Surgical Robots Market report includes a range of inhibitors as well as driving forces of the market which are analyzed in both qualitative and quantitative approach so that readers and users get precise information and insights about Medical Devices industry. Here, market overview is given in terms of drivers, restraints, opportunities and challenges where each of this parameter is studied scrupulously. Surgical Robots Market research report is generated with the best and advanced tools of collecting, recording, estimating and analysing market data. Being a wide-ranging market research report, it is sure to help develop business in several ways.
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The study of Surgical Robots Market report helps businesses to define their own strategies about the development in the existing product, modifications to consider for the future product, sales, marketing, promotion and distribution of the product in the existing and new market. The research and analysis performed in this market report with faithful knowledge provides businesses clear idea of what is already available, what the market expects, the competitive environment, and what can be done to outshine the competitor. This Surgical Robots Market research report also helps businesses to understand the various drivers and restraints impacting the market during the forecast period.
Surgical Robots Market 2021 Scope by Product & Service (Instruments & Accessories, Systems, Service), Application, End-User – Analysis and Global Forecasts to 2026 The global surgical robots market is projected to reach USD 14.4 billion by 2026 from USD 6.4 billion in 2021, at a CAGR of 17.6% during the forecast period.
Some of the prominent players operating in the Surgical robots market are Intuitive Surgical (US), Stryker Corporation (US), Medtronic (Ireland), Smith & Nephew (UK), Zimmer Biomet (US), Asensus Surgical (Transenterix) (US), Corindus Vascular Robotics (US), Renishaw (UK), Auris Health (US), Medrobotics Corporation (US), Think Surgical (US), Verb Surgical (US), OMNIlife Science (US), CMR Surgical (US), Preceyes BV (Netherlands), China National Scientific Instruments And Materials Corporation (CSIMC) (China), Microsure (Netherlands), Titan Medical (Canada), avateramedicalGmbh (Germany) and Medicaroid Corporation (Japan).
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1 – 58%, Tier 2 – 21%, and Tier 3 – 21%
- By Designation: C-level – 25%, Director-level – 35%, and Others – 40%
- By Region: North America – 30%, Europe – 20%, APAC –35%, Rest of the World –15%
Surgical robots enable surgeons to carry out complex surgical procedures with greater precision. They are primarily used in gynecological, urological, orthopedic, general, neurosurgeries, and other minimally invasive surgeries. Growth in this market is primarily driven by the advantages of robotic-assisted surgery, technological advancements in surgical robots, the increasing adoption of surgical robots, and the increase in funding for medical robot research. On the other hand, the high cost of robotic systems is a key factor limiting market growth in the coming years.
Recurring purchase of instruments and accessories for robotic systems leads to the largest sharee of this segment in market.
Based on product & service, the surgical robots market is segmented into robotic systems, instruments & accessories, and services. The instruments & accessories segment commanded the largest share of 53.8% of the market in 2020. This segment is also expected to grow at the highest CAGR of 18.2% during the forecast period. The large share and high growth rate of this segment are mainly driven by the recurrent purchase of instruments & accessories instead of robotic systems, which are a one-time investment.
Hospitals account for the highest share in the market
Based on end users, the market is segmented into hospitals and ambulatory surgery centers. Hospitals commanded the largest share of 85.5% of the market in 2020. The high demand for surgical robots in hospitals is primarily driven by the higher budgets of hospitals as compared to ASCs since robotic systems are high-cost equipment.
Improved funding for R&D in surgical robots led to the largest market size of the North American region
North America dominated the surgical robots market, with a share of 63.6% in 2019, while the Asia Pacific region is expected to register the highest CAGR of 18.5% during the forecast period. The large share of the North American market can be attributed to the availability of funding for R&D in surgical robots in this region and the increasing adoption of surgical robots for pediatric surgeries in Canada and general surgery procedures in the US.
This report studies the Surgical robots market based on products and services, application, end user and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
The Surgical Robots Market report is the best to know the trends and opportunities in the Medical Devices industry. In this report, a number of aspects about the market research and analysis for the Medical Devices industry have been underlined. This report also endows with information, statistics, facts and figures which are very supportive for the companies to maximize or minimize the production of goods depending on the states of demand. With the competitive analysis of the major players in the market, the Surgical Robots Market report lends a hand to businesses in taking superior moves for improving their product and sales.
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