Medical Robotic System Market– Insights

Medical robotic systems are used in various medical application such as surgery and differ depending on its usage. These include surgical robotic systems, spine robotic systems, laparoscopic robotic systems, and rehabilitation robotic system. Advancements in technology coupled with increasing surgeon or patient acceptance for laparoscopic procedures, robotic assistance, and advanced medical imaging are the factors that are expected to drive growth of the market for medical robotic systems.

Utilization of medical robotic systems improve outcome of surgery, reduces hospital stay, and causes less trauma to the patient. Increasing demand for minimal invasive therapy and surgery is also expected to favor growth of the medical robotic systems market. Furthermore, in neurology the targeted cells are surrounded by delicate tissue, wherein a surgeon is unable to control the precision of the surgery, which may cause damage to healthy tissues. Thus, robotic systems are utilized to make precise and accurate motions based on the medical images obtained. These robotic systems are also employed in radiosurgery, where the focused beams of ionizing radiation are directed at the patient, primarily to treat tumors.

Rehabilitation robotic systems are designed in a way that allows the autonomy for people with disabilities. Thus, demand for such systems is expected to increase, which is further expected to augment growth of the medical robotic systems market. Several other robotic systems are under research and development, when approved by the FDA are expected to boost growth of the market for medical robotic systems in the near future.

Few growth restraining factors of the market include high cost associated with such systems and stringent regulations for identified medical robotic systems. Moreover, any harm caused to patients during robotic surgeries, further results in product recall or termination. For instance, Hansen Medical Magellan Robotic System was terminated in September 2015, based on two incidents, when an unexpected event occurred during a retraction operation of catheter.

The global medical robotic system market size was estimated to be valued at US$ 9,099.84 million in 2019, and is expected to exhibit a CAGR of 14.3% over the forecast period (2019-2027).

Global Medical Robotic System Market Share (%) Analysis, By Region, 2019

Medical Robotic System  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Increasing Product Launches and Approvals from Regulatory Agency for Medical Robot System is expected to Drive Growth of the Global Medical Robotic System Market

Major players are focused on product development, product launches, approvals from regulatory bodies, and commercialization of innovative techniques for medical robotic system. Thus, increasing products approvals from regulatory bodies is expected to drive growth of the medical robotic system market over the forecast period. For instance, in 2017, Mazor Robotics Ltd., a leader in the field of surgical robotic systems received CE Mark approval for its Mazor X Surgical Assurance Platform. The CE Mark allows Mazor and its commercial partner Medtronic to market Mazor X in European Union.

Furthermore, in 2018, Hocoma, launched ArmeoSenso, a sensor-based solution for patients with mild to moderate impairments of the upper extremity.

Global Medical Robotic System Market- Regional Insights

On the basis of region, the global medical robotic system market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the medical robotic system market over the forecast period, owing to increasing acquisitions by key players for development of products. For instance, in 2017, Omnicell Inc., acquired InPharmics, a provider of advanced pharmacy informatics solutions to hospital pharmacies. The acquisition expanded the capabilities of Omnicell’s product offerings.  

Asia Pacific is expected to witness rapid growth in the medical robotic system market, owing to increasing prevalence of neurological disorder. For instance, according to Neurology India, the prevalence of neurological disorder disorders from different regions of the India ranged from 967-4,070 with a mean of 2,394 per 100,000 population in 2014.

Global Medical Robotic System Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Medical Robotic System  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Medical Robotic System Market- Competitive Landscape

Key players operating in the global medical robotic system market include Intuitive Surgical, Transenterix, Medrobotics, Verb Surgical, Hansen Medical, MEDTECH, Titan Medical, Microbot Medical, Aethon, and Aesynt

Medical robotic systems market is mainly influenced by surgical robots. Robotic systems are used for orthopedics, neurosurgery, laparoscopy, and catheter operations. Advancements in the technology and technique to treat patients by minimal invasive methods are expected to drive growth of the medical robotic systems market. Such systems help in reducing chronic pain and hospital stay, and increases accuracy of surgery, thus being a preferred option. Non-invasive radiosurgery robots provide non-invasive treatment for patients suffering from complex tumors. Such patients cannot undergo normal operation and are treated with radiation Cyberknife, a robotic radiosurgery system. Cyberknife systems deliver high doses of radiation with high accuracy to a broad range of tumors throughout the body.

Increasing use of hospital and pharmacy robots in developed economies are expected to boost growth of the medical robotic systems market over the forecast period.

Market Dynamics

Increasing geriatric population, who are more prone to higher risk injuries due to their weak skeletal system are expected to boost medical robotic systems market growth. For instance, according to the National Institute on Aging, 617 million people were recorded to be 65 years of age and above, accounting for 8.5% of the world's population in 2015, which is expected to increase triple, reaching to 1.6 billion, representing 17% of the global population by 2050.

However, high cost of installation and maintenance of medical robotic system is expected to hinder growth of the market during the forecast period. The cost of medical robotic products, such as robotic surgical systems, ranges from US $ 1 million to US $ 2.5 million per unit.

Key features of the study:

  • This report provides in-depth analysis of the medical robotic system market, market size (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the forecast period: 2019-2027, considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by leading players
  • It profiles key players in the global medical robotic systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and strategies
  • Key players covered as a part of this study include Intuitive Surgical, Transenterix, Medrobotics, Verb Surgical, Hansen Medical, MEDTECH, Titan Medical, Microbot Medical, Aethon, and Aesynt
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launches, government initiatives, technological upgradation, market expansion, and marketing tactics
  • The global medical robotic systems market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for medical robotic system market, research and consulting firms, new entrants, and financial analysts.

Detailed Segmentation:

  • Global Medical Robotic Systems Market, By Product Type:
    • Instrument & Accessories
      • Surgical Robotic Systems
        • Orthopedic Robotic Systems 
        • Neurosurgery Robotic Systems
        • General Laparoscopy Robotic Systems
        • Robotic Catheters/ Steerable Catheters
      • Rehabilitation Robotic Systems
      • Telepresence Robotic System
      • Other Robotic Systems
  • Global Medical Robotic System Market, By End User:
    • Hospital
    • Ambulatory Surgical Center
  • Global Medical Robotic System Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Product Type:
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Product Type :
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Product Type :
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Product Type :
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Product Type :
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Product Type :
        • Instrument & Accessories
        • Medical Robotic Systems
          • Surgical Robotic Systems
            • Orthopedic Robotic Systems 
            • Neurosurgery Robotic Systems
            • General Laparoscopy Robotic Systems
            • Robotic Catheters/ Steerable Catheters
          • Rehabilitation Robotic Systems
          • Telepresence Robotic System
          • Other Robotic Systems
      • By End User:
        • Hospital
        • Ambulatory Surgical Center
  • Company Profiles
    • Intuitive Surgical*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Transenterix
    • Medrobotics
    • Verb Surgical
    • Hansen Medical
    • MEDTECH
    • Titan Medical
    • Microbot Medical
    • Aethon
    • Aesynt

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New Product Approvals/Launch
    • Promotion and Marketing Initiatives
    • PEST Analysis
  4. Global Medical Robotic System Market, By Product Type, 2019 – 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Instruments and Accessories
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • Medical Robot System
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
        • Surgical Robot System
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
            1. Orthopedic Robotic System
            2. Neurosurgery robotic system
            3. General Laparoscopy Robotic System
            4. Robotic Catheter/ Steerable catheters
        • Rehabilitation Robots
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
        • Telepresence Robotic System
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
        • Others
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
  5. Global Medical Robotic System Market, By End User, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Hospital
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • Ambulatory Surgical Center
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
  6. Global Medical Robotic System Market, By Region, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2026
      • Regional Trends
    • North America
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country/Region, 2019 – 2027, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Product, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • GCC
        • Israel
        • Rest of Middle East
  7. Competitive Landscape
    • Company Profiles
      • Intuitive Surgical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Transenterix
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Medrobotics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Verb Surgical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Hansen Medical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • MEDTECH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Titan Medical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Microbot Medical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Aethon
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Aesynt
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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