Medical Robotics Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Japan, China, Germany, UK - Size and Forecast 2022-2026

“The Medical Robotics Market is poised to grow by USD 8.90 billion during 2022-2026, accelerating at a CAGR of 23.6% during the forecast period”

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers market segmentation by the following:

• Product - Instruments and accessories and robotic systems
• Application - Laparoscopy, orthopaedic surgery, neurosurgery, and others
• Geography - North America, Europe, APAC, Middle East and Africa, and South America

The market report also offers information on several market vendors, including Asensus Surgical US Inc., Accuray Inc., Acieta LLC, Auris Health Inc., CMR Surgical Ltd., Denso Wave Inc., Diligent Robotics Inc., Intuitive Surgical Inc., Kawasaki Heavy Industries Ltd., Kinova Inc., KUKA AG, Manta Product Development Inc., Mayo Foundation for Medical Education and Research, Medtronic Plc, Merck KGaA, Seiko Epson Corp., Smith and Nephew plc, Stryker Corp., THINK Surgical Inc., and Zimmer Biomet Holdings Inc. among others.

What will the Medical Robotics Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report belonging to Machinery Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Medical Robotics Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the global Medical Robotics Market belonging to the Capital Goods Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key Market Driver

• The advantages of robot-assisted training in rehabilitation therapy is one of the key drivers supporting the market growth. Stroke is one of the common, dangerous, and disabling healthcare problems.
• Research on robot-assisted therapy in stroke rehabilitation has increased rapidly in the past few decades. The advantages provided by robot-assisted therapy in stroke rehabilitation include delivering high-dosage and high-intensity training, which helps patients with motor disorders caused due to a stroke or spinal cord disease.
• The improvement of gait function in patients with stroke is one of the advantages of robot-assisted therapy. These advantages provided by rehabilitation robots are expected to drive the growth of medical robotics during the forecast period.

Key Market Trend

• Technological advancements is another factor supporting market growth.
• Researchers are continuing to focus on rehabilitation robots that aid in enhancing mobility in patients who have lost mobility in their limbs.
• Medical robotics is now being used for medication dispensing and home care. These technological developments have made the life of patients easy. Furthermore, technological advances in medical robotics have helped reduce hospital stays and risks of hospital-acquired infections.
• The recovery time is fast, pain and discomfort are less post-surgery, and blood loss and transfusions are reduced with the use of medical robotic surgical procedures. Such advantages are expected to drive market growth during the forecast period.

Key Market Challenge

• The safety concerns over robotic surgical devices is hindering the market growth. For instance, robot-assisted surgery involves cardiopulmonary risks of anaesthesia, infection, and excess bleeding. Similarly, robotic systems are associated with risks related to the functioning of the machine.
• Mechanical failure due to the breakdown of system components, such as robotic arms, binocular lenses, cameras, and robotic towers, can disrupt the process.
• Arcing occurs when the electrical current from the robotic instrument leaves the robotic arm and is misdirected to the surrounding tissue. This can cause internal burn injuries. Such instances may limit the market growth during the forecast period.

Who are the Major Medical Robotics Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

• Asensus Surgical US Inc.
• Accuray Inc.
• Acieta LLC
• Auris Health Inc.
• CMR Surgical Ltd.
• Denso Wave Inc.
• Diligent Robotics Inc.
• Intuitive Surgical Inc.
• Kawasaki Heavy Industries Ltd.
• Kinova Inc.
• KUKA AG
• Manta Product Development Inc.
• Mayo Foundation for Medical Education and Research
• Medtronic Plc
• Merck KGaA
• Seiko Epson Corp.
• Smith and Nephew plc
• Stryker Corp.
• THINK Surgical Inc.
• Zimmer Biomet Holdings Inc.

Market Overview

The parent, the global industrial machinery market, covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The global industrial machinery market is expected to grow at a moderate pace. Technavio calculates the global industrial machinery market size based on combined revenue generated by manufacturers of machinery and components used in the industrial environment.

Medical Robotics Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a market flow and provides a complete understanding of all aspects of the market logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for Medical Robotics Market?

45% of the market's growth will originate from North America during the forecast period. The US is the key market for market in North America. Market growth in this region will be slower than the growth of the market in other regions.

Rising investments in advanced technologies to treat health conditions such as strokes and neurological diseases, growth of the aging population, high disposable income, and investments in medical science drive the growth of the market in the region. The major part of the revenue in North America will be contributed by the US.The outbreak of the COVID-19 pandemic had a negative impact on market growth in North America in 2020. The high number of deaths caused by COVID-19 led to the imposition of lockdowns in the US, Canada, and Mexico in 2020. The imposition of lockdowns and restrictions on import-export activities largely affected the markets supply chain in focus, especially in the US. A rise in the number of COVID-19 cases, owing to the second wave of the outbreak in early 2021, disrupted the usual market demand from the end-user industries. However, since the first half of 2021, the market growth has stabilized as vaccination drives were initiated across the region and thus resulted in the opening of various manufacturing units. These factors are expected to drive the growth of the regional medical robotics market over the forecast period.

What are the Revenue-generating Product Segments in the Medical Robotics Market?

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The medical robotics market share growth by the instruments and accessories segment will be significant during the forecast period. The instruments and accessories segment holds the largest share of the global medical robotics market and is expected to grow at a fast pace during the forecast period. Surgical instruments and accessories are used concurrently in robotic surgeries. The accessories include sterile drapes, camera heads, light guides, and other items that facilitate the use of robotic systems. Instruments include the mechanical arms used to perform surgery through tiny incisions. For instance, Intuitive Surgicals instruments and accessories comprise a variety of EndoWrist instruments, including the EndoWrist one vessel sealer, stapler; and accessories such as replacement 3D stereo endoscopes, camera heads, and light guides that facilitate the use of the da Vinci Surgical System. The use of instruments and accessories in robotic surgeries helps in improving diagnostic abilities. They provide a less invasive and more comfortable experience to patients. The instruments and accessories segment is expected to grow at a fast pace during the forecast period. 

The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key opportunities in each region over the coming years.

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What are the Key Data Covered in this Medical Robotics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the growth during the next five years
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of medical robotics market vendors

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