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The global robotic surgery system market is expected to post a CAGR of close to 12% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global robotic surgery system market size is the rising preference for minimally invasive surgeries (MIS). These surgeries have gained immense popularity over the last few years as they offer advantages such as limited incisions, quicker recovery time, lower healthcare costs, and reduced postoperative complications. Additional benefits of MIS include reduced discomfort, decreased risk of infection, and shorter hospital stays. These benefits are increasing the demand for MIS procedures, which is expected to fuel the growth of the robotic surgery system market during the forecast period.
As per Technavio, the increasing focus on the development of the low-cost robotic surgical systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global robotic surgery system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Robotic Surgery System Market: Increasing Focus on Development of Low-Cost Robotic Surgical Systems
Vendors are increasingly focusing on reducing the cost of components of robotic surgery systems such as sensors, on developing low-cost systems. This will help to increase their sales and revenue. The emergence of low-cost systems is expected to further increase the penetration rate of robotic surgery systems in emerging economies. Thus, the increasing focus on the development of low-cost robotic surgery systems will boost the growth of the market during the forecast period.
“Apart from the increasing focus on the development of low-cost robotic surgery systems, other factors such as technological advances will have a significant impact on the robotic surgery system market growth during the forecast period,” says a senior analyst at Technavio.
Global Robotic Surgery System Market: Segmentation Analysis
This market research report segments the global robotic surgery system market size by product (instruments and accessories, system, and services), application (gynecology, general surgery, urology, cardiac surgery, and others), end-user (hospitals, and ASCs) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the robotic surgery system market in 2018, followed by Europe, Asia, and ROW, respectively. The robotic surgery system market report identifies the increasing incidence of chronic diseases, the rising popularity of MIS, and the rapid rise in the number of surgeries performed in ASCs as factors that will further fuel the growth of the market in North America during the forecast period.