DUBLIN--(BUSINESS WIRE)--The "Robotic Surgery Services Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
Robotic Surgery Services Global Market Report 2020: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global robotic surgery services market.
This report focuses on the robotic surgery services market which is experiencing strong growth. the report gives a guide to the robotic surgery services market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global robotic surgery services market is expected to decline from $0.71 billion in 2019 to $0.57 billion in 2020 at a compound annual growth rate (CAGR) of -19.04%. The decline is mainly due to the COVID-19 outbreak resulting in other patients delaying their episodes of care. The market is then expected to recover and reach $1.03 billion in 2023 at CAGR of 21.55%.
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North America was the largest region in the robotic surgery services market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.
On October 2019 Corindus Vascular Robotics Inc., a leading developer of precision vascular robotics was acquired by Siemens Healthineers AG, a German conglomerate of medical technology offering wide range of products in the fields of diagnostic and therapeutic imaging, laboratory and point of care diagnostics, and molecular medicine for an amount of USD 1.1 billion. The main aim of this acquisition is to optimize the procedures and to increase the clinical outcomes by collaborating each other's technologies. It also opens a new market for Siemens.
The increase in purchasing power of hospitals and ambulatory care services has helped in the growth of the robotic surgery service market. Hospitals and ambulatory care services are interested in buying latest technologies to provide advanced care to the patients as well as to achieve an edge over their competitors. According to the fourth quarter financial results 2019 of Intuitive Surgicals, the robotic surgical giant, the company has shipped around 336 DA Vinci systems during the quarter when compared to 290 during the fourth quarter of 2018. It has almost 5,582 DA Vinci systems installed, with a 12% year-over-year increase.
More than 1 million procedures were performed around the world with the DA Vinci systems in 2018 from 136,000 in 2008. The need for more minimally invasive surgery by growing geriatric population coupled with the prevalence of chronic diseases such as diabetes, HIV/AIDS, asthma, arthritis, and other diseases has increased the demand for robotic surgery services. According to the World Health Organization's (WHO) report, there will be a 57 % increase in chronic illnesses. Therefore, the purchasing power of hospital and ambulatory care services coupled with the increase in the geriatric population and prevalence of chronic illnesses have contributed to the growth of the robotic surgery services market.
Key Topics Covered:
1. Executive Summary
2. Robotic Surgery Services Market Characteristics
3. Robotic Surgery Services Market Size And Growth
3.1. Global Robotic Surgery Services Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Robotic Surgery Services Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Robotic Surgery Services Market Segmentation
4.1. Global Robotic Surgery Services Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Robotic Surgery Services Market, Segmentation By End-users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Robotic Surgery Services Market Regional And Country Analysis
5.1. Global Robotic Surgery Services Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Robotic Surgery Services Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
- Intuitive Surgical Inc
- Stryker Corporation
- Medrobotics Corporation
- Johnson & Johnson
- Globus medicals
- NuVasive
- Smith & Nephew plc
- Titan Medical Inc
- TransEnterix Inc
- University of Pittsburgh Medical Center
- Rutland Medical Center
- Huntington Hospital
- Washington Hospital Healthcare System
- The Ottawa Hospital
- Michael's Hospital
- Charit - Universittsmedizin Berlin
- Ipswich Hospital
- Apollo Hospitals Enterprise Limited
-
HealthCare Global Enterprises Ltd
For more information about this report visit https://www.researchandmarkets.com/r/hd4nnq.
