Medical robotics market took birth to improve the clinical, especially operational effectiveness of conventional modes of therapies and surgeries. It is the science which combines robotics with lifesciences and healthcare. With the help of medical robots, patients are being treated with utmost accuracy and guarantee. While the global market for robotics is already growing at a CAGR of 19% until 2020 according to the latest market study by experts of IndustryARC, newer and existing players are determined to improvise on these surgical robots by making these robots clinically as well as operationally cost effective.
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MARKET GROWTH OUTLOOK:
Segment: Surgical robots segment the leading revenue generating segment with an estimated CAGR of 19% during 2015-2020.
While surgical robots is leading the market, rehabilitation robotics are growth potential segments owing to the prosthetics and exoskeleton robots which have been assessed as the most effective alternative method of treatment for the physically handicapped people, disabled people and also the traumatized individuals for helping conduct activities of daily living (ADLs). Minimally invasive surgery with the use of robots has evolved as the safer and convenient method of treatment by the surgeons as well as the patients in various parts of the world. Pain Less Cancer Therapy can be assured with the aid of non-invasive radio surgery robots which can deliver accurate doses of ionizing radiation to destroy tumors.
Telemedicine robots, hospital robots are few other famous robots being adopted at good enough rates.
Geographical Analysis: Industry currently led by the U.S., which is followed by Europe with a market share of 62% and 24% respectively.
The forecast period, 2015-2020 is expected to witness AAPC and Europe as the leading regions across the globe, owing to the high adoption rate of these robots in the hospitals of these areas. Earlier records show the Americas contributing a whopping 62% of the total market share. Over the years, a steady increase in the healthcare spending in developed countries like the U.S. has been observed.
Table of contents and insights:
In around a span of 5 years, the robotics industry has the entry of fresh products called Da Vinci Robots and Radio Surgery Robots. The da vinci surgeries are proving themselves successful and being more adopted with passing years by the top medical institutions. Some more efficient models launched are the robotic exoskeletons in the rehabilitation robotics segment, cleaning and disinfectant robots and telemedicine robots.
Various surgical procedures are being conducted with the assistance of robots such as urological procedures, gynecological procedures, general surgical procedures, cardiothoracic procedures and many more.
Until few years ago, the extremely high costs for the robots were the biggest market barrier. But as years have passed, the industry is winning the consumers interest as well as revenue, owing to the high capabilities and potentials that the robots possess. While currently the revenue generated is fair enough, market experts project that the high-cost barrier will soon let go and be easier for the consumers to afford the robots of surgeries. Costs are estimated to fall around the world.
Market Driving Factors: Urgent Need for Replacing Conventional Methods of Surgeries.
- Driven by the Need to Overcome the Limitations of Conventional Surgeries.
- The success of da vinci robotic surgeries is sure set to break all grounds in the future.
- Implementation of Patient Protection and Affordable Care Act (PPACA or ACA) will drive the global market
- Increasing demand for industrial robots.
- Technological advancements in healthcare coupled with intensive research, funding and investments for R&D.
REPORT SCOPE: Market Segmentation:
On analysis of the global robotics market, IndustryARC segregates the same into types based on factors like:
- By Type: Surgical Robots, Rehabilitation Robots, Non-Invasive Radio Surgery Robots, Robotic Catheters, Telemedicine Robots and Hospital Robots. With sub segments each:
- Surgical Robots: Neurosurgical Robots, Orthopaedic Robots and Laparoscopy Robots.
- Rehabilitation Robots: Exoskeleton Robots, Prosthesic Robots and Assistive Robots.
- By Geography: Americas, Europe, APAC and ROW.
Notable Market Players: Hansen Medical Inc. has gained utmost prominence with its high-end quality productions.
Hocoma AG, Ekso bionics, Intuitive Surgical Inc., Stryker Corporation and Mazor Robotics Ltd are accounted to be one of the top most competitors of the global scale Medical Robotics Market. All these major market players are profiled along with company overview, financial status, business strategies, product portfolio, recent trends and developments.
Hansen Medical Inc. is one of the number one leading companies in this field which is known for production of Robotic Catheter Systems which have application in performing various kinds of electrophysiology procedures. On the other hand, companies such as Accuray Inc. and Varian Medical Systems are famous for manufacturing of robot assisted radio surgery market. Hocoma and ReWalk Robotics are companies who manufacture exoskeleton robotics.
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