Medical robots are the professional service robots that as the name suggests, are used in and out of the hospital facilities in order to improve the overall patient care. These robots are capable enough to carry out several tasks; be it easier or complicated. These robots are specially designed to be of use in medical and for healthcare facilities and assist the doctors and surgeons in surgeries. During surgeries, these robots are operated through computers by medical professionals and they offer higher level of accuracy and are precise. The term ‘robotic surgery’ refers to the surgery carried out by robots. This is a less-invasive surgery that can efficiently execute complicated surgeries through mini incisions, while leaving minute scar tissue behind.
Medical robots market is estimated to be over US$ 6.0 Bn in 2018. It is anticipated to grow at a 20.6% CAGR from 2019 to 2030.
The continual growth of the medical robots market can be attributed to several factors which have led to wide-scale adoption of these products. The introduction of number of medical robots has enhanced medical practice due to the advanced technologies. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on innovation and advancements in technologies. To keep up the substantial growth of the global medical robotics market, companies are raising their funds for medical robots research. For instance, Auris Health, Inc. has raised $220 Mn to support its next generation monarch robotic interventional platform. However, safety concerns over robotic surgery devices can restrain the growth of overall market.
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Major Key Players of the Medical Robots Market are:
Intuitive Surgical, iRobot Corporation, Mazor Robotics, Auris Health, Accuray, Ekso Bionics Holdings Inc., Arxium, Kirby Lester, Stereotaxis,, Titan Medical among others.
Technological Advancements:
Over the period, the evolution in innovation and technology has played a significant role in contributing to the growth of the global medical robots industry. The innovation of robotic partial nephrectomy techniques has led to increase the technical advances in the performance of partial nephrectomy surgery and improved the outcomes of nephron sparing surgery. Moreover, due to the advancements in robotic surgical methodology, patients are getting benefits such as shortened hospital stay and reduced pain after surgery. Additionally, advances in robotic colonoscopy helps to remove risks of cross infection of the colonoscope to the patient. These factors are anticipated to present a lucrative growth opportunity for the global medical robots market in the coming years.
The Medical Robots Market is segmented on the basis of Product Type, Application and region.
Major Types of Medical Robots Market covered are:
- Surgical Robotic Systems
- Rehabilitation Robotic System
- Hospital & Pharmacy Robotic System
- Noninvasive Radiosurgery Robotic System
Major Applications of Medical Robots Market covered are:
- Laparoscopy
- Orthopedic Surgery
- Pharmacy Applications
- Neurosurgery
Raise in Fund for Medical Robot Research:
Fundraising plays a vital role in strengthening the medical robot industry for long run survival. For instance, The University of South Alabama got approval of $1.7 Mn from the USA foundation board to purchase two new medical robots. Furthermore, CMR surgical Ltd. has raised $ 46 Mn in total from existing investors. Moreover, Japanese company called Meltin MMI has raised $18 Mn for developing new avatar robots and medical robots. Increasing R&D investments and spending is anticipated to positively contribute to the growth of the global medical robots market.
Research objectives:-
– To study and analyze the global Medical Robots consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Medical Robots Market by identifying its various sub-segments.
– Focuses on the key global Medical Robots manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Medical Robots with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
- INTRODUCTION
- Market Definition
- Market Ecosystem
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Regulatory Landscape Assessment
- Application Horizon Assessment
- Technological Advancements
- GLOBAL MEDICAL ROBOTS MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Surgical Robotic Systems
- Laparoscopic Robotic Systems
- Orthepedic Robotic Systems
- Neurosurgical Robotic Systems
- Rehabilitation Robotic Systems
- Therapeutic Robotic Systems
- Assistive Robotic Systems
- Exoskeleton Robotic Systems
- Other Rehabilitation Robotic Systems
- Hospital & Pharmacy Robotic Systems
- Pharmacy Robotic Systems
- IV Robotic Systems
- Noninvasive Radiosurgery Robotic Systems
- Other Robotic Systems
- Accessories
- Surgical Robotic Systems
- GLOBAL MEDICAL ROBOTS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Laparoscopy
- Orthopedic Surgery
- Pharmacy Applications
- Neurosurgery
- Other Applications
- GLOBAL MEDICAL ROBOTS MARKET – ANALYSIS & FORECAST, BY REGION
- North America Medical Robots Market
- Europe Medical Robots Market
- Asia Pacific Medical Robots Market
- Rest of the World (ROW) Medical Robots Market
- COMPETETIVE LANDSCAPE
- Market Share Analysis (2018)
- Key Strategies Assessment
- New Product & Services Launches
- Merger & Acquisitions
- Agreements, Collaborations, & Partnerships
- Expansions
- Other Strategies
- COMPANY PROFILES (Business Overview, Products & Services Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
- Intuitive Surgical, Inc.
- iRobot Corporation
- Mazor Robotics
- Auris Health, Inc.
- Accuray
- Ekso Bionics Holdings Inc.
- Arxium
- Kirby Lester
- Stereotaxis, Inc.
- Titan Medical
*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
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