Medical Robotic Systems Market – Snapshot
Rapid growth of the medical robotic systems is attributed to a blend of technological improvements such as use of more efficient motors, compact and light materials, power back-up and sophisticated controls and safety mechanisms, along with more economic versions. Moreover, rise in demand for minimal invasive surgeries further boosts the medical robotic systems market. Medical robotic systems have been widely used for minimal invasive surgeries in the field of gynecology, cosmetology, open surgery, laparoscopic procedures, and flexible endoscopic procedures. These techniques cause minimal complications, reduce risk of infections, cause less pain, and have faster recovery time which leads to shorter hospital stay as compared to traditional therapies and treatments. These factors help increase acceptance and adoption of medical robotic systems by many medical facilities and centers. Medical robotic systems are self-powered, computer-controlled devices programmed to aid in positioning and manipulation of surgical instruments. The global medical robotic systems market was valued more than US$ 5,581.8 Mn and anticipated to reach US$ 25,738.8 Mn by 2025.
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Rise in funding for research & development activities by governments and private organizations, rapid growth in robotic technology, and surge in acceptance of minimal invasive surgeries are key factors fueling demand for medical robotic systems globally. Moreover, increase in the number of surgical procedures, higher purchasing power of hospitals, and rise in geriatric population are factors driving the global medical robotic systems market. However, high-cost associated with surgical robots and lack of skilled professionals in developing countries are major factors restraining the market. Robotic surgical systems have high fixed cost. Prices range from US$ 1 Mn to US$ 2.5 Mn. Radiosurgery robotic systems such as CyberKnife system cost US$ 4 Mn to US$ 5 Mn. Moreover, these systems require costly maintenance and require the use of additional consumables (single-use robotic appliances). Therefore, these systems are unaffordable for most hospitals in developing countries. Low-cost robotic systems and accessories create significant opportunities in developing and developed markets. Hence, the U.K.-based Cambridge Medical Robotics (CMR) is currently developing versatile, affordable, and easy-to-use robots.
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The global medical robotic systems market has been segmented based on product type and geography. In terms of product type, the surgical robots segment is anticipated to account for around 60% share of the market. Technological advancements, new product launches, and increase in purchasing power of hospitals and other health care setting are anticipated to propel the surgical robots segment during the forecast period. Demand for assistive and rehabilitation robots is anticipated to increase during the forecast period. Efficiency of such robots is speeding up the rehabilitation process among patients and reducing efforts of physicians. Easy performance mapping and therapy customization are major factors that have increase demand for such robots in the global market. Intense research & development in technology, design, efficiency, and safety of these systems is projected to create huge opportunities in the market segment in the future.
Based on countries and sub-region, the market is categorized into U.S., Germany, U.K., France, Italy, Spain, Russia, Sweden, Netherlands, China, India, Australia, Singapore, Brazil, Saudi Arabia, South Africa and Rest of the World. The U.S. is anticipated to drive the global medical robotic systems market. Better reimbursement policies and advanced health care infrastructure are key drivers boosting this market in the U.S. On the other hand, growth in the standard of healthcare infrastructure of the emerging economies such as China, India, Saudi Arabia and other countries has given scope to establishment of new and more sophisticated healthcare facilities. This, in turn, has increased market opportunities for major market players to introduce their robots in these regions.
Market players operating in the medical robotic systems market include Intuitive Surgical Inc., Accuray Incorporated, Hansen Medical Inc, Aethon, TransEnterix Surgical, Inc., Stereotaxis Inc. ReWalk Robotics, Titan Medical Inc., Stryker, and Medtech SA.