The Medical Robotics technology has proven to be far more useful than other similar technologies of medical science, operating machines remotely to perform surgeries and can offer improved treatments. This technology is used across the verticals of healthcare making a number of surgical procedures easier & successful. Due to the increasing number of cardiothoracic, urological, and general surgeries, the technology is garnering a huge prominence, worldwide.
As the medical robotics advances, the market has grown more, garnering more prominence & traction across the globe. Acknowledging the potential of the market to increase further, Market Research Future (MRFR) in its recently published study report asserts that the Global Medical Robotics Market will perceive a splendid growth by 2023 registering a double-digit CAGR of 20.8% during the forecast (2017 – 2023).
Other predominant factors propelling the market growth include augmenting demand for successful surgeries coupled with the prevalence of diseases & increasing cases of accidents. Additionally, growing investments transpired into R&D activities are improving the technology creating a significant revenue pocket in the market.
Increasing use of medical robots in healthcare is fostering the market growth of medical robotics to an extent. Furthermore, advantages the medical robotics offers; allowing surgeons to remotely perform surgeries even in emergencies through telesurgery, by merely operating a robot & an imaging device. This is the key factor driving the market growth.
On the other hand, since this technology is still in its embryonic stage, some factors such as the latency issues pertaining to the time gap between the instructions physicians give to direct the controls and machines’ response which results in robots getting programmed incorrectly, are impeding the market growth.
Global Medical Robotics Market – Competitive Analysis
Medical robotics is an emerging field. There are a lot of opportunities for the development of the market across the globe. Many companies are focusing on the development of the advances robotics which will be cost effective so as to increase the market. Some major companies have adopted strategies of acquisitions and strategic alliances for the growth of the market.
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Stryker Corporation is fortune 500 medical technologies firm headquartered in US. The company is working in the manufacturing of the different medical devices and technology and has introduced Mako robotic-arm assisted technology which helps surgeons provide patients with a personalized surgical experience. It is one of the most successful products of the company. In 2016, company has acquired Physio-Control International, Inc.
Smith & Nephew Plc. is a multinational UK headquartered medical equipment manufacturing company. In 2016, company has completed its acquisition of surgical robotics business Blue Belt Technologies. NAVIO has delivered more than 50% of the revenue growth in 2016.
Mazor Robotics is a medical device company and manufacturer of a robotic guidance system for spine surgery. In 2017, Mazor Robotics got FDA approval for its Mazor X Align software which will help Mazor Robotics to align leverage Mazor Robotics’ extensive experience in pre-operative planning, image processing, computerized anatomy recognition, and registration of different imaging modalities
Global Medical Robotics Market – Key Players
Stryker Corporation (US), Smith & Nephew Ltd. (UK), Aethon Inc. (US), Intuitive Surgical, Inc. (US), Intouch Health Technologies, Inc. (US), Varian Medical System, Inc. (US), Medtech SA (France), Titan Medical, Inc. (US), Ekso Bionics Holdings, Inc. (US), ReWalk Robotics (Israel), Medrobotics Corporation (US), KUKA Roboter GmbH (Germany), Kinova (US), Myomo Inc. (US), Carefusion Inc.(US), Hocoma AG (Switzerland), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (US), Transenterix, Inc. (US), ZOLL medical corp (US), Auroba biomed Inc. (US)
Global Medical Robotics Market – Segmentation
Global Medical Robotics Market is segmented on the basis of products into medical robotic systems, rehabilitation services, hospitals and pharmacies, accessories and others. Medical surgical robotic system is further segmented into neurosurgical robotic systems, orthopedic robotic systems, laparoscopy surgical robotic systems and other. Rehabilitation services are further segmented into prosthetic robots, orthotics robots, assistive robots, therapeutic robots and other. Hospitals and pharmacies are further segmented into pharmacy robot, I.V. robots and other. On the basis of application, the market is segmented into cardiology, neurology, laparoscopy, and rehabilitation and other
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Global Medical Robotics Market – Regional Analysis
On regional basis, America dominates the global medical robotics market. America holds over 40% of total market owing to increasing demand for the robot-assisted surgeries, well developed healthcare infrastructure and high healthcare expenditure. Increasing need of automation and advanced devices has also contributed in the growth of the market. Europe has the second largest market which is followed by Asia Pacific. Due to presence of huge opportunities for development of market and continuously improving healthcare infrastructure are the key factor for the growth of the Asia Pacific market.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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