Global Next-Generation Surgical Robotics Market: Analysis and Forecast, 2020-2030

Jul 2020| BIS377A| BIS Research

Report Highlights

Global Next-Generation Surgical Robotics Market to Reach $884.5 Million by 2030.

Key Questions Answered in this Report:

• What are significant technological advancements in surgical robotics and how the market for next-generation surgical robotics is expected to evolve in the future?
• What are the major market drivers, challenges, and opportunities in the global next-generation surgical robotics market?
• Who are the leading companies actively working on implementing next-generation surgical robotics technologies?
• What is the current revenue contribution of the different technology types, and how would it change in the forecast period?
• What is the current market share of each of the companies in the global next-generation surgical robotics market, and what are expected to be their contributions in 2030?
• What is the growth potential of the next-generation surgical robotics in region, including North America, Europe, Asia-Pacific, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for surgical robotics?
• How is the patent landscape evolved in the past years in the next-generation surgical robotics market?

Market Report Coverage - Next-Generation Surgical Robotics

Market Segmentation

• Technology – Miniaturized Surgical Robotics, Autonomous Surgical Robotics, and Teleoperated Surgical Robotics
• Product Type – Surgical Systems, Instruments & Accessories, and Services
• Application – General Surgery, Urology Surgery, Aesthetic Surgery, Cardiology Surgery, Gynecology Surgery, and Neurology Surgery

Regional Segmentation

• North America- U.S. and Canada
• Europe- Germany, U.K, France, Italy, Spain, Switzerland, Netherlands, and Rest-of-Europe
• Asia-Pacific- Japan, China, India, Australia & New Zealand, South Korea, Singapore, and Rest-of-Asia-Pacific
• Rest-of-the-World

Growth Drivers

• Rising prevalence of chronic disorders
• Elevating elderly population
• Increasing healthcare expenditure in developing economies
• Increasing demand for minimally invasive surgeries
• Low cost of next-generation surgical robotic platforms

Market Challenges

• Lack of skilled professionals
• Restrictive reimbursement framework in several countries

Market Opportunities

• Development of low cost next-generation surgical systems
• Development of surgical simulators for training

Key Companies Profiled

Activ Surgical, Inc., AVRA Medical Robotics, Inc., CMR Surgical Ltd., Corindus Vascular Robotics, Inc. (Siemens Healthineers AG), Memic Innovative Surgery Ltd., Microbot Medical, Inc., PROCEPT BioRobotics Corporation, Vicarious Surgical Inc., Virtual Incision Corporation, and Virtuoso Surgical, Inc.

Overview of the Global Next-Generation Surgical Robotics Market

The global next-generation surgical robotics market is anticipated to gain significant traction in the future. Several key players are engaging in developing advanced surgical robotics, testing the capabilities of miniaturization, autonomous, and telesurgery technologies. The market for next-generation surgical robotics is at a nascent stage, with only two companies having commercialized offerings. The rest of the products by other companies are still in the investigational phase and is expected to launch during the forecast period, 2020-2030. The factors, such as increasing awareness about the advantages of surgical robotics coupled with the improving healthcare infrastructure in several economies and increasing investments & funding within the surgical robotics domain, is expected to bolster the growth of next-generation surgical robotics market.

Global Next-Generation Surgical Robotics Market Forecast, 2020-2030

The market size of next-generation surgical robotics was valued at $10.9 million in 2019. The global next-generation surgical robotics market is expected to grow at a robust rate. It is anticipated to reach $884.5 million in 2030 with a CAGR of 44.6% during the forecast period 2020-2030, primarily due to the increasing prevalence of chronic disorders, elevating the global population coupled with the geriatric population, favorable reimbursement policies in developed economies, and increasing investments to develop advanced robotic platforms. However, several factors, such as a shortage of skilled professionals and restrictive regulatory framework, are the primary obstacle hindering the growth of the global next-generation surgical robotics market.

Competitive Landscape

The global next-generation surgical robotics market is dominated by a PROCEPT BioRobotics Corporation, followed by CMR Surgical Ltd. in 2019. The companies in this market are continuously collaborating with research institutions to expand their research capabilities to develop technologically advanced products.

In the past four years, i.e., (January 2016 June 2020), the market has witnessed 25 key developments, most of which were funding activities. Efforts are put in to introduce more technologically advanced products in the market, targeting specific unmet surgical applications. With the introduction of new and upgraded devices with enhanced capabilities, it has become increasingly possible to unlock new use cases for next-generation surgical robotic technologies.

The key players contributing to the global next-generation surgical market are Activ Surgical, Inc., AVRA Medical Robotics, Inc., CMR Surgical Ltd., Corindus Vascular Robotics, Inc. (Siemens Healthineers AG), Memic Innovative Surgery Ltd., Microbot Medical, Inc., PROCEPT BioRobotics Corporation, Vicarious Surgical Inc., Virtual Incision Corporation, and Virtuoso Surgical, Inc.

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