Major Players - Medical Robotic System Industry

The use of medical robotic technology enhances surgical results, shortens hospital stays, and lessens patient trauma. The market for medical robotic systems is also anticipated to increase favorably due to rising demand for minimally invasive treatments and procedures. In addition, fragile tissue surrounds the targeted cells in neurology, making it difficult for a surgeon to perform the procedure precisely without endangering nearby healthy tissues. So, using the acquired medical images as a guide, robotic systems are used to make precise and exact actions. In radiosurgery, focused ionizing radiation beams are aimed at the patient in order to treat tumors, and these robotic devices are also used in this procedure. People with impairments can have autonomy with the help of rehabilitation robotic devices. As a result, it is anticipated that the market for medical robotic systems will rise as a result of rising demand for such systems. The market for medical robotic systems is anticipated to increase quickly once a number of other robotic systems now in development are FDA-approved.

According to Coherent Market Insights, According to estimates, the global market for Medical Robotic Systems was worth US$ 9,099.84 million in 2019. From 2019 to 2027, the market is projected to grow at a CAGR of 14.3%.

Leading Companies in the Medical Robotic System Industry:

1. Intuitive Surgical

The company was started in 1995 and is based in Sunnyvale, California, United States. The business creates, produces, and sells robotic products aimed at enhancing patients' therapeutic outcomes. The company Intuitive Surgical, Inc. designs, produces, and sells surgical systems. Rebotix v. Intuitive is anticipated to go to trial by August 2022 after Intuitive's motion for dismissal was granted.

2. Transenterix

The company was founded in 2006 and is based in Durham, North Carolina, United States. TransEnterix, Inc. creates goods for the surgical care market. The business creates, develops, tests, and produces medical equipment for catheter-based procedures and laparoscopic surgery. Performance-Guided Surgery is a new category of surgery that TransEnterix announced in February 2021 as well as a name change to Asensus Surgical.

3. Medrobotics

The firm was started in 2005 and is based in Raynham, Massachusetts, United States. In order to let surgeons access, visualize, and do two-handed surgery in difficult-to-reach anatomical locations with just one site of access, Medrobotics has created a platform of flexible medical robots.

4. Verb Surgical

The company was founded in 2015 and is based in California. The company Verb Surgical Inc. creates medical software. In order to improve patient care, the company provides a digital surgery platform with the power of robotics, cutting-edge instruments, increased visualization, networking, and data analytics.

5. Hansen Medical

The business was started in 2002 and is based in California, United States. Medical robotics are created and produced by Hansen Medical for the precise positioning and management of catheter-based technology. The business provides medical robotics services. Global customers are served by Hansen Medical.

6. Titan Medical

The business was started in 2008 and is based in Toronto, Canada. Titan Medical Inc. (Titan) is a firm in the development stage that develops and produces robotic surgical systems for use in minimally invasive surgery (MIS). The development of robotic-assisted technology for use in single access surgery is Titan Medical's primary objective. Titan Medical and Medtronic signed a final agreement in September 2022.

7. Microbot Medical,

The company was founded in 1988 and is located in Newark, California, United States. With a primary focus on the endovascular market, Microbot Medical specializes in revolutionary robotic technology. Microbot Medical will have expanded intellectual property protection in Japan as of June 2023.

Definition:

Medical robotic systems vary depending on how they are employed and are used in a variety of medical applications, including surgery. These include robotic surgical systems, robotic spine systems, robotic laparoscopic systems, and robotic rehabilitation systems.