Industry Detail

Market Outlook:

The Global medical robots’ market is expected to offer an $ opportunity of USD 14,324.7 million over the forecast period. Market was estimated USD 11,721.6 million during 2023 and expected to grow at a significant CAGR 18.6% over the projected period.

Robotic-assisted surgery is a type of minimally-invasive surgery done by a surgeon using a computer-assisted system to operate through small incisions using tiny instruments

AI and robotics are truly transforming the healthcare space and bringing innovation in every aspect of healthcare services. Integration of robots in healthcare space is becoming more attentive due to the benefits it offers such as patients care, Streamlining Clinical Workflows, assisting precise surgical procedures, assistive rehabilitation devices, automated diagnostics among others. Since robotization has huge potential, its application still needs deep dive. 

Various types of robots are utilized for different types of functions:

Report has investigated below Categories in Detail along with their examples: 

• Surgical robots
• Pharmacy robots
• Robotics in rehabilitation medicine
• Robotic telemedicine
• Robotics in infection control
• Mobile logistics robots
• Modular Robots
• Robots For Radiotherapy
• Others

Market Segmentation Analysis by:

• By Robots Category
  • Surgical-assistance robots
  • Modular robots
  • Service robots
  • Social robots
  • Mobile robots
  • Autonomous robots
• By Modalities
  • Remote Surgery
  • Microbot-assisted disease detection and treatment
  • Minimally invasive surgery
  • Orthopedic surgery
• By Surgical Procedures
  • Cancer tissue removal
  • Coronary artery bypass
  • Cystectomy
  • Pyloroplasty
  • Gallbladder removal
  • Hernia repair
  • Hip replacement
  • Tubal ligation
  • Hysterectomy
  • Kidney removal
  • Kidney transplant
  • Tumor removal
  • Others
• By End User Outlook
  • Hospitals
  • Ambulatory surgical centers
  • Others

Functional Opportunity Analysis: Robots performed various functions such as patients’ interaction, patients’ appointments, disinfect hospitals rooms, finding information online and reminding patients medication

Promising Future of Robotics: Technological advancements in robotics could enable robots to perform activities does not required human interventions, such performing lab test, remove plaque from arteries, take tissue biopsies, reduce patients visits and deliver targeted medication

Challenges in Adoption: Market Barriers for Robots Adoption Examined in the Report - Stakeholders faces various challenges some of the challenges detailed in report provided below:

• Bridging gap with patients’ confidence
• Dearth of skilled professionals
• Maintenance cost
• Dealing with Regulatory Framework
• Acceptability and Usability
• Safety data concerns and Reliability
• Capability and Function
• Clinical Effectiveness
• Social acceptance
• Lack Of Emotional Interaction
• Cost Effectiveness

Report Insights: 

• In India, there are more than 500 skilled robotic surgeons and in 2022, nearly 16000 surgical procedures performed with the assistance of robots.
• Current market landscape is dominated by the da Vinci surgical system (Intuitive Surgical)
• In Europe, robotic assisted surgeries going to increase by 20-28% over the next couple of years
• Till July 2022, approximately 12 million da Vinci robotic-assisted surgical procedures have been performed globally, including 1.2 million in Europe across therapy area such as urology, gynaecology, colorectal, thoracic, and general.
• As per 2019 data (UK), ~92% of radical prostatectomies procedures were robotic assisted
• More than 61,000 surgeons around the world have been trained on da Vinci systems
• As of 2021, Intuitive Surgical had an installed base of 6,730 da Vinci Surgical Systems
  • United States: 4,139
  • Europe: 1,199 
  • Asia: 1,050

Market Enablers: Various Market drivers examined in the report, few of them provided below in brief:

• Surging chronic disease prevalent pool
• Dearth of healthcare providers: According to UN, world population over 60 years would be double from 12 % to 22%. They will be needing health care. AI could fill this market gap
• Rising minimally invasive surgeries
• Scarcity of trained medical personnel

Market Opportunity Analysis: 

Robotization in healthcare is a game changing concept. It would enable healthcare sector as a whole to truly transform the patient’s life and improve therapeutics outcomes. Players aspiring to exploit market opportunity, will investment more in this sector and gain competitive advantage. Report has deeply investigated the opportunities exist in the market place. 

Competitive Landscape: 

Competitive structure covers insights on established and start-up players. Analysis done around, established year, offerings, funding secures, technology outlook, future strategic move.

Players: Versius, CMR Surgical (Cambridge, UK) and Hugo, Medtronic (Minnesota, USA); TransEnterix;  Avatera;  Titan Medical; Medrobotics; Virtual Incision;  Microsure; Galen Robotics; Distalmotion; Preceyes; FlexDex Surgical; Human Xtensions; Intuitive Surgical; Globus Medical

Report Coverage:

Reason to buy this report:

• Fostering Understanding on Robotics in Healthcare
• In Order to Understand the Market Potential
• Opportunity Analysis (exist in the market for players)
• Obtaining Market Growth in Robotics Procedures
• Exploring future prospects of Robotics in healthcare
• To Know Current and Future Market Trends
• To get Adoption Barriers Assessment
• Geographic Market Attractiveness Evaluation
• Investment Opportunity Analysis
• Key Players and their Key Strategic Move