A new report predicts the surgical robot device market to reach $20 billion by 2021, as next generation devices, systems and instruments are introduced to manage surgery through small ports in the body instead of large open wounds.
This would be a significant jump from the $3.2 billion valuation in 2014.
The report, prepared by the Market Research Store, analyzes procedure numbers, units sold, market value, forecasts, as well as a detailed competitive market shares and analysis of major players' success, challenges, and strategies in each segment and subsegment.
"Existing open surgery can be replaced in large part by robotic minimally invasive surgery during the forecast period," explained Susan Eustis, Lead Author of the study. "Minimally invasive robotic surgery, new robotic radiation treatment, and emerging robotic surgical approaches complement existing surgery techniques."