The rehabilitation robotics and hospital & pharmacy robotics segments collectively accounted for around one-third of the market share in 2015, and is projected to maintain dominance throughout the forecast period.
The major factors boosting the Medical Robotics and Computer – Assisted Surgery Market growth include a shifting trend from conventional surgery to advanced robotic surgery, growing adoption of robotics prosthetic & exoskeleton for rehabilitation therapeutics, and rising incidence of cancers and other critical disorders. In addition, rising emphasis on hospital & pharmacy automation and presence of high unmet medical needs in developing and underdeveloped economies are anticipated to drive the demand for medical robotics and computer-assisted surgical systems.
The global market is expected to garner $20.5 billion by 2022. The surgical robotics segment was the highest revenue-generating segment, accounting for nearly half of the market share in 2015, and is expected to maintain its dominance throughout the forecast period.
The surgical robotic systems market achieved prominence in the recent years, owing to rapid technological advancements, increasing investments in R&D, and its extensive application in critical surgeries such as cardiac, orthopedic, and neurosurgery. Furthermore, a wide scope of applications in different surgeries, increasing demand for advanced medical facilities, and rising incidence of diseases, such as cancer and obesity, majorly supplement the growth of the global surgical robotic systems market. In case of rehabilitation robots, the medical robotics and computer-assisted surgery market gained popularity because of the rising aging population prone to the physical disabilities and growing need of automated-assistive rehabilitation solutions.
On the contrary, high costs of surgical robotic procedures, surgical systems, and rehabilitation exoskeleton; lack of awareness about advance robotic solutions; and inadequate presence of trained personnel are major factors that impede the market growth.
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The global medical robotics and computer-assisted surgery market is segmented into surgical robotics, rehabilitation robotics, non-invasive radio-surgical robotics, and hospital & pharmacy robotics. The surgical robotics market is further segmented into components, indications, and geography. Based on indications, it is segmented into gynecology, urology, orthopedic, neurology, and general surgeries. Based on component, it is segmented into systems, accessories, and services. The rehabilitation robotics market is further categorized into components, types, and geography. Based on component segment, the market is divided into products and services. Based on type, the market is segmented into prosthetics, orthotics, and exoskeleton.
Key Findings of Medical Robotics Surgery Market:
- The rehabilitation robotics market is projected to register the highest CAGR of 20.8% during the forecast period.
- In surgical robotics, the accessories segment is expected to maintain its market foothold.
- In 2015, prosthetics was the highest revenue-generating segment, whereas exoskeleton is projected to be the fastest growing segment in the rehabilitation robotics market during the forecast period.
- The medication-dispensing robotics segment generated the highest revenue, which accounted for over half of the hospital and pharmacy robotics market share in 2015.
- In 2015, gynecology and urology surgery segments collectively accounted for about half of the surgical robotics market.
- Asia-Pacific is likely to be the fastest growing market, growing at a CAGR of 16.5% from 2015 to 2022.
- In 2015, North America and Europe collectively accounted for around three-fourths of the global medical robotics and computer-assisted surgery market revenue.
The key companies profiled include Intuitive Surgical, Inc., Blue Belt Technologies Ltd., Think Surgical, Inc., Hansen Medical, Inc., MAKO Surgical Corp., Renishaw plc., Stanmore Implants Worldwide, Ltd., Mazor Robotics Ltd., ReWalk Robotics, Smith & Nephew, Ekso Bionics, Hocoma AG, Titan Medical Inc., and Hitachi Medical Systems.