analysis
4.1. Robot Assisted Surgical Systems Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Substantial demand for minimally invasive surgery
18.104.22.168. Increasing growth of robotics technique
22.214.171.124. Increasing investment in the robotics surgery
4.2.3. Market restraints analysis
126.96.36.199. Lack of skilled surgeons
188.8.131.52. Detrimental growth of in the low performing regions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. COVID-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Robot Assisted Surgical Systems Market By Type Insights & Trends
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