Medical Robots Market by Product (Surgical Robotic Systems, Rehabilitation Robotic System, Hospital & Pharmacy Robotic System, Noninvasive Radiosurgery Robotic System), Application (Laparoscopy, Orthopedic Surgery, Pharmacy Applications, Neurosurgery) - Global Analysis and Forecast 2019-2030
Report ID : 63 | Published Date : Apr 2019 | Pages : 150 | Region : Global | Report Code : MD-35
Medical Robots Market Overview and Introduction
The global medical robots market is estimated to be over US$ 6.0 Bn in 2018. It is anticipated to grow at a double digit CAGR from 2019 to 2030.
Medical robots are the robots that are used in hospitals and medical institutions to perform highly complex surgeries. Robots can be utilized as surgical assistants to surgeons that perform minimally invasive procedures. Rehabilitation robots play an important role to recover patients with disabilities. Moreover, robots are able to disinfect and clean the room from any microbes and viruses. Additionally, the biggest benefit of using medical robots is precision and speed.
The global medical robots markets is driven by innovation and technological advancements which have played a vital role in contributing to the growth of this market. Due to innovation and technological advancements, patients are benefited in terms of shortened recovery time and reduced pain after surgery. Moreover, the companies are focusing on fund raising to strengthen the medical robots market for long run. However, safety concerns over robotic surgeries are likely to restrain the market.
Medical Robots Market by Product
On the basis of product, the medical robots market is segmented into surgical robotic systems, rehabilitation robotic system, hospital and pharmacy robotic systems, noninvasive robotic surgery systems and other robotic systems. The surgical robotic systems are further divided into laparoscopic robotic systems, orthopedic robotic systems and, neurosurgical robotic systems. The surgical robotic system segment is estimated to account for the largest share in medical robots market owing to its high adoption by multispecialty hospitals. The rehabilitation robotic systems are also classified into therapeutic robotic systems, assistive robotic systems, exoskeleton robotic systems and other rehabilitation robotic systems. The hospital and pharmacy robotic systems are further classified into pharmacy robotic systems and IV robotic systems.
Medical Robots Market by Application
In terms of application, the medical robots market is segmented into laparoscopy, orthopedic surgery, pharmacy applications, neurosurgery and other applications. During the forecast period, the neurosurgery segment is expected to reflect the highest CAGR.
Medical Robots Market by Region
The global medical robots market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of medical robots, followed by Europe and Asia Pacific. North America will continue to dominate the global medical robots market in the forecast period owing to factors such as increasing adoption of minimally invasive procedures, availability of wide range of treatment options, and technological advancements among others. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Korea, Japan and India. Factors such as advanced surgical procedures, minimum health risks, fastest recovery and increasing accuracy of medical robots are likely to attract patients from different parts of the world.
Medical Robots Market Prominent Players
The prominent players in the global medical robots market are Intuitive Surgical, Inc., iRobot Corporation, Mazor Robotics, Auris Health, Inc., Accuray, Ekso Bionics Holdings Inc., Arxium, Kirby Lester, Stereotaxis, Inc., Titan Medical among others.