Intuitive Surgical, Inc. Dominating the Market for Global Surgical Robots Market In 2016

Surgical Robots Market is expected to reach USD 14.7 billion by 2024 from USD 5.2 billion in 2016, at a CAGR of 13.7% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. Instruments market has the largest market segment in surgical robots market.

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The Global Surgical Robots Market is highly concentrated to a big player and rest to local players who cater to domestic markets only. Intuitive Surgical, Inc., dominated the surgical robots market accounting for the highest market share in 2016, followed by Accuray Inc., Mazor Robotics, Restoration Robotics, Medtech S.A. Other players in this market include Verb Surgical Inc., Auris Surgical Robots, Med Robots Corporation, Virtual Incision Corporation, Think Surgical, Inc., Hansen Medical, Re Walk Robots, and Hocoma AG.

Intuitive Surgical Inc. :

Founded in 1995 as Intuitive Surgical, Inc., and head quartered in Sunnyvale, California, U.S. is focused on designing, developing, manufacturing and marketing of robotic technologies and other related instruments and accessories. The company operates through three business segments: systems, instruments and accessories, and services and training.

Recent Developments:

• In April 2017, Intuitive Surgical, Inc., a leading global surgical robotic company, announced that it has received CE Mark for its new da Vinci X Surgical System.
• In September 2016, Intuitive Surgical announced the joint venture with Fosun Pharma to research, develop, and manufacture innovative robotic assisted catheter medical devices.

Mazor Robotics:

Founded in 2001 and headquartered in Caesarea, Isreal. Mazor Robotics is engaged in the development, production, and marketing of medical devices used for surgical procedures in the fields of nanosurgery and orthopaedics. Mazor robotics operates in the field of image-guided surgery and computer assisted surgery.

Recent Developments:

• In April 2017, Mazor Robotics announced FDA approval for its Mazor X Align software.
• In August 2016, Mazor Robotics announced the completion of the second tranche of the equity investment by Medtronic.

Stryker

Founded in 1941 by Dr. Homer H. Stryker and headquartered in Michigan, U.S. Stryker Corporation specializes in reconstructive, medical and surgical, and neuro technology and spine products. The company has three business segments- orthopedic implants, MedSurg, and Neurotechnology and spine.

Recent Developments:

• In August 2015, Stryker announced the FDA approval for MAKO total knee application. This will enable Stryker to enter the market for surgical robots.