The Global Robotic Surgical Devices Market to Reach Revenues of Around $8 Billion by 2024- Market Research Report by Arizton

CHICAGO, Sept. 18, 2019 /PRNewswire/ — According to Arizton‘s recent research report Robotic Surgical Devices Market – Global Outlook and Forecast2019-2024, owing to increasing demand for minimally invasive surgical procedures which include video-assisted and robotic techniques, the global robotic surgical devices market is expected to grow at a CAGR of close to 17% during the forecast period.

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Key Highlights Offered in the Report:

  1. Robotic surgical devices are one of the fastest-growing segments of the global medical device industry, growing at a double-digit CAGR. The market is likely to grow at an absolute growth of around 153% and will witness an incremental growth of around $5,304 million during the forecast period.
  2. The demand for Minimally Invasive (MI) surgical techniques, especially for robotic-assisted procedures, is increasing at a phenomenal rate as they are clinically proven with high safety and efficacy.
  3. As the market potential of robotic surgical devices is high, multinational corporations are entering the market through strategic acquisitions. Large and diversified medical device companies such as Medtronic, Stryker, Zimmer Biomet, and Johnson & Johnson have entered the market by acquiring notable players engaged in the development and commercialization of robust robotic surgical platforms and devices. 
  4. Players such as Intuitive Surgical, Medtronic, Stryker, Titan Medical, Medtronic, Microbot Medical, Verb Surgical, Curexo, and Zimmer Biomet have promising and breakthrough investigational robotic devices, which are likely to receive approvals from regulatory bodies during the forecast period. 
  5. The adoption of robotic surgical devices for general surgeries such as bariatric surgery, hernia repair, cholecystectomy, and colorectal surgeries is increasing at a phenomenal rate and is likely to witness an incremental growth of around $2,670 million during the forecast period.
  6. The US is the major revenue contributor to the global robotic surgical devices market and accounted for a share of more than 65% in 2018.

Key Offerings:

  • Market Size & Forecast by Revenue| 2018−2024
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis of the market by products, end-users, application, and geography.
  • Competitive Landscape – Profile of 4 key vendors and 11 other vendors.

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Robotic Surgical Devices Market – Segmentation

  • The research report includes detailed market segmentation by products, end-users, application, and geography
  • The robotic surgical devices market is likely to grow at an impressive CAGR during the period 2018−2024. Innovations and technological advancements have led to the development of several next-generation robotic surgical systems.
  • In 2018, the urological surgeries application segment accounted for a share of over 27% of the global robotic surgical devices market. Robotic-assisted techniques have clinically proved to be a valuable treatment option for performing surgeries such as partial nephrectomy and prostatectomy, thereby gaining wider acceptance among patients.

Market Segmentation by Products

  • Robotic Surgical Systems
  • Instruments & Accessories

Market Segmentation by End-users

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)

Market Segmentation by Application

  • General Surgeries
  • Gynecological Surgeries
  • Urological Surgeries
  • Others

Market Segmentation by Geography

  • North America
  • Europe
  • MEA
  • APAC
  • Latin America

Robotic Surgical Devices Market– Dynamics

The growing acceptance and adoption of minimally invasive surgical techniques, including robotic-assisted ones in various healthcare settings is the major driver for the growth of the market. As healthcare settings are using a wide array of medical devices to treat several ailments and disorders through surgical interventions, the demand for technically advanced robotic surgical devices is likely to increase further in the coming years.

Key Drivers and Trends Fueling Market Growth:

  • Growing Usage of Robotic Platforms in Orthopedic Surgeries
  • Development of Promising Investigational Robotic Surgical Devices
  • New Product Approvals and Launches

Robotic Surgical Devices Market–Geography

The North American region is likely to witness an incremental growth of $3,920 million during the forecast period. North America is growing at the fastest rate than all other regions due to the growing preference for technologically advanced robotic surgical devices, the high penetration of robotic surgeries, and the presence of a large pool of skilled surgeons performing robotic surgeries. The presence of a large pool of patient population and the high awareness regarding the availability of robotic surgeries for treating many diseases/ailments are other major factors fueling the market growth.

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Market Segmentation by Geography

  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • UK
  • APAC
    • China
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Turkey
    • Saudi Arabia

Major Vendors

  • Intuitive Surgical
  • Stryker
  • Medtronic
  • TransEnterix

Other vendors include Auris Health, Curexo, Corindus Vascular Robotics, CMR Surgical, Meer Company, Medrobotics, Renishaw, Smith & Nephew, Stereotaxis, Tinavi, and Zimmer.

Explore our healthcare and life sciences profiles to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence

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