In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
November 2021- Medtronic announced that it will launch robotic assisted surgery procedures in the Indian market, with the aim of improving access to quality healthcare for patients.
February 2019- Johnson & Johnson acquired California-based surgical robot startup Auris Health for USD 3.4 billion in cash to expand its digital surgery business.
Ans: The major factors driving market growth are increasing healthcare expenditure across the globe, and growing private and venture funding for medical robot research.
Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022-2031.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the growing demand for surgical robots in China and India, and rising advancements in surgical systems in the region.
Ans: The major players in the market are Accuracy Inc., Intuitive Surgical, Inc., Auris Surgical Robotics, Medtech SA, Stryker Corporation, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by component, application, end user, and by region.
Ans: The urology segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: High cost of robotic systems is estimated to hamper the market growth.