Surgical Robotics Market is expected to demonstrate a CAGR of 8.9% by 2030

The Global Surgical Robotics Market held USD 71.24 million in 2019 and is predicted to reach USD 181.98 million by 2030 with a CAGR of 8.9% from 2020-2030.

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Robotics technology is being acquainted with the drug since they take into consideration remarkable control and accuracy of surgical instruments in insignificantly obtrusive techniques. Surgical robots can perform complex techniques with geometrical exactness, even in anatomical territories that are hard to reach by human specialists.

The repetitive buying of instruments and accessories for each procedure due to their disposable nature will essentially support the demand for consumables. The expanding preference for minimally invasive robotic-assisted surgery is anticipated to fuel the surgical robotics market size.

The factors including advantages offered by surgical robots, technological advancements, and the increase in funding for surgical robot research has majorly driven the surgical robotics market. Further, high precision and accuracy as compared to conventional procedures have led to a rising in the demand of surgical robotics. However, the high cost of robotic systems is hampering the growth of the surgical robotics market. The low penetration of surgical robots in ambulatory surgery centers will create new opportunities for market growth in the future.

The surgical robotics market is segmented on the basis of the component, surgery type, end user, and geography. On the basis of the component, the market is segmented into robotic systems, instruments & accessories, and services. The surgery type segment is further divided gynecology surgery, urology surgery, gynecological surgery, neurosurgery, orthopedic surgery, general surgery, and others. On the basis of the end user, the market covers hospitals and ambulatory surgical centers. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and ROW.

North America is anticipated to hold the highest surgical robotics market share during the forecast period. This is attributable to the factors including enhanced developments in healthcare and related infrastructure, increase in adoption of surgical robotic systems in healthcare, high R&D investments, and high consumer awareness.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to improvement in public & private healthcare facility, and increasing need for automation in healthcare.

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Comprehensive competitive analysis and profiles of the major market players such as Auris Surgical Robotics, Inc., Intuitive Surgical, Inc., THINK Surgical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew Plc., Mazor Robotics, Renishaw plc, KUKA AG, Stryker Corporation, Medtronic plc, and others are provided in the surgical robotics market report.