The U.S. surgical robot market is expected to grow at a CAGR of 9.5% during the forecast period with its market size predicted to reach USD 4,430.7 million by 2024. The U.S. surgical robots market is primarily driven by the technological advancements, high prevalence of neurological disorders, high healthcare expenditures, benefits of surgical robots, increasing number of research and development activities, increasing geriatric population, and presence of large number of industry players. The Vinci Surgical System, Renaissance Surgical System, Mazor X are the key brands primarily adopted in the U.S. market.
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Also, increasing number of research and development activities, increasing geriatric population, presence of large number of industry players, high healthcare expenditures are leading to the growth in the surgical robot market in the U.S. The U.S. spends a significant portion of its GDP over healthcare which leads to the developed infrastructure in the country. For instance, as per the U.S. National Health Expenditure Accounts (NHEA), U.S. health care expenditure increased 3.9% in 2017, reaching USD 3.5 trillion or USD 10,739 per person, amounting 17.9% of the country’s GDP.
Stringent regulatory norms, high cost of robotic systems are the key factors hindering the growth of the market in the U.S. Stringent regulatory norms set by the U.S. Food and Drug Administration (FDA) hinder the approval of the new robotic systems in the U.S. The approval gets delayed due the stringent regulations and thus industry players have to wait for many years before their product gets approval for the marketing.
Some of the key players operating in the U.S. surgical robots industry are Intuitive Surgical Inc., Stryker Corporation, Mazor Robotics (Acquired by Medtronic plc), Medtech SA (Acquired by Zimmer Biomet), Accuray Incorporated, Smith & Nephew plc, Renishaw plc, Auris Health, Inc. (Acquired by Johnson & Johnson), Medrobotics Corporation, Varian Medical Systems, Stereotaxis, Inc., Titan Medical Inc., Think Surgical Inc., and TransEnterix, Inc.
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