The Robotics-Systems category is anticipated to grow noticeably over the next few years – so much so that revenue from this market, estimated at $3.3 billion in 2018, is expected to double by 2023. In these classes of computerized systems, robotic surgeons are becoming increasingly more popular over traditional technology such as laparoscopic and mini-gig robot controllers.
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Introduction to robotic surgery
The Robotics Surgery Addressable Market size and share has been forecasted to reach USD 28.58 Billion by 2024. The robotic surgery market is witnessing absolute growth due to increasing adoption rate of robotics surgeries, especially in the higher value surgical procedures such as Gynecology and Cardiac surgeries.
Market Size, Trends, Shares and Forecasts
With surgical robots utilized for medical procedures nowadays, there emerged a need for Downtime (international) market forecasts and share trends, as well as predictions on the overall market size. The availability of robotic surgery has vastly increased in the recent times, and is expected to have an exponential utpote over an 18-year period.
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Growing trends in medical robotics surgery
Robots have an important role in medical responsibilities. Although a robot is typically used in minimally invasive surgery, experts believe that robots will play even a more central part – this time performing the complete surgeries so patients do not have to take time off work. The use of robots during robotic surgery has been proven effective and it will continue to grow over the next 10 years with 7.5% annual growth.
Robotic Surgery Systems by country market size and industry share expectations
Global robotic surgery expected to experience significant market growth with the largest share of the surgical robotic systems (93%) to be release in North America.
Key Materials used in surgical robotics market
These materials are classified into four categories, namely synthetic polymers, natural polymers, rubber and metal. The market for these products is characterised by high compound annual growth rates with 8% for the forecast period 2017-19.
Asia-Pacific is expected to be the region with highest growth rate because of ageing population and increasing healthcare spending. Advanced economies such as US and the UK are likely to see high position in robotic surgery due to rising incidences of chronic diseases, e.g., diabetes, cardiac diseases, and cancer. There seems to be lack recognition in some regions of the capital expense associated with robotic surgery as smaller countries such as India invest heavily relative to their GDP.”