(MENAFN- America News Hour) In a recently published report, Surgical Robots Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Surgical Robots Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global surgical robots market is valued approximately USD 3.6 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 10.4 % over the forecast period 2018-2025. Technological advancements in surgical robots and increasing need for automation in healthcare industry are some key trends that are responsible for the wide adoption of surgical robots globally.
Global surgical robots market is majorly driven by increasing funding for surgical robot researchers. According to the American Society of Colon and Rectal Surgeons (ASCRS) in 2018, the research foundation of the ASCRS has raised funds to support research an educational program related to rectal and colon diseases. Also, the Research Foundation has awarded over 120 grants around $4 million to colorectal researchers to investigate and develop a broad spectrum of colorectal diseases and develop novel robot surgical techniques for colorectal surgery patients. Through this funding, research in Robotic Surgical Technology Grant offers an opportunity to track research interest, specifically in robotic surgical technology in the field of rectal and colon surgery. As a result, the demand & adoption of surgical robots would increase thereby, aiding the growth of the market over the forecast period of 2018-2025.
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However, high cost associated with surgical robotic procedures and increase in injuries are major factors that impede the growth of the surgical robots market over the forecast period.
On the basis of segmentation, the surgical robots market is segmented into component, application and end-user. The component segment of global surgical robots market is classified into instruments & accessories, robotic systems and services of which instruments and accessories is anticipated to grow at the highest rate owing to the increased demand for consumables due to their disposable nature. Based on application segment, the global surgical robots market is classified into general surgery, gynecological surgery, orthopedic surgery urological surgery and neurosurgery of which general surgery is expected to grow with highest CAGR owing to the as surgical robots are widely used in general surgeries. The end-user segment includes hospitals and ambulatory surgical centers of which hospitals accounts for the largest contributing segment as hospitals are using these surgical robots specifically for procedures such as hysterectomy, prostatectomy, hernia repair, colon, cholecystectomy, rectal procedures, sacrocolpopexy, mitral valve repair, nephrectomy, and transoral robotic surgery.
The regional analysis of surgical robots market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global Surgical Robots market. Various significant reasons for the dominance of North America are increasing adoption of surgical robots, development of advanced surgical robot technology and government initiatives promoting surgical robots. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to collaboration of the government with regional universities for research and development purpose along with the improving healthcare infrastructure.
The leading market players mainly include-
*Intuitive Surgical
*Stryker
*Mazor Robotics
*Smith & Nephew
*Renishaw
*Medrobotics
*Transenterix
*Think Surgical (Subsidiary of Curexo Technology)
*MedTech
*Hansen Medical
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component:
*Instruments & Accessories
*Robotic Systems
*Services
By Application:
*General Surgery
*Gynecological Surgery
*Orthopaedic Surgery
*Urological Surgery
*Neurosurgery
By End-user:
*Hospitals
*Ambulatory Surgical Centres
By Regions:
*North America
o U.S.
o Canada
*Europe
o UK
o Germany
o ROE
*Asia Pacific
o China
o India
o Japan
o ROAPEC
*LAMEA
o Brazil
o Mexico
*ROW
o Middle East & Africa
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Surgical Robots Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Venture capitalists
*Value-Added Resellers (VARs)
*Third-party knowledge providers
*Investment bankers
*Investors
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