Global Robotic Surgery Consumables Market to Grow at a CAGR of 11. 37% from 2020-2030. Key Questions Answered in this Report: • How is the role of robotic surgery in surgical applications expected to evolve in the future?
New York, March 11, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Robotic Surgery Consumables Market: Focus on Product Type, Application, End Use, 43 Countries’ Data, Patent Scenario, and Competitive Landscape – Analysis and Forecast, 2020-2030" - https://www.reportlinker.com/p05873728/?utm_source=GNW
• Are the current business models in the robotic surgery consumables landscape expected to persist in the future?
• What are the major market drivers, challenges, and opportunities in the global robotic surgery consumables market?
• How do robotic MIS procedures compare against conventional MIS procedures?
• How is the expiration of patents expected to impact the market dynamics?
• What are the key strategies incorporated by the leading players in the robotic surgery consumables market to sustain the competition?
• What is the current total market size and forecasts (until 2030) for different product categories available in the market?
• What are the current total market size and forecasts (until 2030) for each of the applications?
• What is the likelihood of contract manufacturers entering the market in the future?
• What are the awaited technologies in the robotic surgery consumables landscape?
Overview of the Global Robotic Surgery Consumables Market
Robotic surgeries have been in the healthcare landscape from as early as 2000.Over the last two decades, the healthcare industry has witnessed an increasing preference for robotic-assisted surgeries, leading to an increase in the consumption of robotic surgery consumables.
Although robotic-assisted surgeries account for less than 1% of the total number of MIS procedures performed across the world, the share is expected to go up to 6% and above by the end of the forecast period.The growing preference for robotic-assisted surgeries is expected to be driven by increasing healthcare expenditure and disposable income, making robotic-assisted surgeries affordable in developing countries.
The key factor which holds back several end-uses from adoption robotic surgical systems is the high cost associated with the installation and maintenance of robotic surgery systems.It may be counter-intuitive to consider robotic surgery systems as expensive since they are priced over $2 million in some cases.
However, a major chunk of the revenue is generated through recurring sales of robotic surgery consumables in the form of kits. Robotic surgery consumables are available both in single-use and reusable variants in the market. While manufacturers recommend the single-use consumables be disposed after every surgery, reusable consumables are usually replaced after a certain number of procedures, i.e., seven on an average.
Competition in the market is high and is expected to increase during 2020-2030. Initially, Intuitive Surgical, Inc. was the only player with the FDA-approved robotic surgery platform – the da Vinci system. The patents initially filed by Intuitive Surgical, Inc. acted as barriers to entry for new market entrants, enabling Intuitive Surgical, Inc. to maintain the leading position in the market. However, owing to the expiration of initial patents and proper identification of target segments by new market entrants led to an increase in the level of market competition. Most new players are targeting those segments in which Intuitive Surgical, Inc. has a relatively weak presence, such as in orthopedics. The expiration of patents, however, is unlikely to pose a serious threat to Intuitive Surgical, Inc. in the future, as the market witnesses a high rate of patent filing activities, in which Intuitive Surgical, Inc. is one of the players at the forefront. Stryker Corporation is another leading market player with a significant market share. One of the key trends likely to be observed in the future is the miniaturization of the robotic surgery consumables, especially end effectors.
Robotic Surgery Consumables Market Forecast, 2020-2030
The Global Robotic Surgery Consumables Market Report projects the market to grow at a significant CAGR of 11.37% during the forecast period, 2020-2030.
“I think the biggest challenge for the market players is reducing the dimensions of the instruments and making them smaller. Making instruments smaller is more complex since the whole design, right from the ports and the supporting instruments, need to change. This is something that the industry is trending toward, and it will be exciting to see the new mechanisms to maneuver such small instruments with complex designs” – Max Balter (Sr. R&D Engineer, Medtronic plc)
Scope of the Robotic Surgery Consumables Market
The report constitutes an in-depth study of the global robotic surgery consumables market, including a thorough analysis of the types of products.The study also presents a detailed analysis of the market dynamics and the estimation of the market size over the forecast period 2020-2030.
The scope of this report is focused on the different types of instruments and accessories, along with different applications and end uses, as well as country-wise analysis.
The purpose of the study is to gain a holistic view of the global robotic surgery consumables market in terms of various factors influencing it, including regulations and technological advancements.The market has been segmented into product type, application, end use, and region.
The scope of this report is centered upon conducting a detailed study of the products allied with the global robotic surgery consumables market. In addition, the study also includes exhaustive information on the market opportunities, patent filing trend, competitive landscape, market share of leading manufacturers, growth potential of each product, end use, application, and region, as well as other vital information with respect to the robotic surgery consumables market.
By Product Type
• Access and Facilitation Equipment
o Needle Holders
o Other Equipment (Knife, Retractors, Obturators, etc.)
• End Effectors
o Graspers and Forceps
o Stapling Instrumentation
o Drilling and Cutting Equipment
o Others (Clips, Clip Appliers, etc.)
• Closure (Suturing Instruments)
• Other Consumables (Sterile Drapes, Specimen Pouches, etc.)
• Urology Surgical Procedures
• Gynecology Surgical Procedures
• General Surgery
• Cardiology Surgery Procedures
• Orthopedic Surgical Procedures
• Head and Neck Surgery
• Other Surgical Procedures (Cosmetic Surgery, Hair Transplant, Biopsy, etc.)
By End Use
• Ambulatory Surgical Centers (ASCs)
• Others (Research Institutions and Specialty Clinics)
• North America
• Latin America
Key Companies in the Robotic Surgery Consumables Industry
The key players contributing to the global robotic surgery consumables market are Intuitive Surgical, Inc., Stryker Corporation, Smith & Nephew plc, Medtronic plc, Stereotaxis Inc., Restoration Robotics, Auris Medical, Inc. (J&J), Medrobotics Corporation, THINK Surgical, TransEnterix, Inc., Zimmer Biomet, Monteris Medical, and Renishaw plc, among others.
• North America
• Czech Republic
• South Korea
• Australia and New Zealand
• Latin America
• Puerto Rico
• Kingdom of Saudi Arabia (KSA)
Read the full report: https://www.reportlinker.com/p05873728/?utm_source=GNW
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