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Surgical Robotic System Market Overview
Surgical robots perform robotic surgeries with the help of robotic arms, controlled by surgeons through computers. A robotically assisted surgical (RAS) device is a type of computer-assisted surgical system that enables the surgeon to use advanced software to control and move surgical instruments through one or more tiny incisions in the patient’s body (minimally invasive) for a variety of surgical procedures.
The surgical robotic system market on the basis of component is classified into console, from where the doctor controls the system, visualizes the 3D endoscopy image, and controls the movement of the device; bed side cart, which consists of three or four mechanical arms, a camera, and other surgical instruments; and separate cart, which consists of the supporting hardware and software components, such as electrosurgical unit, suction/irrigation pumps, and light source for the endoscope. Among these, the bed side cart category holds the largest share in the market. This is primarily due to the robotic machinery of the system, which is highly efficient in functioning and responsible for the surgery.
The surgical robotic system market in terms of application is categorized into coronary artery bypass surgeries; gallbladder removal; hip replacement; hysterectomy; total or partial kidney removal; mitral valve repair; and others. Among these applications, the coronary artery bypass surgeries category holds the largest share in the market due to the increase cases of chronic heart diseases and the graft surgeries.
The surgical robotic system market based on end users is categorized into hospitals and surgeon clinics. Hospitals hold the largest share in the market, primarily due to fact that major surgeries are only performed in the hospitals.
Among all regions, North America is expected to lead the global surgical robotic system market during the forecast period. The major factors driving the market include the presence of key manufacturers and high adoption of robotic systems for cardiovascular diagnostic and therapeutic procedures in hospitals and specialty clinics. Moreover, the provision of insurance facility for robotic surgeries in the region is supporting the growth of the market in North America.
Surgical Robotic System Market Dynamics
The digitization and robotization of medical instruments is the major trend witnessed in the surgical robotic system market. The surgical robotic technology is advancing at a rapid pace across the globe. The commercialization of surgical robotic systems has positively impacted the operational efficiency of hospitals, globally. Despite the high cost, these systems are increasingly being adopted, owing to their several advantages over conventional procedures. Thus, the digitization and robotization of cardiovascular medical procedures and instruments, including robotization of surgical procedures, can be viewed as a major trend in the market.
The increasing prevalence of chronic cardiovascular diseases, owing to sedentary lifestyle and age-related factors, is the major factor contributing toward the growth of the surgical robotic system market. Robotic systems are widely used for the treatment of nearly all types of cardiovascular diseases, with minimal invasion and pain. Moreover, the high precision of these systems in medical procedures encourages their adoption in medical infrastructure across the world.
Surgical Robotic System Market Competitive landscape
The global surgical robotic system market is consolidated in nature with the presence of several key players including and Stryker Corporation, Intuitive Surgical Inc., Auris Health Inc., Medtronic plc, FLIR Systems Inc., and Accuray Incorporated.
In recent years, major players operating in the surgical robotic system market have actively been engaged in acquisitions and other strategic measures to gain a competitive edge in the industry. For instance, in February 2020, Medtronic plc announced to acquire digital surgical tools provider Digital Surgery. The objective of this acquisition is to expand Medtronic Minimally Invasive Therapies Group’s surgical robotics business.
The major countries covered in this report for detailed market size analysis include the U.S., Canada, France, Germany, the U.K., Italy, Spain, Russia, the Netherlands, Japan, China, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, the U.A.E., and South Africa.