Medical Robotics Global Market - Forecast to 2026

Samples

Executive Summary

Medical robots are the computer-integrated systems used for surgical procedures, rehabilitation, hospital and pharmacy services. The robotic surgery is usually associated with minimally invasive surgery that allows the doctors to perform the complex and delicate procedures with more precision, flexibility, and control than the conventional techniques. Rehabilitation robots are automatically operated machine, designed to improve movement in person with impaired physical functioning. Hospital & pharmacy robots are the robots which are used in healthcare for pill dispensing, fill & pack, cleaning, sterilizing and clinical trial purpose.  

According to the publisher, the medical robotics global market is expected to grow at a low teen CAGR from 2019 to 2026 to reach $13,899.4 million by 2026. Some of the factors such as increasing demand for minimally invasive surgery, high precision, and accuracy as compared to conventional procedures, increasing prevalence of gynaecology, urology and orthopedic disorders, technological innovations and increasing aging population are driving the market.  

Based on the product, the market is segmented as surgical robotics, rehabilitation robotics, and hospital & pharmacy robotics. The surgical robotics segment accounted for the largest revenue in 2019 and is expected grow at a mid-teen CAGR from 2019 to 2026 due to increasing demand for minimally invasive surgery, increasing prevalence of gynaecology, urology, and orthopedic disorders, increasing aging population and technological innovations. Among the surgical robotics, the instruments and accessories segment accounted for the largest share in 2019 and is expected to grow at a mid-teen CAGR from 2019 to 2026. Among rehabilitation robotics, the Assistive (Cognitive) Robots segment accounted for the largest share in 2019 and is expected to grow at a high single digit CAGR from 2019 to 2026. Among hospital & pharmacy robotics, fill and pack robots segment accounted for the largest share in 2019 and is expected to grow at a mid-single digit CAGR from 2019 to 2026.

Among surgical robotics by application, general & gastroenterology (laparoscopy) segment holds the largest share in 2019 and is expected to grow at a low teen CAGR of from 2019 to 2026 due to increasing incidence of abdominal wall hernias, colorectal cancer, and gallstones.

The medical robotics global market by geography is segmented into North America, Europe, Asia-Pacific and the Rest of the world (RoW). North America region dominated the medical  robotics global market in 2019 and it is expected to grow at a low teen CAGR from 2019 to  2026 mainly due to technological advancements, increasing demand for assistive robots, availability of skilled personnel, increasing incidence of prostate cancer, product launches, strong product pipeline, growing aging population, increasing investments, availability of advanced healthcare technology, and rising focus on healthcare are the factors boosting the market. The Asia-Pacific is the fastest-growing region with a mid-teen CAGR from 2019 to 2026 due to high levels of healthcare expenditure, increasing neurological disorders, increasing healthcare facilities, increasing aging population, the easy availability of advanced healthcare technology, skilled personnel and low-cost for the surgery and increase in the patient population are the factors driving the market.

Considering the attractiveness of the medical robotics market, several venture capitalists are aggressively investing. According to the publisher, funding received by medical robotics companies globally during the period 2018-2019 is estimated to be ~$xx million. The majority of funding was aimed at surgical robotics. Similarly, medical robotics clinical trials data indicate that in U.S., 29.4% clinical trials are in phase 3 stage, 58.8% clinical trials are in phase-2 and 11.8% clinical trials are in phase-1. The majority of clinical trials are focused on stomach neoplasms, stroke, renal cancer, and metastatic prostate carcinoma. There is a steady increase in the number of clinical trials performed year-on-year which may result in the launch of several new devices in the coming years, which is expected to drive the medical robotics market further.

The population dynamics, changing economic conditions and increasing awareness of the consumer is forcing medical robotics manufactures to continuously invest in research and innovate new technologies that reduce complications, improve quality, increase efficiency and reduce cost while improving outcomes. Patents filing is way of measuring research activity being carried out by industry participants. Having a strong IP portfolio will help the dominant players like Intuitive Surgical, Globus Medical, Johnson & Johnson, Smith & Nephew and Medtronic especially in mature markets such as the U.S. to differentiate their offerings with innovative products and survive the competition from new entrants.

The average selling price (ASP) of medical robotics varies from one region to another. The average selling price of surgical robotics is $xx million-$xx million and the average selling price of rehabilitation robots is $xx-$xx. According to the publisher, North America commanded the highest number of installed units of xx surgical robotics and xx rehabilitation robots followed by Europe with xx surgical robotics and xx rehabilitation robots, APAC with xx surgical robotics and xx rehabilitation robots, and RoW with xx surgical robotics and xx rehabilitation robot installed units in 2019 respectively.

According to the publisher, North America occupied the highest number of surgical robotics  installed base with xx till 2019 followed by Europe with xx installed base. Surgical robotics installed base in APAC and RoW region till 2019 is xx and xx respectively. In North America, the U.S. occupied the highest share of surgical robotics installed base of xx% followed by Canada and the rest of North America with a share of xx% and xx% respectively in 2019. In Europe, France occupied the highest share of surgical robotics installed base of xx% followed by Italy, Germany and the Rest of Europe with a share of xx%, xx% and xx% respectively in 2019. In APAC, Japan occupied the highest share of surgical robotics installed base of xx% followed by China, South Korea and Rest of APAC with a share of xx%, xx% and xx% respectively in 2019. In RoW, Turkey occupied the highest share of surgical robotics installed base of xx% followed by Brazil and other rest of the world countries with a share of xx% and xx% in 2019.

Surgical robotics market has a huge opportunity for existing players and new entrants, the surgical robot manufacturers can develop and launch new products to gain the sparely occupied market. According to the publisher, in the U.S. it is estimated 4,329,080 gynaecology surgery are done each year. In 2019, the total robotic surgeries done to treat gynaecology disease are estimated to be xx surgeries, indicating a penetration rate of xx% with an opportunity of xx% in the market. Similarly, the overall general & gastroenterology surgeries done in the U.S. is about 10,734,538. In 2019, the robotic surgeries done for general & gastroenterology diseases are estimated to be xx surgeries, indicating a penetration rate of xx% with an opportunity of xx% in the market. In the U.S. it is estimated 2,002,641 urology surgeries are done each year. In 2019, the robotic surgery done for urology disease is estimated to be xx surgeries, indicating a penetration rate of xx% with an opportunity of xx% in the market. In 2019, the total numbers of surgeries done for orthopedics is estimated to be 7,561,731, in that approximately xx robotic surgeries are done for orthopedics, indicating penetration rate of xx% with an opportunity of xx% in the market. In U.S., it is estimated 600,000 knee surgeries are performed each year. In 2019, the robotic surgery done for knee arthroplasty is estimated to be xx surgeries, indicating penetration rate of xx% with an opportunity of xx% in the market. In 2019, the total numbers of surgeries done for the hip is estimated to be 300,000, in that approximately xx robotic surgeries are done for hip, indicating penetration rate of xx% with an opportunity of xx% in the market. The overall neurosurgery done in the U.S. is about 4,516,093. In 2019, the robotic neurosurgeries performed are estimated to be xx surgeries, indicating a penetration rate of xx% with an opportunity of xx% in the market.

Some of the companies are coming up with technological advancements to maintain their leadership status in the medical robotics market. For instance, Preceyes B.V. (Netherlands)  the world leader in robot-assisted eye surgery has developed the PRECEYES surgical  system R1.1, received CE mark approval in June 2019. The system is used for eye surgery, provides surgeons with a precision better than 20 μm to position and hold instruments. The PRECEYES surgical system is compatible with a wide range of 23G, 25G, 27G instruments and the system can be used in patients under local or general anesthesia in a standard surgical setting. Medtronic Plc received FDA approval for cranial robotic platform the Stealth Autoguide system in December 2019. The Stealth Autoguide Platform is a guidance system, designed for spatial positioning and orientation of instruments used in neurosurgical procedures.

Players in this market have adopted the product approval strategy to take a better global position. For instance, in March 2019, Zimmer Biomet Holdings (U.S.) received USFDA 510(k) clearance for the ROSA ONE spine system for robotically assisted minimally invasive and complex spine surgery. The system also features a suite of navigation technologies and 3D intraoperative planning software intended to improve instrument placement, implants, and predictability. In February 2019, Robocath, Inc. (France) received CE Mark approval for the R-One system. It is the first interventional cardiology-focused robotic system to win CE Mark approval. R-One system is designed to assist in stenting procedures.

The Medical robotics companies mainly focus on expansion, new product launches, and acquisitions to be competent and gain access to new technologies both in existing and new market areas. For instance, Siemens Healthineers (Germany) entered into surgical robotics market by acquiring Corindus Vascular Robotics, Inc. for $1.1 billion in October 2019. With this acquisition company entered into advanced therapies business, combining cardiovascular and neuro-interventional therapy systems with Corindus technology for image-based minimally invasive therapies. In January 2019, Medtronic PLC (Ireland) launched Mazor X Stealth robotic-assisted spinal surgical platform in the U.S. The system offers a fully-integrated procedural solution for surgical planning, execution, workflow, and confirmation. The Mazor X Stealth system was first used at Norton Healthcare in Louisville, Kentucky's and Reston Hospital Center in Reston, Virginia, U.S.

The medical robotics market is highly consolidated with the top four players occupying xx% of the market share and the remaining xx% of the market is occupied by other players. The top players in the market are Intuitive Surgical, Inc. (U.S.), Medtronic, PLC (Ireland), Stryker Corporation (U.S.), Globus Medical, Inc. (U.S.), Accuray Incorporated (U.S.), Siemens Healthineers AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), Johnson & Johnson (U.S.), Omnicell, Inc. (U.S.), and Smith & Nephew, PLC (U.K.).

Companies Mentioned

• ABB Ltd.
• Accuray Incorporated
• AKTORmed GmbH
• AOT AG
• ASIMOV Robotics Pvt. Ltd  
• Avatera Medical GmbH
• Axilum Robotics
• Barrett Technology
• Bionik Laboratories Corp.
• CMR Surgical Ltd
• CUREXO, INC
• Cyberdyne, Inc.
• Denso Corporation
• Diligent Robotics
• Ekso Bionics Holdings, Inc.
• Endocontroll S.A.
• EndoMaster Pte Ltd.
• FANUC Corporation
• GaitTronics Inc
• Globus Medical
• Gloreha IDROGENET s.r.l
• HDT Global
• Hocoma AG
• Innovation Associates, Inc.
• Intuitive Surgical, Inc.
• Johnson & Johnson
• Kawasaki Heavy Industries Ltd
• Kuka AG
• Marchesini Group S.P.A
• Medrobotics
• Medtronic Plc
• meerecompany Incorporated
• Memic Innovative Surgery Ltd.
• Microbot Medical Inc.
• Microsure B.V.
• Monteris Medical, Inc.
• Motorika USA Inc.
• Myomo, Inc.
• Omnicell, Inc.
• OMNILife science, Inc.
• Open Bionics, Ltd.
• Perfint Healthcare Pvt Ltd
• Preceyes BV
• PROCEPT BioRobotics Corporation
• Reactive Robotics GmbH
• Renishaw Plc
• Restoration Robotics, Inc.
• ReWalk Robotics, Ltd.
• REX Bionics
• Robocath, Inc.  
• Shibuya Corporation
• Siemens Healthineers AG
• Smith & Nephew Plc
• ST Engineering Aethon, Inc.
• Stereotaxis, Inc.
• Stryker Corporation
• SynTouch, LLC
• Think Surgical, Inc.
• TINAVI Medical Technologies Co., Ltd
• Titan Medical, Inc.
• TransEnterix, Inc.
• Universal Robot A/S
• US Bionics Inc. (SuitX)
• Vanrx Pharmasystems Inc.
• Veebot System, Inc.
• Virtual Incision Corporation
• Virtual Incision Corporation
• XACT Robotics Yaskawa Electric Corporation (Yaskawa America, Inc.)
• Zhongrui Funing Robotics(Shenyang) Co., Ltd.
• Zimmer Biomet Holdings, Inc.