Global Medical Robotics Market Size, Share & Trends Analysis Report by Product (Surgical Robotic Systems, Rehabilitative Robotic Systems, Noninvasive Radiosurgery Robots, Hospital & Pharmacy Robotic Systems, and Others) and Forecast 2020-2026
The global medical robotics market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the increasing geriatric population and rising adoption medical robots for minimally invasive surgical procedures. Robotic-assisted surgery, laparoscopy and other minimally invasive procedures enables patients to recover quickly with less trauma. However, in case of robotic-assisted surgery, the return to normal daily activities (except strenuous exercise and lifting heavy objects) occur in as little as two to three weeks. Therefore, these factors are rising the adoption of minimally invasive surgical procedures, primarily in developed and emerging economies, such as the US.
The medical robotics market is analyzed on the basis of revenue captured by all types of robotic systems. Based on products, the market is segmented into surgical robotic systems, rehabilitative robotic systems, noninvasive radiosurgery robots, hospital & pharmacy robotic systems, and others. Among these products, the surgical robotic system is contributing significantly in the medical robotics market growth. This growth is backed by the rising trend for minimally invasive surgeries and rising spending by hospitals towards the automation of the healthcare infrastructure.
Geographically, the global medical robotics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to contribute a significant share in the global market. The US with a highly matured and technologically advanced healthcare infrastructure, contributes considerably in the medical robotics market. The major factors contributing to the market growth in the region includes rising geriatric population, rising demand for robotic-assisted surgeries and increasing healthcare expenditure. Asia-Pacific is expected to project a considerable growth during the forecast period. Significant growth in medical tourism, rising healthcare expenditure and increasing prevalence of lifestyle-oriented diseases are certain factors encouraging the market growth in Asia Pacific.
The global medical robotics market is influenced by product development and advancements conducted by the market players. The key players of the medical robotics market include Intuitive Surgical, Inc., Medtronic PLC, Stryker Corp., Auris Health, Inc., CMR Surgical Ltd., and TransEnterix Surgical, Inc. These players are playing a significant role in the growth of the medical robotics market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others.
Research Methodology
The market study of the global medical robotics market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary sources include:
The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
1. Global Medical Robotics Market Research and Analysis by Product
The Report covers:
The global medical robotics market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the increasing geriatric population and rising adoption medical robots for minimally invasive surgical procedures. Robotic-assisted surgery, laparoscopy and other minimally invasive procedures enables patients to recover quickly with less trauma. However, in case of robotic-assisted surgery, the return to normal daily activities (except strenuous exercise and lifting heavy objects) occur in as little as two to three weeks. Therefore, these factors are rising the adoption of minimally invasive surgical procedures, primarily in developed and emerging economies, such as the US.
The medical robotics market is analyzed on the basis of revenue captured by all types of robotic systems. Based on products, the market is segmented into surgical robotic systems, rehabilitative robotic systems, noninvasive radiosurgery robots, hospital & pharmacy robotic systems, and others. Among these products, the surgical robotic system is contributing significantly in the medical robotics market growth. This growth is backed by the rising trend for minimally invasive surgeries and rising spending by hospitals towards the automation of the healthcare infrastructure.
Geographically, the global medical robotics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to contribute a significant share in the global market. The US with a highly matured and technologically advanced healthcare infrastructure, contributes considerably in the medical robotics market. The major factors contributing to the market growth in the region includes rising geriatric population, rising demand for robotic-assisted surgeries and increasing healthcare expenditure. Asia-Pacific is expected to project a considerable growth during the forecast period. Significant growth in medical tourism, rising healthcare expenditure and increasing prevalence of lifestyle-oriented diseases are certain factors encouraging the market growth in Asia Pacific.
The global medical robotics market is influenced by product development and advancements conducted by the market players. The key players of the medical robotics market include Intuitive Surgical, Inc., Medtronic PLC, Stryker Corp., Auris Health, Inc., CMR Surgical Ltd., and TransEnterix Surgical, Inc. These players are playing a significant role in the growth of the medical robotics market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others.
Research Methodology
The market study of the global medical robotics market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of the reports.
Secondary sources include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
1. Global Medical Robotics Market Research and Analysis by Product
The Report covers:
- Comprehensive research methodology of the global medical robotics market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global medical robotics market.
- Insights about market determinants which are stimulating the global market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Accuray Inc.
- Auris Health, Inc.
- AVRA Medical Robotics, Inc.
- CMR Surgical Ltd.
- Global Medical, Inc.
- Hocoma AG
- InTouch Technologies, Inc.
- Intuitive Surgical, Inc.
- Kirby Lester
- Medrobotics Corp.
- Medtronic PLC
- Microbot Medical Inc.
- Omnicell, Inc.
- Renishaw PLC
- Stereotaxis, Inc.
- Stryker Corp.
- Titan Medical Inc.
- TransEnterix Surgical, Inc.
- Verb Surgical Inc.
- Zimmer Biomet Holdings, Inc.
