Global Medical Robotics Market Report 2019-2026 - Increasing Demand for Minimally Invasive Surgery (MIS) Triggers Robust Growth
DUBLIN, Jan. 3, 2020 /PRNewswire/ -- The "Medical Robotics Global Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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 gynecology, 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. The 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 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. The 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, gynecology, 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. The 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 mid-single digit CAGR from 2019 to 2026.
Hospital and pharmacy robotics global market by product type 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.
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.).
Key Topics Covered
1 Executive Summary
2 Introduction
3 Market Analysis
3.1 Introduction
3.2 Market Segmentation
3.3 Factors Influencing Market
3.3.1 Drivers And Opportunities
3.3.1.1 High Precision And Accuracy As Compared To Conventional Procedures
3.3.1.2 Increasing Demand For Minimally Invasive Robotic Surgery
3.3.1.3 Increasing Prevalence Of Gynaecology, Urology And Orthopedic Disorders
3.3.1.4 Technological Innovations In The Medical Robotics Market
3.3.1.5 Expansion In Emerging Markets
3.3.1.6 Increasing Aging Population
3.3.2 Restraints And Threats
3.3.2.1 Side Effects And Risks Associated With The Use
3.3.2.2 Lack Of Trained Professionals
3.3.2.3 High Cost For The Installation Of Medical Robotics System
3.3.2.4 Surgical Robotics Product Recall Due To Fda Mandates
3.3.2.5 Availability Of Alternative Treatments
3.3.2.6 Stringent Regulatory Guidelines
3.4 Regulatory Affairs
3.4.1 International Organization For Standardization
3.4.1.1 Iso 9001: 2015 Quality Management System
3.4.1.2 Iso 13485 Medical Devices
3.4.1.3 Iso 10993 Biological Evaluation Of Medical Devices
3.4.1.4 Iso 14971 Risk Management Of Medical Devices
3.4.1.5 Iso 13482:2014 Safety Requirements For Personal Care Robots
3.4.1.6 Iec 60601-1 Medical Electrical Equipment Standard
3.4.1.7 Iec 60601-1-2 Electromagnetic Compatibility (Emc) For Medical Devices
3.4.1.8 Iec 60601-1-11 Home Care Safety
3.4.2 U.S.
3.4.3 Canada
3.4.4 Europe
3.4.5 Japan
3.4.6 China
3.4.7 India
3.5 Clinical Trials Data
3.6 Patent Trends
3.7 Technological Advancements
3.7.1 Nano-Robots
3.7.2 Renaissance Guidance System
3.7.3 Smart Tissue Autonomous Robot (Star)
3.7.4 Virtual Incision Corp'S Miniature Robot
3.7.5 Virob Platform
3.7.6 Tipcat
3.8 Porter'S Five Force Analysis
3.8.1 Threat Of New Entrants
3.8.2 Threat Of Substitutes
3.8.3 Bargaining Power Of Suppliers
3.8.4 Bargaining Power Of Buyers
3.8.5 Competitive Rivalry
3.9 Supply Chain Analysis
3.10 Reimbursement Scenario
3.10.1 Reimbursement Table
3.11 Regulatory Approved Surgical Robotics
3.11.1 Surgical Robotics
3.12 Funding Scenario
3.13 Market Share Analysis By Major Players
3.13.1 Medical Robotics Global Market Share Analysis
3.13.2 Surgical Robotics Global Market Share Analysis
3.13.3 Rehabilitation Robotics Global Market Share Analysis
3.13.4 Hospital And Pharmacy Robotics Global Market Share Analysis
3.14 Medical Robotics Number Of Units By Region
3.14.1 Surgical Robotics Number Of Units By Region
3.14.2 Rehabilitation Robotics Number Of Units By Region
3.15 Surgical Robotics Installed Base
3.16 Market Penetration
3.17 Medical Robotics Company Comparison Table By Revenue, Product Type, Name And Application
4 Medical Robotics Global Market, By Product
4.1 Introduction
4.2 Surgical Robotics
4.2.1 Surgical Robotics Global Market By Product Type
4.2.1.1 Surgical Robotic Systems
4.2.1.2 Surgical Robotic Instruments & Accessories
4.2.1.3 Surgical Robotic Services
4.2.2 Surgical Robotics Global Market By Application
4.2.2.1 Orthopedics
4.2.2.2 Gynaecology
4.2.2.3 Urology
4.2.2.4 Neurosurgery
4.2.2.5 General, Gastroenterology (Laparoscopy)
4.2.2.6 Cancer
4.2.2.7 Other Surgical Robotics Applications
4.3 Rehabilitation Robotics
4.3.1 Assistive Robots
4.3.2 Exoskeleton Robots
4.3.3 Prosthetics
4.4 Hospital And Pharmacy Robotics
4.4.1 Pill Dispensing Robots
4.4.2 Fill And Pack Robots
4.4.3 Other Hospital And Pharmacy Robots
5 Regional Analysis
5.1 Introduction
5.2 North America
5.2.1 U.S.
5.2.2 Rest Of North America
5.3 Europe
5.3.1 Italy
5.3.2 France
5.3.3 Germany
5.3.4 Rest Of Europe
5.4 Apac
5.4.1 Japan
5.4.2 South Korea
5.4.3 China
5.4.4 Rest Of Apac
5.5 Row
5.5.1 Turkey
5.5.2 Brazil
5.5.3 Other Rest Of The World
6 Competitive Landscape
6.1 Introduction
6.2 Product Approval
6.3 Acquisition And Partnership
6.4 New Product Launch
6.5 Others
7 Major Companies
7.1 Accuray Incorporated
7.1.1 Overview
7.1.2 Financials
7.1.3 Product Portfolio
7.1.4 Key Developments
7.1.5 Business Strategy
7.1.6 Swot Analysis
7.2 Globus Medical, Inc.
7.3 Intuitive Surgical, Inc.
7.4 Johnson & Johnson
7.5 Medtronic Plc
7.6 Omnicell, Inc.
7.7 Siemens Healthineers Ag
7.8 Smith & Nephew Plc
7.9 Stryker Corporation
7.10 Zimmer Biomet Holdings Inc.
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