The rising COVID-19 cases across the globe are having a profound impact on the robotic assisted surgery market as the surgical procedures were initially postponed or delayed. Furthermore, the delay of elective procedures, due to COVID-19-related measures, has adversely affected the products such as the robotic assisted surgery systems market especially in the year 2020. The COVID-19 has also impacted the production of robotic assisted surgery systems products in 2020.

However, as these cases are rising the preference for robotic assisted surgical systems are also increasing due to the several advantages associated with it such as it allows precise, tremor-free surgery and the benefits of minimal invasive methods.

The major factors driving the growth of the market are the rising technological advancements and entry of new market players along with the rising burden of chronic disorders and rising preference for minimal invasive methods. Cardiovascular diseases are found to be most prevalent across the world, and they are the leading causes of death.

As per the 2020 updates of World Health Organization, ischemic heart disease, is responsible for nearly 16% of the world’s total deaths. Furthermore, since 2000, the largest increase in deaths has been for ischemic heart disease, rising by more than 2 million to 8.9 million deaths in 2019. The rising prevalence of cardiovascular diseases are increasing the cardiopulmonary surgeries, coronary artery bypass grafting (CABG) and thus it will increase the demand for robotic assisted surgery systems.

However, the annual maintenance costs of these systems, along with the disposable supply cost is quite expensive for these robotic systems, which makes it beyond the reach of many institutions and health care systems, especially in middle-income and low-income countries to adapt these devices.

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Key Market Trends

The Surgical Robot Segment is Expected to Hold the Largest Market Share in the Robotic Assisted Surgery Systems Market

The surgical robot segment is expected to witness the largest market share in the robotic-assisted surgery systems market during the forecast period.

With the emergence of COVID-19, the surgeries were postponed which impacted negatively on the surgical robot systems. According to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide may be canceled or postponed in 2020. More than 580,000 planned surgeries in India have been canceled or delayed as a result of the COVID-19 pandemic, according to a study conducted by an international consortium in May 2020.

But as the surgeries are resumed now and rising preference towards the surgical robots due to minimum intervention required and declining the risk of cross-contamination, is expected to upsurge the demand for surgical robots.

Many of the hospitals and other instiutions are actively adopting these surgical robots in order to enhance their surgical procedures in terms of patient outcome. For instance, Apollo Hospital Networks currently (2020) has installed about 80 robotic assisted surgery set-ups across India that performs general, oncology, urology and bariatric surgeries. Furthermore, in November 2020, it introduced a ‘’Robotic Joint Replacement Program’’ where in the healthcare professionals would be using next generation robotic systems for smaller incision and other activities in partial and total knee replacement procedures.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

During this pandemic situation, the United States was one of the most affected countries across the world, which further significantly impacted the robotic assisted surgery systems market. The adoption of robotic assisted surgery systems might have declined during this period in order to conserve and manage the resources for curbing the disease.

North America is expected to dominate the overall robotic assisted surgery systems market throughout the forecast period. The major factors attributing to the growth are the rise in the burden of chronic diseases along with the technological advancements in the robotic-assisted surgery systems. According to the Canadian Institute for Health Information 2020 report, there are more than 62,000 hip replacements, and over 75,000 knee replacements were performed in Canada in the year 2018–2019.

This represents an increase of 20.1% and 22.5%, respectively, over the last 5 years. Also, the joint replacements have increased with more than 137,000 surgeries now performed annually, estimated at USD 1.4 billion for inpatient hospital and physician costs (excluding rehabilitation). Hence, this rising number of surgical procedures are further expected to support the market growth. Furthermore, in September 2019, Medtronic Plc has introduced Hugo RAS System, robot-assisted surgery platform which is more flexible and cost-effective systems. Thus, with the above data points we can incur that the robotic assisted surgery systems in this region is expected to thrive during the forecast period.

Competitive Landscape

The robotic assisted surgery systems market is inclusive of international companies as well as local players. The new market players with more funds for research and development are now entering the market. Moreover, big players in medical devices are also focusing on paving its way in the robotic assisted surgical systems through mergers acquisition, etc.

For instance, in December 2019, Ethicon, a division of Johnson & Johnson announced to acquire stakes (of Verily) in Verb Surgical Inc. in order to strengthen Ethicon’s capabilities in terms of surgery and advanced instrumentation. The deal was closed in February 2020. This has also helped the market grow. Some of the companies which are currently dominating the market are Intuitive Surgical Inc., Stryker Corporation, Johnson & Johnson Inc. (Verb Surgical Inc. and Auris Health Inc.), SRI International Inc., Accuray Incorporated, Think Surgical Inc., Renishaw PLC, Medtronic PLC, Smith & Nephew PLC, Brainlab and NuVasive Inc.

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