Global Medical Robotic Systems Market by Product (Steerable, Surgical, Rehabilitation, Neurological, Prosthetics, Laparoscopy, Assistive, Orthopedic, Orthotics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global medical robotics market was valued at USD 7,470.7million in 2014. It is projected to grow at a double-digit CAGR during the forecast period. This market is driven by rising demand for precise laparoscopic surgery, increasing need for geriatric surgeries, and rising trauma cases. The growth of medical robotics will be driven by rising healthcare spending and technological advances in surgical medical equipment.

The trend in medical robotics has changed over the past few years because of technological advancements in a few areas like HD surgical microscopic camera, 3D-Imaging and motion sensors, data recorders, data analytic, robotic cath control system (CCS) and remote navigation. Intuitive Surgical Inc. developed the most popular da Vinci Surgical System. It is a computer-enabled system that allows for laparoscopic surgery.

The rapid advancement of medical technology is evident in this continuous development. Geisinger Health System's insurance program ProvenCare provides guaranteed insurance coverage for patients after 90 days. This will reduce the risk of complications and surgical errors, as well as lower costs.

Future robotic technology will be able to perform new functions in existing procedures. This is expected to increase the demand for medical robots. There are increasing technology transfer partnerships with third-party suppliers in order to create new applications for robotic systems.

The FDA states that robotics use in the United States has increased from 25,000 per year to 450,000 per year between 2005 and 2012. National Cancer Institute (NCI) estimates that nearly 80% of surgical prostatectomy procedures in the United States were performed with medical robotics in 2014. This is compared to 1% in 2001. The demand will rise as a result of the increasing penetration of robotics systems that are more technologically advanced.

Product Insights

The medical robotic system can be divided into the following products: Surgical robotic, non-invasive radiosurgery, emergency response robot systems, prosthetics and assistive & rehabilitation system, and non-medical hospitals robotics system. The market was dominated by surgical robots in 2014, with 65% of the share. This is due to growing adoption of robotic systems in hospitals and increased demand for minimally invasive surgery.

The market will grow due to technological advancements that make laparoscopic surgery more efficient and deliver better outcomes. From 2014 to 2022, the market for medical robotics will grow due to increasing surgical procedures.

The acceptance of assistive and rehabilitation systems for Physiotherapy as a treatment option for stroke and other neurological disorders is expected to continue. The number of medical robots being used to treat patients is increasing due to their increasing importance in therapy. With a projected 16.8% CAGR, the Non-medical hospital product segment will be the fastest-growing segment. Demand for medical robot systems is boosted by the centralization of healthcare IT markets and the growing market for these products.

Application Insights

The robotic system can be divided by application into four categories, including neurology, orthotics, laparoscopy and other. Due to global increases in neurological disorders like Alzheimer's and Depression, the neurology segment will see the most rapid growth. It is expected to grow at a CAGR 16.7% during the forecast period. High penetration of medical robot systems will be possible due to technological developments in hardware and software for the NeuroMate system, as well as in the field robotic neurotechnologies that have a greater scope of ergonomics. Innovations such as RoboDoc, a robot that monitors patients and can be operated by the doctor without moving, will also help to facilitate growth.

Laparoscopy was the most popular application segment, with a CAGR 12.3% in 2014. The precision of surgical procedures will be improved by the development of new systems that have enhanced maneuverability and magnification, better device handling, and enhanced device micromotions in patients' bodies. These robotic systems are also technically feasible and specifically designed for surgeons. Market growth can be attributed mainly to the growing elderly population, increased demand for laparoscopic diagnostic and therapeutic procedures, as well as an increase in unhealthy lifestyles such fast food and alcohol. These factors will drive growth in targeted surgeries, which in turn will fuel market growth from 2015 to 2022.

The forecast predicts that orthopedics robotic systems will be the second-fastest segment in terms of application. This market is expected to grow at 14.2% CAGR between 2015 and 2022. There have been significant technological advances in the software that is used to perform Total Hip Arthoplasty, Total Knee Arthoplasty and Anterior Cruciate Ligament Repair (ACL). This has triggered the need for minimally-invasive robotic-assisted surgery. The demand for robot-assisted surgery is expected to rise due to the increasing number of musculoskeletal disorders such as osteoarthritisis, low back pain, rheumatoid and low back pain.

Regional Insights

North America held 49.7% of medical robotics systems' total market share in 2014. Emerging economies like Asia Pacific are expected to experience the fastest growth, with a CAGR of 15.6%. Market growth will be boosted by an increasing geriatric population and the increased incidence of injuries from accidents.

Asia Pacific is expected to grow rapidly due to new opportunities, improved healthcare infrastructure and increased patient awareness. This market is seeing significant growth due to the increasing use of minimally invasive surgery. Market growth is expected to be boosted by the introduction of new technologies such as the capsule robot system, software and imaging systems to reduce complications during surgical procedures. Products such as non-invasive radiosurgery and surgical robots are the major segments that contribute to Asia Pacific's growth.

Europe's market for medical robotics systems is expected to grow at 11.7% annually between 2015 and 2022, following Asia Pacific. Robot-assisted surgery has been replacing rapidly evolving surgical procedures with technology. These procedures are more effective, safer, faster, and less scarring. These factors are expected to increase market growth.

Market Share in Medical Robotic Systems

MAKO Surgical Corp., Reninshaw Plc. Varian, Accuray and Intuitive Surgical Inc are some of the major players in the medical robotics industry. Market players are using strategies to increase their market share and expand their profitability prospects by expanding their penetration in untapped markets. To maintain their competitive edge, major market players are constantly adding new products, which contributes to this market.

As compared to developing countries like Asia Pacific, developed economies like North America and Europe have a higher entry barrier. This region will experience faster growth due to its lower entry barrier and the lucrative markets in Asia Pacific.

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and an analysis of industry trends in each sub-segment from 2012 to 2022. Up Market Research has divided the global market report on medical robot systems by product, region, and application.

• Product Outlook (Revenue in USD million, 2012-2022)

  • Surgical Robots

    • Orthopedic Surgical Robots

      • iBlock surgical systems

      • Robodoc surgical system

      • Navio PFS surgical system

      • MAKO RIO surgical system

      • Stanmore Sculptor surgical procedure

    • Neurosurgical Robotic Systems

      • Pathfinder surgical system

      • NeuroMate surgical system

      • Renaissance surgical system

    • Laparoscopy Robotic Systems

      • FreeHand endoscope holder

      • Robotic surgery system Da Vinci

      • Telelap ALFX surgical system

    • Steerable Robotic Catheters

  • Rehabilitation Robots

    • Assistive robots

    • Prosthetics

    • Orthotics

    • Therapeutic Robots

    • Exoskeleton Robotic Systems

  • Radiosurgery Robots that are non-invasive

    • TrueBeam STx radiosurgery device

    • CyberKnife robotic radiosurgery device

    • Gamma Knife Perfexion radiosurgery system

  • Hospital and Pharmacy Robots

    • Telemedicine Robots

    • I.V. Robots

    • Pharmacy robots

    • Robotic cart transportation

  • Robotic emergency response systems

    • LS-1 robotic system

    • Auto Pulse Plus robotics system

• App Outlook (Revenue in USD million, 2012-2022)

  • Neurology

  • Robotics for orthopedics

  • Laparoscopy

  • Special Education

• Regional Outlook (Revenue USD Million 2012-2022)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa

Up Market Research published a new report titled “Medical Robotic Systems Market research report which is segmented by Product (Steerable, Surgical, Rehabilitation, Neurological, Prosthetics, Laparoscopy, Assistive, Orthopedic, Orthotics), By Players/Companies Robodoc surgical system, Stanmore Sculptor surgical system, Surgical RobotsOrthopedic Surgical RobotsiBlock surgical systemRobodoc surgical systemNavio PFS surgical systemMAKO RIO surgical systemStanmore Sculptor surgical system, iBlock surgical system, MAKO RIO surgical system, Navio PFS surgical system, Orthopedic Surgical RobotsiBlock surgical systemRobodoc surgical systemNavio PFS surgical systemMAKO RIO surgical systemStanmore Sculptor surgical system, Product Outlook (Revenue in USD Million 2012 - 2022)Surgical RobotsOrthopedic Surgical RobotsiBlock surgical systemRobodoc surgical systemNavio PFS surgical systemMAKO RIO surgical systemStanmore Sculptor surgical system”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Medical Robotic Systems Market Report Segments:

The market is segmented by Product (Steerable, Surgical, Rehabilitation, Neurological, Prosthetics, Laparoscopy, Assistive, Orthopedic, Orthotics).

Medical Robotic Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Medical Robotic Systems Market

Overview of the regional outlook of the Medical Robotic Systems Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Medical Robotic Systems Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Medical Robotic Systems Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Steerable

                2. Surgical

                3. Rehabilitation

                4. Neurological

                5. Prosthetics

                6. Laparoscopy

                7. Assistive

                8. Orthopedic

                9. Orthotics

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Medical Robotic Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Medical Robotic Systems Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.