According to the latest report published by Credence Research, Inc. “Surgical Robotics:Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the surgical robotics market was valued at USD 4,736.0 Mn in 2015, and is expected to reach USD 9,512.1 Mn by 2022, expanding at a CAGR of 10.3% from 2016 to 2022.
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Surgical robotics is a combination of automated equipment, software and accessories that assist in automatically performing minimally invasive surgical procedures. Robotic surgery allows efficient manipulation, procedural flexibility control in surgeries to be performed in tight spots. Benefits of robotic surgery such as limited blood loss, better navigation and lesser risk of infections drive the global surgical robotic systems market. Growing scope of automation in healthcare and heightening demand for minimally invasive surgeries further allow the market growth.
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However, high costs associated with installation and maintenance of surgical robots and reporting of accidental injuries may hold back the growth of this market. This report studies the global surgical robotics market in terms of components and type of surgery. Among the components, surgical systems hold the largest market share in 2015 followed by accessories. The market for surgical surgeries is rapidly moving on the ground of frequent replacements and thus high volume purchase. Based on type of surgery, this market is categorized into gynecology, urology, neurosurgery, orthopedic, general surgery and other surgeries.
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This market is characterized by rapid technological development and hence swift adoption of these solutions in developed markets.Surgical robots assist in reducing the time of surgery and facilitate procedural accuracy. Due to this, the demand for surgical robotic systems is growing worldwide. Furthermore,several funding for research and development, thus swift commercialization of novel technologies and thus allow momentum in this market through the forecast period.
Intuitive Surgical, with its da Vinci Surgical System is the clear leader in the surgical robotics market. Other major players in this market include Stryker Corporation (Blue Belt Technologies), Think Surgical, Smith and Nephew (MAKO Surgical), Renishaw and others. The players competing in this market are increasingly exploring the field of nanorobots. Research is being conducted to develop nanorobots for cancer treatment by performing noninvasive surgeries at cellular level.
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