Global Robotic Surgery System Market 2019-2023 | 12% CAGR Projection Over the Next Five Years | TechnavioJuly 22, 2019 12:33pm

LONDON--(BUSINESS WIRE)--Jul 22, 2019--

The global robotic surgery system market is expected to post a CAGR of close to 12% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has announced its latest market research report titled global robotic surgery system market 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global robotic surgery system market size is the rising preference for minimally invasive surgeries (MIS). These surgeries have gained immense popularity over the last few years as they offer advantages such as limited incisions, quicker recovery time, lower healthcare costs, and reduced postoperative complications. Additional benefits of MIS include reduced discomfort, decreased risk of infection, and shorter hospital stays. These benefits are increasing the demand for MIS procedures, which is expected to fuel the growth of the robotic surgery system market during the forecast period.

As per Technavio, the increasing focus on the development of the low-cost robotic surgical systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global robotic surgery system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Robotic Surgery System Market: Increasing Focus on Development of Low-Cost Robotic Surgical Systems

Vendors are increasingly focusing on reducing the cost of components of robotic surgery systems such as sensors, on developing low-cost systems. This will help to increase their sales and revenue. The emergence of low-cost systems is expected to further increase the penetration rate of robotic surgery systems in emerging economies. Thus, the increasing focus on the development of low-cost robotic surgery systems will boost the growth of the market during the forecast period.

“Apart from the increasing focus on the development of low-cost robotic surgery systems, other factors such as technological advances will have a significant impact on the robotic surgery system market growth during the forecast period,” says a senior analyst at Technavio.

Global Robotic Surgery System Market: Segmentation Analysis

This market research report segments the global robotic surgery system market size by product (instruments and accessories, system, and services), application (gynecology, general surgery, urology, cardiac surgery, and others), end-user (hospitals, and ASCs) and geographic regions (North America, Europe, Asia, and ROW).

The North American region led the robotic surgery system market in 2018, followed by Europe, Asia, and ROW, respectively. The robotic surgery system market report identifies the increasing incidence of chronic diseases, the rising popularity of MIS, and the rapid rise in the number of surgeries performed in ASCs as factors that will further fuel the growth of the market in North America during the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 07/22/2019 08:33 AM/DISC: 07/22/2019 08:33 AM

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