Universal $46.24 Bn Medical Robotic Systems Market Quadruples by 2022 with a ~ 21.32 % of Whooping CAGR | Renishaw Plc., Varian, MAKO Surgical Corp., Health robotics S.R.L, Accuracy and Intuitive Surgical
In 2012, the Global Medical Robotic Systems Market was evaluated around USD 6.69 billion and is expected to reach approximately USD 46.24 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 21.32% over the forecast period.
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Competitive Outlook and Trend Analysis:
Market players that rule the global market are; Renishaw Plc., Varian, MAKO Surgical Corp., Health robotics S.R.L, Accuracy and Intuitive Surgical, Inc. The global industry is vastly split with organizations concentrating widely on R&D approaches in order to exploit the accessible opportunities through developing technologically advanced and cost-effective products.
Renishaw plc, a metrology company, designs, manufactures, distributes, sells, and services metrology and healthcare products worldwide. The company offers metrology products, including additive manufacturing systems, co-ordinate measuring machine products, machine tool probe systems, styli for probe systems, performance testing products, gauging systems, fixtures, and position encoders.
MAKO Surgical Corp., a medical device company, markets its advanced robotic arm solution, joint specific applications for the knee and hip, and orthopedic implants for orthopedic procedures in the United States and internationally. The company offers MAKOplasty, a restorative surgical solution that enables orthopedic surgeons to treat patient specific osteoarthritic disease.
Health Robotics S.r.l. manufactures IV compounding and dispensing robotic devices and workflow systems. It offers i.v.STATION ONCO, a second generation robot for compounding oncology sterile preparations; i.v.STATION, a second generation robot for compounding non-hazardous IV preparations; i.v. STATION 2, an automated solution for compounding sterile parenteral nutrition and non-hazardous medications; CytoCare, an automated solution for compounding hazardous sterile IV preparations;
Industry Trend Analysis:
Major factors fueling the medical robots market growth are; rapidly emerging demand for efficient, precise and least invasive surgical procedures, expansion in the number of these surgical procedures owing to rising disease occurrence levels, is also expected to boost the market expansion. Development of medical infrastructure and the advent of sophisticated healthcare equipment are anticipated to make easy further adoption of robotic systems in urbanized nations. The global market is experiencing a paradigm transformation over the period owing to technological innovations in the fields of High definition microscopic cameras, 3D-Imaging, data recorders data analytic, remote navigation, robotically controlled catheters, and motion sensors. The extent of technology advancement is to build up novel applications for present platforms and also generate troublesome technologies that boost the demand. The market is experiencing an increasing trend of organizations joining forces on technology platforms with intermediary vendors to formulate novel applications.
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Product Outlook and Trend Analysis:
In 2014, surgical robots reported for the leading market share at around 60% due to, the growing demand for least invasive surgical procedure and rising rate of adoption in hospitals. Also, technological innovations concerning to counteract the drawbacks of laparoscopic surgical procedures that involve Da Vinci Surgery with better accuracy and sleight rendering favorable results are anticipated to positively strengthen growth during the forecast years. Also, rising number of medical applications are anticipated to boost the potential growth of this market.
Medical Robotic Systems Market, By Product: Surgical Robots, Orthopedic Surgical Robots, Robodoc surgical system, iBlock surgical system, Stanmore Sculptor surgical system, Navio PFS surgical system, MAKO RIO surgical system, Neurosurgical Robotic Systems, Pathfinder surgical system, NeuroMate surgical system, Renaissance surgical system, Laparoscopy Robotic Systems, FreeHand endoscope holder system, Da Vinci robotic surgery system, Telelap ALF-X surgical system, Steerable Robotic Catheters, Rehabilitation Robots, Assistive Robots, Prosthetics, Orthotics, Therapeutic Robots, Exoskeleton Robotic Systems, Noninvasive Radiosurgery Robots, TrueBeam STx radiosurgery system, CyberKnife robotic radiosurgery system, Gamma Knife Perfexion radiosurgery system, Hospital and Pharmacy Robots, Telemedicine Robots, I.V. Robots, Pharmacy Robots, Cart transportation robots, Emergency response robotic systems, LS-1 robotic system, AutoPulse Plus robotic system.
Application Outlook and Trend Analysis:
In 2014, laparoscopy was the leading application owing to the growing geriatric population, rising demand for modestly invasive therapeutic and diagnostic procedures, and growing younger population with unhealthy lifestyles for example, fatty foods and alcohol consumption and absence of physical exercises is also prone to assign to the expansion of target illnesses over the next few years. Moreover, expansion of new systems with superior maneuverability and magnification, improved micro motions, and easier manipulation of the tools in patient’s body ensued as the advancement of surgical procedures. On account of such abovementioned factors, laparoscopy is anticipated to experience profitable growth during the forecast years. On the other hand, growing occurrence of neurological diseases such as strokes, brain tumors, epilepsy & Parkinson’s illnesses, and increasing awareness levels concerning to robot-assisted surgical procedures are the major factors assigning to the beneficial expansion of the neurological application section during the forecast years.
Medical Robotic Systems Market, By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Regional Outlook and Trend Analysis:
In 2014, the North American regional market ruled the global market at around 40% due to the existence of advanced medical infrastructure and rising demand for robot-assisted surgical operations along with elevated healthcare spending levels in this region. Rising adoption of robot-assisted surgical operations in a series of surgical applications is balanced to achieve massive importance in surgeons’ armamentarium. The Asia Pacific regional medical robotic systems market is anticipated to expand at the top rate over the forecast years owing to the presence of unexplored market opportunities, continuously improving medical infrastructure, and elevated awareness levels among patients are a few of the major factors assigning to market growth.
List of Tables:
Table 1.Global Medical Robotic Systems Market, By Product, 2012-2022 ($Million)
Table 2.Surgical Robots Market, By Type, 2012-2022 ($Million)
Table 3.Surgical Robots Market, By Region, 2012-2022 ($Million)
Table 4.Orthopedic Surgical Robots Market, By Type, 2012-2022 ($Million)
Table 5.Orthopedic Surgical Robots Market, By Region, 2012-2022 ($Million)
List of Figures:
Figure 1.Global Medical Robotic Systems Market Share, By Product, 2016 & 2025
Figure 2.Global Medical Robotic Systems Market, By Application, 2016, ($Million)
Figure 3.Global Medical Robotic Systems Market, By Region, 2016, ($Million)
Figure 4.iRobot Corporation: Net Revenues, 2014-2016 ($Million)
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