Surgical Robots Market set to Grow at 10.4% CAGR to 2023, led by North America and Europe- ReportsnReports

PUNE, India, January 9, 2019 /PRNewswire/ --

Growth projection of surgical robots market to reach US$ 6.5 billion from US$ 3.9 billion at a 10.4% CAGR during (2018 to 2023) driven by the growth in surgical robots market factors such as technological advancements, increased funding from the government for surgical robots' research and development, growing application areas to varied surgical specialties, and rise in the adoption of surgical robots by hospitals and ambulatory surgical centers in North America and Europe region.

Browse 96 Market Data Tables and 32 Figures spread through 131 Pages and in-depth TOC on "Surgical Robots Market by Component (Surgical Robotic Systems, Accessories), Application (Gynecological Surgery, Orthopedic Surgery, Neurosurgery, General Surgery), End User (Hospitals, Ambulatory Surgical Centers) - Global Forecasts to 2023" https://www.reportsnreports.com/reports/1798365-surgical-robots-market-by-component-surgical-robotic-systems-accessories-application-gynecological-surgery-orthopedic-surgery-neurosurgery-general-surgery-end-user-hospitals-ambulatory-surgical-centers-ts-to-2023.html .

Some companies have the largest installed base of surgical robotic systems across hospitals and ambulatory surgical centers. The major vendors in the global market are Intuitive Surgical (US), Stryker (US), and Mazor Robotics (US). Other players involved in this market are Smith & Nephew (UK), Hansen Medical (US), Medrobotics (US), TransEnterix (US), Medtech (France), Renishaw (UK), and THINK Surgical (US).

Surgical robots market comprises several stakeholders such as surgical robots and related device manufacturing companies, suppliers and distributors of surgical robots, hospital and diagnostic centers, ambulatory surgery centers, medical colleges, teaching hospitals, and academic medical centers. Adoption of surgical robots in the Asia Pacific region is expected to offer growth opportunities in the region. Geographically, surgical robots market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest rate during the forecast period.

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Report studies the surgical robots market based on component, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. The large share and high growth of this segment can be attributed to factors such as high growth and increased use of surgical robots in general procedures.

Surgical robots market has been segmented into systems, instruments & accessories and services. The instruments & accessories segment is expected to hold the largest market share during the forecast period. The recurring demand for instruments & accessories owing to their disposable nature are driving growth in this market segment. Moreover, increasing adoption of surgical robots on account of the various advantages that these systems offer is further fueling market growth.

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On the basis of applications, the surgical robots market is segmented into gynecological surgery, urological surgery, neurosurgery, orthopedic surgery, general surgery, and other applications. The general surgery segment is expected to grow at the highest rate during the forecast period. The large share and high growth of this segment can be attributed to factors such as high growth and increased use of surgical robots in general procedures.

Breakdown of supply-side primary interviews:  

• By Company Type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
• By Designation: C-level - 35%, Director-level - 25%, and Others - 40%
• By Region: North America - 20%, Europe - 25%, APAC - 40%, and RoW - 15%

Another research titled the surgical retractor market projected to reach US$ 2.5 billion by 2023 from US$ 1.8 billion in 2018, at a CAGR of 7.2%. The growth of this market is largely driven by factors such as the increasing number of surgical procedures. The head, neck, and spinal applications segment is expected to witness high growth rate in the surgical retractors market, by application, during forecast period. The major players in the market include JOHNSON & JOHNSON (US), MEDTRONIC PLC (US), BECTON, DICKINSON AND COMPANY (US), STRYKER CORPORATION (US), Terumo Corporation (Japan), HENRY SCHEIN, INC. (US), B. Braun Melsungen AG (Germany), TELEFLEX INCORPORATED (US), INTEGRA LIFESCIENCES HOLDINGS CORPORATION (US), THE COOPER COMPANIES, INC. (US), GLOBUS MEDICAL, INC. (US), RTI SURGICAL, INC. (US), Arthrex, Inc. (US), Invuity, Inc. (US), and Medline Industries, Inc. (US) is available with discount at https://www.reportsnreports.com/contacts/discount.aspx?name=1816434 .

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