Portable Surgical Robots Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
Portable Surgical Robots Market: Overview
The global portable surgical robots market is anticipated to register robust growth, owing to the surging adoption of portable surgical robots for less surgical error and minimally invasive surgeries. By product type, the portable surgical robots market is divided into conventional surgery simulation systems, minimally invasive simulation systems, robotic surgery simulation platform, model-based simulation, web-based simulation and others. By surgery type, the portable surgical robots market is divided into laparoscopic surgery orthopedic surgery, endoscopic surgery, gynecology surgery, neurologic surgery, cardiac surgery, arthroscopic surgery and others. By end-user, the portable surgical robots market is divided into hospital, ambulatory surgical centers, commercial simulation centers and others. Hospitals are expected to have largest share owing to their advanced infrastructure and high expenditure.
Portable surgical robots are utilized for the minimally-invasive surgical procedures, which are less painful, have a faster recovery and shorter length of stay. Portable surgical robots perform a plethora of surgical procedures with geometrical precision, even in the challenging anatomical areas which are difficult to reach by a human surgeon. Portable surgical robots are made up of two component camera arm and Instruments. The prevalence of chronic disease has increased, this lead to an increase in the number of surgeries performed globally. According to the World Health Organization (WHO), in 2019, there were 4,064 surgical procedures per 100,000 population were performed in Central Asian Countries. Da Vinci Robotic Platform by Intuitive Surgical has successfully performed more 5 million surgeries all over the world. The minimally invasive simulation systems of product type segment have gain popularity in the past few years which will fuel the Portable surgical robots market growth.
The portable surgical robots is a handheld device which provide intervention on dummy body including complex multi-quadrant abdominal surgeries such as colon resections, with other potential laparoscopic applications. The portable surgical robots provides the training to a medical professional so as to reduce the chance for medical error.
The developments in handheld portable surgical robots technologies are amplified by the immeasurable knowledge of the functioning of the human body, which has upset the technologies such as Miniaturized in Vivo Robotic Assistant (MIRA). In May 2019, FDA has stated that over 400,000 inpatients are posted for surgeries each year, experience some type of medical errors, making them the 3rd leading cause of death, globally. The portable surgical robots provide solutions for robot-assisted surgeries which make surgeries far easy and accurate for surgeons to provide intensive and clear methods for the treatment.
Portable Surgical Robots Market: Impact of COVID-19
The massive lockdown and temporary shutdown of the industry of medical, chemical, automobile, etc. amid the pandemic, has jolted the stock market. Also, the massive shift of the medical industry into the coronavirus vaccine development has deviated the focus from other crucial domains of healthcare including the portable surgical robots market. Therefore, COVID-19 has been observed to have a negative impact on the portable surgical robots market growth.
Portable Surgical Robots Market: Drivers and Restraints
Surging demand for error-free and minimally invasive surgeries are the primary factor driving the growth of the portable surgical robots market. The increasing prevalence of various chronic diseases such as urology, gynecology, etc., are surging the demand for surgeries. The inclination toward the advance technologies is also boosting the revenue growth for the portable surgical robots market.
For instance, in October 2017, Virtual Incision obtained FDA approval for its miniaturized robot-assisted (MIRA) platform, which is used for complex and multi-quadrant abdominal surgeries with minimally invasive tools and techniques. Portable robotic surgery prevents the surgical complications of traditional surgical procedures and promises perfection in laparoscopic surgery. These factors further contribute to driving the market for portable surgical robots in the near future.
Growing awareness by the promotion of portable surgical robots through media, for medical surgical practice, will upsurge the demand in the future. Additionally, FDA approvals and support of governments various nations for the utility of the portable surgical robots are deliberated, to curb the risk of surgical errors.
However, the high capital investment initially limits the market growth for portable surgical robots. The stringent regulation by the FDA for approval of portable robotic devices and technical limitations will impede the market growth for portable surgical robots market.
Portable Surgical Robots Market: Segmentation
The global portable surgical robots market is segmented on the basis of product type, surgery type, end-user and region.
Based on product type, the portable surgical robots market is segmented as:
Based on Surgery type, the portable surgical robots market is segmented as:
Based on end-user, the portable surgical robots market is segmented as:
Portable Surgical Robots Market: Regional Outlook
North America is expected to hold dominance in the global portable surgical robots due to surging prevalence of chronic diseases and adoption of technologically advanced devices. Europe is expected to hold the second largest market of the portable surgical robots with their sophisticated medical-robotics technology, well-trained medical professions and advanced healthcare infrastructure. Asia-Pacific portable surgical robots market is expected to grow at fastest pace with its massive population, progressing R&D of robotic surgeries, awareness and healthcare infrastructure. Latin America portable surgical robots market is expected to leverage gradually with its improving healthcare technology, infrastructure and escalating investments. Middle East and Africa portable surgical robots market is expected to be the least lucrative region due to dire the healthcare infrastructure.
Portable Surgical Robots Market: Key Players
The key player of the portable surgical robots market includes Intuitive Surgical Inc., CAE HEALTHCARE, 3D Systems Corporation, Mimic Technologies, Inc., LLC, Voxel-Man, Mentice AB, Simulated Surgical Systems, VirtaMed AG, Simulab Corporation, Touch of Life Technologies (ToLTech) and others. The strategic partnership and product launch are the prime focus of these players to gain a competitive edge in the market.
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