Market Overview

Medical Robots: Global Market to Grow at a CAGR of 21% during 2018-2023 -- Laparoscopy Robotic Systems Segment to Dominate the Market

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Dublin, Aug. 08, 2018 (GLOBE NEWSWIRE) -- The "Medical Robots Market by Product, Application, and Region - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

The medical robots market is projected to grow at a CAGR of 21%.

The medical robots market is projected to reach USD 16.74 billion by 2023 from an estimated USD 6.46 billion in 2018. The major influencing factors driving the growth of this market are advantages offered by robot-assisted training in rehabilitation therapy, increase in funding for medical robot research, technological advancements in medical robots, and the issuance of IPOs by medical robot companies.

Safety concerns over robotic surgery devices are expected to limit the growth of the market to a certain extent. According to recent studies, a number of technical difficulties and complications were experienced by performing procedures using robotic systems. According to the FDA, surgical robots have been linked to over 144 deaths, over 1,391 injuries, and 8,061 device malfunctions, from 2000 to 2013 which is likely to restrain market growth in the coming years.

The laparoscopy robotic systems segment to dominate the surgical robotic systems market during the forecast period.

On the basis of product, the medical robots market is segmented into instruments & accessories and robotic systems. The robotic systems segment has been further segmented 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 accounted for the largest share of the global surgical robotic systems market. This segment is also expected to register the highest CAGR from 2018 to 2023. The large share and high growth of this segment can be attributed to the advantages offered by robotic laparoscopy systems such as 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 expected to be the largest application segment.

On the basis of application, the medical robots market has been segmented into laparoscopy, neurosurgery, orthopedic surgery, pharmacy applications, and other applications (medical robotic applications in gynecology, urology, cardiology, nanomedicine, and rehabilitation). The laparoscopy segment accounted for the largest share of the global medical robots market in 2017. The large share of this segment can be attributed to the growing volume of laparoscopic surgeries performed worldwide.

In 2018, North America to dominate the medical robots market and Asia Pacific is projected to grow at the highest CAGR during the forecast period.

The medical robots market is divided into four major regions- North America, Europe, Asia Pacific, and the Rest of the World. In 2017, North America accounted for the largest share of the medical robots market. The major factors contributing to the large share of this segment include the increasing adoption of surgical robots by hospitals in the region, favorable funding scenario for research on medical robots, and the availability of technologically advanced medical robots.

Asia Pacific is expected to register the highest CAGR during the forecast period. The major factors driving the growth of this regional segment include growing geriatric population, increasing adoption of medical robots, and robot-assisted training initiatives for surgeons.

Competitive Landscape - Dominated by 3 Key Players

The major market players in the medical robots market include Intuitive Surgical (US), Stryker Corporation (US), and Mazor Robotics (Israel). Other players in the medical robots market include Hocoma (Switzerland), Hansen Medical (US), Accuray (US), Omnicell (US), Arxium (Canada), and Ekso Bionics Holdings (US).

Key Topics Covered

1 Introduction
1.1 Objectives of Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Insights From Primary Sources
2.1.2.2 Key Data From Primary Sources
2.2 Market Size Estimation
2.3 Market Data Validation and Triangulation
2.4 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Medical Robots Market Overview
4.2 Medical Robots Market, By Product (2018 vs 2023)
4.3 Robotic Systems Market, By Type (2018 vs 2023)
4.4 Medical Robots Market, By Application (2018 vs 2023)
4.5 Geographic Snapshot of the Medical Robots Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advantages Offered By Robot-Assisted Training in Rehabilitation Therapy
5.2.1.2 Technological Advancements
5.2.1.3 Increase in Funding for Medical Robots Research
5.2.1.4 Issuance of IPOS By Medical Robot Companies
5.2.2 Restraints
5.2.2.1 Safety Concerns Over Robotic Surgery Devices
5.2.3 Opportunities
5.2.3.1 Rapid Growth in the Geriatric Population
5.2.3.2 Rising Patient Preference for Minimally Invasive Surgeries
5.2.4 Challenges
5.2.4.1 High Cost of Robotic Systems

6 Product Pipeline Assessment
6.1 Introduction
6.2 Clinical Trials for Medical Robots

7 Medical Robots Market, By Product
7.1 Introduction
7.2 Instruments & Accessories
7.3 Robotic Systems
7.3.1 Surgical Robotic Systems
7.3.1.1 Laparoscopy Robotic Systems
7.3.1.2 Orthopedic Robotic Systems
7.3.1.3 Neurosurgical Robotic Systems
7.3.2 Rehabilitation Robotic Systems
7.3.2.1 Therapeutic Robotic Systems
7.3.2.2 Assistive Robotic Systems
7.3.2.3 Exoskeleton Robotic Systems
7.3.2.4 Other Rehabilitation Robotic Systems
7.3.3 Hospital & Pharmacy Robotic Systems
7.3.3.1 Pharmacy Robotic Systems
7.3.3.2 IV Robotic Systems
7.3.4 Noninvasive Radiosurgery Robotic Systems
7.3.5 Other Robotic Systems

8 Medical Robots Market, By Application
8.1 Introduction
8.2 Laparoscopy
8.3 Orthopedic Surgery
8.4 Pharmacy Applications
8.5 Neurosurgery
8.6 Other Applications

9 Medical Robots Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.3 Europe
9.3.1 EU5
9.3.2 RoE
9.4 Asia Pacific
9.5 Rest of the World

10 Competitive Landscape
10.1 Overview
10.2 Medical Robots Market: Ranking of Players, 2017
10.3 Competitive Scenario
10.3.1 Product Launches and Approvals
10.3.2 Joint Ventures, Agreements, and Partnerships
10.3.3 Mergers and Acquisitions
10.3.4 Product Enhancements
10.3.5 Expansions

11 Company Profiles
11.1 Intuitive Surgical
11.2 Stryker Corporation
11.3 Hocoma
11.4 Mazor Robotics
11.5 Hansen Medical (A Wholly Owned Subsidiary of Auris Surgical Robotics)
11.6 Accuray
11.7 Omnicell
11.8 Arxium
11.9 EKSO Bionics
11.10 Kirby Lester

For more information about this report visit https://www.researchandmarkets.com/research/cjcmx9/medical_robots?w=12

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Related Topics: Medical Devices, Robotics, Surgical Devices 

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