Major players in the robotic surgery devices market are Intuitive Surgical (US), Stryker (US), Medtronic (Ireland), Smith & Nephew (UK), Trans Enterix (US), Mazor Robotics (US, Medrobotics (US), Accuray (US), and THINK Surgical (US).
The global
robotic surgery devices market is expected to decline from USD 5.04
billion in 2019 to USD 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 USD 7.71
billion in 2023 at CAGR of 16.81%.
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. These robotic surgery devices can be applied
in Gynecological, Neuro, Orthopedic, and general surgeries. The robotic surgery
devices are more cost-effective and introduced to reduce complications, Pain,
reoperations, etc.
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. The other advanced
surgical tool is remote robotics, which is used to assist with surgery from any
remote location. Therefore, the robotic surgery devices are playing an
important role in the healthcare industry with their technological advancements
and innovations.
The robotic surgery devices market
covered in this report is segmented by product and service into robotic
systems, instruments & accessories, services and by surgery type into
urological surgery, gynecological surgery, orthopedic surgery, neurosurgery,
other applications.
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 USD 2 million and the surgery costs about a range of USD 3000-USD 6000.
The annual maintenance cost of robotic surgery devices usually costs between
USD 100,000-USD 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.
In July 2019, Intuitive Surgical
Inc. is an American corporation that develops, manufactures, and markets
robotic products that have acquired Scholly Fiberoptic's robotic endoscope
business. Scholly Fiberoptic is a major player in the visualization systems for
Minimally Invasive (MI) diagnostic and surgical applications. This acquisition
integrated Scholly's robotic endoscope manufacturing line, and two Scholly
sites into some of the Intuitive operations which are the robotic-related
manufacturing line from Denzlingen (Germany) , the manufacturing site in
Biebertal (Germany) and the repair site in Worcester, Mass (USA). The
acquisition's main aim is to strengthen the Intuitive's supply chain and
increase its manufacturing capacity for visualization products to advance
healthcare.
The rise in demand for minimally
invasive technology is driving the robotic surgery devices market. Minimally
Invasive (MI) surgery devices are equipped with imaging and catheter
technologies that can be easily inserted into any parts of the body. Robotic surgery
procedures are usually associated with minimally invasive surgeries. These
technologies are mainly used for Heart, Laparoscopy, Orthopedic, Gynecological,
and Urological surgeries. 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. Consumer preferences are changing and hospitals are adopting robotic
surgery devices to create more value and cost-effective surgical procedures.
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Global
Robotic Surgery Devices Market
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