Surgical robots are designed to do much more than simple surgeries, including complex surgeries that are usually only done under very complicated circumstances. For example, a surgical robot that is used to help urologists insert hyaluronic acid pellets into the penis is able to perform this surgery without placing the patient at risk for any kind of infection.
Growing demand awareness regarding the advantages of robotic-assisted surgery coupled with the advancement in the surgery is fueling the growth of surgical robots market. Increasing adoption of surgical robots across hospitals & ambulatory surgery centers in order to reduce human error and improve patient safety is again driving the growth of surgical robots market. According to the International Federation of Robotics, the total value of sales of medical robots increased to US$1.9 billion, accounting for 29 percent of the total sales value of the professional service robots in 2017. Moreover, expanding application of surgical robots across various surgeries such as general surgery, gynecological surgery, urological surgery, neurosurgery, orthopedic surgery, and other applications is also expected to uplift the market growth. Growing focus on improving surgeries with better precision and outcome is further anticipated to bolster the growth of surgical robots market. A rise in the funding in the field of surgical robots for developing more advanced cost-effective robots is anticipated to foster the growth of the surgical robots market.
North America is expected to gain significant growth over the forecast period and this is attributed to the increasing healthcare funding coupled with the rapid adoption of such advanced technology across the healthcare sector. According to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew 4.6 percent in 2019, reaching US$3.8 trillion or US$11,582 per person.
Key Developments:
1. In September 2019, Medtronic has launched a new robot-assisted surgery platform that is more flexible and cost-effective than systems presently on the market.
2. In December 2020, Smith + Nephew (S+N) has announced the launch of a new handheld robotics platform: CORI. It is a surgeon-controlled handheld robotic platform, and its modular design will enable it to be scaled across the orthopedic service line.
3. In December 2019 Apollo Hospitals Bangalore has announced the launch of the first dedicated Robot-Assisted Cardiac Surgery Unit in India. The Robot-Assisted Cardiac Surgery Unit will offer patients with complex cardiac disease treatment with robotic-assisted minimally invasive cardiac surgery
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