Europe Medical Robots Market, By Type (External Large Robots, Geriatric Robot, Assistive Robots, Miniature in Vivo Robots), Product (Surgical Robots, Rehabilitation Robots, Hospital and Pharmacy Robots, Bio Robotics, Non-invasive Radio Surgery Robots, Telepresence Robots, Medical Transportation Robots, Sanitation and Disinfectant Robots), Modality (Compact, Portable), Components (Actuators, Sensors, Robot Controller, Patient Cart, Surgeon Console, Vision Cart, Dispensing System and Additional Products), Application (Research, Clinic, Pharmacy, and Others), End User (Hospitals, Specialty Clinics, Research Institutes, Ambulatory Surgical Centers, Laboratories, Rehabilitation Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, Third Party Distributors, Others), Country (U.K., Germany Italy, France, Spain, Russia, Netherland, Switzerland, Turkey, Belgium and Rest of Europe) Industry Trends and Forecast to 2029
Market Analysis and Insights : Europe Medical Robots Market
Europe medical robots market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the Europe medical robots market is growing with a CAGR of 15.3% in the forecast period of 2022 to 2029 and is expected to reach USD 8,260.88 million by 2029 from USD 2,861.39 million in 2021. Rising healthcare expenditure and escalation in innovation and Robots are poised to revolutionize the practice of medicine.
Artificial intelligence, miniaturization, and computer power are contributing to the rise in the design and use of robots in medicine. Medical robots had their start about 34 years ago when an industrial robot and computed tomography navigation were used to insert a probe into the brain to obtain a biopsy specimen
The drivers responsible for the growth of the medical robots market are the increase in the geriatric population, technological advancements of medical robots, an increase in the use of robot-assisted rehabilitation therapy, and an increase in funding for medical robots research. However, the factors that are expected to restrain the market are the high cost of robotic support devices and the limitations of the assisted robotic system.
- On the other hand, many strategic product launches and acquisitions by major companies in the medical robots market have opened up an opportunity for companies worldwide. These strategies are allowing the companies to strengthen their footprints in the market. The increasing regulatory frameworks may create challenges for the medical robots market. There are recent developments related to the medical robots market.
The Europe medical robots market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Medical Robots Market Scope and Market Size
Europe medical robots market is segmented on the basis of type, product, modality, components, application, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the Europe medical robots market is segmented into external large robots, geriatric robot, assistive robots, and miniature in vivo robots. In 2022, the external large robots segment is expected to dominate the Europe medical robots market due to the growing demand for the technological advancements in hospital industry and increasing hospital investment.
- On the basis of product, the Europe medical robots market is segmented into surgical robots, rehabilitation robots, hospital and pharmacy robots, bio robotics, non-invasive radio surgery robots, telepresence robots, medical transportation robots, sanitation and disinfectant robots. In 2022, external large robots segments expected to dominate the Europe market as it enable precise manipulation of surgical instruments beyond human ability in a small operation space.
- On the basis of modality, the Europe medical robots market is segmented into compact and portable. In 2022, the portable segment is expected to dominate the medical robots market as it reduces total cost of ownership and optimize system utilization and also the ability to autonomously move around.
- On the basis of components, the Europe medical robots market is segmented into actuators, sensors, robot controller, patient cart, surgeon console, vision cart, dispensing system and additional products. In 2022, actuators component segment is expected to dominate the medical robots market due to increase in the demand for innovative products to create motion in robots.
- On the basis of application, the Europe medical robots market is segmented into research, clinic, pharmacy and others. In 2022, the research segment is expected to dominate the medical robots market due to the anticipated to upsurge the demand of medical robots.
- On the basis of end user type, the Europe medical robots market is segmented into hospitals, specialty clinics, research institutes, ambulatory surgical centers, laboratories, rehabilitation centers and others. In 2022, the research institutes segment is expected to dominate the medical robots market due to increasing funding for medical robots research
- On the basis of distribution channel, the Europe medical robots market is segmented into direct tender, retail sales, third party distributors, others. In 2022, the direct tender is expected to dominate the medical robots market as it reduce costs through employing less staff members than retail outlets.
Europe Medical Robots Market Country Level Analysis
The Europe medical robots market is analyzed and market size information is provided based on type, product, modality, components, application, end user and distribution channel.
The countries covered in the Europe medical robots market report are Europe. These regions are further segmented into major countries such U.K., Germany, Italy, France, Spain, Russia, Netherland, Switzerland Turkey, Belgium and Rest of Europe.
U.K. is expected to dominate the Europe medical robots market due to rising technological advancement in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Increase in the Geriatric Population, Recent Advancements in The Robot Manufacturing System Technology, The Increase in The Use of These Robotic Applications in The Rehabilitation Centres in The Europe Are Creating New Opportunities for Players in The Market
The Europe medical robots market also provides you with detailed market analysis for every country growth in particular industry with the Europe medical robots market sales, impact of advancement in the Europe medical robots market and changes in regulatory scenarios with their support for the Europe medical robots market .The data is available for historic period 2011 to 2020.
Competitive Landscape and Europe Medical Robots Market Share Analysis
Europe medical robots market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe medical robots market
Major players covered in the report are Intuitive Surgicals, Medtronic, Kuka AG, Accuray Incorporated, Ekso Bionics, Capsa Healthcare, ReWalk Robotics, Renishaw plc, Hocoma, Asensus Surgical US, Inc., Paro Robots U.S., Inc., Yukai Engineering Inc., Stryker, Accuray Incorporated, Auris Health, Inc. (a subsidiary of Johnson and Johnson),CMR Surgical Ltd.,Stereotaxis, Inc.,InTouch Health Inc. (Subsidiary of Teladoc Health, Inc.) among others domestic and Europe players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies worldwide, which are further accelerating the Europe medical robots market
- In November 2021, Renishaw announced that an agreement was completed between them and Verisurf Software Inc., in North America. This helps company in expanding advancement of the technology and plan to support other REVO sensors.
- In 2020 February, Medtronic (U.S) acquired Digital Surgery, a pioneer in surgical artificial intelligence, data, and analytics. This has resulted in the expansion of Medtronic's robot-assisted surgical platform and portfolio.