Sluggish CAGR Projected for Robotic Surgery Market By 2020

Robotic surgery is a method of use of robotic arms to perform surgery. Robotic surgery is a computer controlled minimally invasive surgical procedure. Some of the advantages for surgeons of robotic surgery are greater visualization, enhanced dexterity and greater precision. Robotic surgery helps patient to reduce hospital stay, post operative complications and pain, blood loss and transfusions. On the basis of application, robotic surgery market can be segmented into neurology, laparoscopy, orthopedics, special education and others.

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North America, followed by Europe, has the largest market for robotic surgery due to developed healthcare infrastructure, increasing incidence of chronic diseases and technological advancement in the region. Asia is expected to show high growth rate in the robotic surgery market in next few years due to government initiatives and rise in awareness about robot-assisted minimally invasive surgeries in this region.

Rise in healthcare expenditure, growing elderly population, technological advancement, increasing incidence of chronic diseases, rise in consumer spending in healthcare, high incidence of medication errors and growing demand for robot assisted surgical systems are expected to drive the market for robotic surgery. In addition, rise in need for faster recovery, reduce pain and discomfort and increasing awareness about benefits of robotic surgery are expected to drive the market for robotic surgery. However, strict government regulations, high implementation cost and lack of skilled professionals are some of the factors restraining the growth for global robotic surgery market.

Growing demographics and economies in the developing countries such as China, Japan and India is expected to offer good opportunities in robotic surgery market in Asia. In addition, rise in demand for robotic instruments and increasing use of nanorobots in surgery is expected to offer new opportunities for global robotic surgery market. New product launches, increasing number of collaborations and partnerships and rise in number of mergers and acquisitions are some of the latest trends that have been observed in global robotic surgery market. Some of the major companies operating in the global robotic surgery market are Intuitive Surgical, Inc., Hansen Medical, Inc., MAKO Surgical Corp., Accuray, Inc., Health Robotics S.R.L., Mazor Robotics Ltd., Renishaw plc, Medrobotics Corporation, Titan Medical Inc. and OR Productivity Plc.

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