Robotic Surgery Services Market Global Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s Robotic Surgery Services Market Global Report 2020-30: Covid 19 Growth And Change

LONDON, GREATER LONDON, UK, July 27, 2020 /EINPresswire.com/ -- An image guide navigation system combined with robotic surgery system offers more possibility to visualize and perform minimally invasive surgery in areas which were earlier difficult, especially orthopedic surgeries and neurosurgeries. For example, the Mazor X Stealth system by Medtronic, and the NuVasive’s Pulse and Excelsius GPS by Globus Medical use image guided navigation system to perform spine surgeries and orthopedic implant surgeries such as total, partial knee and hip replacements, as they provide the surgeon with 3D experience. The image-guided navigation reduces radiation effects and patients do not require to take an X-ray after the procedure. These factors state that the image guided navigation system is expected to be a trend in the robotic surgery services market.

The global robotic surgery services market size is expected to decline from $0.71 billion in 2019 to $0.57 billion in 2020 at a compound annual growth rate (CAGR) of -19.04%. The decline is mainly due to the Covid-19 outbreak resulting in other patients delaying their episodes of care. The market is then expected to recover and reach $1.03 billion in 2023 at CAGR of 21.55%.

Increase in purchasing power of hospitals and ambulatory care services providers has contributed to the robotic surgery service market growth. Hospitals and ambulatory care services providers are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. According to Intuitive Surgical’s (a robotic surgical giant) fourth quarter financial results in 2019, the company has shipped around 336 DA Vinci systems - a robotic surgical system - during the quarter when compared to 290 during the fourth quarter of 2018.

It has almost 5,582 DA Vinci systems installed, with a 12% year-over-year increase. More than 1 million procedures were performed around the world with the DA Vinci in 2018 from 136,000 in 2008. The need for more minimally invasive surgery by the growing geriatric population, coupled with the prevalence of chronic disease such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the demand for robotic surgery services. According to the World Health Organization (WHO) report, there will be a 57% increase in chronic illness. Therefore, the purchasing power of hospital and ambulatory care services providers, coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of robotic surgery services industry.

The robotic surgery services market consists of the sale of services provided using robotic surgical technology, the highly advanced technological form of non-invasive surgery that utilizes robots and computer systems to conduct surgeries with lesser incision and more precision. The commonly used robotic surgical system consists of a mechanical arm and camera arm attached to surgical instruments, controlled by a surgeon being seated at a computer console which is usually in the same room as the surgical table, but can also be around the world.

The robotic surgery services market is segmented by application into general surgery, urological surgery, gynecological surgery, orthopedic surgery, neurosurgery, and other applications. By end-users, it is segmented into hospitals and ambulatory surgery centers (ASCS).

Here Is A List Of Similar Reports By The Business Research Company:

Robotic Surgery Devices Market Global Report 2020-30: Covid 19 Growth And Change (https://www.thebusinessresearchcompany.com/report/robotic-surgery-devices-market-global-report-2020-30-covid-19-growth-and-change)

Minimal Invasive Surgery Devices Global Market Report 2020 (https://www.thebusinessresearchcompany.com/report/minimal-invasive-surgery-devices-global-market-report)

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The Business Research Company
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