Surgical Robotic Systems Market Projected to Surpass USD 15.01 Billion by 2027

PORTLAND, OREGON, UNITED STATES, February 27, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Surgical Robots Market by Component and Application: Opportunity Analysis and Industry Forecast, 2019-2027,” the global surgical robotic system market size was valued at $5.34 billion in 2019, and is expected to reach $15.01 billion by 2027 at a CAGR of 13.7% during the forecast period.

The utilization of surgical robotic systems, an advanced technological solution, has become integral in complex surgical procedures. Comprising components such as surgeons' consoles, surgical arms, and monitoring systems & software, this innovative approach has gained significant traction in recent years. Factors driving the growth of the global surgical robotic systems market include rapid technological advancements, increased R&D investments, and its extensive application in critical surgeries like cardiac, orthopedic, and neurosurgery. Additionally, the wide scope of applications across various surgeries, growing demands for advanced medical facilities, and rising incidences of diseases such as cancer and obesity further bolster market expansion.

𝑹𝒆𝒒𝒖𝒆𝒔𝒕 𝑺𝒂𝒎𝒑𝒍𝒆 𝑪𝒐𝒑𝒚 𝒐𝒇 𝑹𝒆𝒑𝒐𝒓𝒕 https://www.alliedmarketresearch.com/request-sample/A06827

However, challenges such as the high costs associated with surgical robotic procedures, lack of awareness, and insufficient availability of trained personnel hinder market growth. The market is segmented based on components, surgery types, and regions. Components include systems, accessories, and services, with the accessories segment holding the highest market share in 2019 due to increased adoption of surgical robotic systems in Tier-1 hospitals and the demand for efficient replaceable components. Services are expected to witness the fastest growth during the forecast period as maintenance is essential for sustaining system performance.

Regarding surgery types, gynecology surgery dominated in 2019, while orthopedic surgery is projected to exhibit the highest compound annual growth rate (CAGR) of 14.5% during the forecast period. This growth is attributed to a large patient population undergoing robotic surgical procedures, shorter healing times, and fewer post-surgical complications associated with orthopedic surgeries.

𝑲𝒆𝒚 𝑷𝒍𝒂𝒚𝒆𝒓𝒔 𝒊𝒏 𝒕𝒉𝒆 𝑴𝒂𝒓𝒌𝒆𝒕
Johnson & Johnson
GLOBUS MEDICAL, INC
Titan Medical Inc.
Transenterix, Inc.
Smith & Nephew
Medtronic Plc.
Stryker Corporation
Siemens AG (Siemens Healthineers)
INTUITIVE SURGICAL, INC.
Zimmer Biomet Holdings, Inc.

𝑲𝒆𝒚 𝑭𝒊𝒏𝒅𝒊𝒏𝒈𝒔 𝑶𝒇 𝑻𝒉𝒆 𝑺𝒕𝒖𝒅𝒚
By Component, the accessories segment occupied 13.6% share of the surgical robotic systems market in 2019.
By application, the orthopedic surgery segment is anticipated to grow with the highest CAGR throughout the forecast period.
By region, North America is anticipated to experience growth at 13.4% during the forecast period.

𝑲𝒆𝒚 𝑩𝒆𝒏𝒆𝒇𝒊𝒕𝒔 𝑭𝒐𝒓 𝑺𝒕𝒂𝒌𝒆𝒉𝒐𝒍𝒅𝒆𝒓𝒔
The study provides an in-depth analysis of the global surgical robotic systems market along with the current trends and future estimations to elucidate the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the surgical robotic systems market growth is provided in the report.
The surgical robotic systems market forecast is studied from 2020 to 2027.
Comprehensive quantitative analysis of the industry from 2019 to 2027 is provided to enable the stakeholders to capitalize on the prevailing surgical robotic systems market opportunities.
Extensive analysis of the key segments of the surgical robotic systems industry helps to understand the application and products of surgical robotics that are used across the globe.
Key market players and their strategies have been analyzed to understand the competitive outlook of the surgical robotic systems market.

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David Correa
Allied Market Research
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