Surgical Robots Market 2023 Size, Share, Revenue Trends and Growth Drivers
The Surgical Robots Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Global surgical robots market size stood at USD 1,463.0 million in 2018 and is projected to reach USD 6,875.1 million by 2026, exhibiting a CAGR of 21.4% between 2018 and 2026. Surgery has evolved from open-surgery to robotic surgery. Surgical robots can perform complex procedures with geometrical precision, even in anatomical areas that are difficult to reach by human surgeons. This is resulting in increased demand and adoption of the minimally invasive surgeries is one of the key drivers for the growth of the surgical robots market. Surgical Robots Market Size, Share and Industry Analysis By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Regional Forecast, 2019 – 2026
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Market Growth Drivers:
Recently, Intuitive Surgical Inc. received U.S. Food and Drug Administration approval for its Ion system. The robotic endoluminal system is designed to permit doctors to conduct minimally invasive biopsies deep within the lung. The development of procedure-specific robotic system is one of the major factor driving the growth of the market. The increasing preference of minimally invasive robotic-assisted surgery is one of the factors anticipated to drive the surgical robots market growth. Additionally, the increasing adoption and demand for surgical robots by medical professionals is expected to propel the growth of the market during the forecast period. However, the high cost of installation and lack of skilled professional are some of the factors that are likely to restrain this market’s growth to an extent.
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Who are the Major Surgical Robots Market Vendors?
- Intuitive Surgical Inc.
- Smith & Nephew
- Zimmer Biomet
- TransEnterix Surgical, Inc.
- Verb Surgical, Inc.
- THINK Surgical, Inc.
- Other Prominent Players
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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