Medical Robotics Market by Product, Application and Geography - Forecast and Analysis 2022-2026
| Published: Feb 2022 | Pages: 120 | SKU: IRTNTR72286 |
“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?
Download Report Sample to Unlock the Medical Robotics Market Size for the Forecast Period and Other Important Statistics
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?
To gain further insights on the market contribution of various segments Request a PDF Sample
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.
|
Medical Robotics Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 23.6% |
|
Market growth 2022-2026 |
$ 8.90 billion |
|
Market structure |
Concentrated |
|
YoY growth (%) |
21.51 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 45% |
|
Key consumer countries |
US, Japan, China, Germany, and UK |
|
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
|
Key companies profiled |
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. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 01: Parent market
**2.2: Market Characteristics
***3. Market Sizing
**3.1 Market definition
*Exhibit 02: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 03: Market segments
**3.3 Market size 2020
**3.4 Market outlook: Forecast for 2020 - 2025
*Exhibit 04: Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 05: Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 06: Global Market: Year-over-year growth 2021-2026 (%)
*Exhibit 07: Global Market: Year-over-year growth 2021-2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 08: Five forces analysis 2020 & 2025
**4.2 Bargaining power of buyers
**4.3 Bargaining power of suppliers
**4.4 Threat of new entrants
**4.5 Threat of substitutes
**4.6 Threat of rivalry
**4.7 Market condition
*Exhibit 09: Market condition - Five forces 2021 and 2026
***5 Market Segmentation by Product
**5.1 Market segments
*Exhibit 10: Product - Market share 2021-2026 (%)
*Exhibit 11: Product - Market share 2021-2026 (%)
**5.2 Comparison by Product
*Exhibit 12: Comparison by Product
*Exhibit 13: Comparison by Product
**5.3 Instruments and accessories - Market size and forecast 2021-2026
*Exhibit 14: Instruments and accessories - Market size and forecast 2021-2026 ($ million)
*Exhibit 15: Instruments and accessories - Market size and forecast 2021-2026 ($ million)
*Exhibit 16: Instruments and accessories - Year-over-year growth 2021-2026 (%)
*Exhibit 17: Instruments and accessories - Year-over-year growth 2021-2026 (%)
**5.4 Robotic systems - Market size and forecast 2021-2026
*Exhibit 18: Robotic systems - Market size and forecast 2021-2026 ($ million)
*Exhibit 19: Robotic systems - Market size and forecast 2021-2026 ($ million)
*Exhibit 20: Robotic systems - Year-over-year growth 2021-2026 (%)
*Exhibit 21: Robotic systems - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Product
*Exhibit 22: Market opportunity by Product ($ million)
***6 Market Segmentation by Application
**6.1 Market segments
*Exhibit 23: Application - Market share 2021-2026 (%)
*Exhibit 24: Application - Market share 2021-2026 (%)
**6.2 Comparison by Application
*Exhibit 25: Comparison by Application
**6.3 Laparoscopy - Market size and forecast 2021-2026
*Exhibit 26: Laparoscopy - Market size and forecast 2021-2026 ($ million)
*Exhibit 27: Laparoscopy - Market size and forecast 2021-2026 ($ million)
*Exhibit 28: Laparoscopy - Year-over-year growth 2021-2026 (%)
*Exhibit 29: Laparoscopy - Year-over-year growth 2021-2026 (%)
**6.4 Orthopedic surgery - Market size and forecast 2021-2026
*Exhibit 30: Orthopedic surgery - Market size and forecast 2021-2026 ($ million)
*Exhibit 31: Orthopedic surgery - Market size and forecast 2021-2026 ($ million)
*Exhibit 32: Orthopedic surgery - Year-over-year growth 2021-2026 (%)
*Exhibit 33: Orthopedic surgery - Year-over-year growth 2021-2026 (%)
**6.5 Neurosurgery - Market size and forecast 2021-2026
*Exhibit 34: Neurosurgery - Market size and forecast 2021-2026 ($ million)
*Exhibit 35: Neurosurgery - Market size and forecast 2021-2026 ($ million)
*Exhibit 36: Neurosurgery - Year-over-year growth 2021-2026 (%)
*Exhibit 37: Neurosurgery - Year-over-year growth 2021-2026 (%)
**6.6 Others - Market size and forecast 2021-2026
*Exhibit 38: Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 39: Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 40: Others - Year-over-year growth 2021-2026 (%)
*Exhibit 41: Others - Year-over-year growth 2021-2026 (%)
**6.7 Market opportunity by Application
*Exhibit 42: Market opportunity by Application ($ million)
***7 Customer Landscape
**7.1 Customer landscape
*Exhibit 43: Customer landscape
***8 Geographic Landscape
**8.1 Geographic segmentation
*Exhibit 44: Market share by geography 2021-2026 (%)
*Exhibit 45: Market share by geography 2021-2026 (%)
**8.2 Geographic comparison
*Exhibit 46: Geographic comparison
*Exhibit 47: Geographic comparison
**8.3 North America - Market size and forecast 2021-2026
*Exhibit 48: North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 49: North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 50: North America - Year-over-year growth 2021-2026 (%)
*Exhibit 51: North America - Year-over-year growth 2021-2026 (%)
**8.4 Europe - Market size and forecast 2021-2026
*Exhibit 52: Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 53: Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 54: Europe - Year-over-year growth 2021-2026 (%)
*Exhibit 55: Europe - Year-over-year growth 2021-2026 (%)
**8.5 APAC - Market size and forecast 2021-2026
*Exhibit 56: APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 57: APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 58: APAC - Year-over-year growth 2021-2026 (%)
*Exhibit 59: APAC - Year-over-year growth 2021-2026 (%)
**8.6 Middle East and Africa - Market size and forecast 2021-2026
*Exhibit 60: Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 61: Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 62: Middle East and Africa - Year-over-year growth 2021-2026 (%)
*Exhibit 63: Middle East and Africa - Year-over-year growth 2021-2026 (%)
**8.7 South America - Market size and forecast 2021-2026
*Exhibit 64: South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 65: South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 66: South America - Year-over-year growth 2021-2026 (%)
*Exhibit 67: South America - Year-over-year growth 2021-2026 (%)
**8.8 US - Market size and forecast 2021-2026
*Exhibit 68: US - Market size and forecast 2021-2026 ($ million)
*Exhibit 69: US - Market size and forecast 2021-2026 ($ million)
*Exhibit 70: US - Year-over-year growth 2021-2026 (%)
*Exhibit 71: US - Year-over-year growth 2021-2026 (%)
**8.9 Japan - Market size and forecast 2021-2026
*Exhibit 72: Japan - Market size and forecast 2021-2026 ($ million)
*Exhibit 73: Japan - Market size and forecast 2021-2026 ($ million)
*Exhibit 74: Japan - Year-over-year growth 2021-2026 (%)
*Exhibit 75: Japan - Year-over-year growth 2021-2026 (%)
*Exhibit 76: China - Market size and forecast 2021-2026 ($ million)
*Exhibit 77: China - Market size and forecast 2021-2026 ($ million)
*Exhibit 78: China - Year-over-year growth 2021-2026 (%)
*Exhibit 79: China - Year-over-year growth 2021-2026 (%)
**8.10 Germany - Market size and forecast 2021-2026
*Exhibit 80: Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 81: Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 82: Germany - Year-over-year growth 2021-2026 (%)
*Exhibit 83: Germany - Year-over-year growth 2021-2026 (%)
**8.11 Germany - Market size and forecast 2021-2026
*Exhibit 84: Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 85: Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 86: Germany - Year-over-year growth 2021-2026 (%)
*Exhibit 87: Germany - Year-over-year growth 2021-2026 (%)
**8.12 UK - Market size and forecast 2021-2026
*Exhibit 88: UK - Market size and forecast 2021-2026 ($ million)
*Exhibit 89: UK - Market size and forecast 2021-2026 ($ million)
*Exhibit 90: UK - Year-over-year growth 2021-2026 (%)
*Exhibit 91: UK - Year-over-year growth 2021-2026 (%)
**8.13 Market opportunity by geography
*Exhibit 92: Market opportunity by geography ($ million)
***9 Drivers, Challenges, and Trends
**9.1 Market drivers
*9.1.1 Advantages of robot-assisted training in rehabilitation therapy
*9.1.2 Increasing adoption of surgical robots
*9.1.3 Rising preference for minimally invasive surgeries
**9.2 Market challenges
*9.2.1 Safety concerns over robotic surgical devices
*9.2.2 High cost of the robotics system
*9.2.3 Technical drawbacks
**9.3 Impact of drivers and challenges
*Exhibit 93: Impact of drivers and challenges
**9.4 Market trends
*9.4.1 Technological advancements
*9.4.2 Development of robots to assist the elderly population
*9.4.3 Changing global labor force trends
***10. Vendor Landscape
**10.1 Competitive scenario
**10.2 Vendor landscape
*Exhibit 94: Vendor Landscape
**10.3 Landscape disruption
*Exhibit 95: Landscape disruption
**10.4 Industry risks
*Exhibit 96: Industry risks
***11. Vendor Analysis
**11.1 Vendors covered
*Exhibit 97: Vendors covered
**11.2 Market positioning of vendors
*Exhibit 98: Market positioning of vendors
**11.3 Asensus Surgical US Inc.
*Exhibit 99: Asensus Surgical US Inc. - Overview
*Exhibit 100: Asensus Surgical US Inc. - Product / Service
*Exhibit 101: Asensus Surgical US Inc. - Key offerings
**11.4 Accuray Inc.
*Exhibit 102: Accuray Inc. - Overview
*Exhibit 103: Accuray Inc. - Business segments
*Exhibit 104: Accuray Inc. - Key offerings
*Exhibit 105: Accuray Inc. - Segment focus
**11.5 Auris Health Inc.
*Exhibit 106: Auris Health Inc. - Overview
*Exhibit 107: Auris Health Inc. - Product / Service
*Exhibit 108: Auris Health Inc. - Key offerings
**11.6 Intuitive Surgical Inc.
*Exhibit 109: Intuitive Surgical Inc. - Overview
*Exhibit 110: Intuitive Surgical Inc. - Product / Service
*Exhibit 111: Intuitive Surgical Inc. - Key offerings
**11.7 Manta Product Development Inc.
*Exhibit 112: Manta Product Development Inc. - Overview
*Exhibit 113: Manta Product Development Inc. - Product / Service
*Exhibit 114: Manta Product Development Inc. - Key offerings
**11.8 Medtronic Plc
*Exhibit 115: Medtronic Plc - Overview
*Exhibit 116: Medtronic Plc - Business segments
*Exhibit 117: Medtronic Plc - Key offerings
*Exhibit 118: Medtronic Plc - Segment focus
**11.9 Smith and Nephew plc
*Exhibit 119: Smith and Nephew plc - Overview
*Exhibit 120: Smith and Nephew plc - Business segments
*Exhibit 121: Smith and Nephew plc - Key news
*Exhibit 122: Smith and Nephew plc - Key offerings
*Exhibit 123: Smith and Nephew plc - Segment focus
**11.10 Stryker Corp.
*Exhibit 124: Stryker Corp. - Overview
*Exhibit 125: Stryker Corp. - Business segments
*Exhibit 126: Stryker Corp. - Key news
*Exhibit 127: Stryker Corp. - Key offerings
*Exhibit 128: Stryker Corp. - Segment focus
**11.11 THINK Surgical Inc.
Research Framework Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary. INFORMATION SOURCES Primary sources Secondary sources DATA ANALYSIS Data Synthesis Data Validation REPORT WRITING Qualitative Quantitative PURCHASE FULL REPORT OF medical robotics market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis