Get In Touch

Robotic surgery, also known as robot assisted surgery, is an emerging advanced medical technology which helps specialist surgeons perform many types of complex procedures with more accuracy, control, and flexibility as compared to the conventional procedures. Robotic surgeries are associated with minimally invasive surgical procedures. Surgical robots have overcome the limitations of the current laparoscopic procedures and enhanced the benefits of minimally invasive surgeries.

ROBODOC by Integrated Surgical Supplies Ltd. was the first surgical robot approved by the FDA in August 2008. It was first 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 AESOP system (a voice-controlled robotic endoscope), Da Vinci, and Zeus have been approved by the FDA. Robotic surgery using the Da Vinci Surgical System was approved by the U.S. FDA in 2000 and has been adopted in the U.S. and Europe hospitals for treating various conditions. Mechanical arm and camera arm with surgical instruments are extensively used for clinical robotic surgery providing the surgical team with a 3-D view of the surgical site. The robotic surgery market is rapidly expanding. New projects have been launched on corporate and academic levels for the development of miniaturized, lightweight prototypes of surgical robots.

Facilitation of improved ergonomics and magnified view with dexterity by robotic platforms facilitate the uptake of minimally invasive procedures. This is expected to drive the market during the forecast period. Image guidance complementing the robotically assisted procedures, through the concepts of augmented reality, is anticipated to be a major revolution in the dealing of difficulties associated with new minimally invasive procedures. It is predicted that availability of evaluated, approved, and established robotic surgery clinical data, less complications associated with low surgical site infection, minimal blood loss, less pain, faster recovery, and minimal scarring are projected to further propel the market. However, lack of fully established and trained surgical team and equipment make robotic surgeries an expensive procedure as compared to the conventional approach. This is likely to hinder the market. Additionally, the current robotic system is not very versatile and is often bulky, which can discourage the adoption of these procedures.

In terms of components, the robotic surgery system market is segmented into surgical systems, robotic surgery services, and instruments & accessories. Robotic surgery services segment is expected to expand at a rapid pace. High maintenance cost and annual service contract which comes with the product at the time of sale are expected to boost the segment. The instruments & accessories segment is expected to hold a major market share due to the rise in adoption of robots assisted surgeries. Based on application or area of surgery, the market is segmented into laparoscopy, gynecology, urology, orthopedic, pediatric surgery, general surgery, and others. Robotic surgical system is anticipated to offer immense alternatives in urology, thoracic, colorectal, gynecological, general and pediatric surgeries. Urology accounted for a major share of this market due to the rise in prostatectomy procedures. Basis on end-user, the robotic surgery market is segmented into hospitals and ambulatory surgical centers. Hospital segment accounted for a major share due to the availability of the trained professional surgical team for performing these surgeries along with advanced infrastructure.

In terms of geography, the robotic surgery market is segmented into North America, Europe, Asia pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the increase in acceptance of these robotics by patients, advanced health care infrastructure, and strategic collaboration with insurance companies. Asia Pacific is expected to be the next biggest market after North America due to rapid development of robotic surgical systems and increase in demand of surgical robots in countries such as China and India. The global market is dominated by established companies and increasing competition in factors such as pricing, distribution partnership, product and technology upgrade.

Key players operating in the robotic surgery market include Intuitive Surgical Inc., MAKO Surgical Corp., Medtronic Inc., Accuray Incorporated, Hansen Medical Inc., Blue Belt Technologies, Mazor Robotics Ltd., SRI International, Curexo Technology Corporation, and Think Surgical Inc.

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 Market

Pre Book