Press Release

Global Size of Surgical Robots Market Hits Record Value of US$ 6,875.1 Mn By 2026

Global Surgical Robots Market was Valued at US$ 6,875.1 Mn in 2018 and Anticipated to Observe a CAGR of 21.4% during the Forecast Period: Fortune Business Insights

The Global Surgical Robots Market will derive growth from recent technological advancements that have enabled minimally invasive surgeries. According to a report published by Fortune Business Insights, titled “Surgical Robots: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 1,463.0 Mn in 2018. Fortune Business Insights predicts that the market will reach 6,875.1 Mn by 2026, thereby exhibiting a CAGR of 21.4% during the forecast period.

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Fortune Business Insights profiles a few of the companies operating in the global surgical robots market. Some of the leading companies that are operating in the market are

  • Intuitive Surgical Inc.,
  • Medtronic,
  • Stryker,
  • Smith & Nephew
  • Zimmer Biomet.

Minimally Invasive Robot-sssisted Surgeries Will Favor Market Growth

Recent technological advancements have enabled surgical operations through robots wherein the efficiency and time-to-completion have been unmatched by their human counterparts. The advent of minimally invasive surgical procedures due to rising demand for imaging techniques through infrared technology have led to a rising uptake of surgical robots across the world. In April 2019, the Vanderbilt Institute for Surgery and Engineering (VISE) received a grant of an approximate US$ 2 Mn for the development of a surgical robot within a minimally invasive environment.

The project revolved around prostate surgeries and would include operations through needle sized robotic arms. Fortune Business Insights predicts that increasing adoption of minimally invasive surgeries through surgical robots will minimize the use of surgical stitches, thereby creating a huge demand among surgeons as well as end users across the world. The report studies the impact of product launches similar to VISE’s latest surgical robot and gauges the impact of these products on the global surgical robots market.

Rising Regulatory Approvals Identified as Chief Growth Driver

As surgical robots are essentially dealing with sensitive parts of the body, regulatory authorities are somewhat reluctant to clear the products for usage. Having said that, recent advancements in surgical robots and the advent of high precision products have churned out several regulatory clearances. Subsequently, increasing regulatory approvals will favor the growth of the global surgical robots market. In 2019, Zimmer Biomet received clearance from the Food and Drug Administration (FDA) for the usage of its latest product ‘Rosa One Brain Application’. The system allows surgical navigation and positioning for operations related to neurological body parts, wherein extreme precision methods are required. Fortune Business Insights predicts that advancements in neurological surgeries will account for significant amount of growth of the global surgical robots market.

Segmentation

By Application

  • General Surgery
  • Gynecology
  • Urology
  • Orthopedics
  • Others

By End-User

  • Hospitals
  • Ambulatory Surgery Centers
  • Others

By Geography

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Rest of World

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