Global Robotic Surgery Market 2016-2020
About Robotic Surgery
Robotic or computer-assisted surgery was primarily developed to help doctors perform minimally invasive surgery - operations carried out through a small incision in the skin and requiring little to no stitches or staples to close. In robotic surgery, doctors precisely manipulate miniature tools attached to a robotic arm using a console and video monitor, instead of directly operating on a patient. Minimally invasive procedures help reduce hospital stays, pain, and scarring thereby facilitating faster recovery and reduced hospital stays. Robotic surgeries are accurate and precise. They help to avoid damage to nerves or soft tissues, resulting in significantly less pain, the risk of infection, blood loss, scarring, and recovery time for patients. A rise in robotic procedures being conducted in hospitals also propels market growth.
Technavio’s analysts forecast the global robotic surgery market to grow at a CAGR of 11.34% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global robotic surgery market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of robotic surgical systems, instruments, accessories, and service support to key end-users such as hospitals and ambulatory surgical centers (ASCs).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Robotic Surgery Market 2016-2020
Technavio recognizes the following companies as the key players in the global robotic surgery market: Auris Surgical Robotics, Intuitive Surgical, Stryker, and Titan Medical
Other Prominent Vendors in the market are: 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
Commenting on the report, an analyst from Technavio’s team said: “The market has been witnessing a development in the use of low-cost robotic surgical systems, which is expected to change the market dynamics in the future. One of the reasons for low penetration rates in the market is the high cost of robotic surgical systems. Therefore, emerging competitors are currently focusing on developing cost-effective robotic systems and are likely to challenge the dominance of established vendors by providing greater affordability and technological innovation. The vendors are developing low-cost robotic surgical systems by incorporating new type of motors that use ceramics or plastics rather than metal components. The use of plastics will eventually reduce their operational costs, thereby improving the affordability. Also, the researchers are focusing on reducing the cost of sensors used in robotic surgical systems by developing smaller size components.”
According to the report, the limitations involved in open surgeries have driven the adoption of surgical robots. Open and laparoscopic surgeries require large incisions, and longer recovery times, which affect the individual’s outcomes. Also, this procedure is associated with increased infection rates and increased blood transfusion rates. Therefore, the surgeons are increasingly adopting urological surgical robots owing to its benefits over open surgeries. Some of the advantages of urological surgical robots include reduction of incision size, fewer blood transfusions, and improved recovery times. Also, it reduces urinary incontinence, erectile dysfunction, and mortality rates. Further, robotic urological surgery enhances surgeon’s skills, reduces variability, and provides opportunities for simulation.
Further, the report states that the presence of alternative treatment methods poses a challenge to the robotic surgeries market. Some of the alternative therapies include high intensity focused ultrasound (HIFU), laparoscopy, cryotherapy, and open surgeries. The presence of complexities involved in the use of robotic surgical systems, coupled with the lack of skilled surgeons is forcing the existing healthcare fraternity to shift toward other popular alternative therapies, for treating a wide variety of disorders such as urology, gynecology, general surgeries, and other conditions.
Auris Surgical Robotics, Intuitive Surgical, Stryker, Titan Medical, 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, Verily Life Sciences.
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