In a recent published report, Kenneth Research has updated the market report for Surgical Robot Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Surgical Robot Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Surgical Robot Market was valued at USD 6.5 Billion in the year 2017. Global Surgical Robot Market is further estimated to grow at a CAGR of 20.6% from 2019 to reach USD 28.92 Billion by the year 2025. Asia-Pacific region holds the highest Market share in 2017 and Asia-Pacific Market is considered as the fastest growing Market in the forecasted period. At country level China, Japan, India are projected to grow strongly in the coming years.
Major market players in Surgical Robots Verb Surgical Inc., Auris Health Inc., Medrobotics Corp., Virtual Incision Corp., THINK Surgical Inc., Titan Medical Inc., Hansen Medical, TransEnterix Surgical Inc., Mazor Robotics, Stereotaxis Inc., Accuray Incorporated, and brief overview of 9 companies is also provided in the report. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Surgical Robot Market:
Strength:
Adoption of robotics in Healthcare sectors
Increasing accuracy for health concerns
Weakness:
Higher Cost and maintenance
Opportunities:
Growth in Healthcare Market
Threats:
Government Regulations and norms.
The Global Surgical Robot Market is segmented on the basis of surgery type, component, system type and region. The major shares of the Market comes from da Vinci Surgical system, by system type in Global Surgical Robot Market. On the other hand, Services, by component for this Market is expected to grow at highest CAGR during year 2019-2025.
Surgical Robots Market Segmentation:
By Component
*Accessories & Instrument
*Surgical Systems
*Services
By System Type
*Telesurgical System
*Supervisory-controlled system
*ZEUS Robotic Surgical System
*da Vinci Surgical system
*AESOP Robotic system
*Shared-control system
By Surgery Type
*General Surgery
*Neurosurgery
*Gynecological Surgery
*Orthopedic surgery
*Urological surgery
*Radiological surgery
*Others
By Region
*North America
o USA
o Canada
*Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
*APAC
o China
o India
o Japan
o Rest of Asia-Pacific
*RoW
o Latin America
o Middle East & Africa
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