Surgical Robots Market Trends and Challenges 2021: Supporting Growth, Impact of Covid-19, Industry Demand, Top Players Strategy, Size-Share Estimation and Forecast Report till 2030

(Heraldkeepers via Comtex)

Report Ocean publicize new report on the surgical robots market. The surgical robots market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the surgical robots market growth. Additionally, the database analyzes and estimates the surgical robots market both globally and regionally.

The global surgical robots market size was valued at USD 2.7 billion in 2021 and is expected to reach US$ 16.1 billion by 2030. The market would grow at a compound annual growth rate (CAGR) of 21.3% during the forecast period from 2022-2030.

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Factors Influencing

Technological advancements in the medical industry are the primary factor driving the growth of the global surgical robots market.

Increasing healthcare expenditure, growing investment for research and development are propelling the growth of the global surgical robots market. Mazor Robotics expanded its portfolio by introducing Mazor X in 2016.

The increasing prevalence of neurological and orthopedic disorders is forecast to fuel the market growth. Moreover, the rising rate of the geriatric population is forecast to offer favorable growth opportunities for the market players in the surgical robots market.

Due to the benefits of robotic surgery, such as enhanced visual field and reach to inaccessible places, healthcare bodies are adopting robotic surgery methods. Patients also prefer these methods because of advantages like shorter hospital stays, assurance, and lesser pain. Therefore, the demand for surgical robots is forecast to increase in the coming years. Robotic surgery reduces the risk of post-surgery infection by creating a smaller incision than the conventional surgery methods. Thus, the demand for surgical robots would increase during the study time frame.

The high cost associated with the surgical robots may hamper the global surgical robots market in the coming years.

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Geographic Analysis

Regionally, North America holds the largest share in the global surgical robots market and is forecast to remain dominant during the forecast years. The growth of the region is predicted due to the early adoption of advanced technologies, increasing technological advancements, and the existence of some prominent players like Stryker Corporation, Accuray Incorporated. Moreover, the growth of automation, mainly in the United States, is forecast to fuel the market growth.

Asia-Pacific is forecast to register a significant growth rate by the end of the forecast period. After the United States and Europe, the Asia Pacific surgical robots market would record the highest CAGR, mainly due to the developing infrastructure, growing investment in the healthcare sector, and the presence of a large number of private healthcare providers.

COVID-19 Impact Analysis

The global surgical robots market witnessed a significant decline mainly because of the COVID-19 pandemic. The priority of the healthcare sector shifted towards treating the COVID-19 affected patients. As a result, various surgeries were postponed during the initial phase of the pandemic. However, the market would grow at the same pace because the development of the healthcare sector has become mandatory after the COVID-19 epidemic. Governments of various countries are investing in the growth of the healthcare sector. Thus, it would offer lucrative opportunities to the market players in the global surgical robots market.

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Competitors in The Market

Stryker Corporation

Mazor Robotics Inc., (Acquired by Medtronic plc)

Medtech SA (Acquired by Zimmer Biomet)

Accuray Incorporated

Smith & Nephew Plc

Renishaw Plc

Auris Health, Inc. (Acquired by Johnson & Johnson)

Medrobotics Corporation

Varian Medical Systems

Stereotaxis, Inc.

Titan Medical Inc.

Think Surgical Inc.

TransEnterix, Inc.

Other prominent players

Market Segmentation

Insight by Component

Robotic Systems

Instruments

Accessories

Services

Insight by Application

General Surgery

Gynecological Surgery

Orthopedic Surgery

Cardiology

Neurology

Others

Insight by End-User

Hospitals

Ambulatory Surgical Centers

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Insight by Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

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Key questions answered in the surgical robots market report are:

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the surgical robots market market over the forecast period?

What are the factors driving and restraining the market for surgical robots market?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?

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