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Robotic Assisted Surgical Devices (RASD) Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2015 – 2023

Robotic Assisted Surgical Devices (RASD) Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2015 – 2023

  • April 2017
  • 100 pages
  • ID: 4828835

Summary

Table of Contents

The global market for surgical robotics was valued at around USD 5.7 billion in 2016 and is expected to reach USD 24.4 million by 2023, growing at a CAGR of around 23.6% during the forecast period of 2017 to 2023.

Robotic surgery, computer-assisted surgery, and robotically-assisted surgery are terms for technological developments that use robotic systems to aid in surgical procedures. Robotically-assisted surgery was developed to overcome the limitations of pre-existing minimally-invasive surgical procedures and to enhance the capabilities of surgeons performing open surgery. Surgical robotics has evolved from a niche research field 25 years ago to a growing area of innovation and development, spearheading evolution in precision medicine, personalized healthcare, and quality of life improvements.

The commercial success of the first generation clinical robotic systems has inspired an ever-increasing number of players from both commercial and research organizations, resulting in smaller, safer, and smarter devices that aspire to roam the human body and blur the lines of disease prediction and prevention. Robotic surgery with the da Vinci Surgical System manufactured by Intuitive Surgical was approved by the Food and Drug Administration in 2000.

The technique has been rapidly adopted by hospitals in the United States and Europe for use in the treatment of a wide range of conditions. The most widely used clinical robotic surgical system includes a camera arm and mechanical arms with surgical instruments attached to them. The surgeon controls the arms while seated at a computer console near the operating table. The console gives the surgeon a high-definition, magnified, 3-D view of the surgical site. The surgeon leads other team members who assist during the operation.

Since these surgical procedures performed through a small incision, the patient experience a number of benefits compared to open surgery. These benefits include less trauma on the body, faster recovery time, minimal scarring on the body, less pain, less blood loss, fewer complications and good geometric accuracy. These above-mentioned benefits along with favorable reimbursement scenario and technological innovations are expected to propel the market growth at an impressive rate. However, there are certain restraining factors associated with these devices are expected to hinder the market growth in the coming years, which includes high costs of devices, longer set-up times, new technology and lack of sufficient trained professionals.

Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of players offering these devices, and large base of patients with greater affordability. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, technological advancements, and growing awareness among the population about the treatment options available in the market.

Report Highlights:
The report delivers a strategic analysis of the global market for RASD and growth forecast for the period from 2017 – 2023. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type. It also covers geographical analysis of the market with growth forecast for the period of 2017 – 2023. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.

Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global RASD market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies

Companies profiled:
The company profile section include detailed analysis of some of the key players such as Accuray, Intuitive Medical, Stryker, Mazor Robotics, Rob Surgical Systems, Elekta, CyberHeart, Biobot Surgical, Hansen Medical, TransEnterix, etc.

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