Global Surgical Robots Market To Witness an increase in Investments in Start-ups
Arizton’s recent market research report on the robotic surgery 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.
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Growing Technological Advancements/Innovations
With the growing demand for technologically advanced robotic platforms, vendors are focusing on developing and commercializing highly advanced and innovative robotic surgical devices. For instance, Titan Medical has introduced SPORT surgical system, which offers a small operating room footprint and surgeon access to patients’ body through a single incision. Similarly, da Vinci single-port robotic system which offers robotic visualization, precision, and dexterity through a single small incision received FDA approval for urologic applications in 2018. Further, small incision and scars, reduced risk of infection, faster recovery times, and reduced post-care discomfort are some of the major advantages of robotic-assisted surgeries, which are likely to impact the global surgical robots market during the forecast period.
Market Entry of MNCs through Acquisitions
The surgical robots market is witnessing an increase in inorganic growth strategies such as acquisitions and investments in Startup and emerging companies to expand their presence, enhance product portfolio, and improve expertise in the market. These strategies will complement vendors’ organic growth strategies, thereby gaining traction among end-users in the market. For instance, Johnson & Johnson acquired Auris Health in April 2019 for around $3.4 billion, which is one of the notable acquisitions in the recent period. Similarly, Medtronics has acquired Mazor Robotics. The aim of the acquisition was to enhance the capability of spine surgery devices market with Mazor’s robotic technology in the global surgical robots market.
Growing Usage of Robotic Platforms in Orthopedic Surgeries
Robotic-assisted surgeries are gaining prominence in several fields of medicine including orthopedics. They offer optimal contact at the bone/prosthesis interface in cementless implants, which results in improved primary bone stability. Robotic enabled minimally invasive spine surgery offers decreased intraoperative blood loss, decreased hospital stay, better soft-tissue handling, and improved postoperative pain. As a result, surgeons are highly recommending robotic-assisted devices for treating various spine disease, which contributes to the incremental growth of the surgical robots market. The higher acceptance of robotic-assisted surgeries in orthopedic surgeries is paving the growth avenues for vendors across the globe. Thus, the increased usage of robotic surgical platforms during orthopedic surgeries will positively influence the growth of the surgical robots market during the forecast period.
Intuitive Surgical, Stryker, Medtronic, TransEnterix are some of the leading vendors of the surgical robots market.
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The complete overview of the latest market research report on the surgical robots 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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