Surgical Robotics and Navigation Market: The key factors driving market growth are increasing technological advancement and the entry of new market players

Market Synopsis:

Global Surgical Robotics and Navigation Market is valued at USD 2.1 Billion in 2021 and is estimated to reach a value of USD 4.5 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period of 2022 till 2028. Due to an increase in the elderly population, an acceleration in the adoption of Surgical Robotics and Navigation technology in minimally invasive surgical methods, and the widespread prevalence of chronic dysfunctions such as cerebrovascular diseases, strokes, and Alzheimer’s disease, the Surgical Robotics and Navigation Market is expected to grow rapidly.

COVID-19 Impact Analysis:

The global impact of the COVID-19 epidemic on the world’s population and economy has been disastrous. Healthcare systems have been severely strained as a result of the pandemic. To reduce the risk of transmission and conserve healthcare resources for COVID-19 patients, healthcare institutions and providers have been told to halt undertaking elective surgical operations and medical examinations during this time. The pandemic has resulted in a temporary restriction on elective surgeries all over the world, resulting in the cancellation of elective procedures all over the world, having a negative impact on the global economy.

 

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Market Segmentation:

The Global Surgical Robotics and Navigation Market is segmented on the basis of Type(Neurosurgery Navigation,Spinal Surgical Navigation,ENT Surgical Navigation,Orthopedic Surgical Navigation,Robotic-Assisted Spinal Surgery Systems,Robotic-Assisted Neurosurgery Systems,Robotic Radiosurgery Systems,Others),End User(Hospitals,Ambulatory surgical centers),Region(North America,Latin America,Europe,Asia Pacific,Middle East & Africa). 

Advantages Of Robotic-Assisted Surgery are Expected to drive Market

Minimally invasive surgeries (MIS) are becoming increasingly popular around the world, owing to the benefits they provide, such as smaller incisions, fewer cuts, reduced scarring, reduced discomfort, increased safety, shorter recovery times, and significant cost savings. By providing improved accuracy, repeatability, control, and efficiency, robotic minimally invasive surgery adds to these benefits.

High Cost of Robotic Systems

Minimally invasive operations are more expensive than robot-assisted surgeries. Robotic hysterectomy is only recommended by the American Congress of Obstetricians and Gynecologists for unique and complex clinical situations. The implementation of robotic surgery for all hysterectomies, according to the group, would add an estimated USD 960 million to the yearly cost of hysterectomy surgeries in the United States.

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Competitive Landscape:

Some of the major vendors in the Surgical Robotics and Navigation market is 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.

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