Surgical Robots Market Growth Overview The surgical robots market was valued at USD 4974.49million in 2019, and is expected to register a CAGR of 21.9% over the forecast period (2020-2025). Surgical robots can perform complex procedures with geometrical precision, even in anatomical areas that are difficult to reach by human surgeons. This is resulting in the rising preference of surgeons and patients to utilize robots.
These Surgical System its Accessories and Service robots would display high level of precision and better controlling ability of the environment. At present, the market is considering the da Vinci system as the world’s number one surgical robot. The process has significantly miniaturized various tools that creates more opportunities for the minimally invasive surgery section to penetrate the market.
A surgical robot is a combination of equipment, accessories, and software that involves partial interference or complete dependence on specially devised machines to carry out surgical operations. Robotic technology is enhancing surgery through improved precision, stability, and dexterity.
The surgical robots market has gained a competitive edge in recent years. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer bases across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability.
Key Market Trends
Cardiovascular Surgery to Hold Significant Market Pie
– Robotic heart surgery offers several advantages, such as keeping the breastbone/sternum intact, making smaller incisions, and minimizing blood loss. Major centers have adopted the da Vinci Surgical System for performing robotic heart surgeries, and have registered excellent results. The types of cardiac surgeries performed by robotic systems are mitral valve, repair or replacement, atrial septum defect closure, tricuspid valve repair, maze procedure to treat atrial fibrillation, and coronary artery bypass.
– Currently, emerging nanobots are being investigated to unclog arteries. Other advances in cardiovascular surgery include catheter-based robots, robot-based valves, better operative techniques, smaller instruments, improved holographic 3D vision, nanotechnology, and faster and smaller computer circuits that enable quicker transfer of data.
– The cost of robotic surgery for cardiology has not been significantly higher than the cost of conventional surgery. However, improvements in post-operation for the quality of life make the robotic approach more cost-efficient. Cardiac robotic surgery decreases hospital stay, thus, making more spots available for patients, and offering the potential for additional revenue.
– The American Heart Association, in its publication Heart Disease and Stroke Statistics, 2016 Update At-A-Glance, estimates that 98 million American adults will have one or more types of cardiovascular diseases. Surgery represents the most effective therapy for advanced cardiovascular conditions.
– May 2018 – Intuitive Surgical received FDA clearance in the United States for its new da Vinci X Surgical System. The da Vinci X System will offer urologic surgical procedures that are appropriate for a single port approach. In June, Auris Health Inc. unveiled its next generation of surgical robots, which help doctors diagnose lung cancer as early as possible.
– January 2018 – 3D Systems and Stryker agreed for an exclusive distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals, saving both surgeons and patients hours in the operating room.
Some of the Key Players Top Companies Listed are-
Stryker Corporation (US)
Intuitive Surgical Inc. (US)
Renishaw PLC (UK)
TransEnterix Inc. (US)
Mazor Robotics (Israel)
Hansen Medical (US)
Merck Co. & Inc (US)
Medtech SA (France)
Smith & Nephew (UK)
Verb Surgical Inc. (US)
Medrobotics Corporation (US)
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