Surgical Robotics Market Is Expected to Reach $28.8 Billion, Globally, by 2020

According to a new report by Allied Market Research, titled, “World Surgical Robotics Market - Opportunities and Forecasts, 2014 - 2020,” the global sales of surgical robotic systems is projected to reach $6.4 billion by 2020. The gynecology application segment accounted for 28% share of the surgical robotic systems market share in 2014, and is expected to maintain its dominance during the forecast period.

View full report @ https://www.alliedmarketresearch.com/surgical-robotics-market

Increase in adoption of advanced robotic surgery over conventional open surgery, growing count of surgical procedures, and rising incidence rates of gynecological, neurological and urological disorders are the major factors boosting the market growth. However, high cost of surgical robotic systems and procedures is the major factor restraining the growth of the market. The surgical robotic procedures market is estimated to grow at a CAGR of 4.9% during 2015–2020, thereby, fostering the growth of the surgical robotics market.

In the component segment, systems and accessories jointly accounted for three-fourths of the surgical robotic systems market in 2014, and is forecast to maintain this trend throughout the forecast period. This is mainly attributed to the rising adoption of surgical robotic systems across Tier-1 hospitals and recurrent sales of accessories for these systems. However, system-related services are projected to be the fastest growing segment, owing to growing need for technical systems support, software upgrades, and product parts replacements.

Key Findings:

Surgical robotic systems market is projected to witness a two-fold increase in CAGR as compared to surgical robotic procedures market during the forecast period.

Accessories segment is expected to maintain its foothold in the surgical robotic systems market throughout the analysis period.

Orthopedic surgery is projected to be the fastest growing application segment in the surgical robotic...