Assistive robots and artificial intelligence (AI) technology are quickly becoming important part of our daily lives. A large number of robotic tools are being used in surgical interventions. Demand for robotic surgery devices is expected to increase at a steady pace during the forecast period due to growing complexity of surgical procedures for managing serious diseases and rise in demand for minimally invasive technology. Robotic surgery devices continue to remain a fast-growing segment of the medical device industry. Moreover, exponential growth in the number of surgical procedures and mounting burden of chronic diseases drive demand for technologically progressive surgical robots. Surgical robots offer an array of benefits over conventional methods, making them more and more popular in advanced medical techniques. Better visualization of the surgical site, precise process protocol, better and shorter recovery period for patient undergoing robotic surgery, and reduced probabilities of human errors are the advantages of robotic surgery devices. Significant research and development activities in the field of advanced surgical robots has led to a shift in dynamics of surgical procedures toward extending the capabilities of surgeons during critical procedures. Apart from providing improved visuals of the surgical site to a surgeon, surgical robots provide real-time access to a patient’s medical records along with advanced sensor technology. For instance, Intuitive Surgical’s da Vinci Xi robotic surgery system allows minor incisions in highly critical procedures by providing advanced technology with excellent precision, control, and greater access to the doctor compared to conventional open surgeries. Moreover, the da Vinci Xi robotic surgery system provides a clear 3-dimentional view of the site to the surgeon. Another promising product in robotic surgery devices is the TransEnterix’s SurgiBot System, which unlike da Vinci Xi system which requires the surgeons to be seated behind the console, can be controlled by the surgeon from inside the sterile field. The advanced robotic approach is used to perform surgical procedures for the treatment of various gynecology, cardiac, spinal, urology, vascular, oncology, and general laparoscopy issues.

The global robotic surgery devices market can be segmented based on product type, surgery type, and region. In terms of product type, the market can be categorized into systems, accessories, and services. Based on surgery type, the global robotic surgery devices market can be classified into gynecology, cardiac, spinal, urology, vascular, oncology, and general laparoscopy surgery. In terms of region, the global robotic surgery devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to continue its dominance of the global robotic surgery devices market owing to greater acceptance of technology advancements, significant R&D expenditure, and increase in investments for such innovations.

However, a number of challenges exist in the field of advanced surgical robotics which can hamper market growth during the forecast period. Lack of skilled trainers, high learning curve, and resistance in terms of adoption of technology by senior surgeons are the major restraints of the global robotic surgery devices market. Organizational and regulatory challenges and high capital expenditure are the other factors hampering the growth of the global surgical robots market. For instance, cost of the advanced fourth-generation da Vinci Xi system is approximately US$ 1.9 Mn which increases with add-on cost of disposables and appendages, making it an expensive procedure. However, the advantages of surgical robots offset these restraints. Hence, doctors and hospitals are increasingly adopting these systems. However, the next generation surgical robotics market is still in a nascent stage. Advancements in technology make it a highly lucrative market for the future.

Key players in the global robotic surgery devices market are Intuitive Surgical, TransEnterix International, Inc., Stryker Corporation, Hansen Medical, Zimmer Biomet, Corindus Vascular Robotics, Stereotaxis, Inc., and Smith & Nephew, plc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Robotic Surgery Devices Market

Pre Book