Rising incidence of colorectal cancer, neurological disorders, interventional cardiology disorders, and gynaecological diseases, growing geriatric population have helped in the establishment of the surgical robotics market, and has garnered active participation of the government and the industry players for the adoption of surgical robotics, which in turn have boosted the overall growth of the market. According to the market intelligence report by BIS Research titled, ’Global Surgical Robotics Market- Analysis and Forecast (2017-2025)’, the market is anticipated to reach $12.60 billion by the year 2025, registering a CAGR of 11.4% during the forecast period 2017-2025. This tremendous growth is attributed to the rising demands of minimally invasive surgeries, increasing rate of chronic diseases, general awareness regarding computer aided surgeries, rising disposable income, and introduction of technologically advanced systems, such as SurgiBot, Modus V, and Single Port Orifice Robotic Technology (SPORT), among others.
The surgical robotic systems enable the surgeon to use computer and software technology to control and move surgical instruments through one or more tiny incisions in the patient’s body for several surgical procedures. However, through non-invasive surgical robots it becomes easy to perform the surgeries. The major advantages of these systems include their ability to facilitate minimally invasive surgeries of the confined areas with maximum accuracy. Presently, high costs of robotic systems hinder the adoption of this system among the hospitals and ambulatory surgical centres. However, with technological innovation ad increasing demand for low cost surgical systems from end users, the price is likely to decrease in the forthcoming period.
This market is growing at a strong rate with great potential and sustainability. The market is expected to enjoy a pool of opportunities as the demand for minimally invasive cancer procedures is rising. Also, hospitals and clinics are extensively purchasing surgical robots to train their surgical teams. Despite the growing adoption rate of surgical robotics, there is still a large addressable market, such as in the U.S. alone there are more than 3,000 hospitals and 5,000 clinics without any robotic surgery program.
Over the years, various types of medical robots have emerged in the market such as surgical robotic systems, rehabilitation robotic systems, non-invasive radio surgery, and hospitals & pharmacy robotic systems. Currently, the surgical robotic segment accounts for the highest share of medical robotics and computer assisted surgery market, owing to factors such as their widespread adoption across various hospitals, recurrent sales of accessories for these systems and demand for highly efficient replaceable component. Further, the market players are actively involved in the research and development of more technologically advanced robotic surgical systems to enhance accuracy and specificity along with three-dimensional HD vision for clear and magnified view inside the patient’s body with improved dexterity and ergonomics.
BIS Healthcare has conducted an extensive research on the global surgical robotics market and compiled the observation and insight in this report. The market intelligence report aims at providing an in -depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.