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Medical Robots Market by Product, Application And Region - Global Forecasts to 2023

Medical Robots Market: Global Forecasts until 2023

  • July 2018
  • 123 pages
  • ID: 5099520
In this report:
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The medical robots market is estimated to rise at a compound annual growth rate of 21.00 percent.

The medical robots market is estimated to grow ~$16.7B by 2023 from an estimated ~$6.5B in 2018. The main influencing factors driving the increase of this market are advantages submited by robot-assisted training in rehabilitation therapy, rise in funding for medical robot research, technological improvements in medical robots, and the issuance of IPOs by medical robot firms. Nevertheless, safety concerns over robotic surgery devices are likely to restrain industry growth in the estimate period.

The laparoscopy robotic systems segment to lead the surgical robotic systems market during the outlook period.

On the basis of product, the medical robots market is split into instruments & accessories and robotic systems.The robotic systems segment has been further divided into surgical robotic systems, rehabilitation robotic systems, noninvasive radiosurgery robotic systems, and hospital and pharmacy robotic systems.

The surgical robotic systems segment is further bifurcated into laparoscopy robotic systems, orthopedic robotic systems, and neurosurgical robotic systems.In 2017, the laparoscopy robotic systems segment recorded for the most important share of the overall surgical robotic systems market.

This industry segment is also anticipated to register the maximal compound annual growth rate (CAGR) from 2018 to 2023.The significant share and high rise of this segment can be connected to the advantages suggested by robotic laparoscopy systems including greater stability than the human hand, reduced number of incisions, and better visual magnification.

Robotic surgeries also generally result in lesser pain, shorter hospital stays, and faster recovery of patients.

The laparoscopy segment is anticipated to be the biggest application segment.

On the basis of application type, the medical robots market has been broken down into laparoscopy, neurosurgery, orthopedic surgery, pharmacy applications, and other applications (medical robotic applications in gynecology, urology, cardiology, nanomedicine, and rehabilitation).The laparoscopy segment recorded for the most important share of the overall medical robots market in 2017.

The important share of this segment can be accredited to the increasing volume of laparoscopic surgeries performed worldwide.

In 2018, North America continent to lead the medical robots market and Asia-Pac (APAC) is expected to grow at the highest CAGR (Compound annual growth rate) during the estimate period.

The medical robots market is detached into four main regions- North America, EU, APAC, and the Rest of the globe.In 2017, North America (NA) recorded for the biggest share of the medical robots market.

The key factors providing to the big share of this segment contain the growing adoption of surgical robots by hospitals in the territory, favorable funding scenario for industry research on medical robots, and the availability of technologically advanced medical robots.

Asia-Pac is projected to register the highest compound annual growth rate (CAGR) during the outlook period. The main factors driving the increase of this regional segment include increasing geriatric population, rising adoption of medical robots, and robot-assisted training initiatives for surgeons.

Break of primary members taking part was as mentioned below:

• By Company category - Tier 1: 54.0 percent, Tier 2: 34.0 percent, and Tier 3: 12.0 percent

• By Description - C-suite: 31.0 percent, D-level: 19.0 percent, Others: 50.0 percent

• By Area - North America continent: 46.0 percent, Europe (EU): 25.0 percent, Asia Pacific (APAC): 18.0 percent, RoW: 11.0 percent

The main market players in the medical robots market contain Intuitive Surgical, Stryker (NYSE:SYK), and Mazor Robotics.

Segment Research

The industry report examines the sector and aims at estimating the market value and the future increase potential of this market established on different segments including product, application, and area. The study also comprises the competitive landscape of the top actors in this sector together with their company descriptions, product offerings, latest developments, and key industries strategies.

Reasons to Buy the Report

The analysis will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector, which, in turn, would benefit them collect a larger market share. Companies obtaining the market research could use any one or a combination of the below-mentioned strategies.

This industry report offers business insights on these pointers:

• Market Uptake: Exhaustive data on products and services provided by the top actors in the overall medical robots market

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis and growth activities, and launches of new product in the medical robots market

• Market Development: Highlighted information about the profitable emerging sectors by product, application, and area

• industry diversification: Complete information about recent products or products consolidations, increasing geographies, recent evolutions, and market investments in the overall medical robots market

• opposing assessment: Detailed assessment of market shares, increase strategies, and products of leading actors in the overall market

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