Robotic Surgery Services Global Market Sees Growth Rate Of 18% Through 2022

The global robotic surgery services market size 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 growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The robotic surgery services market is expected to reach $1.59 billion in 2026 at a CAGR of 16.6%.

What is the Global Robotic Surgery Services Market?

The robotic surgery services market consists of the sale of services provided Robotic surgical technology, the highly advanced technological form of non-invasive surgery that utilizes robots and computer systems to conduct surgeries with lesser incision and more precision. The commonly used robotic surgical system consists of a mechanical arm and camera arm attached to surgical instruments with a controlled by a surgeon being seated at a computer console which is usually in the same room as the surgical table, or can be around the world.

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What drives the Global Robotic Surgery Services Market?

Increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. 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. 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.

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Global Robotic Surgery Services Market Segments
The global robotic surgery services market is segmented:
By Component: Systems, Accessories, Services
By Application: General Surgery, Urological Surgery, Gynecological Surgery, Orthopedic Surgery, Neurosurgery, Others
By End-User: Hospitals, Ambulatory Surgery Centers (ASCs)
By Geography: The regions covered in the robotic surgery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Robotic Surgery Services Global Market Report 2022provides market size and growth forecasts for the global robotic surgery services market, global robotic surgery services market share, robotic surgery services market segments and geographies, robotic surgery services market competitive landscape including leading competitors’ revenues, profiles and market shares. The robotic surgery services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Robotic Surgery Services Industry Playersinclude 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. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.