InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Robotic Surgery Consumables Market- (By Product Type (Access and Facilitation Equipment, End Effectors, Closure and Others), By Application (General Surgery, Gynecology Surgical Procedure, Urology Surgical Procedure, Orthopedic Surgical Procedure, Cardiology Surgical Procedure, Head and Neck Surgical Procedure and Others), By End-user (Hospitals, Ambulatory Surgical Centers (ASCs), Others)), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Robotic Surgery Consumables Market is valued at US$ 5.0 Bn in 2023, and it is expected to reach US$ 12.3 Bn by 2031, with a CAGR of 12.06% during the forecast period of 2024-2031.
The global robotic surgery consumables market has witnessed remarkable growth driven by advancements in minimally invasive surgical techniques and the increasing adoption of robotic-assisted surgeries. These consumables encompass various instruments and accessories utilized in robotic surgical procedures, including surgical staplers, scalpels, sutures, and electrosurgical tools. The market faced intense competition among key players such as Intuitive Surgical, Medtronic, and Stryker Corporation, leading to extensive R&D activities aimed at product innovation and portfolio expansion. Incorporating robotic surgery consumables into the healthcare sector has brought about transformative changes, yielding numerous advantages. These consumables have notably heightened surgical precision and broadened the range of procedures achievable with greater accuracy and efficiency. Furthermore, the growing prevalence of bone degenerative diseases and the rising number of hip & knee replacement surgeries due to increasing cases of arthritis & osteoporosis are anticipated to drive growth. However, challenges such as high initial setup costs, reimbursement issues, and concerns regarding the efficacy and safety of robotic-assisted procedures posed constraints to market growth.
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List of Prominent Players in the Robotic Surgery Consumables Market:
Market Dynamics:
Drivers-
In the last few years, robotic-assisted procedures have gained popularity over their conventional counterparts. Robotic-assisted procedures are becoming more common due to their various benefits, such as decreased blood loss, length of hospital stay, post-operative pain, and fewer post-operative complications. The senior population benefits the most from the robotic-assisted approach. Additionally, the growing acceptance of robotic surgery among patients and healthcare professionals boosts market demand. Furthermore, technological innovations and increasing investments in healthcare infrastructure, particularly in emerging economies, contribute to market growth by expanding access to robotic surgical procedures.
Challenges:
The adoption of robotic-assisted surgical platforms faces a major hurdle due to their high costs. Additional expenses, including consumables and surgical instruments, contribute to the overall expense. Reimbursement issues and the need for standardized reimbursement policies for robotic-assisted procedures in some countries hinder market expansion by discouraging healthcare providers from adopting these technologies. Moreover, the complexity of training required for surgeons to operate robotic systems effectively presents a challenge, slowing down the adoption rate of robotic surgery. Additionally, the limited availability of skilled personnel proficient in robotic surgery techniques constrains market growth.
Regional Trends:
The North American region has high market attractiveness for robotic surgery systems and consumable manufacturers, which can be attributed to high patient acceptance of advanced surgical technologies as well as a substantially large and well-established healthcare industry: favorable reimbursement policies and a robust regulatory framework support market growth. Furthermore, strong awareness among healthcare professionals and patients about the benefits of robotic surgery further solidifies North America’s position as a key market for robotic surgery consumables.
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Recent Developments:
Segmentation of Robotic Surgery Consumables Market-
Global Robotic Surgery Consumables Market- By Product Type
Global Robotic Surgery Consumables Market- By Application
Global Robotic Surgery Consumables Market- By End-User
Global Robotic Surgery Consumables Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
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Media ContactCompany Name: InsightAce Analytic Pvt. LtdContact Person: Diana D’SouzaEmail: Send EmailCountry: United StatesWebsite: https://www.insightaceanalytic.com/