Global Medical Robotic System Market, By Product (Surgical Robots, Rehabilitation Robots, Noninvasive Radiosurgery Robots, Hospital and Pharmacy Robots, Emergency Response Robotic Systems), Application (Neurology, Orthopedics, Laparoscopy, Special Education), End Users (Hospitals, Ambulatory Surgical Centers, Rehabilitation Centers, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Medical Robotic System Market
The medical robotic system market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 17.3% in the forecast period of 2021 to 2028 and is expected to reach USD 34.91 billion by 2028. The increasing rate of orthopedic and cardiac surgeries across the globe is escalating the growth of medical robotic system market.
Medical robotic systems refer to advanced systems that utilize robotics and automation for flawless surgeries. They could be seen in neurosurgeries, emergency room, smaller scale surgeries, radiology, and prosthetics. Several types of medical robotic systems are available specifically designed for particular requirements or needs. These systems assist in surgeries while improving the outcome of complex surgeries, decrease patient injuries and staying period in the hospitals.
The increase in technological development in the advanced medical systems such as, 3D-imaging, remote navigation, data recorders & data analytic, HD surgical microscopic cameras, robotic catheter control system (CCS), motion sensors and others is a major factor driving the medical robotic system market. Rise in demand for accurate laparoscopic surgeries among people and the increase in the adoption rate of medical robotic systems among medical professionals globally accelerate the medical robotic system market growth. These robots are capable of interacting with patients, checking their conditions and book appointments with the doctor which increases their demand. The increase in inclination towards non-invasive surgeries and increase in demand for medical robotic systems owing to their features such as flexibility, precision and efficiency also influence the medical robotic system market. Additionally, growing number of trauma cases, increase in healthcare expenditure and rise in need for surgical procedures in geriatric population positively affect the medical robotic system market. Furthermore, technological advancement and untapped market in developing nations extend profitable opportunity to the medical robotic system market players in the forecast period of 2021 to 2028.
On the other hand, the high cost of installation and maintenance of the system and the lengthy device adaptation time are factors expected to obstruct the medical robotic system market growth. Implementation of stringent regulations, concerns associated with the safety over these devices and lack of skilled professionals are projected to challenge the medical robotic system market in the forecast period of 2021-2028.
This medical robotic system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on medical robotic system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Medical Robotic System Market Scope and Market Size
Medical robotic system market is segmented on the basis of product, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
On the basis of product, the medical robotic system market is segmented into surgical robots, rehabilitation robots, noninvasive radiosurgery robots, hospital and pharmacy robots and emergency response robotic systems. Surgical robots are further segmented into orthopedic surgical robots, neurosurgical robotic systems, laparoscopy robotic systems and steerable robotic catheters. Rehabilitation robots are further segmented into assistive robots, prosthetics, orthotics, therapeutic robots and exoskeleton robotic systems. Noninvasive radiosurgery robots are further segmented into truebeam stx radiosurgery system, cyberknife robotic radiosurgery system and gamma knife perfexion radiosurgery system. Hospital and pharmacy robots are further segmented into telemedicine robots, I.V. Robots, pharmacy robots and cart transportation robots. Emergency response robots are further segmented into ls-1 robotic system and auto pulse plus robotic system.
On the basis of application, the medical robotic system market is segmented into neurology, orthopedics, laparoscopy and special education. Neurology is further segmented into pathfinder surgical system, neuromate surgical system and renaissance surgical system. Orthopedics is further segmented into iblock surgical system, robodoc surgical system, navio PFS surgical system, mako RIO surgical system and stanmore sculptor surgical system. Laparoscopy is further segmented into freehand endoscope holder system, da vinci robotic surgery system and telelap ALF-x surgical system.
On the basis of end users, the medical robotic system market is hospitals, ambulatory surgical centers, rehabilitation centers and others.
Global Medical Robotic System Market Country Level Analysis
Global medical robotic system market is analyzed and market size insights and trends are provided by country, product, application and end users as referenced above.
The countries covered in the medical robotic system market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical robotic system market because of the higher number of patients adopting minimally invasive surgery, increase in healthcare spending and rise in demand for medical robots from healthcare sector. Asia Pacific is expected to witness highest CAGR in the forecast period of 2021-2028 because of the penetration of noninvasive surgeries, growing awareness regarding modern technologies and improving healthcare infrastructure in the region.
The country section of the medical robotic system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Medical robotic system market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical robotic system market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical robotic system market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Medical Robotic System Market Share Analysis
Medical robotic system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical robotic system market.
The major players covered in the medical robotic system market report are iRobot Corporation, Medrobotics Corporation, Titan Medical Inc., Hansen Technologies, Renishaw plc, Syndicate Room Ltd, Intuitive Surgical, Medtronic, DENSO Robotics Incorporated, Accuray Incorporated, Stryker, Varian Medical Systems, Inc., Stereotaxis, Inc., Ekso Bionics, CYBERDYNE INC., BIONIK, Smith+Nephew, Zimmer Biomet, Omnicell, ARxIUM among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Medical Robotic System Market
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