“Final Report will add the analysis of the impact of COVID-19 on industry.”
Report Ocean has recently published a comprehensive study on the Surgical Robotics Market, covering the prediction period of 2023-2031. Throughout the years, this report has diligently examined the industry, taking into account various factors such as macroeconomic parameters, consumer buying patterns, microeconomic parameters, GDP growth rate, inflation rate, and market demand-supply scenarios.
market players, such as [Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Asensus Surgical, Medrobotics Corporation, ReWalk Robotics, Diligent Robotics, Inc., Ekso Bionics Holdings Inc., Sarcos Robotics, Barrett Technology, Smith & Nephew, Medicaroid Corporation, avateramedical Gmbh, National Scientific Instruments And Materials Corporation (CSIMC), Microsure, Corindus Vascular Robotics, OMNIlife Science, Preceyes BV, Titan Medical
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
Download Free Sample of This Strategic Report:https://reportocean.com/industry-verticals/sample-request?report_id=MR422
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Surgical Robotics Market is Forecast to Grow at a CAGR of 18.4% until 2028
The global surgical robotics market is growing at a high CAGR because of the rising demand for surgical procedures and high shortage of professional surgeons, globally
A recent study conducted by the strategic consulting and market research firm,Report Ocean, revealed that the global surgical robotics market was worth USD 5.8 billion in the year 2021 and is projected to grow at a CAGR of 18.40%, earning revenues of around USD 18.2 billion by the end of 2028. The growth of the global surgical robotics market is attributed to the rising demand for surgical procedures due to the increasing prevalence of various chronic diseases along with shortages of professional surgeons across the globe. Furthermore, rapid innovations and extensive research and development activities in surgical robotics are anticipated to present lucrative growth opportunities for the surgical robotics market.
Expanding Growth Potential In Emerging Economies Is Present Lucrative Growth Opportunities To The Market
The emerging economies such as China, India, Japan, South Korea, etc., are significantly investing in their healthcare sector. These countries are funding the adoption of advanced medical tools including surgical robotics, which is driving the overall market growth. Furthermore, emerging economies are also attractive destinations for medical tourism. As a result, the demand for surgical procedures is also surging here, which is anticipated to fuel the surgical robotics market in the forecast period.
Request To Download Sample of This Strategic Report:-https://reportocean.com/industry-verticals/sample-request?report_id=MR422
Shortage of Skilled Surgeons Is Driving the Surgical Robotics Market
The huge gap between demand for surgical procedures and the availability of skilled surgeons is emerging as the major driving factor for the surgical robotics market. Gaining skills as surgeons require years of training, which consumes a lot of time. However, by deploying surgical robotics for performing procedures, the healthcare industry can address this issue. The surgical robotics manufacturers are expanding their production to meet this growing demand, which is significantly driving the overall market growth.
Surgical Robotics Market – By Application
Based on application, the surgical robotics market is segmented into general surgery, gynecological surgery, orthopedic surgery, urological surgery, neurosurgery, and other applications. The general surgery segment accounts for the largest market share. This type of surgery includes a wide range of procedures such as Ambulatory Phlebectomy, Breast Biopsy, Core, Hemorrhoids, Laparoscopic Cholecystectomy, Colon Cancer Surgery, etc. The increasing burden of surgery worldwide is prompting healthcare systems to adopt surgical robotics in general procedures, which is driving the overall market growth.
Surgical Robotics Market – Regional Insights
Geographically, the surgical robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the surgical robotics market owing to the increasing prevalence of various chronic diseases and rising private investment towards surgical robotics to advance the healthcare infrastructure. The increasing demand for minimally invasive surgeries also acts as a major driving factor for the demand for surgical robotics in this region. Following North America, Europe also covers a substantial market share.
Market Segment:
By Product & Service(Instruments & Accessories, Robotic Systems, Services),
By Application(General Surgery, Gynecological Surgery, Orthopedic Surgery, Urological Surgery, Neurosurgery, Other Applications)
By Region(North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Impact of COVID-19 on Surgical Robotics Market
The COVID-19 pandemic outbreak initially negatively impacted the growth of the surgical robotics market. This is because all the electric surgical procedures were postponed due to the high risk of virus transmission during the pandemic. Furthermore, the healthcare facilities were also focusing on handling the overwhelming number of COVID-19 patients. Due to this, the demand for surgical robotics registered a significant fall. However, the market is anticipated to flourish significantly over the forecast period as the use of surgical robotics will help in facilitating contactless medical procedures.
Get a Request Sample Report:–https://reportocean.com/industry-verticals/sample-request?report_id=MR422
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Reasons to Buy:
Informed decision-making: Market research reports provide valuable insights into industry trends, customer behavior, and competitor analysis. This information can help businesses make informed decisions about product development, pricing, and marketing strategies.
Competitive advantage: By identifying market gaps and opportunities, market research reports can provide a competitive advantage that can help businesses differentiate themselves from their competitors and gain a larger share of the market.
Industry expertise: Market research reports are prepared by industry experts who have a deep understanding of the market and its dynamics. These reports provide an unbiased and objective view of the industry, which can be invaluable for businesses that want to gain a deeper understanding of the market.
Saves time and money: Conducting market research can be time-consuming and expensive. By purchasing a market research report, businesses can save time and money by accessing a comprehensive and detailed analysis of the market.Risk management : Market research reports can help businesses manage risks associated with market entry, product development, and expansion. By providing a detailed analysis of the market and its trends, businesses can make informed decisions that minimize risks and maximize returns.
Request full Report– https://reportocean.com/industry-verticals/sample-request?report_id=MR422
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com