According to the latest market research study released by Technavio, the global robotic surgery market is expected to grow at a CAGR of more than 11% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global robotic surgery market based on product type:
Global robotic surgery market share by product type 2015
|
Instruments & accessories |
50.23% |
|
Robotic surgery systems |
30.27% |
|
Robotic surgery services |
19.50% |
Source: Technavio
Global robotic surgery market by instruments and accessories
The sales of instruments and accessories for robotic surgeries accounted for more than 50% of the global robotic surgery market during 2015. Instruments and accessories are used in conjunction with robotic systems during surgeries. Instruments include the mechanical arms that are used to perform surgery through tiny incisions. The cost of instruments and accessories amount to USD650 to USD3,500 per procedure, and most of them need to be replaced after every procedure.
“Emerging vendors in the market space for robotic surgeries are focusing on the development of a cost-effective robotic system. Low-cost surgical systems are manufactured by incorporating new type of motors that use ceramics or plastics rather than metal components. Besides, the use of plastics will eventually reduce their operational costs, making them more affordable. Manufacturers are also attempting to reduce the cost of sensors used in robotic surgical systems by developing smaller size components,” says Barath Palada, a lead analyst at Technavio for orthopedics and general medicine.
Global robotic surgery market by surgery systems
The growth of the global robotic surgery market by surgery systems accounted for more than 30% of the global market for robotic surgeries during 2015. Robotic surgical systems are computer-controlled devices that are used by surgeons to perform complex surgeries. Surgery systems assist surgeons in making small, precise instruments through which instruments can be introduced into the body. The global market for robotic surgery by surgical systems is likely to experience moderate growth during the forecast period due to growing concerns regarding the safety and presence of few approved products in the market.
Global robotic surgery market by services
Surgical systems require annual servicing to ensure optimal performance, sustained proficiency, and reduced morbidity. The growth of the global robotic surgery market by services is attributable to growing installations of da Vinci Surgical systems. For instance, Intuitive Surgical’s service revenue increased from USD429 million in 2014 to USD465 million in 2015, indicating an increase of 8%. High service revenue in 2015 was primarily fueled by a larger installed base of da Vinci Surgical Systems.
The top leading vendors operating in the global robotic surgery market are:
- Auris Surgical Robotics
- Intuitive Surgical
- Stryker
- Titan Medical
Other prominent vendors in the market include Accuray, Aesynt Inc, AVRA Surgical Robotics, Cambridge Medical Robotics, IMRIS, IRobot, Johnson & Johnson, Kirby Lester, MAZOR Robotics, Medrobotics, MedTech, Medtronic, NovaTract Surgical, Olympus, OmniGuide Holdings, Smith & Nephew, Stereotaxis, TransEnterix, Verb Surgical, and Verily Life Sciences.
A more detailed analysis is available in the Technavio report titled, ‘Global Robotic Surgery Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Exoskeleton Robots Market 2016-2020
- Global Laparoscopic Devices Market 2016-2020
- Global Surgical Power Tools Market 2016-2020
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