Market Overview:
The global medical robotics market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for minimally invasive surgeries, technological advancements in medical robotics, and rising healthcare expenditure. The surgical robotics segment is expected to account for the largest share of the global medical robotics market in 2018. This segment is driven by the increasing demand for minimally invasive surgeries and technological advancements in surgical robots. The rehabilitation robotics segment is projected to grow at the highest CAGR during the forecast period owing to its growing applications in physical therapy and post-operative care. In terms of application, hospitals are expected to account for the largest share of the global medical robotics market in 2018 followed by clinics. Hospitals are increasingly adopting robotic technologies due their benefits such as improved accuracy, reduced surgery time, and minimized tissue damage.
Product Definition:
Medical robotics is the application of robotic technology to medicine and healthcare. It is a multidisciplinary field that includes engineering, computer science, biology and medicine. Medical robotics has many applications, including surgery, rehabilitation and assistive devices.
Surgical Robotics:
Surgical robotics is a technique that uses robotic devices and computer software to perform surgical procedures. The advantages of using robots include reduced blood loss, less damage to the surrounding tissue, increased accuracy & efficiency in surgeries, and shorter hospital stays.
The global market for surgical robotics was valued at over USD 1 billion in 2014.
Rehabilitation Robotics:
Rehabilitation robotics is a set of technologies that help physically disabled people to take up new activities. It helps them to move around and perform daily tasks easily with the help of robotic devices. These devices are used for providing therapy as well as helping patients recover from injuries or physical disabilities.
The global rehabilitation robotics market size was valued at USD 1,849.9 million in 2016.
Application Insights:
The hospital application segment accounted for the largest revenue share in 2017 and is anticipated to maintain its dominance over the forecast period. The hospital application of robotics assists surgeons in operating rooms, intensive care units, and emergency rooms with minimal human intervention. It also helps reduce patient¢â‚¬â„¢s anxiety by providing them remote access to medical images captured by cameras installed on robots.
The clinic application segment is expected to exhibit a lucrative CAGR during the forecast period owing to increasing demand for minimally invasive surgeries that require little or no muscle movement on part of patients. Moreover, rising awareness about benefits associated with robot-assisted surgeries such as reduced pain & trauma due to better visualization offered by robots will boost market growth over the coming years.
Regional Analysis:
North America dominated the global market in 2017. The growth can be attributed to the presence of major players, favorable reimbursement policies, and increasing healthcare expenditure in this region. For instance, as per a research published by Global Health Management Corporation in 2016; it was estimated that an average hospital stay costs around USD X per day for each patient. Thus, with rising healthcare expenditure it is expected that demand for robotics will grow over the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to factors such as improving infrastructure and growing medical tourism industry which are driving demand for advanced technologies such as robotics systems used during surgeries or rehabilitation programs offered by robots at low cost compared to other developed regions like Europe or North America. Moreover, increasing investments from international companies are expected to drive regional market growth further on account of growing adoption of these systems within various hospitals & clinics across countries like China & Japan among others (Kumar et al., 2015).
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global medical robotics market is expected to grow at a CAGR of over 16% during the forecast period. This is primarily owing to the increasing demand for minimally invasive surgeries, which are performed using robots. These surgeries are less invasive and cause less pain and trauma as compared to traditional surgery methods.
- Growing number of surgical procedures: The number of surgical procedures being performed across the globe is increasing rapidly, which is driving the growth of the medical robotics market. According to a study by MarketsandMarkets, the global medical robotics market was valued at USD 5.31 billion in 2016 and is projected to reach USD 11.80 billion by 2023, at a CAGR of 16%.
- Rising prevalence of chronic diseases: The prevalence of chronic diseases such as cancer, cardiac disorders, and orthopedic disorders is rising rapidly across the globe due to changing lifestyles and aging population trends. This has led to an increase in demand for advanced robotic-assisted surgical procedures that can help improve patient outcomes significantly compared with traditional surgery methods alone..
Scope Of The Report
Report Attributes
Report Details
Report Title
Medical Robotics Market Research Report
By Type
Surgical Robotics, Rehabilitation Robotics, Telepresence Robotics, Other
By Application
Hospital, Clinic
By Companies
Intuitive surgical, Accuracy Inc., Stryker corporation, Hocoma AG, Mazor robotics, Titan Medical, Hansen medical Inc, Medtech S.A, Kuka Roboter GmbH, Irobot Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Medical Robotics Market Report Segments:
The global Medical Robotics market is segmented on the basis of:
Types
Surgical Robotics, Rehabilitation Robotics, Telepresence Robotics, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Intuitive surgical
- Accuracy Inc.
- Stryker corporation
- Hocoma AG
- Mazor robotics
- Titan Medical
- Hansen medical Inc
- Medtech S.A
- Kuka Roboter GmbH
- Irobot Corporation
Highlights of The Medical Robotics Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Surgical Robotics
- Rehabilitation Robotics
- Telepresence Robotics
- Other
- By Application:
- Hospital
- Clinic
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Medical Robotics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Medical robotics is a subset of robotic technology that is used in healthcare. It refers to the use of robots for medical procedures, such as surgery and diagnostic imaging. Medical robotics has many applications, including assisting doctors during surgeries and providing support for patients during medical tests and treatments.
Some of the major companies in the medical robotics market are Intuitive surgical, Accuracy Inc., Stryker corporation, Hocoma AG, Mazor robotics, Titan Medical, Hansen medical Inc, Medtech S.A, Kuka Roboter GmbH, Irobot Corporation.
The medical robotics market is expected to register a CAGR of 10.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Medical Robotics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Medical Robotics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Medical Robotics Market - Supply Chain
4.5. Global Medical Robotics Market Forecast
4.5.1. Medical Robotics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Medical Robotics Market Size (000 Units) and Y-o-Y Growth
4.5.3. Medical Robotics Market Absolute $ Opportunity
5. Global Medical Robotics Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Medical Robotics Market Size and Volume Forecast by Type
5.3.1. Surgical Robotics
5.3.2. Rehabilitation Robotics
5.3.3. Telepresence Robotics
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Medical Robotics Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Medical Robotics Market Size and Volume Forecast by Application
6.3.1. Hospital
6.3.2. Clinic
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Medical Robotics Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Medical Robotics Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Medical Robotics Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Medical Robotics Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Medical Robotics Demand Share Forecast, 2019-2026
9. North America Medical Robotics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Medical Robotics Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Medical Robotics Market Size and Volume Forecast by Application
9.4.1. Hospital
9.4.2. Clinic
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Medical Robotics Market Size and Volume Forecast by Type
9.7.1. Surgical Robotics
9.7.2. Rehabilitation Robotics
9.7.3. Telepresence Robotics
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Medical Robotics Demand Share Forecast, 2019-2026
10. Latin America Medical Robotics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Medical Robotics Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Medical Robotics Market Size and Volume Forecast by Application
10.4.1. Hospital
10.4.2. Clinic
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Medical Robotics Market Size and Volume Forecast by Type
10.7.1. Surgical Robotics
10.7.2. Rehabilitation Robotics
10.7.3. Telepresence Robotics
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Medical Robotics Demand Share Forecast, 2019-2026
11. Europe Medical Robotics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Medical Robotics Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Medical Robotics Market Size and Volume Forecast by Application
11.4.1. Hospital
11.4.2. Clinic
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Medical Robotics Market Size and Volume Forecast by Type
11.7.1. Surgical Robotics
11.7.2. Rehabilitation Robotics
11.7.3. Telepresence Robotics
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Medical Robotics Demand Share, 2019-2026
12. Asia Pacific Medical Robotics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Medical Robotics Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Medical Robotics Market Size and Volume Forecast by Application
12.4.1. Hospital
12.4.2. Clinic
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Medical Robotics Market Size and Volume Forecast by Type
12.7.1. Surgical Robotics
12.7.2. Rehabilitation Robotics
12.7.3. Telepresence Robotics
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Medical Robotics Demand Share, 2019-2026
13. Middle East & Africa Medical Robotics Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Medical Robotics Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Medical Robotics Market Size and Volume Forecast by Application
13.4.1. Hospital
13.4.2. Clinic
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Medical Robotics Market Size and Volume Forecast by Type
13.7.1. Surgical Robotics
13.7.2. Rehabilitation Robotics
13.7.3. Telepresence Robotics
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Medical Robotics Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Medical Robotics Market: Market Share Analysis
14.2. Medical Robotics Distributors and Customers
14.3. Medical Robotics Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Intuitive surgical
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Accuracy Inc.
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Stryker corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hocoma AG
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mazor robotics
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Titan Medical
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Hansen medical Inc
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Medtech S.A
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Kuka Roboter GmbH
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Irobot Corporation
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook