Industry Insights
The global abdominal surgical robots market revenue was valued at USD 2.94 billion in 2017 and is expected to be valued at USD 12.78 billion by 2025. The market growth is influenced by the increasing preference for minimally invasive procedures coupled with the increasing demand for high precision and reliable surgical platforms. The market is also influenced by the rising efficiency provided to the surgeons in case of open surgery as compared to conventional forms.
The growth in the market is driven by the rising number of dependency through the surgical robots. The robotic surgery in the hospitals helps to minimize the errors and control the machines through the artificial intelligence. The rising number of attraction in the surgeries provided through surgical robots coupled with technological sophistication has rendered the ease of operation with high efficiency and reliability. This will, in turn, drive the market growth.
However, the surgeons are continuously focusing on the robotic surgeries for different applications of general, urological and gynecological surgeries to rise its presence in the hospitals and clinics. As per several research surveys, there has been an increasing adoption of the robotic surgical systems in developed economies and is expected to gain traction in developing economies as well. For instance, the migration of the surgeons towards the robotic surgeries in the U.S. is expected to increase its penetration from 21% to about 100% by the end of 2024.
Segmentation by application
• General Surgery
• Gynaecology
• Urology
• Others
Abdominal surgical robots for gynecology is the largest segment in the market. As of 2017, gynecology revenue share accounted for 42.8% of the global abdominal surgical robots market. In gynecology, abdominal surgical robots are used for sacrocolpopexy, myomectomy, gynecologic malignancies, and others. Patients are preferring to schedule for gynecologic procedures to be done by robotic-assisted surgery because of its short duration and low complexity. Surgeons prefer to perform conventional procedure over robot assisted surgeries to perform gynecologic procedures in tubal ligation, simple ovarian cystectomy, surgical management of ectopic pregnancy and prophylactic bilateral salpingo-oophorectomy. There are certain guidelines provided to undertake robot-assisted gynecologic surgery. For instance, to perform gynecological surgery, physician and surgeon have to take certification conducted by health care institutions.
However, general surgery is the fastest application growing at a revenue CAGR of around 21.39% from 2018 to 2025. The advent of the robot-assisted surgeries has rendered the ease of operation to the general surgeons as they can effectively use the flexible instruments provided by the robotic arms coupled with enhanced magnification and stable camera movement. Furthermore, the use of robotic surgical platforms, it provides a host of benefits such as the lower risk of wound site infection and other post-operative complications which otherwise result in delayed recovery. Hence, the above-mentioned benefits offered by surgical robots will favor their acceptance in general surgeries worldwide thereby driving the market growth over the forecast period.
Segmentation by region
• North America
• Europe
• Asia Pacific
• Rest of the World
In 2017, North America was the largest market, accounted for 54.9% revenue share of the overall market. The popularity and acceptance of the products are increasing on the basis of several benefits rendered by them such as high precision, fast recovery, less pain, and high performance. All these benefits result in enhanced demand over the forecast period. North America has the highest adoption rate where the U.S accounts for more than 70% of the regional share. There has been a significant uptake of robotic surgeries in the U.S. with annual procedures exceeding more than 400,000 since 2015. In addition, several hospitals in the U.S. included these platforms with an aim to build the brand image and gain competitive advantage.
The hospitals are adopting robotic surgical system to provide a better work culture for the doctors and to reduce the surgery fatigue. As these surgical robots has superior ergonomic that allows the doctors to conduct surgery by seated away and not by standing beside the patience. This methods are very much favorable while conducting long surgery.
Asia Pacific is anticipated to be the fastest growing region, growing at a CAGR of 22.76% over the forecast period from 2018 to 2025. Improving health care infrastructure coupled with increasing adoption of computer-aided technologies in the health care sector in emerging economies such as India and China is expected to fuel the demand for the products. Consistent technological innovations coupled with an increasing preference for high precision and reliable minimally invasive procedures will favor the market growth over the forecast period.
Competitive Landscape
The key players in the market such as Intuitive Surgical, TransEntrix, Mazor Robotics, Smith and Nephew invest on the different application sectors such as general surgery, gynecology, urology, and abdominal wall surgery. In October 2018, Medrobotics announced the sales of Flex Robotic System in Europe for gastroenterology applications. Physicians and patients will both benefit from the facility of robotic precision, clear 3D visualization, stable platform for handling equipment’s, and procedures within a short period of time. However, heavy investments from the leading players towards the development of their companies in order to attract more domestic and foreign investments have been a factor in the growth of the market. For instance, in February 2019, Intuitive Surgical had signed a contract agreement with Soberto Organization for two buildings in Santa Clara. This lease of buildings helps the company to expand its business.
The market players are continuously striving to introduce new improvements to the existing market focused on the acquisition and new product launches. These services provide technological advancements to the products in the market, thereby improving the development state of the market. Presently, collaboration and service innovations are the key focus of leading market players to influence their present and future investment decisions. For instance, in December 2017, TSolution One Surgical System of THINK Surgical, Inc. received CE mark approval for the total Knee Arthroplasty. Also, in May 2018, the company Stereotaxis Inc. and Acutus Medical declared a strategic collaboration and signed an agreement to integrate the Niobe Magnetic Navigation System with Acutus Medical AcQMap High-Resolution Imaging and Mapping System. This technology integration helps the patient to improve patient care and physician experience.
