Market Size – USD 1.94 Billion in 2019, Market Growth - CAGR of 21.7% Market Trends– Favorable government initiatives for surgical robots

NEW YORK, NEW YORK, UNITED STATES, September 30, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Surgical Robotics and Navigation Market valued at USD 1.94 billion in 2019 and is expected to reach USD 9.47 billion by the year 2027, at a CAGR of 21.7%. Surgical robotics and navigation is an advanced technology, primarily used in neurosurgery. In Robotic surgery, surgeons use the computer to control small instruments attached to a robot it is also known as computer guided minimally invasive surgery. Rise in automation in the healthcare sector, high demand for minimally invasive treatments, and adoption of advanced technology in both developed and developing economies are expected to boost the surgical robotics and navigation market growth. The major reason for non-compliance of surgical procedures is pain assisted with invasive method. To acquire the major user acceptance market players in surgical robotics and navigation market are more focused in developing non-invasive and portable robotic platform. For instance, Versius Robotic System from CMR Surgical a UK based company has been used by NHS surgeons for minimal access surgery (MAS) in 2019. The portable design of robotic device permits free movement within ward and between various hospitals also help easy access in keyhole surgery.

Several development of user friendly and technologically developed robotic platforms to capture need gap is one of the major factor driving the market growth. For instance, Senhance Surgical Robotic System a U.S. based company has received Japanese approval for its TransEnterix‘s Senhance robot-assisted surgery device for several procedures. However, the majority of surgeons are unaware of the use of robotics in healthcare, and mechanical failures associated with surgeries are likely to restrain the market.

The COVID-19 Impact:

COVID-19 has impacted several countries significantly at an exponential rate with more than 800,000 infected cases worldwide. According to the several recommendations circulated by the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) and European Association for Endoscopic Surgery (EAES)the surgical robotics and navigation market might experience a slight declined demand. The organizations recommend to abort unnecessary and elective surgical and endoscopic cases. Although the decisions are up to the local authorities and as per the severity in the region. Moreover, the emergency cases such as active malignancy or symptoms that require urgent care can be operated.

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The global Surgical Robotics and Navigation market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.

The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.

Competitive Landscape:

The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.

Further key findings from the report suggest

In the year 2019, a group of Bioengineers from Boston Children's Hospital had developed a robot with an ability to navigate autonomously inside the body. They had used an animal model for cardiac valve repair; the team had projected a robotic catheter to find the way along the walls of a beating, blood-filled heart to a leaky valve without the guidance of the physician. The robotic catheter had successfully navigated to the heart valve leaks in repeated trials and had required approximately similar time as that of the surgeon The sensor was present to assist the catheter to analyze the blood, the cardiac wall, or a valve, and how hard to push in order to prevent the heart from being damaged

Zimmer Biomet Holdings, Inc in 2019, announced the U.S. Food and Drug Administration 510(k) clearance of the ROSA Knee System for robotically-assisted total knee replacement surgeries. ROSA Knee is a 3D pre-operative planning tool,it was designed to improve bone cut accuracy and range of motion gap analysis to potentially improve flexion and restoration of natural joint movement it is also used in brain-related surgeries.

Medtronic has acquired in 2018 Mazor Robotics in a robot-assisted surgery platform. Medtronic, acquisition was to develop fully-integrated surgical planning, to unite spine technologies with Mazor robotic system. Mazor X has received 510(k) clearance from the FDA, Mazor X and Stealth are used together in the robotic-assisted surgery.

North America has obtained a significant share in the Surgical Robotics and Navigation market of about 47.2% due to the increase in the number of hospitals adopting robot-assisted surgeries, rise in the per capita income, and due to government initiatives for robotic inventions.

Spinal Surgical Navigation in the type segment have obtained a significant market owing to the increase in spine-related disorders and also due to better accuracy and precision obtained in the surgery.

Hospitals in the End use segment have obtained the largest market as most of the surgeries are performed in the hospitals and, surgeons adapting to the robot-assisted method for performing surgeries.

Medrobotics (U.S.), Procept BioRobotics (U.S.), Verb Surgical (U.S.), DePuy Synthes (U.S.), BrainLab (Germany), Titan Medical (Canada), Zimmer Biomet (U.S.), Globus Medical (U.S.), Auris Health (U.S.), TransEnterix (U.S.), Globus Medical (U.S.), CMR Surgical (U.K), Getinge (Sweden), Blue Belt Technologies (U.S.), ELMED Medical(U.S.), are the key layers in Surgical Robotics and Navigation market

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For the purpose of this purpose, Reports and Data have segmented the Surgical Robotics and Navigation Systems market on the basis of types, applications end use and region.

Types Outlook (Revenue in Million USD; 2017–2027)

Neurosurgery Navigation

Spinal Surgical Navigation

ENT Surgical Navigation

Orthopedic Surgical Navigation

Robotic-Assisted Spinal Surgery Systems

Robotic-Assisted Neurosurgery System

Robotic Radiosurgery System

Others

Applications Outlook (Revenue in Million USD; 2017–2027)

Pediatric

Adults

Geriatric

End Use Outlook (Revenue in Million USD; 2017–2027)

Hospitals

Clinics

Others

Key Regional Markets:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Key findings in the report:

Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities

Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing

Technological developments and detailed analysis in the volatile competitive landscape.

New strategies adopted by new and emerging market players

Estimation about manufactures, sales and import and export dynamics

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