Robotic Assisted Surgery Systems Market Analysis

1. Market Size & CAGR of Robotic Assisted Surgery Systems Market in 2021

According to the latest research data, the global robotic assisted surgery systems market is estimated to have a Compound Annual Growth Rate (CAGR) of 8.5% in 2021. The market size for robotic assisted surgery systems is projected to reach USD 11.2 billion by the end of 2021.

2. COVID-19 Impact on the Robotic Assisted Surgery Systems Market

The COVID-19 pandemic has significantly impacted the robotic assisted surgery systems market. Due to the lockdowns and restrictions on elective surgeries, there was a temporary decline in the adoption of robotic surgery systems in hospitals. However, with the gradual resumption of elective procedures and the emphasis on minimizing contact between healthcare providers and patients, the demand for robotic assisted surgery systems is expected to rebound.

3. Robotic Assisted Surgery Systems Dynamics

The dynamics of the robotic assisted surgery systems market are driven by technological advancements in surgical robotics, increasing prevalence of complex surgical procedures, and the benefits of minimally invasive surgeries. The market is also influenced by the growing investments in healthcare infrastructure and the rising demand for precision and accuracy in surgical procedures.

4. Segments and Related Analysis

4.1 Types of Robotic Assisted Surgery Systems

Based on types, the robotic assisted surgery systems market can be segmented into surgical robots, rehabilitation robots, and hospital robots. Surgical robots are expected to dominate the market due to their widespread applications in various surgical specialties.

4.2 Applications of Robotic Assisted Surgery Systems

The applications of robotic assisted surgery systems include cardiothoracic surgery, urology, gynecology, orthopedics, and neurosurgery. Each specialty has unique requirements that are addressed by specific robotic systems.

5. By Region Analysis

The global robotic assisted surgery systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is the largest market for robotic surgery systems, followed by Europe and Asia Pacific. The market in Asia Pacific is experiencing rapid growth due to increasing healthcare investments and technological advancements.

6. Key Market Players and Competitive Landscape

The key players in the robotic assisted surgery systems market include Intuitive Surgical, Stryker Corporation, Medtronic, Zimmer Biomet, and Smith & Nephew. These companies are focused on product innovation, strategic collaborations, and geographical expansion to gain a competitive edge in the market.

7. Recent Happenings in the Robotic Assisted Surgery Systems Market

In recent developments, Intuitive Surgical introduced the da Vinci SP robotic system for single-port surgery, Stryker Corporation acquired Mobius Imaging and its sister company, Cardan Robotics to enhance its robotic surgery portfolio, and Medtronic launched the Hugo robotic surgical system for minimally invasive procedures.