Surgical Robotics Market Growth, Demand and Technology Advancement in Healthcare 2021 – Medtronic plc, Smith and Nephew Plc

The Global Surgical Robotics Market size was valued at USD 66.02 billion in 2019 and is predicted to reach USD 158.70 billion by 2030 with a CAGR of 8.3% from 2020-2030.

Surgical Robotics lead to minimally invasive procedures with high precision, minimal incision, reduced blood loss, lesser pain, and quicker healing time, as compared to traditional surgical procedures. In robotically assisted surgeries, the surgeon controls overall surgical procedure by manipulating the self-powered, computer aided robot, that comprises of miniature surgical instruments mounted on its robotic arms. Surgical robots are commonly used in minimally invasive surgery, remote surgery, and unmanned surgery. The increasing commercialization of surgical robots consequently propagates the growth of global surgical robotics market.

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Top Companies: Medtronic plc, Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Intuitive Surgical, Inc., Auris Surgical Robotics, Inc. (Hansen Medical Inc.), Stryker Corporation (Mako Surgical Corp.), Renishaw plc, Kuka Ag, Mazor Robotics, Zimmer Biomet Holdings Inc. and Think Surgical Inc. and others.

The global surgical robotics market share has been analyzed based on component, surgery type and geography. Based on component, the market is segmented into systems, services, and accessories. Based on surgery type, the market is divided into gynecology surgery, urology surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising Europe, North America, Asia-Pacific, and RoW.

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North America region dominated the global surgical robotics market in the past, and is expected to maintain this trend throughout the forecast period, accounting for the major market share. This is attributed to higher investments by regulatory bodies to adopt advanced surgical robotics systems, well-established healthcare infrastructures with technologically advanced healthcare amenities, and presence of key market players in this region. Asia Pacific region is expected to demonstrate a substantial growth in the global surgical robotics market, growing with the highest CAGR values throughout the forecast period. This is due to increase in medical tourism, favorable reimbursement policies, and untapped market opportunities offered by the emerging economies present in this region.

COVID-19 Impact on Surgical Robotics Market:

The outbreak of COVID-19 has brought along a global recession, which has impacted several industries. Along with this impact COVID Pandemic has also generated few new business opportunities for Surgical Robotics Market. Overall competitive landscape and market dynamics of Surgical Robotics has been disrupted due to this pandemic. All these disruptions and impacts has been analysed quantifiably in this report, which is backed by market trends, events and revenue shift analysis. COVID impact analysis also covers strategic adjustments for Tier 1, 2 and 3 players of Surgical Robotics Market.

The report, published by Industry Growth Insights (IGI), is the most reliable information as the study consists of a concise graphical representations, tables, and figures which allow the users to easily understand the key market position of sectors or segment without going through a deep study of the report. The tables and figures represent the latest update information that provides a broad picture of several market developments of the products and services over the last few years.

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