Report Detail
Medical Robotics Global Market - Forecast to 2026
- RnM3925068 |
- 12 March, 2020 |
- Global |
- 350 Pages |
- IQ4I Research & Consultancy |
- Medical Devices & Consumables
A medical robot is a programmable, multifunctional manipulator specialized devices used for surgery, medical training, rehabilitation therapy, hospital and pharmacy industry. The use of surgical robotics has been expanding due to rapid development in technology. The robotic surgery is usually associated with minimally invasive surgery that allows the doctors to perform complex procedures with more precision, flexibility, and control than is possible with conventional techniques. Rehabilitation robots are automatically operated machines designed to improve movement and impaired physical functioning in patients. The hospital and pharmacy robots are used for sterilization, cleaning, clinical trials, pill dispensing and fill & pack purposes.
According to IQ4I analysis, the medical robotics global market is expected to grow at double digit CAGR from 2019 to 2026 to reach $13,899.4 million by 2026. Some of the factors driving the market are increasing demand for minimally invasive surgery, increasing prevalence of gynaecology, urology and orthopedic disorder, increasing aging population, technological innovations, the rising adaption of medical robots among the population and increasing clinical trials.
The medical robotics market by product is segmented as surgical robotics, rehabilitation robotics, and hospital & pharmacy robotics. Surgical robotics segment accounted for the largest revenue in 2019 and is expected to grow at a low teen CAGR from 2019 to 2026. Rehabilitation robotics segment is expected to grow at a high single digit from 2019 to 2026. Hospital & pharmacy robotics segment is expected to grow at a mid-single digit CAGR from 2019 to 2026.
Surgical robotics global market by product type, it is segmented into systems, instruments & accessories and services. Among surgical robotics, instruments & accessories segment accounted for the largest revenue in 2019 and it is expected to grow at a mid-teen CAGR from 2019 to 2026. Systems segment is expected to grow at a double digit CAGR from 2019 to 2026. Services segment is expected to grow at a mid-teen CAGR from 2019 to 2026.
Surgical robotics global market by application is segmented as orthopedic, gynaecology, urology, neurosurgery, general and gastroenterology (laparoscopy), cancer and others (cardiovascular, cardiothoracic, retina, and hair transplant). Among applications, the general and gastroenterology segment accounted for the largest revenue in 2019 and it is expected to grow at a low-teen CAGR from 2019 to 2026. Neurosurgery segment is expected to grow exponentially from 2019 to 2026.
Rehabilitation robotics global market by product type is segmented into Assistive (Cognitive) Robots, Exoskeleton Robots and prosthetic robots. Among rehabilitation robotics, Assistive (Cognitive) Robots holds the largest revenue in 2019 and is expected to grow at a high single digit CAGR from 2019 to 2026. Exoskeleton Robots segment expected to grow at a high single digit CAGR from 2019 to 2026. Prosthetics Robots segment is expected to grow at a med-single digit CAGR from 2019 to 2026.
Hospital and pharmacy robotics global market by product type, it is segmented into pill dispensing robots, fill & pack robots and other robots (cleaning sterilization and clinical trial robots). Among hospital and pharmacy robotics, fill and pack robots accounted for the largest revenue in 2019 and it is expected to grow at a mid-single digit CAGR from 2019 to 2026. Pill dispensing robots segment is expected to grow at a low single digit CAGR from 2019 to 2026. Other robots segment is expected to grow at a mid-single digit CAGR from 2019 to 2026.
Medical robotics market by region is segmented as North America (U.S. and Rest of North America), Europe (Italy, France, Germany and Rest of Europe), Asia-Pacific (Japan, South Korea, China, and Others) and Rest of the world (Turkey, Brazil, and others). North America accounted for the largest revenue in 2019 and is expected to grow at a low teen CAGR from 2019 to 2026 mainly due to increased prevalence of chronic illness and lifestyle disorders, growing aging population, increase in healthcare expenditure, availability of surgical expertise, increase in research activities, steady number of product approvals and new product launches among the key market players, increased demand for assistive robots and adoption of new technologies.
The Asia-Pacific region is expected to grow with a mid-teen CAGR from 2019 to 2026 due to high levels of healthcare expenditure, improving healthcare infrastructure and increasing government healthcare budgets, funds, growing acceptance of technological advancements, increasing aging population, increasing awareness about medical robotics and rise in healthcare awareness in the emerging countries, such as India and China.
The medical robotics global market is a highly consolidated market hence all the existing players in this market are involved in developing new and advanced therapeutics to maintain their market shares. Some of the major players in medical robotics market are Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Zimmer Biomet (U.S.), Johnson & Johnson (U.S.), Medtronic PLC (Ireland), Omnicell, Inc. (U.S.), Siemens Healthineers AG (Germany), Smith & Nephew PLC (U.K.) and Globus Medical (U.S.).
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o U.S.
o Rest of North America
• Europe
o Italy
o France
o Germany
o Rest of Europe
• Asia-Pacific
o Japan
o South Korea
o China
o Rest of APAC
• Rest of the World (RoW)
o Turkey
o Brazil
o Others
1 EXECUTIVE SUMMARY 22
2 INTRODUCTION 29
- 2.1 KEY TAKEAWAYS 29
- 2.2 SCOPE OF THE REPORT 30
- 2.3 REPORT DESCRIPTION 30
- 2.4 MARKETS COVERED 33
- 2.5 STAKEHOLDERS 34
- 2.6 RESEARCH METHODOLOGY 35
- 2.6.1 MARKET SIZE ESTIMATION 36
- 2.6.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
- 2.6.3 SECONDARY SOURCES 40
- 2.6.4 PRIMARY SOURCES 41
- 2.6.5 KEY DATA POINTS FROM SECONDARY SOURCES 41
- 2.6.6 KEY DATA POINTS FROM PRIMARY SOURCES 42
- 2.6.7 ASSUMPTIONS 43
3 MARKET ANALYSIS 44
- 3.1 INTRODUCTION 44
- 3.2 MARKET SEGMENTATION 46
- 3.3 FACTORS INFLUENCING MARKET 48
- 3.3.1 DRIVERS AND OPPORTUNITIES 49
- 3.3.1.1 High precision and accuracy as compared to conventional procedures 49
- 3.3.1.2 Increasing demand for minimally invasive robotic surgery 49
- 3.3.1.3 Increasing prevalence of gynaecology, urology and orthopedic disorders 50
- 3.3.1.4 Technological innovations in the medical robotics market 51
- 3.3.1.5 Expansion in emerging markets 52
- 3.3.1.6 Increasing aging population 52
- 3.3.2 RESTRAINTS AND THREATS 53
- 3.3.2.1 Side effects and risks associated with the use 53
- 3.3.2.2 Lack of trained professionals 54
- 3.3.2.3 High cost for the installation of medical robotics system 54
- 3.3.2.4 Surgical robotics product recall due to fda mandates 55
- 3.3.2.5 Availability of alternative treatments 55
- 3.3.2.6 Stringent regulatory guidelines 56
- 3.3.1 DRIVERS AND OPPORTUNITIES 49
- 3.4 REGULATORY AFFAIRS 57
- 3.4.1 INTERNATIONAL ORGANIZATION FOR STANDARDIZATION 57
- 3.4.1.1 ISO 9001: 2015 quality management system 58
- 3.4.1.2 ISO 13485 Medical devices 58
- 3.4.1.3 ISO 10993 Biological evaluation of medical devices 58
- 3.4.1.4 ISO 14971 Risk management of medical devices 59
- 3.4.1.5 ISO 13482:2014 Safety requirements for personal care robots 59
- 3.4.1.6 IEC 60601-1 Medical electrical equipment standard 59
- 3.4.1.7 IEC 60601-1-2 Electromagnetic compatibility (EMC) for medical devices 60
- 3.4.1.8 IEC 60601-1-11 Home care safety 60
- 3.4.2 U.S. 60
- 3.4.3 CANADA 61
- 3.4.4 EUROPE 62
- 3.4.5 JAPAN 62
- 3.4.6 CHINA 63
- 3.4.7 INDIA 64
- 3.4.1 INTERNATIONAL ORGANIZATION FOR STANDARDIZATION 57
- 3.5 CLINICAL TRIALS DATA 65
- 3.6 PATENT TRENDS 70
- 3.7 TECHNOLOGICAL ADVANCEMENTS 71
- 3.7.1 NANO-ROBOTS 71
- 3.7.2 RENAISSANCE GUIDANCE SYSTEM 72
- 3.7.3 SMART TISSUE AUTONOMOUS ROBOT (STAR) 72
- 3.7.4 VIRTUAL INCISION CORP’S MINIATURE ROBOT 72
- 3.7.5 VIROB PLATFORM 72
- 3.7.6 TIPCAT 73
- 3.8 PORTER’S FIVE FORCE ANALYSIS 74
- 3.8.1 THREAT OF NEW ENTRANTS 75
- 3.8.2 THREAT OF SUBSTITUTES 75
- 3.8.3 BARGAINING POWER OF SUPPLIERS 76
- 3.8.4 BARGAINING POWER OF BUYERS 76
- 3.8.5 COMPETITIVE RIVALRY 76
- 3.9 SUPPLY CHAIN ANALYSIS 77
- 3.10 REIMBURSEMENT SCENARIO 80
- 3.10.1 REIMBURSEMENT TABLE 81
- 3.11 REGULATORY APPROVED SURGICAL ROBOTICS 86
- 3.11.1 SURGICAL ROBOTICS 86
- 3.12 FUNDING SCENARIO 88
- 3.13 MARKET SHARE ANALYSIS BY MAJOR PLAYERS 92
- 3.13.1 MEDICAL ROBOTICS GLOBAL MARKET SHARE ANALYSIS 92
- 3.13.2 SURGICAL ROBOTICS GLOBAL MARKET SHARE ANALYSIS 94
- 3.13.3 REHABILITATION ROBOTICS GLOBAL MARKET SHARE ANALYSIS 96
- 3.13.4 HOSPITAL AND PHARMACY ROBOTICS GLOBAL MARKET SHARE ANALYSIS 98
- 3.14 MEDICAL ROBOTICS NUMBER OF UNITS BY REGION 100
- 3.14.1 SURGICAL ROBOTICS NUMBER OF UNITS BY REGION 100
- 3.14.2 REHABILITATION ROBOTICS NUMBER OF UNITS BY REGION 101
- 3.15 SURGICAL ROBOTICS INSTALLED BASE 102
- 3.16 MARKET PENETRATION 106
- 3.17 MEDICAL ROBOTICS COMPANY COMPARISON TABLE BY REVENUE, PRODUCT TYPE, NAME AND APPLICATION 108
4 MEDICAL ROBOTICS GLOBAL MARKET, BY PRODUCT 113
- 4.1 INTRODUCTION 113
- 4.2 SURGICAL ROBOTICS 116
- 4.2.1 SURGICAL ROBOTICS GLOBAL MARKET BY PRODUCT TYPE 119
- 4.2.1.1 Surgical robotic systems 122
- 4.2.1.2 Surgical robotic instruments & accessories 125
- 4.2.1.3 Surgical robotic services 127
- 4.2.2 SURGICAL ROBOTICS GLOBAL MARKET BY APPLICATION 129
- 4.2.2.1 Orthopedics 132
- 4.2.2.2 Gynaecology 135
- 4.2.2.3 Urology 138
- 4.2.2.4 Neurosurgery 141
- 4.2.2.5 General, Gastroenterology (Laparoscopy) 144
- 4.2.2.6 Cancer 147
- 4.2.2.7 Other surgical robotics applications 149
- 4.2.1 SURGICAL ROBOTICS GLOBAL MARKET BY PRODUCT TYPE 119
- 4.3 REHABILITATION ROBOTICS 151
- 4.3.1 ASSISTIVE ROBOTS 156
- 4.3.2 EXOSKELETON ROBOTS 159
- 4.3.3 PROSTHETICS 162
- 4.4 HOSPITAL AND PHARMACY ROBOTICS 165
- 4.4.1 PILL DISPENSING ROBOTS 170
- 4.4.2 FILL AND PACK ROBOTS 173
- 4.4.3 OTHER HOSPITAL AND PHARMACY ROBOTS 176
5 REGIONAL ANALYSIS 179
- 5.1 INTRODUCTION 179
- 5.2 NORTH AMERICA 185
- 5.2.1 U.S. 196
- 5.2.2 REST OF NORTH AMERICA 200
- 5.3 EUROPE 203
- 5.3.1 ITALY 214
- 5.3.2 FRANCE 217
- 5.3.3 GERMANY 220
- 5.3.4 REST OF EUROPE 223
- 5.4 APAC 226
- 5.4.1 JAPAN 237
- 5.4.2 SOUTH KOREA 240
- 5.4.3 CHINA 243
- 5.4.4 REST OF APAC 246
- 5.5 ROW 249
- 5.5.1 TURKEY 259
- 5.5.2 BRAZIL 261
- 5.5.3 OTHER REST OF THE WORLD 263
6 COMPETITIVE LANDSCAPE 266
- 6.1 INTRODUCTION 266
- 6.2 PRODUCT APPROVAL 267
- 6.3 ACQUISITION AND PARTNERSHIP 270
- 6.4 NEW PRODUCT LAUNCH 273
- 6.5 OTHERS 275
7 MAJOR COMPANIES 278
- 7.1 ACCURAY INCORPORATED 278
- 7.1.1 OVERVIEW 278
- 7.1.2 FINANCIALS 279
- 7.1.3 PRODUCT PORTFOLIO 282
- 7.1.4 KEY DEVELOPMENTS 282
- 7.1.5 BUSINESS STRATEGY 283
- 7.1.6 SWOT ANALYSIS 284
- 7.2 GLOBUS MEDICAL, INC. 285
- 7.2.1 OVERVIEW 285
- 7.2.2 FINANCIALS 286
- 7.2.3 PRODUCT PORTFOLIO 289
- 7.2.4 KEY DEVELOPMENTS 289
- 7.2.5 BUSINESS STRATEGY 290
- 7.2.6 SWOT ANALYSIS 291
- 7.3 INTUITIVE SURGICAL, INC. 292
- 7.3.1 OVERVIEW 292
- 7.3.2 FINANCIALS 293
- 7.3.3 PRODUCT PORTFOLIO 296
- 7.3.4 KEY DEVELOPMENTS 296
- 7.3.5 BUSINESS STRATEGY 298
- 7.3.6 SWOT ANALYSIS 299
- 7.4 JOHNSON & JOHNSON 300
- 7.4.1 OVERVIEW 300
- 7.4.2 FINANCIALS 301
- 7.4.3 PRODUCT PORTFOLIO 304
- 7.4.4 KEY DEVELOPMENTS 304
- 7.4.5 BUSINESS STRATEGY 305
- 7.4.6 SWOT ANALYSIS 306
- 7.5 MEDTRONIC PLC 307
- 7.5.1 OVERVIEW 307
- 7.5.2 FINANCIALS 308
- 7.5.3 PRODUCT PORTFOLIO 312
- 7.5.4 KEY DEVELOPMENTS 312
- 7.5.5 BUSINESS STRATEGY 313
- 7.5.6 SWOT ANALYSIS 314
- 7.6 OMNICELL, INC. 315
- 7.6.1 OVERVIEW 315
- 7.6.2 FINANCIALS 316
- 7.6.3 PRODUCT PORTFOLIO 319
- 7.6.4 KEY DEVELOPMENTS 319
- 7.6.5 BUSINESS STRATEGY 320
- 7.6.6 SWOT ANALYSIS 321
- 7.7 SIEMENS HEALTHINEERS AG 322
- 7.7.1 OVERVIEW 322
- 7.7.2 FINANCIALS 323
- 7.7.3 PRODUCT PORTFOLIO 326
- 7.7.4 KEY DEVELOPMENTS 326
- 7.7.5 BUSINESS STRATEGY 327
- 7.7.6 SWOT ANALYSIS 327
- 7.8 SMITH & NEPHEW PLC 328
- 7.8.1 OVERVIEW 328
- 7.8.2 FINANCIALS 329
- 7.8.3 PRODUCT PORTFOLIO 332
- 7.8.4 KEY DEVELOPMENTS 332
- 7.8.5 BUSINESS STRATEGY 333
- 7.8.6 SWOT ANALYSIS 334
- 7.9 STRYKER CORPORATION 335
- 7.9.1 OVERVIEW 335
- 7.9.2 FINANCIALS 336
- 7.9.3 PRODUCT PORTFOLIO 340
- 7.9.4 KEY DEVELOPMENTS 340
- 7.9.5 BUSINESS STRATEGY 341
- 7.9.6 SWOT ANALYSIS 342
- 7.10 ZIMMER BIOMET HOLDINGS INC. 343
- 7.10.1 OVERVIEW 343
- 7.10.2 FINANCIALS 344
- 7.10.3 PRODUCT PORTFOLIO 347
- 7.10.4 KEY DEVELOPMENTS 347
- 7.10.5 BUSINESS STRATEGY 348
Summary:
Get latest Market Research Reports on Medical Robotics. Industry analysis & Market Report on Medical Robotics is a syndicated market report, published as Medical Robotics Global Market - Forecast to 2026. It is complete Research Study and Industry Analysis of Medical Robotics market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.
REPORT YOU MIGHT BE INTERESTED
Related Reports
Reason to Buy
Reports and Markets
Contact Us
+1-352-353-0818 (US)Newsletter
KEEP UP TO DATE ON ALL THE LATEST REPORTS
