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“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:
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.
Download Report Sample to Unlock the Medical Robotics Market Size for the Forecast Period and Other Important Statistics
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.
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
Key Market Trend
Key Market Challenge
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
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.
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.
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.
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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.
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. |
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