Medical Robotics and Computer - Assisted Surgery Market Is Expected to Reach $20.5 Billion

Medical Robotics and Computer Assisted Surgery Market is expected to garner $20.5 billion by 2022. Medical robotics and computer-assisted surgical system is a technologically advanced surgical, rehabilitation, and assistive solution used mainly during complicated surgical procedures, physical complications, and hospital automation, respectively. The medical robotics and computer-assisted surgery industry is majorly segmented into surgical, rehabilitation, non-invasive radiosurgery, and pharmacy automation robots. The surgical robotics system includes surgeons console, surgical arms, and monitoring systems & software.

The surgical robotic systems market achieved prominence in the recent years, owing to rapid technological advancements, increasing investments in R&D, and its extensive application in critical surgeries such as cardiac, orthopedic, and neurosurgery. Furthermore, a wide scope of applications in different surgeries, increasing demand for advanced medical facilities, and rising incidence of diseases, such as cancer and obesity, majorly supplement the growth of the global surgical robotic systems market. In case of rehabilitation robots, the medical robotics and computer-assisted surgery market gained popularity because of the rising aging population prone to the physical disabilities and growing need of automated-assistive rehabilitation solutions.

On the contrary, high costs of surgical robotic procedures, surgical systems, and rehabilitation exoskeleton; lack of awareness about advance robotic solutions; and inadequate presence of trained personnel are major factors that impede the market growth.

The global medical robotics and computer-assisted surgery market is segmented into surgical robotics, rehabilitation robotics, non-invasive radio-surgical robotics, and hospital & pharmacy robotics. The surgical robotics market is further segmented into components, indications, and geography. Based on indications, it is segmented into gynecology, urology, orthopedic, neurology, and general surgeries. Based on component, it is segmented into systems, accessories, and services. The rehabilitation robotics market is further categorized into components, types, and geography. Based on component segment, the market is divided into products and services. Based on type, the market is segmented into prosthetics, orthotics, and exoskeleton.

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The non-invasive radiosurgery market is classified into components and geography. Based on component, it is categorized into products and services. Similarly, the hospital and pharmacy robotics market is segmented into types and geography. Based on types, the medical robotics and computer-assisted surgery market is further bifurcated into IV robots and medication-dispensing robots. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The country level split is analyzed separately.

The surgical robotics segment accounted for the highest portion of the medical robotics and computer-assisted surgery market share that is of around 44% in 2015, owing to rising adoption of surgical robotic systems across Tier-1 hospitals, recurrent sales of accessories for these systems, and demand for highly efficient replaceable components. Hospitals and pharmacy robots are likely to emerge as the leading segment because of the improving healthcare infrastructure and increasing healthcare expenditure across the geographic regions. The rehabilitation robotics segment is expected to exhibit the fastest growth, with a CAGR of 20.8% during the forecast period.

North America accounted for the highest revenue-generating region in 2015, with around 53% share of total global medical robotics and computer-assisted surgery market size. Rapid technological advancements, increasing investments in R&D activities, rising patent pool, and widening scope of applications supplement the growth of the North American region. However, Asia-Pacific is anticipated to emerge as the leading region during the forecast period, rowing at a CAGR of 16.5%. This is mainly attributed to the impending need for sophisticated healthcare facilities and rising incidence of gynecological diseases among others.

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The rising need for advance technology and better treatment options for critical diseases; increasing patient pool with critical diseases, such as gynecological diseases, urological disorders, and cardiac diseases; and growing R&D activities of medical device manufacturers drive the global medical robotics and computer-assisted surgery market. However, the high cost of medical robotics and the procedures carried out using them hampers the market growth. At present, robotic surgeries are performed for urological, gynecological, neurological, orthopedic, and gastrointestinal diseases and disorders. However, the scope and application of these surgical robots is likely to increase soon. Currently, Intuitive Surgical, Inc. is the dominant player in the market adoption, around 60% of the market. However, the scenario is likely to change in the coming years as many leading medical device manufacturers would enter the market by acquiring small-scale surgical robotic system manufacturers. For instance, Stryker Corporation and Smith & Nephew acquired Mako Surgical Corp. and Blue Belt Technology, respectively, which are popular surgical robotic system manufacturers for orthopedic surgeries.

In addition, the increasing boom for non-invasive robotic radiosurgery for the treatment of cancerous and non-cancerous tumors is likely to boost the adoption of medical robots globally. The timeless appeal of a highly effective non-invasive therapy promises that further improvements in robotic radiosurgery. Moreover, the shifting trend from conventional surgery to minimally-invasive and truly non-invasive robotic surgery is responsible for the growth of the medical robotics and computer-assisted surgery market. Furthermore, CXOs are very optimistic about the adoption of these medical robots worldwide, which is expected to be supplemented by the increasing awareness about the advance surgical solutions, growing government initiatives, and improving healthcare infrastructure in developing regions. The adoption of surgical robotic system is highest in North America and Europe because of high affordability and purchasing power.

The rehabilitation robotics is yet another emerging concept in medical robotics and computer-assisted surgery industry. The involvement of robotic technology in the treatment and rehabilitation of paralyzed and amputees has taken the healthcare sector to another level. Several companies now focus on developing advanced robotic prosthetics, orthotics, and exoskeleton. The robotic rehabilitation device gives freedom to patients to go the places, which are not amenable to wheelchairs. Moreover, it also provides a big psychological boost to people for being able to talk to people and integrate into a social context. At present, companies, such as Ekso Bionics, Inc., ReWalk Robotics, Hocoma AG, and AlterG, Inc., continue to develop advanced robotic rehabilitation products to take the whole medical robotic industry to a new level.

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KEY BENEFITS

• This report provides an extensive analysis of the global medical robotics and computer-assisted surgery market trends and future estimations from 2016 to 2022, which assists in identifying the prevailing market opportunities.
• Geographically, this market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
• This study evaluating the competitive landscape and value chain is considered to understand the competitive environment existing across various geographical areas.
• Exhaustive analysis of this market by type helps in understanding the types of surgeries along with the variants of medical robots that are likely to gain prominence in the future.

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