The surgical robots market size was valued at US$ 6.2 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.2% from 2020 to 2028
Global Surgical Robots Market, By Product and Services (Robotic systems, Instruments & Accessories, Services), By Application (Gynecological Surgery, Urological Surgery, Neurosurgery, Orthopedic Surgery, General Surgery, Other Applications), By End-User (Hospitals and Ambulatory Surgery Centers), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The surgical robots market size was valued at US$ 6.2 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.2% from 2020 to 2028.
In the modern age, science and fiction became reality and the entire healthcare sector is innovated and transformed with modern equipment and methods. Robotic surgeries emerged and is around at the same time and ultimately, making a revolutionary step in enhancing surgical procedures.
Surgical robots can be perceived as a machinery that carry out complicated surgical tasks in a leader-follower configuration system. It carries the potential to perform complex operations with analytical precision, even in those structural areas where human surgeons are not able to reach. Attributing to which, the surgical robots is estimated to observe massive demand among the global markets.
As a matter of fact, robots are not as young as the surgical robots as they have been around for a great deal of time, but only recently have these smart machines arrived in the healthcare field. This transformation can be accredited to the fresh progresses in technology that have paved its way to more stability, and thus comprehensive acceptance by the general population as well as the medical populace.
The rising awareness and faith among the population with regard to surgical robots is majorly expected to boost the growth of the global surgical robots market in the forthcoming years. In addition to that, the presumption that “a big surgery requires a big precision” is gone long, as nowadays, the minimal invasive surgeries are gaining huge traction in the healthcare industry.
In association with minimal invasive surgery, surgical robots are proven efficient where better accuracy and improved precision were needed, which further positively fueled the demand of surgical robots among the global markets. Attributing to which, the global surgical robots market is anticipated to grow significantly over the forecast period.
On top of that, there is plenty of support and funding from the governments and regulatory authorities across the world regarding the surgical robots and other research and development activities which further plays a crucial role in accelerating the growth of the global surgical robots market in the years to come.
Although in spite of achieving huge popularity across the globe, surgical robots bear the equal risks as those related with conventional open surgeries like the possibilities of infection and other errors. By the same token, the risk of mechanical failures during the ongoing process of surgery is another additional risk, which is likely to curb the demand of surgical robots in the coming years.
MMC Study identifies some of the key participating players in the surgical robots market globally are Intuitive Surgical, Stryker and Mazor Robotics, Smith & Nephew, Hansen Medical, Medrobotics, TransEnterix, Medtech, Renishaw, and THINK Surgical, among others.
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