Growing popularity in surgical robotics
The global surgical robot market size was valued at USD 4.0 billion in 2015 and is expected to grow at a CAGR of 20.03% over the next eight years. The rising incidences of chronic conditions coupled with increasing geriatric population prone to these diseases drive the probability of surgical intervention, hence propelling the industry growth. The prevalence of conditions such as diabetes, cancer, cardiovascular, disorders and neurological disorders is growing globally. For example, the increasing adoption of the technology to treat cancer and benign tumors is also expected to support growth over the next eight years.
New systems now in development are expected to provide intuitive control, enhanced visualization, and higher dexterity along with cost efficiency in comparison to the already existing products, thereby boosting the demand of the surgical robots.