Global 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, Disinfectant Robots), Modality (Compact, Portable), Components (Actuators, Sensors, Robot Controller, Patient Cart, Surgeon Console, Vision Cart, Dispensing System, Additional Products), Application (Neurology Applications, Cardiology Applications, Orthopedic Applications, Laparoscopic Applications, Physical Rehabilitation, Pharmacy Applications), End User (Hospitals, Specialty Clinics, Research Institutes, Ambulatory Surgical Centers, Laboratories, Rehabilitation Centers, Others), Distribution Channel (Direct Tender, Retail Sales, Third Party Distributors, Others) – Industry Trends and Forecast to 2030.
Medical Robots Market Analysis and Size
Hospital-acquired infections (HAIs) are another pervasive issue in healthcare that could be alleviated using robots to reduce medical and surgical errors. In 2011, there were 722,000 HAIs in acute care hospitals in the United States, according to the CDC. Hospitals sometimes struggle to maintain 100 percent sterility in patient rooms due to time restrictions or the mere invisibility of germs. With the developing healthcare infrastructure, medical robots will come in a lot of handy for their applications.
Data Bridge Market Research analyses that the medical robots system market, which was USD 13,544.64 million in 2022, is expected to reach USD 45,021.15 million by 2030, at a CAGR of 16.20% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Robots Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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, Disinfectant Robots), Modality (Compact, Portable), Components (Actuators, Sensors, Robot Controller, Patient Cart, Surgeon Console, Vision Cart, Dispensing System, Additional Products), Application (Neurology Applications, Cardiology Applications, Orthopedic Applications, Laparoscopic Applications, Physical Rehabilitation, Pharmacy Applications), End User (Hospitals, Specialty Clinics, Research Institutes, Ambulatory Surgical Centers, Laboratories, Rehabilitation Centers, Others), Distribution Channel (Direct Tender, Retail Sales, Third Party Distributors, Others)
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Countries Covered
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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
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Market Players Covered
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iRobot Corporation (U.S.), Titan Medical Inc. (Canada), Hansen Technologies (Australia), Renishaw plc (U.K.), Intuitive Surgical (U.S.), Medtronic (Ireland), DENSO Products and Services Americas, Inc. (U.S.), Accuray Incorporated (U.S.), Stryker (U.S.), Varian Medical Systems, Inc. (U.K.), Stereotaxis, Inc. (U.S.), Ekso Bionics (U.S.), CYBERDYNE INC. (Japan), BIONIK (U.S.), Smith+Nephew (U.K.), Zimmer Biomet (U.S.), Omnicell. Inc. (U.S.), ARxIUM (Canada)
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Market Opportunities
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Market Definition
Medical robots offer increased accuracy and precision during a surgical process. Doctors may now undertake complex surgical procedures with greater flexibility, precision, and control because of medical robots or robot-assisted surgery systems. Typically, medical robots are used for minimally invasive procedures carried out through tiny incisions. Additionally, some conventional open surgical procedures can be performed using medical robots. The majority of robotic surgical systems frequently integrate mechanical and camera arms.
Medical Robots Market Dynamics
Drivers
- Growing number of minimally invasive surgeries will drive the market growth
Globally, there is a spike in demand for robotic minimally invasive surgeries, owing to benefits such as fewer cuts, smaller incisions, less discomfort, less scarring, more safety, and shorter recovery times. Furthermore, the procedures provide highly advanced visualization capabilities to surgeons by utilizing HD cameras to depict microscopic structures. As a result, greater control and accuracy are provided. In recent years, there has been a rise in the number of rehabilitation robotics research projects and a quick increase in therapeutic rehabilitation robots.
- Growing geriatric population base and orthopaedic surgical cases
According to recent Statistics, hospital admissions for knee replacement have climbed 2.5 times in India over the last five years, and over 800,000 knee replacements are performed annually in the United States. Furthermore, the American Academy of Orthopaedic Surgeons and the Agency for Healthcare Research and Quality report that over 450,000 total hip replacements are performed annually in the United States. As a result, the demand for surgical robots will likely rise in tandem with the rise in sophisticated surgical operations.
Opportunities
- Integration of advanced technologies in medical robots will act as an opportunity
The market is anticipated to increase due to ongoing technological developments such as motion sensors, robotic catheter control systems (CCS), 3D imaging, data recorders, data analytics, HD surgical microscopic cameras, and remote navigation. Additionally, more products receiving FDA approval is anticipated to fuel market expansion during the forecast period. ReWalk Robotics, for instance, declared that the FDA had approved the sale of their ReStore soft exo-suit system to rehabilitation facilities across the United States in 2019.
- Developing economies to offer a larger patient pool
Developing countries are expected to provide significant prospects for industry participants. Over the last decade, emerging regions have seen a consistent increase in the percentage of surgical procedures, owing to an increasing target patient population and increased medical tourism. Furthermore, rising healthcare spending, combined with adaptive and business-friendly regulatory strategies, is encouraging key players to concentrate their efforts in emerging markets in the future.
Restraints/Challenges
- The high cost of robotic systems will hinder the market growth
The high cost of robotic systems is projected to be one of the primary hurdles limiting market growth. Robot-assisted operations are more expensive than traditional surgeries. The most common robotic system, the da Vinci system, costs between USD 1.0 million and USD 3.0 million per unit, whereas the CyberKnife radiosurgery robotic system costs between USD 4.2 million and USD 5.2 million per unit. Additionally, USD 100,000 is required for maintenance. As a result, the rising cost of procedures due to the robotic system's adoption is likely to hinder the market growth.
This medical robots 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 the medical robots market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In June 2020, Accuray introduced the CyberKnife S7 System, its next-generation CyberKnife platform, with advanced precision and real-time AI-driven motion tracking and synchronization treatment delivery for all stereotactic body radiation therapy (SBRT) treatments and stereotactic radiosurgery (SRS).
Global Medical Robots Market Scope
The medical robots market is segmented on the basis of type, product, modality, components, application, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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
- Neurology Applications
- Cardiology Applications
- Orthopedic Applications
- Laparoscopic Applications
- Physical Rehabilitation
- Pharmacy Applications
End User
- Hospitals
- Specialty Clinics
- Research Institutes
- Ambulatory Surgical Centers
- Laboratories
- Rehabilitation Centers
- Others
Distribution Channel
- Direct Tender
- Retail Sales
- Third Party Distributors
- Others
Medical Robots Market Regional Analysis/Insights
The medical robots market is analysed and market size insights and trends are provided by country, type, product, modality, components, application, end user, and distribution channel as referenced above.
The countries covered in the medical robots market report are 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 leads the medical robots market due to a strong foundation of healthcare facilities, increased investment from major players in developing innovative equipment, a higher rate of patient adoption of minimally invasive surgery, and an increase in research activities in this region.
This market's expansion is related to an increase in chronic illness cases, an increase in orthopedic operations, increased funding for advanced medical systems, and an increase in the number of qualified surgical professionals. Furthermore, the increasing adoption of automated surgical systems in emerging Asia-Pacific nations, patients' preference for robot-assisted surgeries, increased emphasis on expanding modern healthcare facilities, and rising medical tourism all contribute to Asia-Pacific market growth.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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
The medical robots 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 robots market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical robots market. The data is available for historic period 2011-2021.
Competitive Landscape and Medical Robots Market Share Analysis
The medical robots 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 robots market.
Some of the major players operating in the medical robots market are:
- iRobot Corporation (U.S.)
- Titan Medical Inc. (Canada)
- Hansen Technologies (Australia)
- Renishaw plc (U.K.)
- Intuitive Surgical (U.S.)
- Medtronic (Ireland)
- DENSO Products and Services Americas, Inc. (U.S.)
- Accuray Incorporated (U.S.)
- Stryker (U.S.)
- Varian Medical Systems, Inc. (U.K.)
- Stereotaxis, Inc. (U.S.)
- Ekso Bionics (U.S.)
- CYBERDYNE INC. (Japan)
- BIONIK (U.S.)
- Smith+Nephew (U.K.)
- Zimmer Biomet (U.S.)
- Omnicell. Inc. (U.S.)
- ARxIUM (Canada)
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