Status : Published Published On : Apr, 2021 Report Code : VRHC1240 Industry : Healthcare Available Format : Page : 185

Global Next-Generation Surgical Robots Market – Analysis and Forecast (2020-2025)

Industry Insights by Product and Service (Robotic Systems, Instruments & Accessories, Services), Application (Gynaecological Surgery, Urological Surgery, Neurosurgery, Orthopaedic Surgery, General Surgery, Other Applications), End User (Hospitals, Ambulatory Surgery Centres)

Industry Overview

The market size of global next-generation surgical robotics was valued at $11.3 million in 2019 and expected to grow at a CAGR of 28.6% during the forecast period 2020-2025 anticipated to reach $598.5 million in 2025.

Some of the key driver factoring to this growth in the Global Next-Generation Surgical Robotics Market are technological breakthroughs, advantages of robotic-assisted surgery, highly increasing adoption of surgical robots by ambulatory surgery centres and the hospitals & raising fundings for the medical robot research. However, the growth of the market is constrained by high costs for the construction of robotic devices and a lack of qualified professionals.

On an unparalleled scale, the COVID-19 epidemic has upended many lives and businesses. The pandemic would have a detrimental effect on the demand for next-generation surgical robots. The pandemic has culminated in a temporary ban on elective surgeries across the world, resulting in cancellations of elective surgeries worldwide. The latest outbreak of the pandemic of coronavirus disease (COVID-19) has posed an unprecedented threat to the world's healthcare systems.

It has become important to recognize the future role of robotic-assisted surgery in the current pandemic as elective operations are halted and concerns are raised about how the remaining procedures on COVID-19 positive patients can be safely conducted. A number of robotic-assisted surgery societies have also recently provided their recommendations on this subject. 

MARKET SEGMENTATION

Surgical robotic systems mainly include surgical systems, instruments & accessories, and facilities (capital equipment) (maintenance and up-gradation). The definition of these advanced technologies has developed over the past decade, including the use of these devices for different surgical procedures, ranging from general surgery to orthopaedic surgery.

Based on Product and Service: Among all segments of the Next-Generation Surgical Robotics Market, the instruments & accessories segment is estimated to be fastest-growing for the forecasted period. 

As per the Product & Service type, the market for Next-Generation Surgical Robotics is segmented into the following:
               a. Robotic systems
               b. Instruments & Accessories
               c. Services

The international market is segmented into robotic systems, instruments, and accessories & services on the basis of product and service. The largest market share was commanded by the instruments & accessories segment in 2019. As compared to robotic systems, which are a one-time investment, the large share and fast growth rate of this segment are driven primarily by the recurring purchase of instruments & accessories.

Based on Application: The fastest-growing segment from the irrigation automation market for the forecast period is estimated to be the general surgery segment.

As per the Application, the market for Next-Generation Surgical Robotics is segmented into the following:
             a.    Gynaecological Surgery
             b.    Urological Surgery
             c.    Neurosurgery
             d.    Orthopaedic Surgery
             e.    General Surgery
             f.    Other Applications

The market is segmented into general surgery, urological surgery, gynaecological surgery, orthopaedic surgery, neurosurgery, and other applications, depending on the application. During the forecast period, the general surgery segment is anticipated to rise at the highest rate.

Based on End User: The fastest-growing segment from the irrigation automation market for the forecast period is estimated to be the hospital's segment. 

As per the End User, the market for Next-Generation Surgical Robotics is segmented into the following:
               a.    Hospitals
               b.    Ambulatory Surgery Centres

The market is segmented into hospitals and ambulatory surgery centres, based on end-users. The market for surgical robots in hospitals is mainly motivated by the growing emphasis on improved accuracy in performing surgeries and ensuring greater comfort for surgeons.

DRIVERS

1.   Increasing prevalence of chronic diseases

2.   Raising elderly population

3.   Rising expenditures on healthcare in developing economies

4.   Increasing interest for minimally invasive surgery

5.   Lower prices of next-generation surgical robotic platforms

6.   Robotics-based surgery in the field of surgery is at the cutting edge of precision, experiencing a dramatic transition due to the recent phenomenal developments in devices. In various applications such as urology, gynaecology, orthopaedic and general surgery, robot-assisted procedures are now commonly conducted by tiny incisions and are widely performed.

7.    The key factors driving the market growth are the growing prevalence of chronic diseases, the rapid increase in the geriatric population, the sophistication of surgical procedures and the increasing preference for minimally invasive surgery (MIS) with greater precision and versatility.

8.    With the introduction of technological advancements and developments in minimally invasive surgical procedures, the continuing trend of increasing demand for surgical robotic systems is expected to continue in the future.

OPPORTUNITIES

1.    Production of next-generation surgical systems with low costs
2.    Production of Surgical Training Simulators

CHALLENGES

1.    High-entry level cost - High funding, particularly in the current economic climate, is unattainable for entry-level researchers.
2.    Lack of professionals with expertise.
3.    Restrictive system for reimbursement in many countries.
4.    The effect on healthcare economics - It strains the already financially unsustainable health services, at the expense of the substantial capital cost of a robot as well as the ongoing cost of the maintenance and tools.
5.    It is complex to implement.
6.    Regulatory challenges - Robotic surgery affects and disrupts the healthcare system with more and more patients. The proximity of surgical robotics to humans invoked severe regulatory interference from the beginning of the industry, unlike industrial robotics, which could be seen as an insular research-and-development sector limited to product manufacturing.

GEOGRAPHICAL ANALYSIS

Based on Geography, the Irrigation Automation market is segmented into-

a.    North America – US, Canada
b.    Europe – Germany, UK, France, Italy, Spain, Rest of Europe
c.    Asia Pacific (APAC) – India, Japan, China, Rest of APAC
d.    Rest of the World – Middle East & Africa.

Significant growth is to be witnessed by the North America segment from the year 2020 to 2025.
On the basis of four major regional divisions, North America, Europe, Asia Pacific, and the Rest of the World, the global demand for surgical robots was classified. In 2019, the largest share of the global market was North America. The availability of funding for R&D in surgical robots in this area and the growing adoption of surgical robots for paediatric surgeries in Canada and general surgery procedures in the US can be due to the large percentage of the North American industry.

COMPETITIVE  ANALYSIS

Key players in the global next-generation surgical robots market include:

1.    Intuitive Surgical (U.S.A) - Intuitive Surgical develops surgical robots used for surgical procedures. For the surgical robotics industry, the company develops, produces and markets robotic-assisted systems and other associated instruments and accessories. A variety of procedures, including prostatectomy, hysterectomy, hernia repair, cholecystectomy, partial nephrectomy, Sacro-colpopexy, mitral valve repair, lobectomy, and colon and rectal procedures, are designed for the da Vinci system.

2.    Stryker (U.S.A) – The company acquired MAKO Surgical (US), a company producing surgical robots, in December 2013. This acquisition allowed Stryker to enter the market for surgical robots. Within its Orthopaedics market division, Stryker provides surgical robots. In the US, Canada, Europe, Japan, and other countries in the Pacific and Latin American areas, the organization has a large geographical presence.

3.    Mazor Robotics (U.S.A)

Other players are:

1.    Smith & Nephew (UK)
2.    Hansen Medical (US)
3.    Medrobotics (US)
4.    TransEnterix (US)
5.    Medtech (France)
6.    Renishaw (UK)
7.    THINK Surgical (US)

LATEST NEWS

In June 2020, Accuray Integrated introduced the CyberKnife S7 System, a revolutionary device for both stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments in 15 minutes that integrates speed, advanced accuracy, and real-time artificial intelligence (AI)-driven motion monitoring and synchronization treatment delivery. A robotic, non-invasive radiation therapy unit capable of treating cancerous and benign tumours throughout the body and neurological conditions, the CyberKnife S7 System is the next-generation CyberKnife tool.

In Oct 2019, Stryker Corporation announced the acquisition of Mobius Imaging, LLC, offering point-of-care imaging technology, and its sister company, GYS Tech LLC. Stryker may expand its presence in Orthopaedics, Spine, and Neurotechnology with both the expertise of these acquired companies in advanced imaging and robotics and a robust product pipeline.

In December 2018, Medtronic joined the market for surgical robots with the acquisition of Mazor Robotics. Mazor Robotics is an Israel-based company with robotic & image-based systems expertise and a strong focus on minimally invasive surgical procedures, especially in the spinal surgery field.

Zimmer Biomet joined the market for surgical robots in December 2016 with its MedTech acquisition. The ROSA robotic system used for neurological and spine procedures is being developed by MedTech. In countries such as France, Germany, Italy, Spain, the United Kingdom, Switzerland, Japan, Australia, New Zealand, South Korea, China, Taiwan, India, Thailand and Singapore, the organization has a wide geographic presence.

Next-Generation Surgical Robots Market Size

Source: VynZ Research

Next-Generation Surgical Robots Market Analysis

Source: VynZ Research

Frequently Asked Questions

Around the globe, North America was largest next-generation surgical robotics market in 2019.
The key factors driving the market growth are the growing prevalence of chronic diseases, the rapid increase in the geriatric population, the sophistication of surgical procedures and the increasing preference for minimally invasive surgery (MIS) with greater precision and versatility.
Hospitals and Ambulatory Surgery Centres are the major end-users for the global next-generation surgical robotics market.
Some of the major players operating in the global next-generation surgical robotics market are Smith & Nephew, Hansen Medical, Medrobotics, TransEnterix, Medtech, Renishaw, and THINK Surgical.
The global next-generation surgical robotics market was valued at USD 11.3 million in 2019.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Next-Generation Surgical Robots Market