Robotic Surgery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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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.
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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.
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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.
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