Robotic Surgery Devices Market 2020 Highlights Recent Trends, Market Growth, Business Opportunities till 2030; Intuitive Surgical, Inc. (NASDAQ:ISRG) (US), Stryker Corp.(NYSE:SYK) (US), Medtronic PLC(NYSE:MDT) (Ireland)

By: X herald

MarketInsightsReport has published a report titled Global Robotic Surgery Devices Market research report 2020 that is a detailed observation of several aspects, including the rate of growth, technological advances, and different methodologies implemented by the primary current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The global robotic surgery devices market is expected to decline from $5.04 billion in 2019 to $4.84 billion in 2020 at a rate -3.91%. 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 stabilize and reach $7.71 billion in 2023 at CAGR of 16.81%.

Top Companies in the global Robotic Surgery Devices Market are
Intuitive Surgical, Inc. (NASDAQ:ISRG) (US), Stryker Corp.(NYSE:SYK) (US), Medtronic PLC(NYSE:MDT) (Ireland), Smith & Nephew (UK), TransEnterix (US), Mazor Robotics (US, Medrobotics (US), Accuray (US), THINK Surgical (US), and Others.

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The robotic surgery devices market consists of sales of robotic systems, instruments and accessories and services related to the robotic surgery devices market. Robotic surgery devices are advanced surgical devices compared to traditional laparoscopic surgery devices. These devices are used for Minimally Invasive (MI) surgeries in the eye, brain, heart and other parts of the body.

North America was the largest region in the robotic surgery devices market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.
The advances in surgical products and technologies in the health care industry are creating more opportunities in the robotic surgery devices market. Increasing investments in R&D is helping investors to create value for the customers by producing medical-surgical products like robotic surgery devices by using the latest technologies. With the use of robotic systems that are equipped with optical imaging, surgical tools, instruments, and accessories, the surgeries are made easier. Some of the surgical advances that are creating more value and opportunity in the healthcare industry include 3-D high definition endoscope (Multi-Angle Rear-Viewing Endoscopic tool) devices for Brain surgery, Smart surgical glasses (equipped with a video camera and Head-mounted monitor) that act as computers and can used for live observation of surgeries, surgical robots with artificial intelligence that acts as doctors, and humanoid robots which are used for highly critical surgeries in eye and brain.

Expensive robotic surgery is hampering the robotic surgery devices market. Robotic surgery is comparatively more expensive than other traditional ways of surgeries as it is associated with a lot of complications, requires highly trained senior doctors to operate robotic systems/instruments, complex technical operation, and maintenance. A single robotic system costs around $2 million and the surgery costs about a range of $3000 – $6000. The annual maintenance cost of robotic surgery devices usually costs between $100,000 – $170,000. The largest robotic surgery device manufacturer Intuitive Surgical supplies the single-use or disposable surgical tools used for robotic arms for surgeries. This is one of the reasons that robotic surgeries are more costly. The huge cost associated with robotic surgeries is therefore hindering the market growth.

Robotic surgeries were introduced to reduce patient hospital length of stay (LOS), pain, complications, return to work time, and reoperations. According to the Intuitive Surgical company report, there is a 24% growth year on year for instruments and accessories. For robotic systems, the company has gained 16% growth and overall robotic surgery devices market is growing at a rate of 13% -16%. The Intuitive Surgical company estimates that more than 1.2 million surgical procedures were done by using their robotic systems.

Markets Covered:
1) By Product and Service: Robotic systems; Instruments & Accessories; Services
2) By Surgery Type: Urological surgery; Gynecological surgery; Orthopedic surgery; Neurosurgery; Others

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Regions covered By Robotic Surgery Devices Market Report 2020 To 2030 are
North America (The United States, Canada, and Mexico), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Central & South America (Brazil, and Rest of South America), and Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

Effect of the Robotic Surgery Devices market report is
– A comprehensive evaluation of all opportunities and risks in the market.
– Robotic Surgery Devices market current developments and significant occasions.
– A deep study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the market for approaching years.
– Top to the bottom approach of market-express drivers, targets, and major littler scale markets.
– Favorable impressions inside imperative mechanical and publicize the latest examples striking the market.

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