Publication Month: May 2022 | Report Code: TIPHE100000816 | No. of Pages: 241 | Category: Medical Device | Status: Published
Increasing number of surgical procedures and rising number of product launches and approvals are expected to drive the medical robots market. However, the high cost of surgical procedures and installation hinders the market growth.
Medical robots are designed for specialized medical applications. These robots can perform a variety of medical tasks such as surgery, medical testing, and patient monitoring. They can perform surgery solely based on the surgeon's pre-surgical planning. Medical robots enable high precision in open and minimally invasive surgeries. They also significantly reduce the time required for surgery. Further, medical robots can be used to transport patients from one location in a hospital to another. Robots for remote caregiving, disinfectant robots to reduce hospital-acquired infections, and robotic exoskeletons for rehabilitation training that provide external support and muscle training are all examples of medical robot applications. Robotic technique in healthcare was first used in 1985, although it was only in 2000 that the da Vinci robot received US FDA approval for carrying out surgical procedures. The da Vinci robot is widely known for its applications in cardiac surgery, head and neck surgery, and urologic surgery.
|Market Size Value in||US$ 9,189.70 Million in 2022|
|Market Size Value by||US$ 25,443.36 Million by 2028|
|Growth rate||CAGR of 18.5% from 2022 to 2028|
|No. of Pages||241|
|No. of Tables||168|
|No. of Charts & Figures||92|
|Historical data available||Yes|
|Segments covered||Product, Application, and End User, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
North America is likely to dominate the medical robots market during the forecast period. The US held the largest share of the North American market in 2022 and is expected to continue this trend during the forecast period. According to a study published by the American Society for Metabolic and Bariatric Surgery in 2022, the US witnessed around 62.0% of growth in bariatric surgeries during the past decade. In addition, according to the study published by the Agency for Healthcare Research and Quality in 2017, around 0.7 million total knee replacement surgeries were performed in the US per year. Such a significant number of surgical procedures is estimated to offer a favorable environment for adopting advanced healthcare facilities that will drive the US medical robots market during the forecast period.
The medical robots market is segmented based on product, application, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The medical robots report offers insights and in-depth analysis of the market, emphasizing parameters such as market trends, technological advancements, market dynamics, and the competitive analysis of the globally leading market players.
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There is a rise in the number of surgeries performed worldwide. There has been an increase in the incidence of cardiovascular diseases in European countries in the last 25 years. In the region, the rise in diabetic cases and lifestyle changes are increasing the number of cardiovascular surgeries and general surgeries.
Cancer and diabetes are among the leading causes of mortality globally. As per a study by the American Cancer Society (ACS), in 2021, ~1.9 million new cancer cases were diagnosed in the US. In 2021, according to Dutch Cancer Registry, around 123,672 new cancer cases were registered in the Netherlands. Moreover, according to the International Diabetes Federation (IDF), in 2021, an estimated 537 million people across the world had diabetes. The number is expected to reach 783 million by 2045.
According to the study published by the American Society for Metabolic and Bariatric Surgery, in 2019, around 252,000 weight loss surgeries were performed in the US. The increasing number of surgical procedures creates a need for robotic surgery instruments. Therefore, the staggering prevalence of chronic conditions and the rising number of surgical procedures generate the demand for robotic surgery instruments.
Based on product, the global medical robots market is segmented into surgical robots, rehabilitation robots, non-invasive radio surgery robots, hospitals & pharmacy robots, and others. The surgical robots are subsegmented into neurological surgery robotic systems, cardiology surgery robotic systems, laparoscopic surgical robotic systems, and orthopedic surgical robotic systems. In 2022, the surgical robots segment held the largest share of the market. Robotic surgeries are surgical procedures performed using robotic surgical systems. Surgical robots are self-automated and computer-controlled medical devices that are programmed to assist in the positioning and manipulating the surgical instruments, these surgical robots helps surgeons to perform complex surgical procedures. These robots has the ability to enhance the capabilities of surgeons performing open surgery. Therefore, the surgical robots are allowed to perform the complex and advanced surgical procedures with increases precision through minimally invasive ways. However, the rehabilitation robots segment is anticipated to register the highest CAGR during the forecast period.
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Based on application, the global medical robots market is segmented into laparoscopy, neurology, orthopedics, gynecology, urology, cardiology, and others. In 2022, the laparoscopy segment held the largest share of the market. However, the neurology segment is expected to register the highest CAGR during the forecast period. Laparoscopy is a surgical diagnostic procedure used to examine the organs inside the abdomen. Robotic surgery is a minimally invasive procedure that requires only small incisions and has low risk. In 2000, the da Vinci surgery system became the first robotic surgery system approved by the FDA for general laparoscopic surgery. And the latest high-end model is the da Vinci Xi. The deployment of medical robots has led to improved efficiency in laparoscopic surgical procedures. In January 2022, a robot performed laparoscopic surgery on the soft tissue of a pig without the guiding hand of a human. As the medical field moves toward more laparoscopic approaches for surgeries, it will be important to have an automated robotic system designed for such procedures to assist. One of the major reasons behind the growing preference for laparoscopic procedures in recent years is the gradual shift of the healthcare sector away from open surgeries. The laparoscopy market is likely to grow in the coming years due to all the factors mentioned above.
Based on end user, the global medical robots market is segmented into hospitals, ambulatory surgical centers, and others. In 2022, the hospitals segment held the largest share of the market. Moreover, the same segment is expected to register the highest CAGR in the market during the forecast period, owing to the medical advantages and usage of medical robots in the surgical procedures at an increased rate and enhaced performance of the robots during surgical procedures.
Product launches and collaborations are highly adopted strategies by the global medical robots market players to expand their global footprints and product portfolios. The players also focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name globally. They aim to flourish their market shares with the development of innovative products. A few of the recent key market developments are listed below:
The global medical robots market is segmented based on product, application, and end user. In terms of product, the global medical robots market is segmented into surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital & pharmacy robots, and others. Based on application, the global medical robots market is segmented into laparoscopy, neurology, orthopedics, gynecology, urology, cardiology, and others. In terms of end user, the medical robots market is segmented into hospitals, ambulatory surgical centers, and others.