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Medical Robotics Market by Product, Application and Geography - Forecast and Analysis 2022-2026

  • Published: Feb 2022
  • Pages: 120
  • SKU: IRTNTR72286
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The medical robotics market share is expected to increase to USD 8.90 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 23.6%.

The medical robotics 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.

This medical robotics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers medical robotics market segmentation by the following:

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

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

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Which are the Key Regions for Medical Robotics Market?

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45% of the market’s growth will originate from North America during the forecast period. The US is the key market for medical robotics 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 will facilitate the medical robotics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

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. 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. This growth will be driven by the introduction of innovative instruments and accessories by manufacturers. 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. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical robotics market size and actionable market insights on post COVID-19 impact on each segment.

Medical Robotics Market: Key Drivers, Trends, and Challenges

The advantages of robot-assisted training in rehabilitation therapy is notably driving the medical robotics market growth, although factors such as safety concerns over robotic surgical devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical robotics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medical Robotics Market Driver

The advantages of robot-assisted training in rehabilitation therapy is one of the key drivers supporting the medical robotics 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 Medical Robotics Market Trend

Technological advancements is another factor supporting the medical robotics 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 Medical Robotics Market Challenge

The safety concerns over robotic surgical devices is hindering the medical robotics market growth. For instance, robot-assisted surgery involves cardiopulmonary risks of anesthesia, 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. In addition, 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.

This medical robotics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the medical robots market as a part of the global industrial machinery market. 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 medical robotics market during the forecast period.

Who are the Major Medical Robotics Market Vendors?

The report analyzes the market’s competitive landscape and 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.
  • Zimmer Biomet Holdings Inc.

 

This statistical study of the medical robotics market encompasses successful business strategies deployed by the key vendors. The medical robotics market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Auris Health Inc. - The company offers robotic-assisted bronchoscopy under MONARCH platform to treat lung nodules.
  • senhance.com - The Company offers Senhance surgical system which removes the economic limitations of current robotic systems with standard reusable instruments and an open-platform architecture strategy that enables hospitals to leverage existing technology investments. That keeps time and cost-per-procedure comparable to manual laparoscopy, so that the benefits of robotics can reach more patients, in more care settings, for a greater variety of procedures.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medical robotics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Medical Robotics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the medical robotics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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 the forecast period

Customization purview

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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 medical robotics market growth during the next five years
  • Precise estimation of the medical robotics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical robotics 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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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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The medical robotics market growth will increase by $8907.67 million during 2021-2026.
The medical robotics market is expected to grow at a CAGR of 23.6% during 2021-2026.
Technavio has segmented the medical robotics market by product (Instruments and accessories and Robotic systems) ,application (Laparoscopy, Orthopedic surgery, Neurosurgery, and Others) , and geographic (North America, Europe, APAC, Middle East and Africa, and South America).
Asensus Surgical US Inc., Accuray Inc., Acieta LLC, Auris Health Inc., CMR Surgical Ltd., Denso Wave Inc., Diligent Robotics?é?áInc., 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. are a few of the key vendors in the medical robotics market.
North America will register the highest growth rate of 44.89% among the other regions. Therefore, the medical robotics market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the medical robotics market growth are:
  • Advantages of robot-assisted training in rehabilitation therapy
  • Technological advancements
The medical robotics market vendors should focus on grabbing business opportunities from the instruments and accessories segment as it accounted for the largest market share in the base year.
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