Global Medical Robotic Systems Market Outlook, Prospect and Future 2020-2026
Summary - A new market study, titled “Medical Robotic Systems Market, By Type (Rehabilitation Robots, Orthopaedic Surgical Robots, Neurosurgical Robotic Systems, Non-invasive Radiosurgery Robots, Laparoscopy Robotic Systems, Steerable Robotic Catheters, Emergency Response Robotic Systems, and Hospital and Pharmacy Robots), By Application (Laparoscopy, Special Education, Neurology, and Orthopaedics),and By Geography (NA, EU, APAC, LATAM and MEA) – Analysis, Share, Trends, Size, & Forecast From 2020 – 2026” has been featured on WiseGuyReports.
REPORT HIGHLIGHT
Medical robotic systems market was valued
at USD 7.69 billion by 2019, growing with 12.8% CAGR during the forecast
period, 2020-2026
Medical robotics is the integrated system
that automates the operations tasks during the surgery using artificial
intelligence. The Robot Institute of America (RIA) defined medical robots as a
multifunctional and reprogrammable manipulator which is designed to move
medical materials, tools, parts, or specialized devices through programmed
motions for the performance of surgical tasks. Such systems allow operators to
act more accurately than the assisted human companion. These are the artificial
intelligence-based surgical assistance system. With the help of this system,
the surgeon has to make tiny incisions in the human body or sometimes no skin incisions
have to make at all. However, in the conventional method relatively large
incisions have to make on the patient’s body. A high-definition
three-dimensional camera or miniaturized instruments are inserted into the
patient’s body in the procedure by the surgeon through the nearby console.
Medical robotics holds great potential in
the healthcare industry by providing various assistance in surgical procedures
and bringing down the cost of healthcare. The industry is ultimately an
application-driven research field. Thus, the development of new product
applications would require significant innovation and fundamental advancements
in technologies.
Market Dynamics
The medical robotics industry is causing a
paradigm shift in healthcare therapy. Technology advancements are considered to
be one of the primary driving factors for the growth of the global medical
robotics industry. For instance, recently in October 2018, Medrobotics declared
the first sale of the product for gastroenterology applications called Flex
Robotic System in Europe. This system enables physicians to access the body’s
anatomical locations that were difficult to reach minimally invasively. Such
introductions would, in turn, expand the scope of medical robots in various
applications, driving the industry growth significantly. Furthermore, the
issuance of Independent Practice Organizations (IPOs) by medical robotic
players is supporting the industry growth especially market demand among the
clinic’s category.
An increasing number of minimally invasive
surgeries are projected to further create a huge opportunity for the medical
robotics market, especially in developed regions, including North America and
Europe. The rising preference for minimally invasive procedures is majorly
attributed to its considerable cost savings, faster recovery periods, increased
safety, reduced pain, decreased scarring, fewer cuts, and smaller incisions. A
study performed by the U.S. based medical device company, EndoEvolution, stated
that more than 1.5 million minimally invasive surgeries are performed in the
U.S. every year. Robotic surgeries are normally associated with minimally
invasive procedures that are performed through tiny incisions. Thus, the
demands for medical robots will increase as the number of minimally invasive
procedures rises.
Owing to the aforementioned facts, the
overall number of robotic medical procedures is increasing at a constant rate.
As per the U.S. FDA, in 2017, around 877,000 procedures were performed using
intuitive surgical robots across the globe. On the contrary, factors such as
technical complications while performing surgeries coupled with high cost will
pull back the industry growth. As per the study performed by the U.S. FDA, from
2000 till now, the medical robotic system is linked to 8.1K device
malfunctions, 1.4K injuries, and around 150 deaths.
Type Takeaway
Depending upon types, the global medical
robotic systems market is categorized into emergency response, hospital and
pharmacy, non-invasive radiosurgery, surgical, and rehabilitation robots. The
surgical category is further categorized into neurosurgical (Pathfinder,
Renaissance, and NeuroMate), orthopedic (iBlock, Robodoc, Stanmore Sculptor,
MAKO RIO, and Navio PFSsurgical system), laparoscopy (Da Vinci, FreeHand endoscope
holder, and Telelap ALF-X), and steerable robotic catheters. The rehabilitation
product category is further classified as orthotics, assistive robots,
prosthetics, therapeutic robots, and exoskeleton robotic systems. Hospital
robots are further divided into telemedicine, intravenous, pharmacy, and cart
transportation robots. Emergency robotic products are sub-classified into the
LS-1 robotic system, and auto pulse plus robotic system. Whereas, non-invasive
radiosurgery robots are sub-divided into TrueBeamSTx, CyberKnife, and Gamma
Knife Perfexion radiosurgery system.
Among the aforementioned segments, the
surgical product category accounted for the highest revenue share owing to the
growing adoption rate of this equipment in hospital facilities. Of the
different surgical robots, it is analyzed that the steerable catheter system is
projected to grow with the fastest CAGR of over 13% from 2019 to 2026. On the
other side, the therapeutic robot segment is anticipated to expand at a rapid
pace during the study period. The development of therapeutic robots has
revolutionized the practice of physical medicine. Growth of this category is
majorly attributed to the rapid technological developments in terms of cloud
technology, adaptive programming, and voice recognition to strengthen the
utility and efficiency of the overall product performance.
Application Takeaway
In terms of applications, the industry is
broadly segmented as special education, laparoscopy, orthopedics robotic
systems, and neurology. As robotic process approaches for commercial use, the
global industry is diversifying with novel surgical modalities, new
technologies, and smaller product sizes. Of the different applications, the
laparoscopy segment accounted for the highest revenue share owing to the
availability of high precision robots for laparoscopic surgeries.
On the other hand, with the improvement in
precision and accuracy, robot-assisted surgeries in orthopedic procedures are
anticipated to propel market growth in the coming years. Advancement in
technologies pertaining to the development of Image-Guided Orthopedic Systems
(IGOS) such as Orthopilots (CT-free navigation system) is considered to be one
of the high-impact rendering driving factors for the segment growth.
Regional Takeaway
In terms of geography, the worldwide
medical robotic system market is divided into North America, Latin America,
Europe, Middle East & Africa, and the Asia Pacific. Among the above
regions, the North America medical robotic system market accounted for the
dominant value share in 2019. Organizations such as the Association of
Manufacturing Technology (AMT), Association of Laboratory Automation (ALA),
Automation Imaging Association (AF), and IEEE Robotics and Automation Society
are actively involved in R&D activities to develop novel and advanced
robotic systems for medical applications. This factor would, in turn,
facilitate the regional growth to a higher level.
Europe’s medical robotic system market
followed suit. Growth is primarily attributed to the rapid adoption of surgical
robots in hospital facilities. The Asia Pacific is anticipated to expand at the
rapid pace over the forecast period, owing to rising patient awareness,
improving healthcare infrastructure, and the presence of emerging
opportunities. Furthermore, advancements such as the introduction of new
generation Robotic Surgical Technology (ROSA) in India that deals with an array
of surgical interventions especially to treat Parkinson and Epilepsy is likely
to propel the regional growth to great extent.
Key Vendor Takeaway
Few of the prominent market players responsible
for the growth of the medical robotic systems market are iRobot Corporation,
Titan Medical Inc., Medrobotics Corporation, Hansen, RenishawPlc, Health
Robotics SLR, Intuitive Surgical, OR Productivity plc, Mazor Robotics, Accuray,
Mako Surgical Corp., Varian Medical Systems, and Stereotaxis Inc.
The market players are focusing on
collaborating with regional universities and hospitals for research and
development purposes. In May 2019, Accuray Incorporated signed an agreement
with Hong Kong Sanatorium & Hospital (HKSH) for the acquisition of
correction technology and two Synchrony motion tracking. This collaboration was
aimed to expand the use of motion and correction technologies with the
hospital’s Radixact Systems.
The market size and forecast for each
segment and sub-segments has been considered as below:
Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market
by its major segments, which include as follows:
MEDICAL ROBOTIC SYSTEMS MARKET KEY PLAYERS
iRobot Corporation
Medrobotics Corporation
Titan Medical Inc.
Hansen
Renishaw plc
Health Robotics SLR
OR Productivity plc
Intuitive Surgical
Mazor Robotics
Accuray
Mako Surgical Corp.
Varian Medical Systems
Stereotaxis Inc.
Others
MEDICAL ROBOTIC SYSTEMS MARKET BY TYPE
Surgical Robots
Neurosurgical Robotic Systems
NeuroMate
Pathfinder
Renaissance
Orthopedic Surgical Robots
Robodoc
Navio PFS
iBlock
MAKO RIO
Stanmore Sculptor
Laparoscopy Robotic Systems
Telelap ALF-X surgical system
Free-Hand endoscope holder system
Da Vinci robotic surgery system
Steerable Robotic Catheters
Emergency response robotic systems
Auto Pulse Plus robotic system
LS-1 robotic system
Noninvasive Radiosurgery Robots
CyberKnife Robotic
TrueBeam STx
Gamma Knife Perfexion
Rehabilitation Robots
Therapeutic Robots
Assistive Robots
Prosthetics
Orthotics
Exoskeleton Robotic Systems
Hospital and Pharmacy Robots
Intravenous Robots
Pharmacy Robots
Telemedicine Robots
Cart transportation robots
MEDICAL ROBOTIC SYSTEMS MARKET, BY
APPLICATION
Laparoscopy
Neurology
Orthopedics
Special Education
Others
MEDICAL ROBOTIC SYSTEMS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5641741-medical-robotic-systems-market-by-type-rehabilitation-robots
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