TheGlobal Surgical Robotics and Navigation Marketaccounted for USD 2.1 Billion in 2021.
Since the past few decades, technological advancements have been surging hastily. For centuries, surgeons have been operating surgeries using larger incisions in a matter to get a complete view of the organ, which is intended to be treated. In complicated surgeries, the surgeons have to operate surgery with greater incisions to insert the required surgical instruments for the surgeries with high risks of infections and bleeding. Thus, the recovery time of patients is extensive with post-operative complications as a general occurrence.
The introduction of robotics technology for surgeries has immensely changed the trend of surgeries owing to the various pros factors such as having minimal incisions, reduced risk of infections, abridged bleeding time, along with swift recovery period for patients coupled with reducing the postoperative complications. Consequently, it is anticipated to drive Surgical Robotics and Navigation Market growth over the forecast period.
There are always some hurdles when it comes to technology. The technical and mechanical nature of the equipment may turn challenging. Lack of skilled labor in developing regions and high cost of the equipment can serve as the restraining factor for the market.
Additionally, the increasing demand for new technology and government initiatives and funding from the government is likely to promote market growth. Correspondingly, major key players and private organizations are increasing their investment in R&D activities and are likely to witness the growth of the Surgical Robotics and Navigation Market.
North Americaheld the largest market share in 2021 for the Surgical Robotics and Navigation Market. This is attributed to the presence of major players such as Intuitive Surgical, Stryker Corporation, Zimmer Biomet, Asensus Surgical (Transenterix), Auris Health, Medrobotics Corporation, Think Surgical, Verb Surgical, OMNIlife Science, CMR Surgical, among others in the region.
Additionally, increasing heavy investments from the government as well as major players in the Research and Development (R&D) sector for technological improvement of surgical robotics is further propelling the market growth over the forecast period.
Some of the key players in the composites market include- Medtronic , Stryker, GENERAL ELECTRIC COMPANY, Brainlab, 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,.