Medical Robotic Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Medical Robotic Systems market size is expected to be worth around US$ 27.89 billion by 2030, according to a new report by Vision Research Reports.

The global Medical Robotic Systems market size was valued at US$ 10,470.7 Million in 2020 and is anticipated to grow at a CAGR of xx% during forecast period 2021 to 2030.

Growth Factors

Key drivers of this market include the increasing demand for robotic surgeries, constant improvement in healthcare infrastructure in emerging economies, improving reimbursement policies and increasing awareness levels amongst healthcare establishments, and practitioners.

According to data published by the U.S. FDA in 2012, approximately 450,000 robotic assisted surgeries were performed. The increase in prevalence of cancer, neurological disorders, spinal disorders, and prostate disorders are expected to further propel the demand for minimally invasive surgeries and consequently boost market growth. 

Report Highlights

Medical robotic system is segmented into following products: Surgical robot, non-invasive radiosurgery systems, emergency response robotic systems, prosthetics, assistive & rehabilitation systems, and non-medical hospital robotics system. Surgical robots dominated the market in 2014 with 65% share owing to growing adoption rate of robotic systems in hospital and increase in demand for minimally invasive surgeries.

Further, the technological development that reduces the drawbacks of laparoscopic surgeries which includes Da Vinci Surgery with higher precision and delivering suitable outcomes is anticipated to drive the market growth over the period. The growing rate of surgical procedures is expected to fuel the demand for medical robotics from 2014 to 2022.

Growing acceptance of assistive & rehabilitation systems for Physiotherapy in treatment of stroke and neurological disorders related movement disability is expected to drive the growth. With increasing importance in therapy treatments, the number of patients being treated with medical robots is also increasing. The Nonmedical hospital product segment is expected to emerge as the fastest growing segment with a CAGR of 16.8% over the forecast. The centralization of establishments and growing healthcare IT market are the factors promoting growth in demand for medical robotic systems.

By application, the robotic system is segmented into four applications, which includes neurology, orthopedics, laparoscopy, and others. The neurology segment is anticipated to account for the fastest growth with a CAGR of 16.7% over the period owing to the global increase in neurological disorders such as Alzheimer and Depression. Technological developments of hardware and software of the NeuroMate system and in the field of robotic neurotechnologies with improved scope of ergonomics and neurology will account for high penetration of medical robotic system. Additionally, the advent of innovative technologies such as invention of RoboDoc by the ULCA Neurosurgery (a motile robot for routine monitoring of patients operated by the doctor himself without him moving around) will facilitate growth.

Laparoscopy accounted for the highest share in the application segment with a CAGR of 12.3% in 2014. Development of new systems with enhanced maneuverability & magnification, easier device handling, and upgraded device micromotions in the patient’s body will result in the precision of surgical procedures. Also, these robotic systems have proven to be technically viable and are specially designed to meet the needs of surgeons. The market growth can be attributed to growing geriatric population, increasing demand for laparoscopic diagnostic, therapeutic procedures, and increasing number of unhealthy lifestyle habits such as fast food & alcohol. These factors are expected to drive the growth of targeted surgeries which in turn is expected to fuel the market growth between 2015 to 2022.

Orthopedics robotic systems are anticipated to be the second fastest segment by application over the forecast. This segment is expected to grow at a CAGR of 14.2% between 2015 and 2022. Significant developments in terms of software used for Total Hip Arthoplasty (THA), Total Knee Arthoplasty (TKA), and Anterior Cruciate Ligament Reconstruction (ACL) trigger the demand for minimally-invasive robot-assisted surgeries. Growing number of musculoskeletal conditions such as rheumatoid arthritis, low back pain, osteoarthritis, and osteoporosis is expected to gear the demand for robot-assisted surgeries during the period.

North America dominated the medical robotic systems with 49.7% of the total share in 2014, whereas emerging economies such as Asia Pacific is anticipated to exhibit the fastest growth with CAGR of 15.6% over the forecast. Increasing geriatric population with weak bone density levels and injuries encountered during accidents are expected to positively reinforce market growth in the coming years.

Asia Pacific is projected to grow at a rapid rate over the period due to the presence of emerging opportunities, improving healthcare infrastructure, and rising patient awareness. Growing penetration of minimally invasive surgeries is one of the significant growth drivers for this market. Introduction of new technologies, such as capsule robot system, developed software, and imaging systems, to minimize the complications in surgical interventions is expected to boost the market growth over the period. The major product segments, contributing to the growth of Asia Pacific includes products such as surgical robots and non-invasive radiosurgery systems.

Europe’s medical robotics system market is anticipated to follow Asia Pacific market with a CAGR of 11.7% from 2015 to 2022. Rapidly advancing surgical procedures aided by technology have been increasingly replaced by robot-assisted surgeries and effective procedures that account for fewer health risks, speed-up patient recovery, and minimal scarring. The presence of such factors is expected to boost the market growth.

Key Players

MAKO Surgical Corp, Reninshaw Plc., Varian, Accuray, Intuitive Surgical Inc, and Health robotics S.R.L.

Market Segmentation

  • Product Outlook 

    • Surgical Robots

      • Orthopedic Surgical Robots

        • iBlock surgical system

        • Robodoc surgical system

        • Navio PFS surgical system

        • MAKO RIO surgical system

        • Stanmore Sculptor surgical system

      • Neurosurgical Robotic Systems

        • Pathfinder surgical system

        • NeuroMate surgical system

        • Renaissance surgical system

      • Laparoscopy Robotic Systems

        • FreeHand endoscope holder system

        • Da Vinci robotic surgery system

        • Telelap ALF-X surgical system

      • Steerable Robotic Catheters

    • Rehabilitation Robots

      • Assistive Robots

      • Prosthetics

      • Orthotics

      • Therapeutic Robots

      • Exoskeleton Robotic Systems

    • Noninvasive Radiosurgery Robots

      • TrueBeam STx radiosurgery system

      • CyberKnife robotic radiosurgery system

      • Gamma Knife Perfexion radiosurgery system

    • Hospital and Pharmacy Robots

      • Telemedicine Robots

      • I.V. Robots          

      • Pharmacy Robots

      • Cart transportation robots

    • Emergency response robotic systems

      • LS-1 robotic system

      • Auto Pulse Plus robotic system

  • Application Outlook 

    • Neurology

    • Orthopedics robotic systems

    • Laparoscopy

    • Special Education

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

The Medical Robotic Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical Robotic Systems market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical Robotic Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Robotic Systems market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Robotic Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical Robotic Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical Robotic Systems by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Robotic Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Robotic Systems market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Robotic Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical Robotic Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Medical Robotic Systems 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 Systems market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Robotic Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Robotic Systems market. These factors have benefited the growth of the global market for Medical Robotic Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Robotic Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical Robotic Systems are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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