Technological advancements such as advent of 3D imaging, microscopic cameras, and data recorders among others are facilitating growth in the market
Technological advancements such as advent of 3D imaging, microscopic cameras, and data recorders among others are facilitating growth in the market
Surgical imaging robots are increasingly used during surgeries conducted for the treatment of spinal rope injury, cerebral paralysis, rheumatoid joint pain, loss of motion, accidental patients, multiple sclerosis (MS), and other condition. In the near future, the surgical imaging robots market will register higher application in response to the increasing demand for minimally invasive surgeries, finds Fact MR in a study.
According to the World Health Organization (WHO), nearly 703 people around the world were aged 65 years and older. The number is likely to increase to 1.5 billion by 2050. Aged people are considered more vulnerable to rheumatoid arthritis and bone injury. Against this backdrop, Fact MR identifies the rising geriatric population as a chief growth driver.
The market also has been gaining from recent approvals by the Food and Drug Administration (FDA). For instance, in 2019, Intuitive Surgical, Inc., received 510 (k) FDA clearance for its robotic surgical system called Ion. Coupled with this, the increasing adoption of robot-assisted surgeries will create attractive opportunities for growth in the near future.
“With competition soaring high, market players are likely to focus on introducing technological advancements. Besides this, some of them are investing in merger and acquisitions to steer ahead of existing competition,” said a Fact MR analyst.
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Key takeaways:
- The U.S. offers lucrative growth opportunities backed by the presence of a well-established medical infrastructure and rising healthcare expenditure.
- The clinical automated frameworks will surpass $17 billion by 2020 fuelling global surgical imaging robot market.
- The demand for surgical robots will continue rising due to application in various surgeries
- Hospitals will emerge as key end user backed by higher footfall of patients.
- Increasing application in neurosurgery and orthopedic surgeries will fuel demand in the market
Prominent drivers:
- The rising prevalence of cardiovascular and neurological diseases and resultant demand for minimally invasive surgeries will push growth.
- Technological advancements are underway to launch next-generation features in surgical imaging robots. These developments will create opportunities for growth in the coming years.
- The rising number of knee and hip replacement surgeries will create scope for application of surgical imaging robots.
Key restraints:
- Operating difficulties faced while using new imaging robotic instruments might hamper widespread uptake.
- Fear of mechanical and human errors might restrict the use of surgical imaging robots.
Competitive Landscape:
Key players are adopting expansion strategies to increase their share in the global surgical imaging robot market. Besides this, they are focusing on new product launches. For instance:
- In February 2020, Digital Surgery, which is a privately owned surgical AI company, was acquired by Medtronic
Key players operating in the market are Medtronic, Intuitive Surgical, GE Healthcare, Philips, Siemens and Covidien, Blue Frog Robotics, Double Robotics, Fourier Intelligence, CT Asia Robotics, F&P Robotics, Cyberdyne, and Mojin Robotics.
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More Insights on the Global Surgical Imaging Robot Market:
Fact MR, in its new offering, brings to fore an unbiased analysis and global industry analysis of the global Surgical Imaging Robot Market presenting historical demand data (2016-2020) and forecast statistics for the period (2021-2031). The study divulges compelling insights on the Surgical Imaging Robots market with a detailed segmentation based on product type (Surgical robots, neurological surgery robotic system, cardiology surgery robotic system, Laparoscopic surgery robotic system, Orthopaedic surgery robotic system, Gynecologic robotic surgery, Urology robotic surgery), application (Orthopedicurgery, Neurosurgery, Gynecologic Surgery, Cardiothoracic Surgery, Urology, General Surgery, Plastic Surgery), and end user (hospitals, ambulatory surgical centers, diagnostic centers, and rehabilitation center) across North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa)
Key Questions Covered in the Report
- How will the surgical imaging robot market expand through 2031?
- Which are top manufacturing companies in the global surgical imaging robot market?
- What are the key drivers and opportunities that will stimulate the surgical imaging robot market sales?
- What are the restraints that will affect the sales of the surgical imaging robot market?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of COVID-19 on the surgical imaging robot market?
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Source: Fact.MR