Medical Robots Market to surge 21 percent

Major market players in the medical robots market include Intuitive Surgical (US), Stryker Corporation (US), and Mazor Robotics (Israel). Other players in the medical robots market include Hocoma (Switzerland), Hansen Medical (US), Accuray (US), Omnicell (US), Arxium (Canada), and Ekso Bionics Holdings (US).
Medical robotics is an emerging field in healthcare that has been causing a paradigm shift in healthcare as it improves the quality of patient care. Demographic change, shortage of healthcare professionals, need to improve quality of life for the disabled and elderly, and need to improve surgical procedures coupled with the focus to develop technologically advanced robots are some of the factors expected to stimulate the adoption of medical robots.

Medical robots are set to revolutionize the healthcare sector

From Driverless cars being rolled out recently to robots performing surgeries, technology has surely made a stellar progress. One such example is medical robots. Medical robots are set to revolutionize the healthcare sector, especially surgeries, since they are becoming more and more acceptable, globally. They not only help in reducing the time of surgery but also ensure the accuracy of the whole process coupled with better quality of patient care, thereby increasing the demand for surgical robots across the globe.

The key factors propelling the growth of the Medical Robots Market are technological advancements in medical robots, advantages offered by robot-assisted training in rehabilitation therapy, increase in funding for medical robot research, and the issuance of IPOs by medical robot companies. Rapid growth in the geriatric population and rising patient preference for minimally invasive surgeries is likely to offer growth opportunities during the forecast period. Base year considered for the report is 2017 and the forecast period is 2018–2023.

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Objectives of the Study:

  • To define, describe, and forecast the medical robots market on the basis of product, application, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To forecast the size of market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To analyze the market structure, profile key players of the market, and comprehensively analyze their core competencies
  • To track and analyze competitive developments such as new product launches; partnerships, agreements, and collaborations; expansions; and acquisitions in the medical robots market

Research Methodology:

Top-down and bottom-up approaches were used to validate the size of the medical robots market and estimate the size of other dependent submarkets. Various secondary sources such as Minimally Invasive Robotic Association (MIRA), Clinical Robotic Surgery Association (CRSA), Orthopaedic Rehabilitation Association (ORA), Association for the Advancement of Assistive Technology in Europe (AAATE), Society of Urological Robotic Surgeons (SURS), Society of Robotic Surgery (SRS), Polish Society of Surgical Oncology (POSS), South Eastern European Robotic Surgery Society (SEERSS), Asian Society for Gynecologic Robotic Surgery, Centers for Disease Control and Prevention (CDC), directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market.

Medical robots are igniting interest of all the stakeholders in the healthcare industry physicians, health care professionals, providers, payers, technologists, planners and even the government. For instance, citing the benefits offered by rehabilitation robots, Japan’s Health Ministry has approved Cyberdyne’s HAL exoskeleton suit as a medical device thus covering it under the public health insurance system. 

This report provides qualitative assessment of the price variation in medical robots of varied types (surgical/rehabilitation/non-invasive radiosurgery/hospital & pharmacy), selection criteria of adopting medical robots from end-user perspective, buying cycle, price wars, and cost-benefits offered by the robots based on existing research studies.

Scope of the Report:

The research report categorizes the medical robots market into the following segments and subsegments:

Medical Robots Market, By Product

  • Instruments & Accessories
  • Robotic Systems
  • Surgical Robotic Systems
  • Laparoscopy Robotic Systems
  • Orthopedic Robotic Systems
  • Neurosurgical Robotic Systems
  • Rehabilitation Robotic Systems
  • Therapeutic Robotic Systems
  • Assistive Robotic Systems
  • Exoskeleton Robotic Systems
  • Other Rehabilitation Robots
  • Noninvasive Radiosurgery Robotic Systems
  • Hospital and Pharmacy Robotic Systems
  • Pharmacy Robotic Systems
  • IV Robotic Systems
  • Other Robotic Systems

Medical Robots Market, By Application

  • Laparoscopy
  • Orthopedic Surgeries
  • Neurosurgeries
  • Pharmacy Applications
  • Other Applications

Medical Robots Market, By Region

  • North America
  • US
  • Canada
  • Europe
  • EU5
  • Rest of Europe (RoE)
  • APAC
  • Rest of the World

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