Medical Robots Transforming Healthcare Market - Forecast(2021 - 2026)

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Medical Robots Transforming Healthcare Market Overview

Medical Robots Transforming Healthcare Market size is $7.6Billion in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025. Medical robotics is an evolving healthcare field that has been creating a healthcare paradigm change as it enhances the quality of patient care. Some of the factors expected to stimulate the adoption of medical robots are demographic change, the lack of healthcare personnel, the need to enhance the quality of life for the disabled and the elderly, and the need to improve surgical procedures coupled with the emphasis on developing technologically advanced robots. For instance, Japan's Health Ministry has approved Cyberdyne's HAL exoskeleton suit as a medical device, citing the benefits provided by rehabilitation robots, thus covering it under the public health insurance scheme.

Medical Robots Transforming Healthcare Market Report Coverage

The report: “Medical Robots Transforming Healthcare Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Medical Robots Transforming Healthcare Market. 
By Type: Surgical Robots, Rehabilitation Robots, Stereotactic Radiosurgery and Non-invasive radiosurgery robots
By Application: Laparoscopy, Orthopedic, Cardiology, Gynecology and Others.
By End User: Research & Development, Hospitals/Clinics and Others.
By Geography: North America, Europe, Asia-Pacific and Rest of the World.

Key Takeaways

  • The increasing shortage of healthcare professionals with the need to improve quality of life for disabled and elderly accelerates the Medical Robots Transforming Healthcare demand over the forecast years 2020-2025. 
  • The rise of Novel Coronavirus has also resulted in the extensive demand for medical robots in order to treat patients safely is likely to be the major driving factor for the market’s growth.
  • Europe region is projected to record the fastest growth rate during the forecast period 2020-2025.

Medical Robots Transforming Healthcare Market Segment Analysis - By Type

In 2019, Surgical segment dominated the Medical Robots Transforming Healthcare Market in terms of revenue is estimated to grow at a CAGR of 7.3%. The growing use in the healthcare industry of surgical robots that are associated with medical robotics is increasing significantly. Surgical robots are commonly used as an assistant position, conducting operations beyond human limits. Many hospitals and clinics are now rapidly introducing surgical robots, and surgical procedures such as laparoscopic surgery, heart-thorax surgery, orthopaedics and trauma surgery are largely dominant abetting towards the growth of the market.

Medical Robots Transforming Healthcare Market Segment Analysis - By Geography 

In 2019, the North America region dominated Medical Robots Transforming Healthcare Market in terms of revenue with a market share of 42% owing towards rising public & private funding for R&D in this region. Medtronic's Stealth Autoguide technology is being introduced by Phoenix Children's Hospital in the US. This platform robotically assists the neurosurgeons in order to position the instruments accurately during medical procedures. Also, the rising Pandemic in US has raised the demand for robots which will further accelerate the markets growth. According to the American Heart Association, 99 million people in the region are suffering from heart diseases and strokes, the increasing number of cardiovascular diseases is anticipated to increase the demand for non-invasive surgeries further giving rise to medical robots transforming healthcare market. Government has taken initiatives to promote technological advancements and initiatives to escalate the minimally invasive surgical process are key factors in the growth of the Medical Robots Transforming Healthcare market. Europe is expected to record the fastest growth rate during the forecast period 2020-2025. 

Medical Robots Transforming Healthcare Market Drivers

Rapid Growth In Technological Advancements And Growing Preference Of Non-Invasive Procedures By Patients

Growing technical innovation encourages the development of the sector. Monarch, a surgical robotic platform that combines modular robotics, micro-instrumentation, and data science for better bronchoscopic procedures, was introduced by Hansen Medical in March 2018. Medical robot uses non-invasive surgeries in the field of gynecology, cosmetology, open surgery, laparoscopic procedures, and others. These procedures deliver negligible risks, reduce the risk of infections, decrease discomfort, and improve recovery more quickly. Traumatic injuries, cancers and cardiovascular disease raise the impact of surgical intervention in medical robots transforming healthcare market.

Medical Robots Transforming Healthcare Market Challenges

Lack of Skill & High Cost of Implementation

The cost and absence of trained workers operating the robots are the key challenges hindering the increasing implementation of robotics. The investment in industrial robots is very high, which impedes the use of robots and, in addition, the need for knowledgeable workers also has a significant effect on the use of robotics in healthcare sector. Most of the hospital or clinic deny to have medical robotics owing to its high price as this condition forces hospitals and clinics to market these procedures at higher prices. Also, regulatory concerns regarding usage of medical robots and growing stringent government policy and regulation toward the use of product for application is restraining growth of the market. 

Medical Robots Transforming Healthcare Industry Outlook 

Product Launches was the key strategy of the players in the Medical Robots Transforming Healthcare Industry. Medical Robots Transforming Healthcare top 10 companies include Elekta AB, Hocoma AG, Intutive Surgicals Inc., Mazor Robotics, Rewalk, Varian Medical Systems, Accuray Inc., MedtEch S.A., Kuka Roboter GMBH and Irobot Corporation

Acquisitions/Product Launches

  • In February 2020, Intuitive Surgical Inc. acquired Orpheus Medical. This acquisition helped the company expand its product line, providing access to information technology and archiving surgical video to hospitals around the globe.
  • In May 2016, Mazor Robotics entered into partnership with Medtronic plc. for its robot-assisted spine surgery technology that includes a co-promotion agreement and an equity investment of $42million.


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1. Medical Robots Transforming Healthcare Market Overview
    1.1 Definitions and Scope
2. Medical Robots Transforming Healthcare Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends 
    2.2 Key trends by Type
    2.3 Key trends by Application
    2.4 Key rends by Geography
3. Medical Robots Transforming Healthcare Market 
    3.1 Market Share Analysis
    3.2 Comparative Analysis
        3.2.1 Product Benchmarking – Key Companies
        3.2.2 Financial Analysis– Key Companies
        3.2.3 Patent Analysis
        3.2.4 Customer Analysis
4. Medical Robots Transforming Healthcare Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Medical Robots Transforming Healthcare Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Medical Robots Transforming Healthcare Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Medical Robots Transforming Healthcare Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Medical Robots Transforming Healthcare Market – By Type (Market Size –$Million/$Billion)
    8.1 Surgical Robots
    8.2 Rehabilitation Robots
    8.3 Stereotactic Radiosurgery
    8.4 Non-invasive radiosurgery robots
9. Medical Robots Transforming Healthcare Market – By Application (Market Size –$Million/$Billion)
    9.1 Laparoscopy
    9.2 Orthopedic
    9.3 Cardiology
    9.4 Gynecology
    9.5 Others
10. Medical Robots Transforming Healthcare Market – By End User (Market Size –$Million/$Billion)
    10.1 Research & Development
    10.2 Hospitals/Clinics
    10.3 Others
11. Medical Robots Transforming Healthcare Market -  By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 of the World
        11.4.1 Middle East
        11.4.2 Africa
        11.4.3 South America
12. Medical Robots Transforming Healthcare Market - Entropy
13. Medical Robots Transforming Healthcare Market – Industry/Segment Competition Landscape      Premium  
    13.1 Market Share Analysis
        13.1.1 Market Share by Region – Key companies
        13.1.2 Market Share by Countries – Key Companies
        13.1.3 Best Practices for Companies
14. Medical Robots Transforming Healthcare Market – Key Company List by Country Premium  Premium
15. Medical Robots Transforming Healthcare Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
1.1 Surgical Robot Market 2019-2024 ($M) - Global Industry Research
1.2 Rehabilitation Robot Market 2019-2024 ($M) - Global Industry Research
1.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Global Industry Research
1.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Global Industry Research
2.Global Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 (Volume/Units)
2.1 Surgical Robot Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Rehabilitation Robot Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Non-Invasive Radiosurgery System Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Hospital & Pharmacy Robot Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
3.1 Surgical Robot Market 2019-2024 ($M) - Regional Industry Research
3.2 Rehabilitation Robot Market 2019-2024 ($M) - Regional Industry Research
3.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Regional Industry Research
3.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Regional Industry Research
4.South America Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
4.1 Surgical Robot Market 2019-2024 ($M) - Regional Industry Research
4.2 Rehabilitation Robot Market 2019-2024 ($M) - Regional Industry Research
4.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Regional Industry Research
4.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Regional Industry Research
5.Europe Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
5.1 Surgical Robot Market 2019-2024 ($M) - Regional Industry Research
5.2 Rehabilitation Robot Market 2019-2024 ($M) - Regional Industry Research
5.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Regional Industry Research
5.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Regional Industry Research
6.APAC Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
6.1 Surgical Robot Market 2019-2024 ($M) - Regional Industry Research
6.2 Rehabilitation Robot Market 2019-2024 ($M) - Regional Industry Research
6.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Regional Industry Research
6.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Regional Industry Research
7.MENA Medical Robots:Marketing & Promotion Strategy Adopted By Vendor Market 2019-2024 ($M)
7.1 Surgical Robot Market 2019-2024 ($M) - Regional Industry Research
7.2 Rehabilitation Robot Market 2019-2024 ($M) - Regional Industry Research
7.3 Non-Invasive Radiosurgery System Market 2019-2024 ($M) - Regional Industry Research
7.4 Hospital & Pharmacy Robot Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
2.Canada Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
3.Mexico Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
4.Brazil Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
5.Argentina Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
6.Peru Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
7.Colombia Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
8.Chile Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
9.Rest of South America Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
10.UK Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
11.Germany Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
12.France Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
13.Italy Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
14.Spain Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
15.Rest of Europe Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
16.China Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
17.India Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
18.Japan Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
19.South Korea Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
20.South Africa Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment Market Revenue, 2019-2024 ($M)
21.North America Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment By Application
22.South America Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment By Application
23.Europe Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment By Application
24.APAC Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment By Application
25.MENA Medical Robots Transforming Healthcare Pricing & Cost-Benefit Assessment By Application