DUBLIN--(BUSINESS WIRE)--Oct 9, 2019--

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 the 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.

The market for surgical robotics generated $4.71 billion in 2018, in terms of value and is estimated to reach $15.43 billion by 2029.

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.

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The market has been witnessing a tremendous shift into a different business/acquisition model of operating lease polices. It offers attractive procurement options to hospitals and specialty clinics to reduce their upfront capital cost. The adoption of leasing strategies would help the surgical robotics manufacturers to maintain their revenue generation capabilities and gross margins, and market penetration. This strategic move will help the companies to penetrate into the local markets with a prime focus on tier-2 hospitals and private clinics. In addition, this will also help the companies to increase their installed base and revenue generation capabilities.

Scope of the Surgical Robotics Market

The report constitutes an in-depth study of the global surgical robotics market, including a thorough analysis of the products and services across different regions. The study represents a detailed analysis of the market trends and the market size for the time period 2017-2029, wherein 2018 is the base year and the years from 2019 to 2029 constitute the forecast period.

The report covers all the prevalent trends which are expected to play a major role in the growth of the market over the forecast period. It also highlights various drivers, restraints, trends, and opportunities that are expected to influence the market's growth during the forecast period. The scope of this report is focused on the global surgical robotics market, products, market dynamics, growth prospect mapping, SWOT analysis, Porter's Five Forces, and country-wise analysis.

The study provides a holistic perspective on the market growth in terms of revenue estimates across different regions which include North America, Europe, Asia-Pacific (APAC), Latin America, and Rest-of-the-World (RoW). The report provides a cross-sectional analysis of the global surgical robotics market in terms of market estimates and projections for different product types across different countries. The regions have been further segmented to cover the in-depth country-level analysis.

The North American region has been segmented into the U.S. and Canada. Similarly, Europe has been further segmented into the Germany, France, U.K., Italy, Belgium, Netherlands, Switzerland, Sweden, Denmark, Norway, Czech Republic, Finland, Austria, Ireland, Spain, Turkey, Russia, and Rest-of-Europe; Asia-Pacific has been segmented into Australia & New Zealand, Japan, China, India, South Korea, Taiwan, Thailand, Singapore, Malaysia, Indonesia, and Philippines; Latin America has been segmented into Brazil, Argentina, Chile, Venezuela, Mexico, Colombia, Puerto Rico, Panama, and Uruguay; and Rest-of-the-World has been segmented into KSA, Israel, Qatar, Pakistan, Egypt, Kuwait, and Lebanon.

Market Segmentation

By Product

  • Surgical Systems
  • Instruments & Accessories
  • Services

By Application

  • Urology Surgery
  • Gynaecology Surgery
  • General Surgery
  • Cardiology Surgery
  • Orthopaedic Surgery
  • Head and Neck Surgery
  • Others

By End-User

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Specialty Clinics

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Rest-of-the-World (RoW)

Companies Mentioned

  • Auris Health, Inc. (Johnson & Johnson)
  • CMR Surgical Limited
  • Corindus Vascular Robotics, Inc.
  • Globus Medical, Inc.
  • Intuitive Surgical, Inc.
  • Mazor Robotics Ltd. (Medtronic plc)
  • Medrobotics Corporation
  • Medtech SA (Zimmer Biomet Holdings, Inc.)
  • meerecompany Inc.
  • Neocis, Inc.
  • OMNI Orthopaedics Inc. (Corin Group)
  • Renishaw plc
  • Restoration Robotics, Inc.
  • Riverfield Co., Ltd.
  • Smith & Nephew plc
  • Stereotaxis, Inc.
  • Mako Surgical Corp. (Stryker Corporation)
  • Synaptive Medical, Inc.
  • THINK Surgical, Inc.
  • Titan Medical Inc.
  • TransEnterix, Inc.
  • Virtual Incision Corporation

For more information about this report visit https://www.researchandmarkets.com/r/nevzr3

Laura Wood, Senior Press Manager

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INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 10/09/2019 06:34 AM/DISC: 10/09/2019 06:34 AM

Copyright Business Wire 2019.