Global robotic surgery market forecast

Technavio’s market research analysts predict the global robotic surgery market to grow steadily during the forecast period and post a CAGR of more than 11% by 2020. This industry research report identifies the increased focus of surgeons towards minimally invasive surgeries to be one of the major factors that will have a positive impact on the robotic surgery market growth in the coming years. Benefits such as reduced recovery time, hospital stay, and postoperative pain have resulted in the increasing preference for minimally invasive surgeries by both surgeons and patients. Since the use of robotics gives a better view of the target area than conventional techniques and allow precise movement of instruments, the coming years will witness an increased adoption of robotic-assisted techniques, which will consequently drive the growth of the robotic surgery market.

Our robotic surgery market report estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the next four years. Increasing incidences of chronic disorders and the advantages of robotic surgeries over the other traditional methods such as laparoscopy and open surgeries will bolster the market’s growth prospects in this region.

Competitive landscape and key vendors

Characterized by the presence of major Tier 1 and Tier 2 companies and several small companies, the market appears to be fragmented and is highly competitive. Technological advancements and new product launches will increase the level of competition in the already competitive market. To improve product quality and product development, Tier 1 and Tier 2 companies are increasingly focusing on forming partnerships with universities. Also, vendors mainly focus on differentiating their products from the competitors to help them gain a competitive edge. Additionally, the presence of several robotic surgery companies that develop accessories and provide service support to cater to the increasing demand for robotic-assisted accessories and services will further intensify the market’s competitive environment.

The leading vendors in the market are 

• Auris Surgical Robotics
• Intuitive Surgical
• Stryker
• Titan Medical

The other prominent vendors in the market are Accuray, Aesynt Inc, AVRA Surgical Robotics, Cambridge Medical Robotics, IMRIS, IRobot, Johnson & Johnson, Kirby Lester, MAZOR Robotics, Medrobotics, MedTech, Medtronic, NovaTract Surgical, Olympus, OmniGuide Holdings, Smith & Nephew, Stereotaxis, TransEnterix, Verb Surgical, and Verily Life Sciences.

Segmentation by product type and analysis of the robotic surgery market

• Robotic surgery systems
• Instruments and accessories
• Robotic surgery services

During 2015, the instruments and accessories segment accounted for the major shares and dominated the market. Instruments and accessories such as sterile drapes, light guides, and camera heads facilitate the use of robotic systems and have the need to be replaced after every procedure. This short replacement cycle of instruments and accessories will bolster the market segment’s revenue shares until the end of 2020.

Segmentation by product type and analysis of the robotic surgery market

• Urology
• Gynecology
• General surgery
• Others

According to this market research and analysis, the gynecology segment will account for the major robotic surgery market share throughout the predicted period. This is mainly due to the increased volume of hysterectomy procedures. Technological advancements in surgical devices and the increased adoption of minimally invasive surgeries will lead to the replacement of traditional surgical methods, which, in turn, will propel the demand for surgical devices in several developing and developed economies across the world.

Key questions answered in the report include

• What will the robotic surgery market size and the growth rate be in 2020?
• What are the key factors driving the global robotic surgery market?
• What are the key market trends impacting the growth of the global robotic surgery market?
• What are the challenges to market growth?
• Who are the key vendors in the global robotic surgery market?
• What are the market opportunities and threats faced by the vendors in the global robotic surgery market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global robotic surgery market?

Technavio also provides customized reports based on the specific requirements of our clients.