Global Surgical Robotics Market: Focus on Products, Applications, End Users, Countries, Patents, Market Share and Competitive Landscape - Analysis and Forecast (2017-2025)

  • ID: 4455435
  • Report
  • Region: Global
  • 369 pages
  • BIS Research
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Global Surgical Robotics Market to Reach $12.6 Billion 2025

FEATURED COMPANIES

  • Accuray Inc.
  • Endomaster Pte Ltd.
  • Mazor Robotics Ltd.
  • MicroSure
  • Smith & Nephew plc
  • Think Surgical Inc.
  • MORE

Robotic surgery refers to a surgical procedure where surgeons use a computer to control small instruments attached to a robot. Hence, it is also known as computer guided minimally invasive surgery. The surgical robotic system includes surgeons console, surgical arms and monitoring system and software. The robotic surgery is an advanced technology that helps surgeons to perform complex surgeries with more accuracy and precision. This surgery ensures greater accuracy, enhanced motion range and provides better dexterity to surgeons. Further, the three dimensional vision provided by the camera renders a more detailed view to the surgeons which, as a result, enhances the surgical outcome and the overall procedure.

There was a growing demand for minimally invasive surgical techniques both from the patient and the doctor side. Generally, traditional minimally invasive laparoscopic surgical techniques are employed for region of interest in surgeries, but those techniques have their limitations of standard two dimensional video and rigid instruments used by the surgeons. These instruments are incapable of providing high quality video of the affected region impose a difficulty in the case of complex surgeries.

On the contrary, robotic surgery makes it easier for the surgeons to carry out complex procedures with comparatively much smaller incisions (0.5-1 mm). As a result, the global surgical robotics market is growing at an exponential rate.

A surgical robot recurring revenue business model is essentially a large one-time purchase for a system complimented by the replaceable or disposable instruments that cumulatively make a much larger and sustainable ongoing market. In recurring revenue business model, the vendor makes money through one time sale of the robotic system and then generates recurring revenue from the sale of equipment and accessory products, and maintenance services used in the robotic system.

Surgical robots increase the accuracy of surgeons while reducing the risk to the patients. For instance, heart bypass surgery requires patient’s chest to be opened by making a long incision. The surgeon first cuts through skin, then tissue and muscle, then fascia, and then reaches the heart. However, through non-invasive surgical robots it become easy to perform critical surgeries with minimal incision and high accuracy. Surgical robots have several advantages such as decrease in post-operative pain, decreased risk of infection, and decreased blood loss. They provide effective representations of body parts and increase dexterity, which aids the surgeons while working on inaccessible body parts and offer shorter recovery time and leave lesser scars in comparison to the traditional open surgery.

This research study includes an extensive analysis of the global surgical robotics market by product, application, end-user and geographical regions, allowing the researcher to develop a comprehensive outlook of the market. Each of these segments have been analyzed on the basis of their current and future market size, considering the macro and micro environmental factors.

The market report presents a detailed and investigative study of the entire market and provides a comprehensive insight into various forms of development, trends and the key market participants. While highlighting the key driving and restraining forces for this dynamic market, the report also provides a comprehensive section on competitive landscape, market share analysis, competitive benchmarking, and the position of the competitors within the global surgical robotics market.

The following key questions have been addressed in the report:

  • What are the major market drivers, challenges and opportunities of the global surgical robotics market?
  • How did the minimally invasive robot assistive surgical procedures evolve and what is its scope in the future?
  • What were the market shares by value of the leading segments and sub-segments of the global surgical robotics market in 2016 and what will be the shares in 2025?
  • What were the market shares by volume of the leading segments and sub-segments of the global surgical robotics market in 2016 and what will be the shares in 2025?
  • How will each of the segments of the global surgical robotics market by value grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2025?
  • How will each of the segments of the global surgical robotics market by volume grow during the forecast period and what will be the installation volume or procedural volume respectively by each of the segment by the end of 2025?
  • How did the market share of the leading companies change in 2016 and which country will lead the market in 2017?
  • How will the surgical robotics industry evolve during the forecast period 2017-2025?
  • What are the key developments and strategies implemented by the key players to stand out in this market?
  • Which product, application and end-user will dominate the global surgical robotics market by the end of the forecast period and which one is growing at the highest CAGR during the forecast period 2017-2025?
  • What will be the growth rate of different segments during the forecast period? Which is the leading segment by product, imaging modality, application, and end-user?
  • Who are the key players in the global surgical robotics market?
  • Which region will lead the global surgical robotics market in revenue generation through the forecast period?
  • Which region will lead the global surgical robotics market in surgical systems installation volume throughout the forecast period?
  • Which country will be growing at the highest CAGR during the forecast period?

The key players who have significant contributions to the surgical robotics market are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics, Hansen Medical Inc., MedRobotics, TransEnterix Inc., Accuray Inc., Renishaw plc, Think Surgical, Synaptive Medical, Titan Medical Inc. and Smith & Nephew plc, among others.

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Accuray Inc.
  • Endomaster Pte Ltd.
  • Mazor Robotics Ltd.
  • MicroSure
  • Smith & Nephew plc
  • Think Surgical Inc.
  • MORE

Executive Summary

1 Report Scope and Methodology
1.1. Scope of the Report
1.2. Global Surgical Robotics Market Segmentation
1.3 Key Learnings
1.4 Research Methodology
1.4.1. Data Triangulation
1.4.2. Key Data Points from Secondary Sources
1.4.3. Key Data Points From Primary Sources
1.4.4. Top-Down  Approach (Segmental Analysis)
1.4.5. Bottom-Up Approach (Segmental Analysis)
1.4.6. Assumptions and Limitations
1.4.7. Data and Prediction Modelling

2 Market Overview
2.1 Market Trend
2.2 History and Future of Robotic Surgery
2.3 Recent Market Developments

3 Market Dynamics
3.1 Overview
3.2 Impact Analysis of Market Drivers
3.3 Market Drivers
3.4 Impact Analysis of Market Restraints
3.5 Market Restraints
3.6 Market Opportunities

4 Competitive Landscape
4.1. Key Development and Strategies
4.1.1 New Product Launches and Developments
4.1.2 Approvals and Certifications
4.1.3 Business Expansions/Contracts
4.1.4 Collaborations, Joint Ventures and Partnerships
4.1.5  Mergers & Acquisitions
4.1.6 Others
4.2. Legal Requirements and Regulations
4.3 Industry Attractiveness
4.4 Market Share Analysis
4.5 Value Chain Analysis

5 Industry Analysis
5.1 Patent Landscape
5.2.  Consortiums, Associations, and Regulatory Bodies

6 Global Surgical Robotics Market, by Product
6.1 Overview
6.2 Surgical System
6.3 Instruments & Accessories
6.4 Services & Maintenance

7 Global Surgical Robotics Market, by Application
7.1 Overview
7.2 General Surgery
7.3 Interventional Cardiology
7.4 Gynecology Surgery
7.5 Orthopedics Surgery
7.6 Urological Surgery
7.7 Neurological Surgery
7.8 Others

8 Global Surgical Robotics Market, by End User
8.1 Overview
8.2 Hospitals
8.3 Ambulatory Surgical Centers
8.4 Others

9 Global Surgical Robotics Market, by Region
9.1 Overview
9.2 North America
9.2.1 North America by Country
9.2.2 The U.S.
9.2.3 Canada
9.3 Europe
9.3.1 Europe by Country
9.3.2 Germany
9.3.3 The U.K.
9.3.4 France
9.3.5 Italy
9.3.6 Spain
9.3.7 The Netherlands
9.3.8 Belgium
9.3.9 Others
9.4 Asia-Pacific
9.4.1 Asia-Pacific by Country
9.4.2 Japan
9.4.3 China
9.4.4 Australia
9.4.5 South Korea
9.4.6 India
9.4.7 Others
9.5 Latin America
9.5.1 Latin America by Country
9.5.2 Brazil
9.5.3 Mexico
9.5.4 Others
9.6 Rest of the World (RoW)
9.6.1 Rest of the World by Country
9.6.2 Israel
9.6.3 Russia
9.6.4 Kingdom of Saudi Arabia
9.6.5 The U.A.E.
9.6.6 Others

10 Company Profile
10.1 Accuray Inc.
10.1.1 Overview
10.1.2 Product Mapping
10.1.3 Financials
10.1.3.1 Financial Summary
10.1.4 SWOT Analysis
10.2 Cambridge Medical Robotics Ltd.
10.2.1 Overview
10.2.2 Product Mapping
10.2.3 Overall Summary
10.2.4 SWOT Analysis
10.3 Corindus Vascular Robotics Inc.
10.3.1 Overview
10.3.2 Product Mapping
10.3.3 Financials
10.3.3.1 Financial Summary
10.3.4 SWOT Analysis
10.4 Hansen Medical
10.4.1 Overview
10.4 Auris Surgical Robotics
10.4.2 Overview
10.4.3 Product Mapping
10.4.4 Financials
10.4.4.1 Financial Summary
10.4.5 SWOT Analysis
10.5 Intuitive Surgical Inc.
10.5.1 Overview
10.5.2 Product Mapping
10.5.3 Financials
10.5.3.1 Financial Summary
10.5.4 SWOT Analysis
10.6 Mazor Robotics Ltd.
10.6.1 Overview
10.6.2 Product Mapping
10.6.3 Financials
10.6.3.1 Finacial Summary
10.6.4 SWOT Analysis
10.7 Medrobotics Corporation
10.7.1 Overview
10.7.2 Product Mapping
10.7.3 Overall Summary
10.7.4 SWOT Analysis
10.8 Medtech SA
10.8.1 Overview
10.8 Zimmer Biomet Holdings Inc.
10.8.2 Overview
10.8.3 Product Mapping
10.8.4 Financials
10.8.4.1 Financial Summary
10.8.5 SWOT Analysis
10.9 Renishaw plc
10.9.1 Overview
10.9.2 Product Mapping
10.9.3 Financials
10.9.3.1 Financial Summary
10.9.4 SWOT Analysis
10.1 Smith & Nephew plc
10.10.1 Overview
10.10.2 Product Mapping
10.10.3 Financials
10.10.3.1 Financial Summary
10.10.4 SWOT Analysis
10.11 Stryker Corporation
10.11.1 Overview
10.11.2 Product Mapping
10.11.3 Financials
10.11.3.1 Financial Summary
10.11.4 SWOT Analysis
10.12 Synaptive Medical Inc.
10.12.1 Overview
10.12.2 Product Mapping
10.12.3 Overall Summary
10.12.4 SWOT Analysis
10.13 Think Surgical Inc.
10.13.1  Overview
10.13.2 Product Mapping
10.13.3 Overall Summary
10.13.4 SWOT Analysis
10.14 Titan Medical Inc.
10.14.1 Overview
10.14.2 Product Mapping
10.14.3 Financials
10.14.3.1 Financial Summary
10.14.4 SWOT Analysis
10.15 TransEnterix Inc.
10.15.1 Overview
10.15.2 Product Mapping
10.15.3 Financials
10.15.3.1 Financial Summary
10.15.4 SWOT Analysis
10.16 Verb Surgical
10.16.1 Overview
10.16.2 Product Mapping
10.16.3 Overall Summary
10.16.4 SWOT Analysis
10.17 Applied Dexterity
10.17.1 Overview
10.18 Endomaster Pte Ltd.
10.18.1 Overview
10.19 Dexterite Surgical
10.19.1 Overview
10.2 Honeybee Robotics
10.20.1 Overview
10.21 MicroSure
10.21.1 Overview
10.22 Medtronic
10.22.1 Overview
10.23 Preceyes BV
10.23.1 Overview
10.24 Virtual Incision Corporation
10.24.1 Overview
10.25 Mimic Technologies
10.25.1 Overview
10.26 SRI International
10.26.1 Overview

List of Tables
1 Global Surgical Robotics Market by Product (In Units)
2 Global Surgical Robotics Market by Application (In Units)
3 Global Surgical Robotics Market, by End-User (In Units)
4 Global Surgical Robotics Market, by Region (In Units)
5 Recent Product Launches and Developments
6 Approvals & Certifications
7 Business Expansions/Contracts
8 Collaborations, Joint Ventures & Partnerships
9 Mergers and Acquisitions
10 Other Strategies
11 Porter’s Five Forces Analysis
12 Patent Landscape
13 Consortiums, Associations and Regulatory Bodies
14 Surgical Robots Installations by Major Brand, 2016-2025 (In Units)
15 Some of the Surgical Robotics Systems 
16 Some of the Instruments & Accessories for Robotic Surgical Systems
17 Global Surgical Robotics Market, by Application, 2016-2025 (In Units)
18 Global Surgical Robots Installation by End-User, 2016-2025 (In Units)
19 Some of the Emerging Platforms for Robotic Surgery
20 Installed Surgical Robotics Systems, by Country, 2016-2025 (In Units)
21 Key Market Players (Europe)
22 Overview: Accuray Inc.
23 Overview: Cambridge Medical Robotics Ltd.
24 Overview: Corindus Vascular Robotics Inc.
25 Overview: Hansen Medical
26 Overview: Intuitive Surgical Inc.
27 Overview: Mazor Robotics Ltd
28 Overview: Medrobotics Corporation
29 Overview: Medtech SA
30 Overview: Zimmer Biomet Holdings Inc.
31 Overview: Renishaw plc
32 Overview: Smith & Nephew plc
33 Overview: Stryker Corporation
34 Overview: Synaptive Medical Inc.
35 Overview: Think Surgical Inc.
36 Overview: Titan Medical Inc.
37 Overview: TransEnterix Inc.
38 Overview: Verb Surgical
39 Overview: Applied Dexterity
40 Overview: Endomaster Pte Ltd
41 Overview: Dexterite Surgical
42 Overview: Honeybee Robotics
43 Overview: MicroSure
44 Overview: Medtronic
45 Overview: Preceyes BV
46 Overview: Virtual Incision Corporation
47 Overview: Mimic Technologies
48 Overview: SRI International

List of Figures
1 Surgical Robotics Market- Market Dynamics
2 Global Surgical Robotics Market ($Million)
3 Global Surgical Robotics Market Share by Product, 2016
4 Global Surgical Robotics Market Share by Product, 2025
5 Global Surgical Robotics Market by Application, 2016
6 Global Surgical Robotics Market by Application, 2025
7 Global Surgical Robotics Market Share by End-User, 2016
8 Global Surgical Robotics Market Share by End-User, 2025
9 Global Surgical Robotics Market Share by Region, 2016
10 Global Surgical Robotics Market Share by Region, 2025
11 Global Surgical Robotics Market Value by Region, 2016 -2025 ($Million)
12 Global Surgical Robotics Market Segmentation
13 Research Methodology
14 Data Triangulation
15 Key Data Points From Secondary Sources
16 Key Data Points From Primary Sources
17 Top-Down  Approach (Segmental Analysis)
18 Bottom-Up Approach (Segmental Analysis)
19 Assumptions and Limitations
20 Periodic Development of Medical Surgery Market
21 Market Dynamics
22 Market Drivers
23 Market Restraints
24 Market Opportunities
25 Share of Key Developments and Strategies
26 Porter’s Five Forces Analysis
27 Global Surgical Robotics Market Share by Surgical Systems, 2015
28 Global Surgical Robotics Market Share by Surgical Systems, 2016
29 Global Surgical Robotics Market by Product, 2016-2025 ($Million)
30 Surgical System Surgical Robotics Market, 2016-2025 ($Million)
31 Benefits of Robotic Surgery System from Patient’s Perspective
32 Instruments & Accessories for Surgical Robotics Market, 2016-2025 ($Million)
33 Service & Maintenance Surgical Robotics Market, 2016-2025 ($Million)
34 Global Surgical Robotics Market by Application, 2016-2025 ($Million)
35 General Surgery Surgical Robotics Market, 2016-2025 ($Million)
36 Some of the General Surgery Robotic Systems and their Manufacturers
37 Interventional Cardiology Surgery Surgical Robotics Market, 2016-2025 ($Million)
38 Traditional PCI vs Robotic PCI
39 Interventional Cardiology Robotic Surgical System and their Manufacturers
40 Gynecological Surgery Surgical Robotics Market, 2016-2025 ($Million)
41 Some Surgical Robotic Systems for gynecology Procedures and their Manufacturers
42 Orthopedics Surgery Surgical Robotics Market, 2016-2025 ($Million)
43 Some of the Orthopedics Robotic Surgical System and their Manufacturers
44 Urology Surgery Surgical Robotics Market, 2016-2025 ($Million)
45 Some Surgical Robotic Systems for Urologic Procedures and their Manufacturers
46 Neurological Surgery Surgical Robotics Market, 2016-2025 ($Million)
47 Other Surgeries Surgical Robotics Market, 2016-2025 ($Million)
48 Global Surgical Robotics Market by End-User, 2016-2025 ($Million)
49 Hospital Surgical Robotics Market, 2016-2025 ($Million)
50 Robotic Surgery Advantages 
51 Hospitals Using Surgical Robotic Systems 
52 Ambulatory Surgical Centers Surgical Robotics Market, 2016-2025 ($Million)
53 Role of ASC Association
54 Others Surgical Robotics Market, 2016-2025 ($Million)
55 Global Surgical Robotics Market by Region, 2016-2025 ($Million)
56 North America Surgical Robotics Market, 2016-2025 ($Million)
57 North America Surgical Robotics Market by Country, 2016-2025 ($Million)
58 The U.S. Surgical Robotics Market, 2016-2025 ($Million)
59 Canada Surgical Robotics Market, 2016-2025 ($Million)
60 Europe Surgical Robotics Market, 2016-2025 ($Million)
61 Europe Surgical Robotics Market by Country, 2016-2025 ($Million)
62 Key Market Drivers in the European Countries
63 Some of the Restraining Factors for the Growth of this Market in Europe
64 Germany Surgical Robotics Market, 2016-2025 ($Million)
65 The U.K. Surgical Robotics Market, 2016-2025 ($Million)
66 France Surgical Robotics Market, 2016-2025 ($Million)
67 Italy Surgical Robotics Market, 2016-2025 ($Million)
68 Spain Surgical Robotics Market, 2016-2025 ($Million)
69 The Netherlands Surgical Robotics Market, 2016-2025 ($Million)
70 Belgium Surgical Robotics Market, 2016-2025 ($Million)
71 Rest of Europe Surgical Robotics Market, 2016-2025 ($Million)
72 Asia-Pacific Surgical Robotics Market, 2016-2025 ($Million)
73 Asia-Pacific Surgical Robotics Market by Country, 2016-2025 ($Million)
74 Market Dynamic (Asia-Pacific)
75 Japan Surgical Robotics Market, 2016-2025 ($Million)
76 China Surgical Robotics Market, 2016-2025 ($Million)
77 Australia Surgical Robotics Market, 2016-2025 ($Million)
78 South Korea Surgical Robotics Market, 2016-2025 ($Million)
79 India Surgical Robotics Market, 2016-2025 ($Million)
80 Rest of Asia Surgical Robotics Market, 2016-2025 ($Million)
81 Latin America Surgical Robotics Market, 2016-2025 ($Million)
82 Latin America Surgical Robotics Market by Country, 2016-2025 ($Million)
83 Brazil Surgical Robotics Market, 2016-2025 ($Million)
84 Mexico Surgical Robotics Market, 2016-2025 ($Million)
85 Rest of Latin America Surgical Robotics Market, 2016-2025 ($Million)
86 RoW Surgical Robotics Market, 2016-2025 ($Million)
87 RoW Surgical Robotics Market by Country, 2016-2025 ($Million)
88 Russia Surgical Robotics Market, 2016-2025 ($Million)
89 Kingdom of Saudi Arabia Surgical Robotics Market, 2016-2025 ($Million)
90 The U.A.E. Surgical Robotics Market, 2016-2025 ($Million)
91 Others Surgical Robotics Market, 2016-2025 ($Million)
92 Israel Surgical Robotics Market, 2016-2025 ($Million)
93 Accuray Inc. Product Mapping
94 Accuray Inc. Overall Financials (2015 - 2017)
95 Accuray Inc. Net Revenue, by Region (2015-2017)
96 Accuray Inc. SWOT Analysis 
97 Cambridge Medical Robotics Product Portfolio
98 Cambridge Medical Robotics Ltd. SWOT Analysis
99 Corindus Vascular Robotics Product Portfolio
100 Corindus Vascular Robotics Overall Financials (2014 - 2016)
101 Corindus Vascular Robotics, Inc. SWOT Analysis
102 Hansen Medical Product Portfolio
103 Hansen Medical Overall Financials (2014 - 2015)
104 Hansen Medical Net Revenue, by Region (2014-2015)
105 Hansen Medical SWOT Analysis
106 Intuitive Surgical Product Portfolio
107 Intuitive Surgical Overall Financials (2014 - 2016)
108 Intuitive Surgical Net Revenue, by Region (2014-2016)
109 Intuitive Surgical Inc. SWOT Analysis
110 Mazor Robotics Product Portfolio
111 Mazor Robotics Overall Financials (2014 - 2016)
112 Mazor Robotics Net Revenue, by Region (2014-2016)
113 Mazor Robotics Ltd. SWOT Analysis
114 Medrobotics Product Portfolio
115 Medrobotics Corporation SWOT Analysis
116 Medtech SA Product Portfolio
117 Medtech SA Overall Financials (2014 - 2015)
118 Medtech SA SWOT Analysis
119 Renishaw plc Product Portfolio
120 Renishaw plc Overall Financials (2015 - 2017)
121 Renishaw plc Net Revenues, by Business Segment (2015 - 2017)
122 Renishaw Net Revenue, by Region (2015-2017)
123 Renishaw plc. SWOT Analysis
124 Smith & Nephew plc Product Portfolio
125 Smith & Nephew plc Overall Financials (2014 - 2016)
126 Smith & Nephew plc Net Revenue, by Business Segment (2014 - 2016)
127 Smith & Nephew plc Net Revenue, by Region (2014-2016)
128 Smith & Nephew plc. SWOT Analysis
129 Stryker Corporation Product Portfolio
130 Stryker Corporation Overall Financials (2014 - 2016)
131 Stryker Corporation : Net Revenues, by Business Segment (2014 - 2016)
132 Stryker Corporation : Net Revenue, by Region (2014-2016)
133 Stryker Corporation SWOT Analysis
134 Synaptive Medical Product Portfolio
135 Think Surgical Inc. Product Portfolio
136 Think Surgical Inc. SWOT Analysis
137 Titan Medical Inc. Product Portfolio
138 Titan Medical Inc. Overall Financials (2014 - 2016)
139 Titan Medical Inc. SWOT Analysis
140 TransEnterix Inc. Product Portfolio
141 TransEnterix Inc. Overall Financials (2014 - 2016)
142 TransEnterix Inc. SWOT Analysis
143 Verb Surgical Product Portfolio
144 Verb Surgical SWOT Analysis

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Accuray Inc.
  • Endomaster Pte Ltd.
  • Mazor Robotics Ltd.
  • MicroSure
  • Smith & Nephew plc
  • Think Surgical Inc.
  • MORE

The medical industry, globally, has witnessed several technological advancements in the recent years in diversified branches. For instance, previously, surgeries were done by using open surgical procedures, which witnessed a noteworthy transformation when minimally invasive surgical procedures were introduced in the medical world. Medical robotics and computer assisted surgical systems stood distinctively as the most advanced extension of minimally invasive surgical procedures. These systems can be segmented into three types: rehabilitation systems, hospitals and pharmacy systems, and surgical robotics system. Among these, the surgical robotics systems are being widely adopted across the globe at present.

Factors such as rising demand of minimally invasive surgeries, rising incidence rate of chronic diseases, general awareness regarding computer aided surgeries, rising disposable income and introduction of technologically advanced systems, such as SurgiBot, Amadeus, Single Port Orifice Robotic Technology (SPORT), and Modus V, among others, are propelling the growth of this market.

Surgical robots increase the accuracy of surgeons while reducing the risk to the patients. For instance, heart bypass surgery requires the patient’s chest to be opened by making a long incision. The surgeon first cuts through skin, then tissue and muscle, then fascia, and then reaches the heart. However, through non-invasive surgical robots it becomes easy to perform critical surgeries with minimal incision and high accuracy. Surgical robots have several advantages such as decrease in post-operative pain, reduced risk of infection, and less blood loss. They provide effective representations of body parts and increase dexterity which aid the surgeons while working on inaccessible body parts. They also offer shorter recovery time and leave lesser scars as compared to the traditional open surgery.

With the rising incidence rate of chronic diseases and due to continuous technological advancements in medical surgeries, the demand for minimally invasive surgeries and miniature robotics is growing. As per the current scenario the high costs of robotic systems hinders the adoption of surgical robotics systems among the hospital and ambulatory surgical centers. However, with technological innovation and increasing demand for low cost surgical systems from end users, the price is likely to decrease in the near future.

Furthermore, the lack of clinical evidences on the efficacy of surgical robotic systems serves as a challenge for the market players to get regulatory approvals and clearance. However, newly established players are putting efforts to get necessary regulatory clearance to enter into the market and bring in clinical evidence in order to increase the adoption rate of surgical systems in the near future.

Rising incidences of colorectal cancer, neurological disorders, interventional cardiology disorders and gynecological diseases, growing geriatric population, and active participation of the government and the industry players in the technological advancement in the field of computer assisted robotic surgeries have boosted the overall growth of this market.

Another factor responsible for sustainable growth of the market is the recurring revenue model. In recurring revenue business model, the vendor makes money first through one time sale of the robotic system and then generates recurring revenue from the sale of equipment and accessory products and maintenance services used in the robotic system.

Some of the equipment and accessories of the robotic systems are required to be changed for each surgery. Consequently, the surgical robotics market has attracted considerable attention of the end-users and several new players have emerged in the market space. The key players in the global surgical robotics market are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics, MedRobotics, TransEnterix and Hansen Medical, among others.

The global surgical robotics market is expected to reach $12.60 billion by 2025. The market consists of various product segments such as surgical systems, instruments and accessories and maintenance services. The instruments and accessories segment had the highest market value in 2016, growing at the CAGR of 11.4% during the forecast period 2017-2025. However, services (maintenance and up-gradation) are expected to grow at the highest CAGR of 12.9% during the forecast period 2017-2025.

All the major surgical robotics systems have been covered into the global surgical robotics market volume data. The market for surgical systems by value is expected to grow at the CAGR of 12.3% during the forecast period, 2017-2025. Among all surgical systems, the da Vinci surgical system accounted for the highest installation volume in 2016 and is anticipated to reach 1,123 installation units in 2025, growing at the CAGR of 8%. This can be attributed to the increasing adoption rate of da Vinci surgical robotics system for increasing rate of general surgeries, gynecology, urology, cardiothoracic and head and neck medical complications. However, the Sensei Robotic System manufactured by Hansen Medical (Auris Surgical Robots) is anticipated to grow at the highest CAGR of 22%.

The application segment of the market consists of general surgery, gynecology, urology, orthopedics, interventional cardiology, and neurology, among others. The gynecology segment acquired the highest market value in 2016, and is expected to grow at the CAGR of 8.8% during the forecast period 2017-2025. This can be attributed to the increasing incidence rate of gynecological complications among women globally and continuous technological advancement in robotic systems. However, General Surgery is expected to be dominant with revenue generation of $4.22 billion by 2025. Further, the orthopedics segment is expected to witness the highest growth rate of 15.5% during the forecast period 2017-2025.

Furthermore, based on the application, gynecology accounted for the largest market share by robotic surgical procedural volume in 2016. However, General Surgical procedures is expected to be dominant with robotic surgical procedural volume of 717,550 by 2025.

The end-user segment comprises hospitals and ambulatory surgical centers and others. The hospitals accounted for the highest market value in 2016, growing at CAGR of 11.1% during the forecast period 2017-2025. However, the revenue generated by the ambulatory surgical center is anticipated to grow at the highest CAGR of 18.9% during the forecast period 2017-2025.

Furthermore, based on the end-user, hospitals accounted for the largest market share by robotic surgical system installation volume in 2016 and it anticipated to reach 1,816 units by 2025. However, robotic surgical system installation volume at ambulatory surgical centers are estimated to grow at the highest CAGR of 15.6%.

The geographical region consists of North America, Europe, Asia-Pacific, Latin America and Rest of the World (RoW). North America acquired the highest market value in 2016, and is anticipated to grow at the CAGR of 11% during the forecast period 2017-2025. The Asia-Pacific region (consisting of Japan, China, Australia, India and South Korea, among others) as well as Latin America (consisting of Brazil and Mexico, among others) are each expected to register a high growth rate of 14% during the forecast period 2017-2025.

Based on the geography, North America accounted for the largest market share by robotic surgical system installation volume in 2016 and it anticipated to reach robotic surgical system installation volume of 1092 units by 2025. However, Asia-Pacific and Latin America are anticipated to grow at the highest CAGR of 12% during the forecast period 2017-2025. This can be attributed to the increasing incidence rate of chronic diseases, technological advancements in the robotic assistive technologies and rising disposable income in these regions.

The advancements in robotic surgery systems make them capable of replicating the tactile feel and sensation, which a surgeon experiences during the more invasive traditional procedures. Consequently, this enables the surgeons gain the precision and advantages of minimally invasive procedures without losing the sensory information that is helpful in making the correct judgment during the robotic surgery.

Business expansions and contracts market strategy currently dominate the market, followed by approvals and certifications. Companies also rely heavily on product launches and technological developments in order to sustain their position and to enhance their business strength and outreach. The company Intuitive Surgical is currently holds a strong market position and accounts for approximately 70% of recurring revenues. As per the current market scenario, it is important for the new players to focus on forming strategic partnerships and developing low cost surgical robotics systems that can be used in multiple types surgical procedures.

The market has a plethora of opportunities to grow as the demand for minimally invasive cancer procedures is booming. Also, hospitals and clinics are extensively purchasing surgical robots to train their surgical teams. There is a huge addressable market that is still under-penetrated. In the U.S. alone there are more than 3,000 hospitals and 5,000 clinics without any robotic surgery programs.

Note: Product cover images may vary from those shown
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  •  Accuray Inc.
  •  Applied Dexterity
  •  Auris Surgical Robotics
  •  Cambridge Medical Robotics Ltd.
  •  Corindus Vascular Robotics Inc.
  •  Dexterite Surgical
  •  Endomaster Pte Ltd.
  •  Hansen Medical
  •  Honeybee Robotics
  •  Intuitive Surgical Inc.
  •  Mazor Robotics Ltd.
  •  Medrobotics Corporation
  •  Medtech SA
  •  Medtronic
  •  MicroSure
  •  Mimic Technologies
  •  Preceyes BV
  •  Renishaw plc
  •  SRI International
  •  Smith & Nephew plc
  •  Stryker Corporation
  •  Synaptive Medical Inc.
  •  Think Surgical Inc.
  •  Titan Medical Inc.
  •  TransEnterix Inc.
  •  Verb Surgical
  •  Virtual Incision Corporation
  •  Zimmer Biomet Holdings Inc.
Note: Product cover images may vary from those shown
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The methodology is available for download below.
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Note: Product cover images may vary from those shown
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