Major players in the robotic surgery devices market are Intuitive Surgical, Stryker, Medtronic, Smith & Nephew, TransEnterix, Mazor Robotics, Medrobotics, Accuray, THINK Surgical, and TINAVI Medical Technology Co.
New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Robotic Surgery Devices Global Market Report 2022" - https://www.reportlinker.com/p06277178/?utm_source=GNW
The global robotic surgery devices market is expected to grow from $5.21 billion in 2021 to $6 billion in 2022 at a compound annual growth rate (CAGR) of 15.2%. The market is expected to grow to $10.17 billion in 2026 at a compound annual growth rate (CAGR) of 14.1%.
The robotic surgery devices market consists of sales of robotic systems, instruments, and accessories and services related to the robotic surgery devices market.Robotic surgery devices are advanced surgical devices compared to traditional laparoscopic surgery devices.
These devices are used for Minimally Invasive (MI) surgeries in the eye, brain, heart, and other parts of the body. The robotic surgery devices are more cost-effective and introduced to reduce complications, pain, reoperations, etc.
The main product and services in the robotic surgery devices market are robotic systems, instruments and accessories, and services.The services are provided by the robots and are also called robot-assisted surgery services.
The various surgery types are urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and others. These are used in hospitals and ambulatory surgery centers.
North America was the largest region in the robotic surgery devices market in 2021.Western Europe was the second largest market in robotic surgery devices market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rise in demand for minimally invasive technology is driving the robotic surgery devices market.Minimally Invasive (MI) surgery devices are equipped with imaging and catheter technologies that can be easily inserted into any part of the body.
Robotic surgery procedures are usually associated with minimally invasive surgeries.These technologies are mainly used for heart, laparoscopy, orthopedic, gynecological, and urological surgeries.
Robotic surgeries were introduced to reduce patient hospital length of stay (LOS), pain, complications, return to work time, and reoperations.According to the Intuitive Surgical company report, there is a 24% growth year on year for instruments and accessories.
For robotic systems, the company has gained 16% growth and the overall robotic surgery devices market is growing at a rate of 13% -16%. The Intuitive Surgical company estimates that more than 1.2 million surgical procedures were done by using their robotic systems. Consumer preferences are changing and hospitals are adopting robotic surgery devices to create more value and cost-effective surgical procedures.
Expensive robotic surgery is hampering the robotic surgery devices market.Robotic surgery is comparatively more expensive than other traditional ways of surgeries as it is associated with a lot of complications, requires highly trained senior doctors to operate robotic systems/instruments, complex technical operations, and maintenance.
A single robotic system costs around $2 million and the surgery costs about a range of $3000 - $6000.The annual maintenance cost of robotic surgery devices usually costs between $100,000 - $170,000.
The largest robotic surgery device manufacturer Intuitive Surgical supplies the single-use or disposable surgical tools used for robotic arms for surgeries.This is one of the reasons that robotic surgeries are more costly.
The huge cost associated with robotic surgeries is therefore hindering the market growth.
The advances in surgical products and technologies in the health care industry are creating more opportunities in the robotic surgery devices market.Increasing investments in R&D is helping investors to create value for the customers by producing medical-surgical products like robotic surgery devices by using the latest technologies.
With the use of robotic systems that are equipped with optical imaging, surgical tools, instruments, and accessories, the surgeries are made easier.Some of the surgical advances that are creating more value and opportunity in the healthcare industry include 3-D high definition endoscope (Multi-Angle Rear-Viewing Endoscopic tool) devices for Brain surgery, Smart surgical glasses (equipped with a video camera and Head-mounted monitor) that act like computers, and can use for live observation of surgeries, surgical robots with artificial intelligence that acts as doctors, and humanoid robots which are used for highly critical surgeries in eye and brain.
The other advanced surgical tool is remote robotics, which is used to assist with surgery from any remote location. Therefore, robotic surgery devices are playing an important role in the healthcare industry with their technological advancements and innovations.
In July 2019, Intuitive Surgical Inc., an American corporation that develops, manufactures, and markets robotic products, acquired Schölly Fiberoptic’s robotic endoscope business. Schölly Fiberoptic is a major player in the visualization systems for Minimally Invasive (MI) diagnostic and surgical applications. This acquisition integrated Schölly’s robotic endoscope manufacturing line, and two Schölly sites into some of the Intuitive operations which are the robotic-related manufacturing line from Denzlingen (Germany), the manufacturing site in Biebertal (Germany), and the repair site in Worcester, Mass (USA). The acquisition’s main aim is to strengthen Intuitive’s supply chain and increase its manufacturing capacity for visualization products to advance healthcare.
The countries covered in the robotic surgery devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and USA.
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