Global Medical Robots Market: Minimally Invasive Surgical Procedures Demand Encouraging the Usage of Medical Robots

Global Medical Robots Market

Medical robots are automated mechanical components and robots that improve the delivery & quality of healthcare services. These robots differ on the basis of the functioning they provide and therefore are of different varieties. These robots provide surgical assistance, diagnostic improvements and rehabilitation of patients as well as providing pharmaceuticals. They can even perform certain high-risk surgical procedures while also assisting surgeons by acting as their tele manipulator in the operating room.

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Medical robots market is growing due to effectiveness and variations in providing rehabilitation, technological advancements of medical robots; the effects of these factors are mentioned below:

  • Effectiveness and variations in providing rehabilitation: The demand for highly effective and efficient rehabilitation procedure is in increased demand, which is increasing the adoption rate for medical robots. This is because these robots can carry greater weight load without the chances of patients suffering from falls or failures. These robots can improve the overall healthcare servicing, as they result in reduction of patients undergoing rehabilitative processes. They also exhibit certain different methods for rehabilitation as compared to traditional rehabilitation processes which are not being as effective for the patient
  • Technological advancements of medical robots: Various medical device manufacturers have started various collaborative strategies and involving physicians, surgeons that are expert in their fields to improve the overall operability of the medical robots. These experts have provided valuable insights and inputs to the manufacturers resulting in various innovations and technical advancements of the robots. This strategy is increasing the potential for further collaborative processes and innovations in the robotic field

Regional expansion and strategic acquisitions utilized by the manufacturers:

  • In February 2019, Johnson & Johnson Services, Inc. announced that they had agreed to acquire Auris Health for USD 3.4 billion, with additional USD 2.35 billion agreed in the deal as milestone payments depending on certain targets. This acquisition will help Johnson & Johnson improve their medical devices offerings which will be able to offer safer surgical procedures and solutions to hospitals and patients
  • In November 2018, Panasonic Corporation announced that they will launch two of their assisted robots for the Indian market by early 2019. The robots include a robot which will assist users in carrying luggage while the other one is a walk-assisting robot which will be initially launched for hospitals. These robots are set to be provided to hospitals before indulging in consumer sales. The company is looking to invest heavily in the region with in-region production facilities which will supply company’s products across the entire Asia-Pacific countries

The market is segmented on the basis of product as instruments & accessories, surgical robots, rehabilitation robots, noninvasive radiosurgery robots, hospital & pharmacy robots, other robots; application is categorized into laparoscopy, orthopedic surgeries, neurosurgeries, pharmacy applications, others.

“According to Data Bridge Market Research, global medical robots market is expected to be growing at a healthy CAGR of 21.8% during the forecast period of 2019 to 2026”

Some of the major players operating in market are Intuitive Surgical, Stryker, Hocoma, Mazor Robotics, CMR Surgical Ltd, Auris Health Inc., Accuray Incorporated, Omnicell Inc., ARxIUM, Ekso Bionics, Capsa Healthcare, TransEnterix Surgical Inc., Stereotaxis Inc., ReWalk Robotics, Titan Medical Inc., Medtech SA, Aethon, Medrobotics Corporation, InTouch Technologies Inc., McKesson Corporation, Renishaw plc., Varian Medical Systems Inc., OR Productivity PLC and Siemens Healthcare GmbH.

The market is witnessing a growing CAGR due to the wide-spread preference of individuals to undergo minimally invasive surgical procedures. This preference of patients has induced the need for certain innovations and advancements in technology of medical devices requiring better operational efficiency as well as accuracy. This demand for innovations is also one of the major factors behind the wide-spread adoption of medical robots which exhibit significantly high accuracy than traditional medical devices promoting their effectiveness in hospitals whether that be for surgeries, diagnosis or assistance of surgeons.