Global Robotic Surgery Market to Witness Growth by a CAGR of ~12% throughout 2022 – 2031
Research Nester published a report titled “Robotic Surgery Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global robotic surgery market in terms of market segmentation by component, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global robotic surgery market is estimated to occupy a sizeable revenue by growing at a CAGR of ~12% during the forecast period, i.e., 2022 – 2031, ascribing to the rising healthcare spending, and rise in private and venture funding for medical robot research. Along with this, ability of surgical robots to provide minimally invasive procedures with minimal blood loss, less pain, faster recovery, and increasing penetration of surgical robots in ambulatory surgical centers are also expected to accelerate the growth of the market in the forthcoming years.
The market is segmented by component, application and end user. Based on application, the urology segment is anticipated to acquire the largest share during the forecast period on the back of the growing number of prostatectomy procedures performed across the globe. Additionally, by end user, the hospitals segment is projected to grab the largest share over the forecast period attributing to the availability of advanced infrastructure and highly-trained professional surgical teams in hospital facilities all around the world.
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Geographically, the global robotic surgery market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period, which can be attributed to the surging demand for surgical robots in China and India. In addition, escalating advancements in surgical systems is also predicted to boost the market growth in the region. Moreover, the market in Europe is assessed to acquire the largest share over the forecast period ascribing to the presence of favorable reimbursement policies in public funded hospitals in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Healthcare Spending Around the World to Accelerate Market Growth
The World Health Organization reported that the global spending on health reached a value USD 2.3 trillion, or 10% of the global GDP in the year 2018.
With the rapidly growing healthcare spending, governments across the world are also emphasizing on allocating budgets for technological developments in the medical sector, such as robotic surgeries. This can be credited to the high requirement for minimally invasive procedures by patients globally, which in turn is anticipated to drive significant market growth in the near future.
However, high cost of robotic systems is expected to operate as key restraint to the growth of the global robotic surgery market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global robotic surgery market which includes company profiling of Accuracy Inc., Intuitive Surgical, Inc., Auris Surgical Robotics, Medtech SA, Stryker Corporation, Medtronic plc, Renishaw plc., Mazor Robotics, TransEnterix Surgical, Inc., Smith & Nephew plc, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global robotic surgery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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