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Posted by geekstation on September 10, 2024 at 8:15am 0 Comments 0 Likes
Posted by smithmorgan on September 10, 2024 at 8:15am 0 Comments 0 Likes
A new market study, titled “ Global Medical Robotic Systems Market, By Type (Rehabilitation Robots, Orthopaedic Surgical Robot…October 29, 2020
REPORT HIGHLIGHT
Medical robotic systems market was valued at USD 7.69 billion by 2019, growing with 12.8% CAGR during the forecast period, 2020-2026
Medical robotics is the integrated system that automates the operations tasks during the surgery using artificial intelligence. The Robot Institute of America (RIA) defined medical robots as a multifunctional and reprogrammable manipulator which is designed to move medical materials, tools, parts, or specialized devices through programmed motions for the performance of surgical tasks. Such systems allow operators to act more accurately than the assisted human companion. These are the artificial intelligence-based surgical assistance system. With the help of this system, the surgeon has to make tiny incisions in the human body or sometimes no skin incisions have to make at all. However, in the conventional method relatively large incisions have to make on the patient’s body. A high-definition three-dimensional camera or miniaturized instruments are inserted into the patient’s body in the procedure by the surgeon through the nearby console.
Medical robotics holds great potential in the healthcare industry by providing various assistance in surgical procedures and bringing down the cost of healthcare. The industry is ultimately an application-driven research field. Thus, the development of new product applications would require significant innovation and fundamental advancements in technologies.
Market Dynamics
The medical robotics industry is causing a paradigm shift in healthcare therapy. Technology advancements are considered to be one of the primary driving factors for the growth of the global medical robotics industry. For instance, recently in October 2018, Medrobotics declared the first sale of the product for gastroenterology applications called Flex Robotic System in Europe. This system enables physicians to access the body’s anatomical locations that were difficult to reach minimally invasively. Such introductions would, in turn, expand the scope of medical robots in various applications, driving the industry growth significantly. Furthermore, the issuance of Independent Practice Organizations (IPOs) by medical robotic players is supporting the industry growth especially market demand among the clinic’s category.
An increasing number of minimally invasive surgeries are projected to further create a huge opportunity for the medical robotics market, especially in developed regions, including North America and Europe. The rising preference for minimally invasive procedures is majorly attributed to its considerable cost savings, faster recovery periods, increased safety, reduced pain, decreased scarring, fewer cuts, and smaller incisions. A study performed by the U.S. based medical device company, EndoEvolution, stated that more than 1.5 million minimally invasive surgeries are performed in the U.S. every year. Robotic surgeries are normally associated with minimally invasive procedures that are performed through tiny incisions. Thus, the demands for medical robots will increase as the number of minimally invasive procedures rises.
Owing to the aforementioned facts, the overall number of robotic medical procedures is increasing at a constant rate. As per the U.S. FDA, in 2017, around 877,000 procedures were performed using intuitive surgical robots across the globe. On the contrary, factors such as technical complications while performing surgeries coupled with high cost will pull back the industry growth. As per the study performed by the U.S. FDA, from 2000 till now, the medical robotic system is linked to 8.1K device malfunctions, 1.4K injuries, and around 150 deaths.
Type Takeaway
Depending upon types, the global medical robotic systems market is categorized into emergency response, hospital and pharmacy, non-invasive radiosurgery, surgical, and rehabilitation robots. The surgical category is further categorized into neurosurgical (Pathfinder, Renaissance, and NeuroMate), orthopedic (iBlock, Robodoc, Stanmore Sculptor, MAKO RIO, and Navio PFSsurgical system), laparoscopy (Da Vinci, FreeHand endoscope holder, and Telelap ALF-X), and steerable robotic catheters. The rehabilitation product category is further classified as orthotics, assistive robots, prosthetics, therapeutic robots, and exoskeleton robotic systems. Hospital robots are further divided into telemedicine, intravenous, pharmacy, and cart transportation robots. Emergency robotic products are sub-classified into the LS-1 robotic system, and auto pulse plus robotic system. Whereas, non-invasive radiosurgery robots are sub-divided into TrueBeamSTx, CyberKnife, and Gamma Knife Perfexion radiosurgery system.
Among the aforementioned segments, the surgical product category accounted for the highest revenue share owing to the growing adoption rate of this equipment in hospital facilities. Of the different surgical robots, it is analyzed that the steerable catheter system is projected to grow with the fastest CAGR of over 13% from 2019 to 2026. On the other side, the therapeutic robot segment is anticipated to expand at a rapid pace during the study period. The development of therapeutic robots has revolutionized the practice of physical medicine. Growth of this category is majorly attributed to the rapid technological developments in terms of cloud technology, adaptive programming, and voice recognition to strengthen the utility and efficiency of the overall product performance.
Application Takeaway
In terms of applications, the industry is broadly segmented as special education, laparoscopy, orthopedics robotic systems, and neurology. As robotic process approaches for commercial use, the global industry is diversifying with novel surgical modalities, new technologies, and smaller product sizes. Of the different applications, the laparoscopy segment accounted for the highest revenue share owing to the availability of high precision robots for laparoscopic surgeries.
On the other hand, with the improvement in precision and accuracy, robot-assisted surgeries in orthopedic procedures are anticipated to propel market growth in the coming years. Advancement in technologies pertaining to the development of Image-Guided Orthopedic Systems (IGOS) such as Orthopilots (CT-free navigation system) is considered to be one of the high-impact rendering driving factors for the segment growth.
Regional Takeaway
In terms of geography, the worldwide medical robotic system market is divided into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among the above regions, the North America medical robotic system market accounted for the dominant value share in 2019. Organizations such as the Association of Manufacturing Technology (AMT), Association of Laboratory Automation (ALA), Automation Imaging Association (AF), and IEEE Robotics and Automation Society are actively involved in R&D activities to develop novel and advanced robotic systems for medical applications. This factor would, in turn, facilitate the regional growth to a higher level.
Europe’s medical robotic system market followed suit. Growth is primarily attributed to the rapid adoption of surgical robots in hospital facilities. The Asia Pacific is anticipated to expand at the rapid pace over the forecast period, owing to rising patient awareness, improving healthcare infrastructure, and the presence of emerging opportunities. Furthermore, advancements such as the introduction of new generation Robotic Surgical Technology (ROSA) in India that deals with an array of surgical interventions especially to treat Parkinson and Epilepsy is likely to propel the regional growth to great extent.
ALSO READ http://www.marketwatch.com/story/global-medical-robotic-systems-mar...
Key Vendor Takeaway
Few of the prominent market players responsible for the growth of the medical robotic systems market are iRobot Corporation, Titan Medical Inc., Medrobotics Corporation, Hansen, RenishawPlc, Health Robotics SLR, Intuitive Surgical, OR Productivity plc, Mazor Robotics, Accuray, Mako Surgical Corp., Varian Medical Systems, and Stereotaxis Inc.
The market players are focusing on collaborating with regional universities and hospitals for research and development purposes. In May 2019, Accuray Incorporated signed an agreement with Hong Kong Sanatorium & Hospital (HKSH) for the acquisition of correction technology and two Synchrony motion tracking. This collaboration was aimed to expand the use of motion and correction technologies with the hospital’s Radixact Systems.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MEDICAL ROBOTIC SYSTEMS MARKET KEY PLAYERS
iRobot Corporation
Medrobotics Corporation
Titan Medical Inc.
Hansen
Renishaw plc
Health Robotics SLR
OR Productivity plc
Intuitive Surgical
Mazor Robotics
Accuray
Mako Surgical Corp.
Varian Medical Systems
Stereotaxis Inc.
Others
MEDICAL ROBOTIC SYSTEMS MARKET BY TYPE
Surgical Robots
Neurosurgical Robotic Systems
NeuroMate
Pathfinder
Renaissance
Orthopedic Surgical Robots
Robodoc
Navio PFS
iBlock
MAKO RIO
Stanmore Sculptor
Laparoscopy Robotic Systems
Telelap ALF-X surgical system
Free-Hand endoscope holder system
Da Vinci robotic surgery system
Steerable Robotic Catheters
Emergency response robotic systems
Auto Pulse Plus robotic system
LS-1 robotic system
Noninvasive Radiosurgery Robots
CyberKnife Robotic
TrueBeam STx
Gamma Knife Perfexion
Rehabilitation Robots
Therapeutic Robots
Assistive Robots
Prosthetics
Orthotics
Exoskeleton Robotic Systems
Hospital and Pharmacy Robots
Intravenous Robots
Pharmacy Robots
Telemedicine Robots
Cart transportation robots
MEDICAL ROBOTIC SYSTEMS MARKET, BY APPLICATION
Laparoscopy
Neurology
Orthopedics
Special Education
Others
MEDICAL ROBOTIC SYSTEMS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA
FOR MORE DETAILS https://www.wiseguyreports.com/reports/5641741-medical-robotic-syst...
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