Medical robotics and computer-assisted surgical system is a technologically advanced surgical, rehabilitation, and assistive solution used mainly during complicated surgical procedures, physical complications, and hospital automation, respectively. This market is majorly segmented into surgical, rehabilitation, non-invasive radiosurgery, and pharmacy automation robots. The surgical robotics system includes surgeons console, surgical arms, and monitoring systems & software. The surgical robotic systems market achieved prominence in the recent years, owing to rapid technological advancements, increasing investments in R&D, and its extensive application in critical surgeries such as cardiac, orthopedic, and neurosurgery. Furthermore, a wide scope of applications in different surgeries, increasing demand for advanced medical facilities, and rising incidence of diseases, such as cancer and obesity, majorly supplement the growth of the world surgical robotic systems market. In case of rehabilitation robots, the market gained popularity because of the rising aging population prone to the physical disabilities and growing need of automated-assistive rehabilitation solutions.
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On the contrary, high costs of surgical robotic procedures, surgical systems, rehabilitation exoskeleton; lack of awareness about advance robotic solutions; and inadequate presence of trained personnel are major factors impeding the market growth. The world medical robotics and computer-assisted surgery market is estimated to reach $20.5 million by 2022, with a CAGR of 12.1% from 2016 to 2022.
The world medical robotics and computer-assisted surgery market is segmented into surgical robotics, rehabilitation robotics, non-invasive radio-surgical robotics, and hospital & pharmacy robotics. The surgical robotics market is further segmented into components, indications, and geography. On the basis of indications, it is segmented into gynecology, urology, orthopedic, neurology, general, and other surgeries. On the basis of component, it is segmented into systems, accessories, and services. The rehabilitation robotics market is further categorized into components, types, and geography. On the basis of component segment, the market is divided into products and services. On the basis of type, the market is segmented into prosthetics, orthotics, and exoskeleton.
The non-invasive radiosurgery market is classified into components and geography. Based on component, it is categorized into products and services. Similarly, the hospital and pharmacy robotics market is segmented into types and geography. Based on types, the market is further bifurcated into IV robots and medication-dispensing robots. On the basis of geography, the medical robotics and computer-assisted surgery market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The country level split is analyzed separately.
The surgical robotics segment accounted for the highest market share of around 44% in 2015, owing to rising adoption of surgical robotic systems across Tier-1 hospitals, recurrent sales of accessories for these systems, and demand for highly efficient replaceable components. Hospitals and pharmacy robots are likely to emerge as the leading segment because of the improving healthcare infrastructure and increasing healthcare expenditure across the geographic regions. The rehabilitation robotics segment is expected to exhibit the fastest growth, with a CAGR of 20.8% during the forecast period.
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North America accounted for the highest revenue-generating region in 2015, with around 53.0% share of world medical robotics and computer-assisted surgery market. The market growth in the North American region is supplemented by rapid technological advancements, increasing investments in R&D activities, rising patent pool, and widening scope of applications. However, Asia-Pacific is anticipated to emerge as the leading region during the forecast period, rowing at a CAGR of 16.5%. This is mainly attributed to the impending need for sophisticated healthcare facilities and rising incidence of gynecological diseases among others.
The rising need for advance technology and better treatment options for critical diseases; increasing patient pool with critical diseases, such as gynecological diseases, urological disorders, and cardiac diseases; and growing R&D activities of medical device manufacturers drive the world medical robotics and computer assisted surgery market. However, the high cost of medical robotics and the procedures carried out using them hampers the market growth. At present, robotic surgeries are performed for urological, gynecological, neurological, orthopedic, and gastrointestinal diseases and disorders. However, the scope and application of these surgical robots is likely to increase in the near future. Currently, Intuitive Surgical, Inc. is the dominant player in the market adoption, around 60% of the market. However, the scenario is likely to change in the coming years as many leading medical device manufacturers would enter the market by acquiring small-scale surgical robotic system manufacturers. For instance, Stryker Corporation and Smith & Nephew acquired Mako Surgical Corp. and Blue Belt Technology, respectively, which are popular surgical robotic system manufacturers for orthopedic surgeries.
In addition, the increasing boom for non-invasive robotic radiosurgery for the treatment of cancerous and non-cancerous tumors is likely to boost the adoption of medical robots globally. The timeless appeal of a highly effective noninvasive therapy promises that further improvements in robotic radiosurgery. Moreover, the shifting trend from conventional surgery to minimally invasive and truly non-invasive robotic surgery is responsible for the growth of this market. Furthermore, CXOs are very optimistic about the adoption of these medical robots worldwide, which is expected to be supplemented by the increasing awareness about the advance surgical solutions, growing governments initiatives, and improving healthcare infrastructure in developing regions. The adoption of surgical robotic system is highest in North America and Europe because of high affordability and purchasing power.
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segmentation
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXOs perspective
2.2 Market beyond what expected by 2027 ($million)
2.2.1 Moderate growth scenario
2.2.2 Rapid growth scenario
2.2.3 Diminishing growth scenario
Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top investment pockets
3.2.2 Top winning strategies
3.3 Porter five forces analysis
3.3.1 Bargaining power of suppliers
3.3.2 Bargaining power of buyers
3.3.3 Threat of new entrants
3.3.4 Threat of substitute
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