global surgical robotics market is anticipated to grow with a robust CAGR of 10.2% during the forecast period, 2021-2031

Global Surgical Robotics Market to Reach $16. 77 Billion by 2031. Market Report Coverage - Surgical Robotics Market Segmentation. • Product Type: Surgical Systems, Instruments & Accessories, and Services.

New York, May 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Surgical Robotics Market: Focus on Vendor Analysis, Key Enabling Technologies, Emerging Platforms in Pipeline, 26 Company Profiles, and 45 Countries Data & Cross Segmentation - Analysis and Forecast, 2021-2031" - https://www.reportlinker.com/p06067445/?utm_source=GNW
• Application: General Surgery, Urology Surgery, Gynecology Surgery, Orthopedic Surgery, Cardiology Surgery, Head & Neck Surgery, and Others
• End-User: Hospitals, Ambulatory Surgical Centers, and Specialty Clinics

Regional Segmentation

• North America: U.S. and Canada
• Europe: Germany, U.K, France, Italy, Spain, Turkey, Russia, Belgium, Switzerland, Sweden, Netherlands, Denmark, Norway, Finland, Austria, Ireland, Rest-of-Europe
• Asia-Pacific: Japan, China, India, South Korea, Australia & New Zealand, Taiwan, Thailand, Malaysia, Singapore, Indonesia, and Philippines
• Latin America: Brazil, Mexico, Argentina, Chile, Venezuela, Colombia, Puerto Rico, Panama, and Uruguay
• Rest-of-the-World: Kingdom of Saudi Arabia, Israel, Qatar, Pakistan, Kuwait, Egypt, and Lebanon

Growth Drivers

• Rising Incidence of Chronic Disorders Inciting the Use of Robotic-Assisted Surgical Procedures
• Elevating Geriatric Population Changing the Adoption Patten for Minimally Invasive Surgical Procedures
• Rising Demand of Minimally Invasive Surgical Procedures Signifies the Need for Robotic-Assisted Surgeries
• Technological Advancement in the Field of Medical Surgeries

Market Restraints

• High Cost of Surgical Robotic Systems and its Associated Procedures
• Shortage of Skilled Professionals
• Restrictive Reimbursement Landscape

Market Opportunities

• Development of Low-Cost Surgical Robotic Systems
• Implementation of Artificial Intelligence (AI) in Surgical Robots
• Development of Surgical Simulators for the Training of Professionals

Market Trednds

• Operating Lease Programs Implemented by the Surgical Robotic Manufacturers

Key Companies Profiled

Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.

Key Questions Answered in this Report:
• What are the major market drivers, challenges, and opportunities in the global surgical robotics market?
• What are the underlying structures resulting in the emerging trends within the surgical robotics industry?
• What was the market value of the leading segments of the global surgical robotics market in 2020?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2021-2031?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What is the current market share of each of the companies in the global surgical robotics market and what will be their contributions in 2030?
• What is the growth potential of surgical robotics in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• What was the total installed base and unit sold by country in 2020?

Overview of the Global Surgical Robotics Market

The global surgical robotics market is anticipated to witness tremendous growth over the forecast period primarily due to the increasing prevalence rate of chronic disorders, elevating global population coupled with the geriatric population, improving reimbursement policies, and public initiatives and funding to develop technologically advanced products. The market for surgical robotics (product type) is divided into three segments, namely, surgical systems, instruments & accessories, and services.

Surgical robotic systems primarily include surgical systems (capital equipment), instruments & accessories, and services (maintenance and up-gradation).In the past decade, the definition of these advanced technologies has expanded, involving the use of these systems for multiple surgical procedures ranging from general surgeries to orthopedic surgeries.

The ongoing trend of rising demand for surgical robotic systems is anticipated to continue in the future with the implementation of technological innovations and advancements in minimally invasive surgical procedures.

Global Surgical Robotics Market Forecast

The global surgical robotics market is anticipated to grow with a robust CAGR of 10.2% during the forecast period, 2021-2031. The market for surgical robotics generated $5.46 billion in 2020, in terms of value and is estimated to reach $16.77 billion by 2031.

Competitive Landscape

The total market was valued at $5,460.5 million in 2020 with Intuitive Surgical, Inc. dominating the global surgical robotics market by holding 79.82% of the market share in 2020. This market dominance was attributed to the company’s presence within the market and huge market penetration in different regions. Currently, the company offers its fourth generational surgical robotic platforms, first commercialized in 2014 (da Vinci Xi Surgical System). Stryker Corporation was responsible for 9.09% of the global market share in 2020, second only to Intuitive Surgical, Inc. BIS Research anticipates that Intuitive Surgical will hold nearly 52.06% of the total market by the end of 2031.

In the past four years, i.e., (January 2017 to March 2021), the market has witnessed approximately 85 regulatory and legal developments, 56 funding activities, 51 partnerships, alliances, and business expansions, 15 mergers and acquisitions, and nine product offerings and upgradations. Currently, most market players are involved in conducting regulatory and legal activities in the market, as is evident from the shares of funding activities and new offerings. There is a potential for mergers and acquisitions activities in the future as more and more start-ups enter the market targeting specific surgical applications and key players of the conventional surgical robotics market look to consolidate.

Surgical robotics market has a promising outlook, and successful start-ups may enter into merger agreements with the well-established players in the market. Strategic agreements such as partnerships, alliances, and business expansion hold the largest share, followed by mergers acquisitions, and product launches activities.

The key players contributing to the global surgical market are Asensus Surgical, Inc., avatera medical GmbH, CMR Surgical Limited, Corin Group, Curexo, Inc., Globus Medical, Inc., Intuitive Surgical, Inc., Johnson & Johnson, Medicaroid Corporation, Medrobotics Corporation, Medtronic plc, meerecompany, Inc., Monteris Medical Corporation, Neocis, Inc., PROCEPT BioRobotics Corporation, Renishaw plc, Siemens Healthineers AG, Smith & Nephew plc, Stereotaxis, Inc., Stryker Corporation, THINK Surgical, Inc., Titan Medical, Inc., Venus Concept, Inc., Vicarious Surgical, Inc., Virtual Incision Corporation, and Zimmer Biomet Holdings, Inc.

Countries Covered
• North America
• U.S.
• Canada
• Europe
• Germany
• Italy
• France
• Spain
• U.K.
• Turkey
• Russia
• Belgium
• Switzerland
• Sweden
• Netherlands
• Denmark
• Norway
• Finland
• Austria
• Ireland
• Rest-of-Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia and New Zealand (ANZ)
• Taiwan
• Thailand
• Malaysia
• Singapore
• Indonesia
• Philippines
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Venezuela
• Colombia
• Puerto Rico
• Panama
• Uruguay
• Rest-of-the-World
• Kingdom of Saudi Arabia (KSA)
• Israel
• Qatar
• Pakistan
• Kuwait
• Egypt
• Lebanon
Read the full report: https://www.reportlinker.com/p06067445/?utm_source=GNW

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