Surgical Robots Market 2020 Global Leading Players, Industry Updates, Developments and Future Investments by Forecast to 2026
The global surgical robots market is poised to touch USD 6,875.1 million by 2026, displaying a CAGR of 21.4% during the forecast period. One of the key factors driving the surgical robots market growth is the rising prevalence of non-communicable or chronic diseases (NCDs) such as cancer, diabetes, and COPD. According to the World Health Organization (WHO), chronic diseases are responsible for about 71% of global deaths every year. These diseases require intense medication and in most cases, surgery is the only available option. The World Economic Forum estimates that 1 in every 3 adults globally suffers from multiple chronic conditions, increasing annual healthcare costs between 80 and 300%. Since chronic diseases can require multiple surgical procedures, patients are now demanding minimally invasive techniques to reduce their suffering. Surgical robots are an important milestone in this regard.
The report covers:
- Global Surgical Robots Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Surgical Robots Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Zimmer Biomet
- THINK Surgical, Inc.
- Intuitive Surgical, Inc.
- Smith & Nephew
- Verb Surgical, Inc.
- Stryker
- Transenterix Surgical, Inc.
Rising Geriatric Population to Swell the Market
Increasing number of aging people is giving rise to critical challenges to healthcare systems all around the world. According to the WHO, by 2050, number of people above the age of 60 will have reached 22%, almost double the current number. Furthermore, the WHO estimates that by 2020 itself, people aged 60 and above will outnumber children under the age of 5. As a person ages, she becomes more vulnerable to different kinds of communicable and non-communicable diseases most of which require surgeries, such as cataract and diabetic retinopathy. Since their bodies are not strong enough to bear the trauma of a traditional surgery, geriatric people are increasingly relying on advancements in minimally invasive surgical procedures to reduce their pain. In this context, surgical robots can play a crucial role as they can make surgeries as minimally invasive as possible. This is likely to expand the surgical robots market size during the forecast period.
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High Incidence of Cardiovascular Diseases to Fuel the Market in North America
Having generated a revenue of USD 1,045.5 million in 2018, North America is projected to hold the largest portion of the global surgical robots market share in the stipulated period. The main reason for this performance is the high prevalence of cardiovascular diseases in the US. The American Heart Association estimates that 98 million Americans suffer from some or the other cardiovascular diseases. In Asia-Pacific, massive cancer research funding and increasing healthcare expenditure by governments will result in impressive growth of the region, in terms of CAGR. While Europe is expected to experience a weakened market position, Africa and the Middle East are set to enlarge their share in this market.
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Surgical Robots Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Surgical Robots Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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