Medical Robotics Market Outlook, Share, Growth Forecast Global Industry Outlook 2016 - 2030
Market Analysis
Medical Robotics
Market size was valued at USD 7.3 billion in
2021 and is projected to grow from USD 8.45 Billion in 2022 to USD 23.6 billion
by 2030, exhibiting a compound annual growth rate (CAGR) of 15.8% during the
forecast period (2022 - 2030). This projection has been made by Market Research
Future in their latest market report on the subject. Medical robots and
robotics systems optimize revolutionary technology to improve existing global
healthcare standards with a much lower margin for error. The global medical
robots’ market is rife with opportunity and is expected to flourish during the
assessment period.
Maintenance
costs of high-end medical costs
and the costs associated with the treatment which use medical robots are expensive and as such are expected to restrict growth
for the market during the review period. However, the potential of this market
offers many opportunities for market expansion and growth. Technological
advancements are expected to significantly improve existing technology over the
course of the forecast period.
Medical Robotics Market Outlook Research
Report: By Product (Surgical Robotic Systems, Rehabilitation Robotic Systems,
Hospital & Pharmacy Robotic Systems, Noninvasive Radiosurgery Robotic
Systems and others), Application (Laparoscopy, Neurosurgery, Cardiology,
Orthopedic Surgery and Pharmacy Applications), End User (Hospitals and Clinics,
Specialty Centers, Rehabilitation Centres and others) and Region (the Americas,
Europe, Asia-Pacific and Middle East & Africa)
Medical
robots offer unmatched accuracy and have proven to greatly reduce the risk of
morbidity in various surgical procedures. Successful use of medical robots in
performing surgical procedures such as cardiothoracic procedures and general
surgical procedures to name a few. The precise capability of this technology to
provide treatment with the lowest possible margin for error is a key driver of
market growth. Other drivers encouraging global demand for medical robots
include the prevalence of various diseases due to changing lifestyles,
improving reimbursement policies and the increasing awareness regarding the
technology.
Market Segmentation
Segmentation
of the global Medical Robotics Market Insights has been performed based on product, application, and
region.
·
By product, the market has been segmented into medical
robotic systems, rehabilitation services,
hospitals & pharmacies, accessories, and others. Further sub-segmentation
is as follows: Medical robotic systems - neurosurgical robotic systems,
orthopedic robotic systems, laparoscopy surgical robotic systems and others.
Rehabilitation services - prosthetic robots, orthotics robots, assistive
robots, therapeutic robots and others. Hospitals & pharmacies - pharmacy
robot, I.V. robots and others
·
By
application, the market has been segmented into
cardiology, neurology, laparoscopy, rehabilitation, and others.
·
By region, the global market has been segmented into the
Americas, Europe, the Asia-Pacific and the Middle East & Africa.
Regional Analysis
The
Americas due to their inclusion of the US and Canada lead the market with the
most significant market share. The developed countries of this region have a
strong tendency to adopt the latest in technology rapidly. Additionally, the region
features the presence of strong competitors, a well-established healthcare
sector in the countries mentioned above and have high healthcare expenditure
which promotes adoption of medical robotics. The increasing demand for
automation and the effort to reduce morbidity rates, contribute to the growth
of the market. Europe, with its similar growth pattern to the Americas, has the
second largest share of the total market.
The
Asia-Pacific is expected to be a significant region during the forecast period due
to the presence of huge opportunities. The rapidly improving infrastructure and
the demand for healthcare facilities and treatment options equivalent to those
in developed countries are expected to prompt robust growth for the global
medical robotics market during the assessment period.
Key Players
Some of
the Medical Robotics Market Players who have been identified and analyzed in
the report include
·
Stryker
Corporations,
·
Aethon
Inc.,
·
Smith
& Nephew Ltd.,
·
InTouch
Health Technologies, Inc.,
·
Intuitive
Surgical, Inc., and
·
Medtech
SA.
Other
players included are
Auroba
Biomed Inc., Mazor Robotics Ltd., Titan Medical, Inc.,Hocoma AG,Varian Medical
System, Inc., Ekso Bionics Holdings, Inc., Hansen Medical, Inc., Transenterix,
Inc., ZOLL medical corp, KUKA Roboter GmbH, Carefusion Inc., Kinova, Myomo
Inc., ReWalk Robotics, and Medrobotics Corporation.
Latest Industry News
·
The
Weirton Medical Center which is located in West Virginia, U.S.A has upgraded to
an advanced robotic surgery device called Vinci Surgical System Xi which was
developed by NASA to assist in surgeries in outer space in cases of emergency.
Surgeons have noticed that they can perform finer movements and the powerful
camera makes anatomy more readily visible.
·
A noted
figure in the medical robotics field and the man behind Intuitive Surgical,
Frederic Moll, has set up a new start-up called Auris Health which uses
second-generation robotics to improve early diagnosis of lung cancer. Early
diagnosis is key to a higher survival rate of lung cancer.
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