February 17, 2022
WASHINGTON, Feb. 17, 2022 (GLOBE NEWSWIRE) — The Global Surgical Robotics and Navigation Market size is expected to reach over USD 4.5 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period from 2022 till 2028. The market accounted for a revenue of USD 2.1 Billion in 2021.
In the healthcare sector, increase in automation, high minimally invasive treatments demand, and advanced technology adoption in both developing and developed economies are likely to fuel the market growth for Surgical Robotics and Navigation. The key reason for insubordination of surgical procedures is pain related to invasive procedures. To acquire the key user acceptance players in the market for Surgical Robotics and Navigation are focused more in developing portable and non-invasive robotic platforms, states Vantage Market Research, in a report, titled “Surgical Robotics and Navigation Market by Type (Neurosurgery navigation, Spinal surgical navigation, ENT surgical navigation, Orthopedic surgical navigation), by End User (Hospitals, Ambulatory surgical centers), by Region (North America, Latin America, Europe, Asia Pacific) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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List of Prominent Players in the Surgical Robotics and Navigation Market:
- GENERAL ELECTRIC COMPANY
- B. Braun Melsungen AG
- Johnson & Johnson Services
- KARL STORZ SE & Co. KG
- Zimmer Biomet
- Fiagon AG Medical Technologies
- XION GmbH
- Collin SAS
- Medrobotics Corporation
- Titan Medical Inc.
- Verb Surgical Inc
Driver: Market is Rising Owing to Medical Advancements
The market for Surgical Robotics and Navigation is increasing owing to the medical advancements which are being carried out to help the people who are suffering from several operational disorders, therefore, in order to make a surgery successful, this technology is helping the Surgical Robotics and Navigation Market to develop. This has launched the medical spending in the allied direction to develop and empower the same market, hence, likely to help the business to expand worldwide. The complex and critical surgical operations are executed highly by these capable robots to help the market to grow.
Restraint: Expensive Cost and Reduced Pace for the Growth of the Economy
During the era of market growth, these surgical navigation and robotics are exposed to few restraints, for instance, the high cost of the service which is being availed, the minimized pace for the growth of the economy. These are some challenging restraints which are being tackled by the upcoming market player penetration as well as scope of growth in the developing nations, hence, working as an opportunity for the growth of the market for Surgical Robotics and Navigation.
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North America accounted for the largest share of the regional market for Surgical Robotics and Navigation, due to the rise in the number of associations (clinics & hospitals) adopting surgeries which are robot-assisted, increase in per capita income, and owing to initiatives by government for robotic inventions.
- 2019: Boston Children’s Hospital developed a robot which can navigate autonomously inside the body. They used an animal model for cardiac valve repair; the team had projected a robotic catheter to find the way along the walls of a beating, blood-filled heart to a leaky valve without the guidance of the physician.
- 2019: Zimmer Biomet Holdings, Inc in 2019, announced the U.S. Food and Drug Administration 510(k) clearance of the ROSA Knee System for robotically-assisted total knee replacement surgeries. ROSA Knee is a 3D pre-operative planning tool, it was designed to improve bone cut accuracy and range of motion gap analysis to potentially improve flexion and restoration of natural joint movement it is also used in brain-related surgeries.
- 2018: Medtronic has acquired in 2018 Mazor Robotics in a robot-assisted surgery platform. Medtronic acquisition was to develop fully-integrated surgical planning, to unite spine technologies with Mazor robotic system. Mazor X has received 510(k) clearance from the FDA, Mazor X and Stealth are used together in the robotic-assisted surgery.
Browse market data Tables and Figures spread through 160 Pages and in-depth TOC on “Surgical Robotics and Navigation Market by Type (Neurosurgery navigation, Spinal surgical navigation, ENT surgical navigation, Orthopedic surgical navigation), by End User (Hospitals, Ambulatory surgical centers), by Region (North America, Latin America, Europe, Asia Pacific) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/surgical-robotics-and-navigation-market-416414
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Surgical Robotics and Navigation Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Surgical Robotics and Navigation Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Surgical Robotics and Navigation Market?
- How will the Surgical Robotics and Navigation Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Surgical Robotics and Navigation Market?
- What is the Surgical Robotics and Navigation market drivers and restrictions?
- What will be the CAGR and size of the Surgical Robotics and Navigation Market throughout the forecast period?
This market titled “Surgical Robotics and Navigation Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size in 2021||USD 2.1 Billion|
|Projected Market Size in 2028||USD 4.5 Billion|
|CAGR Growth Rate||CAGR of 6.1% From 2022 – 2028|
|Historic Years||2016 – 2020|
|Forecast Years||2022 – 2028|
|Segments Covered||Type: – Neurosurgery Navigation, Spinal Surgical Navigation, ENT Surgical Navigation, Orthopaedic Surgical Navigation, Orthopaedic Surgical Navigation, Robotic-Assisted Spinal Surgery Systems, Robotic-Assisted Spinal Surgery Systems, Robotic-Assisted Neurosurgery Systems, Robotic Radiosurgery Systems, Others|
End User: – Hospitals, Ambulatory surgical centers
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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