Market Overview

The surgical robots market was valued at USD 4,080.8 million in 2018, and is expected to register a CAGR of 21.9% over the forecast period of 2019-2024. Surgical robots can perform complex procedures with geometrical precision, even in anatomical areas that are difficult to reach by human surgeons. This is resulting in the rising preference by surgeons and patients to utilize robots. 

• The increasing need for automation in healthcare, the increasing incidences of chronic diseases, the increasing geriatric population, the complexity of surgical procedures, and the increasing demand for non-invasive surgeries with more precision and flexibility are the factors driving the market. 
• High costs of installation, concerns regarding safety, integration issues, and the need for technologically skilled personnel, are some of the factors challenging the growth of the market. However, the innovations in the industry are expected to reduce the cost of the systems in the future. Thus, the market penetration is expected to increase over the forecast period.
• The advent of robotic surgery decreased the complication rates of surgery and allowed surgeons to perform finer tasks, compared to the traditional laparoscopic and open-surgery approaches.
   

Scope of the Report

A surgical robot is a combination of equipment, accessories, and software. It involves partial interference or complete dependence on specially devised machines to carry out surgical operations. Robotic technology is enhancing surgery through improved precision, stability, and dexterity. 
 

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Key Market Trends

Cardiovascular Surgery to Hold Significant Market Pie

• Robotic heart surgery offers several advantages, such as keeping the breastbone/sternum intact, making smaller incisions, and minimizing blood loss. The major centers have adopted the da Vinci Surgical System for performing robotic heart surgeries, and have registered excellent results. The types of cardiac surgeries performed by robotic systems are mitral valve, repair or replacement, atrial septum defect closure, tricuspid valve repair, maze procedure to treat atrial fibrillation, and coronary artery bypass.
• Currently, the emerging nanobots are being investigated to unclog arteries. The other advances in cardiovascular surgery include catheter-based robots, robot-based valves, better operative techniques, smaller instruments, improved holographic 3D vision, nanotechnology, and faster and smaller computer circuits that enable a quicker transfer of data. 
• The cost of robotic surgery for cardiology has not been significantly higher than the cost of conventional surgery. However, improvements in post-operation for the quality of life make the robotic approach more cost-efficient.  Cardiac robotic surgery decreases the duration of stay in the hospital , and thus, makes more slots available for patients, as well as offers the potential for additional revenue.
• The American Heart Association, in its publication 'Heart Disease and Stroke Statistics, 2016 Update At-A-Glance', estimated that 98 million American adults will have one or more types of cardiovascular diseases. Surgery represents the most effective therapy for advanced cardiovascular conditions. 
   

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