Global Medical Robotics Market is estimated to grow at a CAGR of 19% to reach revenue of $12813.03 million by 2023.
In the Report “Medical Robotics Market: By Surgical Robots (Neurosurgical, Orthopedic, Laparoscopy); By Rehabilitation (Exoskeleton, Prosthetic, Assistive); Telemedicine, Hospital Robots & Others; By Geography - (2018-2023)” published by IndustryARC, the market is driven by increasing adoption rate of advanced technologies, significance of minimal invasive procedures and increased demand for telemedicine.
America dominates with major share in the Medical Robotics Market
The market for medical robotics is comprised of maximum contribution by the Americas region, with a share of 62%. The American region gained revenue of $2628.2 million in 2017. The market in the American region is expected to grow at a CAGR of 17%, and to reach revenue of $6847.47 million by 2023. The growth is attributed on the basis of the surgical market, which is majorly leading in the overall share growth. European region and Asia-Pacific region markets are the evolving markets for medical growing robotic procedures. The European market is estimated to be the fastest growing region with 24% CAGR, and to gain revenue of $4407.41 million by 2023. Asia-Pacific is seen to hold strong growth potential, as renowned companies are expanding their business. APAC is estimated to grow at a CAGR of 20.5% to reach revenue of $1864.60 million by 2023 with growing competition level.
Medical Robotics Market Type Analysis done in the full Report:
With the growing aging population, robotic technology is achieving perfection with its integration in healthcare delivering services. The technology is driven by continuous innovation in robotic devices. Medical Robotics Market classification is distributed into six types. Among all, Surgical Robotics is occupying the major share in the medical robotics market. The Surgical Robotic Systems market is estimated to grow at a CAGR of 19.7%, and likely to reach $12164.31 billion by 2023. Surgical robots current adoption is high for performing a wide range of remote surgery, and its scope is expanding at a rapid pace. Intuitive Surgical Inc. is the leading player in the surgical market due to acceptance of products in widespread areas. Rehabilitation robotics market gained revenue of $132 million in 2017, which is the second leading region. Present statistics says the market will grow at a CAGR of 13.30% to reach revenue of $267 million by 2023, followed by Non-invasive radiosurgery robots system market. The growth of Rehabilitation robot market is caused by the positive adoption of exoskeleton robots, assistive robots, and prosthetic robots, which help the individuals to recover from stroke or injury. The acceptance of robotics in medical management has helped to drive the growth and demand for improved healthcare services.
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Excerpts on Medical Robotics MarketGrowth Factors
Healthcare service providers are working to bring advanced treatment methods, as the act will provide hospital and pharmacy automation with enhancements that will promote technology adoption to improve the quality of robotic technology in healthcare services and facilities.
The success rate of the operations is also affected positively. The implementation of medical robotics has increased the precision level of the treatment. So, the overall market has a strong scope for the growth of the medical robotics market through a growing number of installation.
New guideline for Medical robotic device or system with respect to the region will ensure that the new product entry in the marketplace satisfies the quality, safety and reliability criteria to overcome the fear of people with respect to treatment.
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Key players of the Medical Robotics Market
The Medical Robotics Market is primarily dominated by Intuitive Surgical Inc., Stryker Corporation, Accuracy Inc., Major Robotics and Hocoma AG. Intuitive Surgical Inc. is segmented into urology, gynecology, general surgery, and other procedures. The company has one major product named as DA Vinci Surgical System. Stryker Corporation is the leading in manufacturing orthopedic surgical robotic systems devices and it has acquired Mako surgical Inc., It launched surgical robots with the name RIO Robotic Arm. Accuracy Inc. came up with its Cyberknife System and TomoTherapy Systems which functions as Radio Surgery Robots. Utilization of these numbers of patents is making the companies to continue with its new developments as the healthcare sector is a countless market.
Medical Robotics Market report is segmented as below
A.Medical Robotics - Market Classification, By Type
1.Surgical Robots
I.Neurosurgical Robots
II.Orthopedic Robots
III.Laparoscopy Robots
2.Rehabilitation Robots
I.Exoskeleton Robots
II.Prosthetic Robots
III.Assistive Robots
3.Non-Invasive Radio Surgery Robots
I.Robotic Catheters
II.Telemedicine Robots
III.Hospital Robots
B.Medical Robotics Market by Geography (covers 10+ countries)
C.Medical Robotics Entropy Market
Companies Citied / Interviewed in Medical Robotics Market
1.Mazor Robotics Ltd.
2.Titan Medical Inc.
3.Hansen Medical Inc.
4.Medtech S.A.
5.Kuka Roboter Gmbh
6.Irobot Corporation
7.Ekso Bionics
8.Rewalk Robotics Inc
9.Renishaw Plc
10.Varian Medical Systems, Inc.
11.Think Surgical Inc.
12.Stereotaxis, Inc.
13.Sofar S.P.A.
14.Motorika
15.Intouch Health Technologies, Inc.
16.Medrobotics Corporation
17.Kinova Robotics
18.Corindus Vascular Robotics
19.Myomo, Inc.
20.Or Producitivy Plc
21.HDT Global
22.Aethon Inc.
23.Xenex Disinfection Services
24.Company 24+
Related Report:
A.Spinal Surgical Robots Market
B.3D Sensors Market
What can you expect from the report?
The Medical Robotics Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country-level Analysis (13+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Medical Robotics Market segment?
Response: Yes, we do have separate reports as mentioned below:
1.America Medical Robotics Market Report (2018-2023)
2.Europe Medical Robotics Market Analysis (2018-2023)
3.Asia-Pacific Medical Robotics Market Size (2018-2023)
4.Type Medical Robotics Market Share (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in the application or end-user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interests.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
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