SEP 06,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Urology Robotic Surgery Market.
The Urology Robotic Surgery Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 11.5% during the forecast period.
Urology robotic surgery is a relatively hew field that uses robots to perform urology surgeries. These robotic surgeries are established to enhance the procedure guidance, improve the workflows, and peer collaboration during surgical procedures. These robots aim to maximize efficiency and reduce complications and time of urological surgeries. As it is minimally invasive, the precision of robotic technology is suitable for complex and delicate urological surgeries.
Market Dynamics
The advent of modern robotic operating systems and equipment such as unmanned surgeries & minimally invasive surgery equipment, remote surgeries, and production of low-cost robots are some of the key factors augmenting the market growth.
- The growing prevalence of urinary & kidney tract diseases, the rising geriatric population, and the growing preference for minimally invasive surgery are susceptible to urological infections, boosting the product demand.
- However, the high cost of urology robotic surgery and limited availability in developing countries are some of the factors hampering the market expansion.
Segment Analysis
Component Trends
Based on components, the global urology robotic surgery market has been classified into robotic surgery systems, instruments and accessories, services.
- Under these, the instruments and accessories segment held the largest market share in 2020 and is likely to grow at a consider CAGR during the forecast period.
- This is mainly attributed to the rising adoption of instruments and accessories by medical professionals conducting surgeries using robotic systems.
Regional Trends
By region, the North American market held the highest market share in 2020 and is projected to grow at a healthy CAGR in the coming years.
- This is mainly attributed to the high prevalence of urology disorders and the introduction of Nanorobotics.
- The increasing incidence of urology disorders is augmenting the regional market growth.
- Most product vendors in the regional market are focusing on R&D activities for the development of advanced robotic systems, further accelerating the regional market growth.
Key Players:
- Intuitive Surgical Inc. (The US),
- Blue Belt Technologies Ltd. (The US),
- Think Surgical Inc. (The US),
- Hansen Medical, Inc. (The US),
- MAKO Surgical Corp. (The US),
- Renishaw plc. (UK),
- Stanmore Implants Worldwide, Ltd. (UK),
- Mazor Robotics Ltd. (Israel),
- Titan Medical Inc. (Canada),
- SafeStitch Medical Inc. (The US).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Urology Robotic Surgery Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
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