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Robotic Surgical Procedures Market to Grow at 21.8% CAGR; Introduction of Advanced Robotic Equipment by Prominent Enterprises to Aid Growth

February 18, 2021 | Healthcare

The global robotic surgical procedures market size is projected to reach USD 19.03 billion by 2027 owing to the increasing applications of advanced robotic equipment in the healthcare industry globally, observes Fortune Business Insights™ in its report, titled, Robotic Surgical Procedures Market Size, Share & COVID-19 Impact Analysis, By Application (General Surgery, Gynecology, Urology, Orthopedics, and Others), Regional Forecast, 2020-2027. As per the analysis, the market value for these procedures stood at USD 5.32 billion in 2019 and is expected to register a CAGR of 21.8% from 2020 to 2027.


Stryker Announces the Acquisition of Mobius Imaging, LLC and GYS Tech, LLC


In October 2019, Stryker announced the acquisition of Mobius Imaging, LLC and GYS Tech, LLC, Stryker’s sister company. This acquisition will help the company expand its expertise in the field of robotic surgical procedures. Under the acquisition agreement, both the acquired companies are expected to bring expertise to the advanced imaging and robotics technology owned by Stryker. In addition, these companies will also help Stryker to build a robust product line, which will help it to expand its presence in new fields including orthopedics, spine, and neurotechnology.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/robotic-surgical-procedures-market-100124


Increasing Applications of Robotic Surgeries to Drive Growth


Due to factors including favorable reimbursement policies and increasing awareness among healthcare professionals and patients for minimally invasive surgeries, the demand for robotic type of surgical procedures is surging on a global scale. This is anticipated to drive the robotic surgical procedures market growth. For instance, according to the National Center for Biotechnology Information (NCBI), the use of robotic surgery for general procedures increased from 1.8% in 2012 to 15.1% in 2018. However, the maintenance cost of robot-assisted surgical procedures is higher as compared to that of traditional procedures, which is predicted to limit their growth.


Developing Cutting-edge Equipment to Aid Key Players Upgrade Their Product Lines


The global robotic surgical procedures market comprises various prominent enterprises that are constantly focusing on developing innovative surgical equipment in order to upgrade their portfolios. For instance, in June 2018, Intuitive Surgical announced the approval of its Da Vinci SP system for urology. This approval allowed surgeons to perform a single-port approach in procedures requiring narrow access.


Industry Development-



  • In August 2020, avateramedical GmbH announced the acquisition of FORWARDttc GmbH. The acquired enterprise specializes in robotic automation technology and focuses on robotics hardware and software. avateramedical aims to strengthen its market position with this acquisition.

  • In May 2017, Intuitive Surgical introduced da Vinci X, its new da Vinci System, in the market. The new equipment is capable of performing surgical procedures, such as hernia repair, prostatectomy, and benign hysterectomy, at lower costs.


A List of Key Manufacturers Operating in the Global Market:



  • Intuitive Surgical (Delaware, United States)

  •  Stryker (Michigan, United States)

  •   Smith & Nephew (London, United Kingdom)

  •  ZIMMER BIOMET (Warsaw, United States)

  •  Accuray Incorporated (Sunnyvale, U.S.)

  • CMR Surgical Ltd. (Cambridge, United Kingdom)

  • avateramedical GmbH (Jena, Germany)

  • Johnson & Johnson Services, Inc. (New Brunswick, United States)

  • Medtronic (Dublin, Ireland)

  • Other Prominent Players


Further Report Findings:



  • On the basis of application, the general surgery segment is estimated to dominate the market share. The segment growth is attributed to the increasing utilization of robot-assisted surgical procedures for hysterectomy, nephrectomy, and cardiac valve repair.

  • On the basis of region, North America is showcasing high demand for robotic surgical procedures and is set to lead with a market value of USD 4.08 billion in 2019. The growth is attributed to the presence of prominent pharmaceutical enterprises in the U.S., working on the advancement of robot-assisted surgical procedures in the region.


Table of Segmentation






































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Application



  • General Surgery

  • Gynecology

  • Urology

  • Orthopedics

  • Others



 



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Rest of the World


Robotic Surgical Procedures Market
  • PDF
  • 2019
  • 2016-2018
  • 162

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  • 4850
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    8850

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