Global Medical Robotic System Market: Technological Innovations to Boost the Growth By 2026 With Top Players Intuitive Surgical, Transenterix, Medrobotics, Verb Surgical, Hansen Medical, MEDTECH, Titan Medical, Microbot Medical

The medical robotic systems market is mainly influenced by surgical robots. Robotic systems are used for orthopedics, neurosurgery, laparoscopy, and catheter operations. Advancement in the technology and technique to treat patients by minimal invasive methods are expected to favor growth of the medical robotic systems market. Such systems help reduce chronic pain and hospital stay, and increases the accuracy of surgery, thus being a preferred option. Non-invasive radiosurgery robots provide non-invasive treatment for patients suffering from complex tumors. Such patients cannot undergo normal operation and are treated with radiation Cyberknife, a robotic radiosurgery system. Cyberknife systems deliver high doses of radiation with high accuracy to a broad range of tumors throughout the body.

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Increasing use of hospital and pharmacy robots in developed economies are expected to boost growth of the medical robotic systems market in the near future. The number of FDA-approvals for such systems has also increased, in turn fueling growth of the market. The global medical robotic systems market was valued at US$ 6,816.4 million in 2016 and is expected to witness a robust CAGR of 14.8 % over the forecast period (2017-2025).

Market Dynamics

Medical robotic system is quite an unexplored field, which is rapidly advancing due to technological advancements in the recent past. The available medical robotic systems have recently emerged, however, potential of this market is yet to be understood and achieved. This defines immense opportunities for manufacturers operating in the medical robotic systems market. Improvement in the design of medical robots and reduction in expense and size by manufacturers are expected to create a favorable environment for growth of the market. Furthermore, increasing number of robotic laparoscopy procedures and increasing neurological conditions among the populace, has increased the demand for robotic procedures, in turn projected to boost market growth.

Wide application of medical robotic systems in healthcare is expected to favor growth of the medical robotic systems market

Laparoscopy, neurology, rehabilitation, hospital, pharmacies, and orthopedics are the major application of medical robotic systems, which are expected to drive growth of the market. Rapid adoption of medical robotic systems in hospitals and growing preference for minimally invasive surgeries are also expected to fuel the market growth. For neurology application, Renaissance, Mazor Robotics, the first generation system cleared FDA approval in 2011 and received CE mark for spinal surgery and brain operations. The preciseness provided by medical robotic systems is projected to be the key factor fueling demand for robotic systems in various surgeries.

Some major players operating in the medical robotic system market are Intuitive Surgical, Transenterix, Medrobotics, Verb Surgical, Hansen Medical, MEDTECH, Titan Medical, Microbot Medical, Aethon, and Aesynt.

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Modern surgery techniques and awareness among the populace are expected to favor market growth

Medical robotic systems are extensively used in laparoscopic surgery, which is a minimal invasive surgery to treat hernia. This is expected to provide immense opportunity for growth of the market for medical robotic systems. North America accounts for the largest share in the global medical robotic systems market, followed by Europe. This is mainly attributed to the presence of skilled surgeons in North America and availability of maximum number of robotic systems in the region. The medical robotic market is expected to exhibit a high growth rate in the Asia-Pacific over the forecast period, supported by increasing prevalence of surgery. Increasing expenditures on healthcare by the population, is also expected to boost market growth. China and Japan hold the most developed medical robotic systems market in Asia Pacific.

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