Market Overview
Acknowledging the potential, the market holds to increase in the
years to come, Market Research Future (MRFR) in its recently published analysis
asserts that the global medical robotics
market size will witness a significant
growth USD 52.41 billion by 2032 registering a whopping CAGR of 15.69%
throughout the forecast period (2023 – 2032).
The Medical Robotics Market is a dynamic sector within healthcare,
characterized by the integration of robotic technologies into various medical
applications. This market encompasses surgical robots, rehabilitation robots,
telepresence robots, and robotic-assisted therapy devices. Key drivers of
market growth include advancements in robotic technology, increasing demand for
minimally invasive surgeries, and the need for precise and accurate medical
procedures. The market faces challenges such as high costs of robotic systems
and concerns regarding patient safety and efficacy. However, ongoing research
and development efforts, along with expanding applications in healthcare, are
expected to fuel market expansion in the coming years.
The medical robotics market is experiencing significant growth,
fueled by advancements in technology and increasing demand for minimally
invasive procedures. Robot-assisted surgery,
particularly through systems like the da Vinci Surgical System, has
revolutionized surgical practices across various medical specialties.
The da Vinci Surgical System, developed by Intuitive Surgical, is a
pioneer in robotic surgery, enabling surgeons to perform complex procedures
with enhanced precision, dexterity, and control. This robotic system utilizes
minimally invasive techniques, offering patients shorter hospital stays,
reduced postoperative pain, and faster recovery times.
Medical Robotics Market – Competitive Analysis
Highly competitive, the medical robotics market appears to be
fragmented owing to the presence of several well-established players. These
players are focusing on optimizing situational awareness towards customers to
ensure their mission success. They seek market expansion through various
strategic initiatives such as innovation, M&A, and increasingly invest in
R&D to develop cost-effective product portfolio. As they are aware
that these investments are going to help them to expand their market presence
Major Players:
The global medical robotics
companies include Smith & Nephew Ltd. (UK),
Stryker Corporation (US), ReWalk Robotics (Israel), Medtech SA (France), KUKA
Roboter GmbH (Germany), Hocoma AG (Switzerland), Aethon Inc. (US), Mazor
Robotics Ltd. (Israel), Intuitive Surgical, Inc. (US), Varian Medical System,
Inc. (US), Titan Medical, Inc. (US), Intouch Health Technologies, Inc. (US),
Medrobotics Corporation (US), Kinova (US), Carefusion
Inc.(US), Ekso Bionics Holdings, Inc. (US), Myomo Inc. (US), Hansen
Medical, Inc. (US), Transenterix, Inc. (US), ZOLL Medical Corp. (US), and
Auroba Biomed Inc. (US) among others.
Global Medical Robotics Market – Segmentations
For ease of understanding, the market has been segmented into
three key dynamics: -
By Product : Various
Accessories, Hospitals & Pharmacies (I.V.
Robots, Pharmacy Robot, and others), Medical
Surgical Robotic Systems (Neurosurgical Robotic
Systems, Orthopaedic Robotic Systems, Laparoscopy Surgical Robotic Systems, and
other), and Rehabilitation Services (Prosthetic
Robots, Orthotics Robots, Assistive Robots, Therapeutic Robots, and
other) among others.
By Application
: Cardiology, Neurology, Rehabilitation, and Laparoscopy among others.
By
Regions
: North America, Asia Pacific, Europe, and the
Rest-of-the-World.
Global Medical Robotics Market –Geographical Analysis
The North American region, heading with the huge number of
technological advances leads the global medical robotics market,
accounting for over 40% of the market share. Factors such as the augmenting
demand for well-developed healthcare infrastructure and robot-assisted
surgeries driven by the high healthcare expenditure drive the growth of the
regional market.
The medical robotics market in the European region accounts for
the second-largest market, globally. Favorable governmental support and
initiatives are expected to help the market to grow extensively, registering a
considerable CAGR throughout the forecast period. The proliferating healthcare
sector led by the resurging economy is radiantly fostering the growth in the
regional market.
The Asia Pacific medical robotics market has been rapidly emerging
as a profitable market, globally. Factors such as the huge technological
developments and the continually developing healthcare infrastructure that is
led by the rapidly developing economy are expected to boost the growth of the
regional market, allowing it to register a fabulous CAGR throughout the
assessment period, proving more opportunities to the international players.
For more information, Please Visit us @ Market Research Future
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