Surgical Robots Market Size Worth $ 13.7 Billion by 2027 at 17% CAGR – Report by Market Research Future (MRFR)

Surgical Robots Market Insights and Industry Analysis by Product Type (Instrument & Accessories, Robotic Systems and Services), By Application (Gynecologic Surgery, General Surgery, Cardiac Surgery, Urologic Surgery, Colorectal Surgery and Head and Neck Surgery), By Control Mechanism (Direct Telemanipulator and Computer Control) and By End User (Hospitals and Ambulatory Surgical Centers), Competitive Market Size, Share, Trends, and Forecast till 2027

New York ,US, June 28, 2021 (GLOBE NEWSWIRE) -- Surgical Robots Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Surgical Robots Market Information by Product Type, Application, Control Mechanism, End User, and Region - Forecast till 2027” the market is forecasted to reach USD 13.7 Billion by 2027 at 17% CAGR.

Market Scope:

Hospitals' ability to invest in surgical robots is expected to boost the global industry. The device can assist doctors in doing minimally invasive surgeries that allow patients to recover more quickly and easily than standard procedures. Surgical robots have undergone a paradigm shift in recent years, owing to improvements in 3D imaging, data recorders, data analytic systems, high-definition microscopic cameras, remote navigation technology systems, motion sensors, robotic controlled catheters, and other surgical accessories. Such developments aid in the development of fresh applications for existing platforms, as well as raising adoption and developing disruptive technologies that will help drive the industry forward in the near future.

Market Drivers:

One of the factors driving the surgical robots market growth is the increased number of knee and hip replacement surgeries due to the rising prevalence of arthritis, bone degenerative illnesses, osteoporosis, and related traumas. Some of the important reasons driving the growth are the increasing usage and acceptance of minimally invasive surgeries due to benefits such as shorter hospital stays and the launch of cost-effective and versatile surgical robots by new market participants. International players' rising penetration is having a beneficial impact on market growth. One of the major reasons assisting the market's expansion is the increasing number of approvals from regulatory organisations such as the FDA. Furthermore, the increased use of robot-assisted procedures such as hysterectomies, the growing number of robotic systems for surgical interventions, and continuous R&D for robotic surgical technologies are all contributing to the growth of the industry.

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Market Restraints:

During the review period, the surgical robots market would encounter challenges and restrictions due to high investments in acquiring these robots and limited acceptance. Surgical robotics market growth may potentially be hampered by risks connected with robotic-assisted procedures.

Competitive Landscape:

The notable key players in the surgical robot market are:

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COVID-19 Analysis:

The market for intelligent surgical robots is being fueled by lengthier waiting lists for surgeries due to a rise in the number of patients with diseases requiring surgical intervention. Another important issue driving the demand for surgical robots, particularly in this pandemic, is the scarcity of competent doctors who can do such specialized operations. The market for robot-assisted surgical systems is based on the idea that robots may execute sections of an operation independently, but under the supervision of a clinician who is present throughout the procedure. Before robots may be widely employed in hospitals, further expansion is required. High-tech expertise and the manufacturing industry's approach to achieving the best results are expected to play a key role in the development and implementation of surgical robots in future operating rooms.

Market Segmentation:

The surgical robots industry has been segmented into product type, application, end user, and control mechanism.

Based on the segment which is product type, the market is semgented into cardiac surgery, colorectal surgery, general surgery, gynecologic surgery, head and neck surgery, and urologic surgery.

The global market for surgical robots is segmented, based on application, into robotic systems, services, and instrument & accessories.

Furthermore, the market, on the basis of control mechanism, is divided into direct telemanipulator and computer control.

Based on the end users, the market is bifurcated on the basis of hospitals and ambulatory surgical centers.

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Regional Insights:

The Americas are expected to account for the majority of the global surgical robot market. The market is expected to be dominated by the North American region, owing to hospitals' increasing financial ability to invest in robotic systems, planned partnerships with other companies, increasing patient acceptance of surgical robots in medical practices leading to better healthcare outcomes, and a growing general understanding of computer-assisted surgeries.

Europe is expected to account for the second-largest market share throughout the projection period. The need for automation in the healthcare sector, as well as the growing need for minimally invasive operations and micro robotics, are driving market growth in this region.

Due to a large patient population, an increasing number of hospitals, and rapid technological advancements to support the development of the robotic surgery equipment industry, the Asia Pacific regional market is expected to be the fastest growing in the overall market. The growing use of robotic technologies in the region, as well as increased awareness of the benefits of robotic surgery, is likely to drive overall growth.

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