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Robotic Surgery Devices Market By Component (Systems, Instruments & Accessories) By Surgery Type (Gynecology surgery, Neurosurgery, Others) By End-User (Gynecology surgery, Neurosurgery, Others) Regional Analysis & Forecast - 2026

  • OI-108
  • |
  • Published date: May, 2019
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  • Life Sciences & Healthcare
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  • 120 Pages

Robotic surgery is known as a type of minimally invasive surgery that utilizes robotics to perform surgical procedures. These robotic surgery systems are operated by surgeons and consist of miniaturized surgical instruments that are mounted on robotic arms, thereby allowing surgeons to perform the surgeries precisely. The surgery field is witnessing a period of great change because of phenomenal recent advances in surgical and computer technology. Robotic surgery could revolutionize treatment by providing precise, stable, and dexterous assistance to human surgeons. Robotic systems enable the specialists to robotize the surgical strategy, along these lines enhancing efficiency and precision during the action, and limiting post-surgical complexity.


Market Overview


The Global Robotic Surgery Devices Market is expected to reach USD x billion by 2026 from USD x billion in 2018, at a CAGR of xx%. The main factors driving the growth of the robotic surgery market include an increase in adopting surgical robots by healthcare facilities, technological advancements being made in these robotic systems, which can be utilized for varied surgical procedures. Robotics based surgery is now at the cutting edge of precision in the surgery realm. This is due to the phenomenal advancement in the medical devices made since a few decades.


Integrated Surgical Supplies Ltd., ROBODOC was the first surgical robot that was FDA approved in August 2008. It was primarily used to place the femur, with better precision, in hip replacement surgeries, now it has been used in more than 28000 joint replacement procedures. Similarly, several other robotic systems such as the AESOP system (a voice-controlled robotic endoscope), Da Vinci, and Zeus have been approved by the FDA. Stryker by acquiring MAKO Surgical Corp. had made a major strategic move, which was a pioneer in the advancing robotic arm assisted surgery in orthopedics. This has led to a more predictable surgical experience in performing joint replacement surgery and making Stryker as a key innovator in Robotics surgery Market. In 2017, Stryker received US FDA approval for its cementless Mako Total Knee with Triathlon Tritanium. Nevertheless, Intuitive Surgical, Inc., is a world-class manufacturer of robotic surgical systems. Globally, the da Vinci Surgical System offered by the company is the most preferred system. Newly in 2017, the company has got approval for novel da Vinci X Surgical System that provides a lower-cost, robotic-assisted surgical option for hospitals, surgeons, sustaining its dominance in the market. In 2018, Intuitive Surgical announced the launch of Single Port Platform. This system is indicated for urologic surgical procedures that are appropriate for a single port approach. In Jan 2019, the U.S. Food and Drug Administration (FDA) has issued a warning against the usage of surgical robots in mastectomies and other surgeries for the treatment or prevention of cancer.


However, the high cost associated with robotic surgeries & robotic systems is hampering the robotic surgery market. In addition, the rise in death toll and injuries due to robotic surgeries will also impede the growth of the robotic surgery market. Further, untapped economies such as Brazil, India, China, and other developing economies will create lucrative opportunities in the surgical robotics market. There found a lot of negative publicity regarding the usage of robotic systems in surgeries. Efficacy and patient safety that is associated with robotic surgeries have been questioned many times in statements by public officials and their concerns, which may hinder the global acceptance of robotic surgical systems. This may, in effect result in decreased product demand and a decline in sales revenue. In addition, it could also lead to an increase in the number of product liability claims, irrespective of whether they are relevant.


Key Developments



  • In March 2019, Intuitive Surgical Inc. announced that it had received clearance for the da Vinci SP® surgical system for using in certain transoral otolaryngology procedures in adults. The FDA cleared the single port approach for lateral oropharyngectomy procedures (commonly referred to as radical tonsillectomy) and tongue base resection.

  • In Feb 2019, Intuitive Surgical Inc. announced that the U.S. Food and Drug Administration (FDA) cleared the Ion™ endoluminal system to enable minimally invasive biopsy in the peripheral lung.

  • In Dec 2018, Medtronic plc announced that it had completed the acquisition of Israel-based Mazor Robotics. Medtronic's acquisition of Mazor ranks among the largest orthopedic deals completed in 2018.


Segmentation


The Global Robotic Surgery Devices Market is segmented on the basis of the component, surgery type, and region.


On the basis of component: Systems, Instruments & Accessories, and Services.


The instruments & accessories segment is expected to have the largest share of the market in 2018 and is also anticipated to grow at the high CAGR due to the increasing volume of robotic procedures that are performed worldwide and growing demand of instruments & accessories due to their recurring need per procedure. Additionally, services are expected to be the fastest growing segment owing to the rise in robot-assisted surgeries globally due to the increase in geriatric population and chronic diseases such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases.


Based on surgery type: Gynecology surgery, Neurosurgery, Orthopedic Surgery, Urology surgery, General surgery, and other surgeries.


Orthopedic surgery is going to hold a dominant position in the market is owing to the rise in orthopedic injuries globally. The general surgery segment is expected to have the largest share of the market in 2018 and is anticipated to have the highest CAGR due to the rising application of surgical robots for various surgery types such as bariatric surgery, Heller myotomy, hernia repair, cholecystectomy, gastrectomy, transoral surgery, and pancreatectomy as well as increase in procedural volume across the globe under the general surgery category.


Based on end user: Hospitals and Ambulatory surgical centers.


The hospital's segment is projected to have the largest share of the market in 2018 and is anticipated to grow at high CAGR due to factors like availability of large funds with the hospitals and increase in adoption of surgical robots for performing various types of surgical procedures.


Region wise: North America, Europe, Asia-Pacific, and LAMEA.


North America is projected to dominate the robotic surgery market in 2018, while the Asia Pacific region is estimated to register the highest CAGR during the forecast period due to the factors like western partnerships for improving healthcare, development of surgical robots by domestic manufacturers, and multiple collaborations of the government with regional universities for research and development purpose.


The key players operating in the Robotic Surgery Devices Market are Stryker (US), Intuitive Surgical (US), and Mazor Robotics (US). Other industry players involved in this market are TransEnterix (US), Smith & Nephew (UK), Medrobotics (US), Hansen Medical (US), Renishaw (UK), MedTech (France) and Think Surgical (US).

The report covers in-depth analysis of the Global Robotic Surgery Devices Market. The report assesses the market products pipeline by stage of development (early development, pre-clinical, clinical and in approval), by application (Gynecology surgery, Neurosurgery, Orthopedic Surgery, Urology surgery, General surgery, and others). In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.


The report includes in-depth company profiles of key players in the Global Robotic Surgery Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.


The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.


Scope:



  • Provides detailed analysis of the market structure along with the forecast of the various segments and sub-segments of the Global Robotic Surgery Devices Market.

  • Provides a comparative analysis of key marketed and pipeline products

  • Provides key information on players involved in the Global Robotic Surgery Devices Market.

  • Provides a complete overview of market segments and the regional outlook of the Global Robotic Surgery Devices Market.

  • Provides in-depth coverage of key news related to Global Robotic Surgery Devices Market, including major mergers and acquisitions and product development updates such as clinical trial progression updates and regulatory updates

Our research works on a holistic 360° approach to deliver high quality, validated and reliable information in our market reports. Market estimation and forecasting involve the following steps:




  • Data Collation (Primary & Secondary)




  • In-house Estimation (Based on proprietary databases and Models)




  • Market Triangulation




  • Forecasting




  • Market-related information is assembled from both primary and secondary sources.








  • Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services. 








  • Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others. 







  • Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. 



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