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.
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
Key Industry Developments
- In May 2018, Intuitive Surgical Inc., received FDA clearance in the United States for da Vinci X Surgical System. The da Vinci X System will offer urologic surgical procedures for a single port approach.
- In January 2018, 3D Systems and Stryker had a distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for the craniomaxillofacial specialty. This partnership will drive the availability of personalized surgical planning and techniques to healthcare professionals, saving both surgeons and patients hours in the operating room.
- In January 2019, Zimmer Biomet, received U.S. Food and Drug Administration clearance for the ROSA Knee System
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 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 and Zimmer Biomet.
Secondary Data Sources That We Refer To
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
Secondary Research Is Conducted To Derive The Following Information
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.