Surgical robotics offers several benefits such as shorter hospital stay, rapid recovery, less post-operative pain, and lower risk of infections than open surgery. All these patient benefits along with better decision-making ability and greater precision from the surgeon’s viewpoint have led to rapid adoption of robotic surgical systems. For instance, the installed base of the da Vinci surgical system introduced by Intuitive Surgical, Inc., a pioneer in robotic surgical systems, increased from 2,966 systems in 2013 to 4,409 systems by the end of 2017. Surgical robots are medical devices that improve surgical outcomes by eliminating or reducing disadvantages in traditional surgery. Surgical robotic systems have been widely used for minimal invasive surgeries in specialties such as gynecology, cosmetology, open surgery, laparoscopic procedures, and flexible endoscopic procedures.
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The global surgical robotics market is driven by technological advancements in the health care industry, increase in geriatric population, and high prevalence of movement-restricting medical conditions. Surge in health care costs, lack of skilled health care personnel, and rise in cost of labor are the other factors that have led to high demand for incorporation of lean operation methods in hospital management. However, high cost of surgical robots is a major factor restraining demand, especially in the developing markets. The growing trend of computer assisted or robotic minimally invasive surgery is expected to boost the growth of the surgical robotics market. Surgeons have adopted minimally invasive surgical (MIS) techniques for a wide range of applications such as cholecystectomy, appendectomy, prostatectomy, gastric bypass, ventral hernia repair, hysterectomy, colectomy, tubal ligation, and myomectomy. The number of cases of laparoscopic hysterectomy is projected to increase during the forecast period. About 96% of cholecystectomies is conducted laparoscopically. Hence, increase in acceptance and demand for surgical robots are expected to drive the global market.
The global surgical robotics market can be segmented based on product type, application, and region. In terms of product type, the market can be categorized into orthopedic robotic systems, neurosurgery robotic systems, general laparoscopy robotic systems, and steerable robotic catheters. Based on application, the global surgical robotics market can be divided into orthopedic surgery, interventional cardiology, general surgery, neurological surgery, urological surgery, and others.
In terms of region, the global surgical robotics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the global market in 2017 and the trend is anticipated to continue during the forecast period. Dominance of the region can be attributed to increase in adoption of robotic systems by hospitals, technological advancements, and rise in research and development on robotic systems for new applications. Moreover, better reimbursement policies and advanced health care infrastructure are the key drivers of the surgical robotics market in North America. Europe is also expected to account for significant market share owing to rise in prevalence of cancer and high demand for surgical robots for prostatectomy and hysterectomy surgeries, as these offer greater safety, accuracy, and precision. According to Cancer Research UK, between 2013 and 2015, over 360,000 new cancer cases were reported in the U.K. every year, which is nearly 990 per day. The surgical robotics market in Asia Pacific is likely to expand at a significant CAGR during the forecast period owing to surge in patient pool, rise in adoption of minimal invasive surgeries in the region, increase in research and developmental activities by surgical robotics manufacturers, and upcoming product approvals. According to the Wearable Robotics Association, there were over 2 million upper- and lower-extremity amputees in China in 2016. Also, more than 2.5 million new stroke cases are reported in the country each year. Furthermore, China is facing challenges due to the aging population. This is expected to create opportunities for prosthetics and exoskeleton robotics players in the surgical robotics market.
Key players operating in the global surgical robotics market are Intuitive Surgical, Inc., Accuray, Inc., Auris Surgical Robotics, TransEnterix, Inc., Think Surgical, Inc., Hansen Medical, Stryker Corporation, Smith & Nephew plc, Titan Medical, Inc., and Zimmer Biomet Holdings, Inc.
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