The robotic surgical devices market is witnessing various technological advancements launched by several vendors.
Arizton’s recent market research report on the robotic surgical devices market provides comprehensive industry analysis, trends forecasts, and competitive analysis. The research study segments the market by products (robotic systems and instruments and accessories), applications (general surgeries, gynecological surgeries, urological surgeries, and other surgeries), end-users (hospitals and ASCs), and geography (APAC, North America, Europe, Latin America, and MEA).
The robotic surgery devices market is expected to grow at a CAGR of about 17% during the period 2018–2024.
Instruments and Accessories Segment is Expected to Witness Growth due to Increased Preference Towards MI Surgical Techniques
The presence of a large pool of patient population with various diseases and rise in awareness about the availability of advanced robotic treatment options are some of the major factors fueling the robotic surgical devices market. The market is expected to grow significantly, especially due to the growing preference for MI (minimally invasive) surgical technique over conventional surgical approaches for treating various diseases. The robotic surgical devices market is witnessing various technological advancements launched by several vendors. In addition, several investigational medical companies are focusing on developing new robotic surgical instruments and accessories to perform robotic surgeries. Furthermore, new regulatory approvals and product launches will likely to drive the market growth of this segment during the forecast period.
Robotic-assisted Surgeries are Gaining Traction
The general surgeries segment is dominating the global robotic surgical devices market. This segment is growing at a faster rate than all other application segments as the usage of robotic surgical devices for performing surgeries like bariatric, hernia repair, cholecystectomy, and colorectal surgeries is increasing, especially in developed countries like the US, Germany, Japan, and France. Further, with growing technological advancements, the demand for MI techniques is growing rapidly owing to benefits like quick recovery, shorter hospital stays, less blood loss and less chance of infections. Due to improved dexterity and surgery outcomes, robotic-assisted surgeries are becoming popular, thus driving the robotic surgical devices market.
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Due to Easy Reimbursement Policies, End-Users are Preferring Hospitals than ASCs
The hospital segment dominates the global robotic surgical devices market due to high number of surgeries performed in hospitals. The growing elderly population and increasing prevalence of diseases such as prostate cancer, uterine cancer, lung cancer, hernia, spinal and heart diseases are the major factors contributing to the increasing volume of robotic surgeries in hospitals. Further, a significant increase in the patients preferring robotic surgeries in hospital due to better reimbursement policies is also boosting the robotic surgical devices market. In addition, hospitals are collaborating together to form Group Purchase Organizations (GPOs) and are negotiating with different manufacturers to get robotic surgical devices at best prices, which will contribute in the market growth.
Intuitive Surgical, Stryker, Medtronic, TransEnterix are some of the leading vendors of the robotic surgical devices market.
The complete overview of the latest market research report on the robotic surgical devices market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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