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The robotic surgery services market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 16%, as per The Business Research Company’s market report!

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The Robotic Surgery Services Market Size In 2022 And Forecast

The global robotic surgery services market is expected to grow from $0.73 billion in 2021 to $0.86 billion in 2022 at a compound annual growth rate (CAGR) of 17.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The robotic surgery services market is expected to grow to $1.59 billion in 2026 at a CAGR of 16.6%.

The robotic surgery services market consists of the sale of services provided Robotic surgical technology, is the highly advanced technological form of non-invasive surgery that utilizes robots and computer systems to conduct surgeries with lesser incision and more precision.

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Increase In Purchasing Power Of Hospitals And Ambulatory Care Services Is Driving The Growth Of The Robotic Surgery Services Market

According to the fourth quarter financial results 2019 of intuitive Surgical, the robotic surgical giant, the company has shipped around 336 DA Vinci systems during the quarter. It has almost 5,582 DA Vinci systems installed, with a 12% year-over-year increase. According to the 2019 Annual Report of Intuitive Surgical, Inc., the number of DA Vinci procedures worldwide has risen by approximately 18%. The need for more minimally invasive surgery by growing geriatric population coupled with the prevalence of chronic disease such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the demand for robotic surgery services. According to the World Health Organization (who) report, there will be a 57 % increase in chronic illness. Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illness have contributed to the growth of robotic surgery services market.

Competitive Landscape And The Regional Analysis Of The Robotic Surgery Services Market

Major players in the robotic surgery services market are Intuitive Surgical Inc, Stryker Corporation, Medrobotics Corporation, Johnson & Johnson, Globus medicals, NuVasive, Smith & Nephew plc, Titan Medical Inc, TransEnterix Inc and University of Pittsburgh Medical Centre.

The Robotic Surgery Services Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the robotic surgery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the robotic surgery services market.

Technological Advancements – A Key Trend In The Robotic Surgery Services Market

The image guide navigation system combined with the robotic surgery system offers more possibility to visualize and perform minimally invasive surgery in areas that were earlier difficult, especially the orthopedic surgeries and neurosurgeries.

Robotic Surgery Services Market Segmentation By The Business Research Company

1) By Component: Systems, Accessories, Services

2) By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery, Other Applications

3) By End-User: Hospitals, Ambulatory Surgery Centers (ASCs)

Here Are Some Reports Related To The Robotic Surgery Services Market –

Minimally Invasive Surgical Instruments Global Market Report 2022

 Surgical Equipment Global Market Report 2022 

Surgical Sutures And Staples Global Market Report 2022

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