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Medical Robots Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023

  • Published Date: 28 Jul 2017
  • Number of Pages: 85
  • Category: Technology
  • Country: Global
Medical Robots Market Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023

Overview

The healthcare industry is characterized by several challenges such as high costs, care delivery failures and overtreatment that escalates healthcare costs and negatively impacts patient outcomes. This has led to an increased adoption of robots in the healthcare sector. Medical robots help surgeons to perform critical operations with precision thereby improving patients health. The use of robots in surgeries is also helpful in reducing human errors. The increase in funding for R&D of medical robots, technology advancements, increasing hospital investments on medical robots and issuance of IPOs by medical robots companies are the major driving factors for the market growth.

The growing ageing and chronically ill population are the prime factors creating opportunities for the makers of medical robots. The medical robot organizations are heading towards enhancing their offerings and are entering into partnerships with technology providers to cater to the increasing needs of the end-users. The high initial costs is a major concern in the market. The market is segmented by products, applications in surgical areas, and regions including North America, Europe, Asia Pacific, and RoW. Major companies, such as Medtronic, Stryker, Intuitive Surgical, Boston, and Mazor Robotics, are investing in integration of robotics technology into their products.

Market Analysis

According to Infoholic Research, the Medical Robots Market is expected to reach $17.58 billion by 2023, growing at a CAGR of 22.0% during the forecast period 20172023. The increased adoption of medical robots in hospitals and pharmaceuticals, the growing ageing population, and the increasing patients preference for minimally invasive surgeries are forcing organizations to focus on developing innovative solutions. The increasing demand for managed care and shortage of professionals in the healthcare domain are some of the additional factors contributing to the market growth.

Product Analysis

The products segment holds a prominent market share and is expected to reach $17.58 billion by 2023. A number of start-ups are entering the market to offer attractive designs and innovative features in medical robots to the customers. IoT innovations and the increasing R&D investments from big organizations for enhancement of their product portfolio are also contributing to the market growth.

Regional Analysis

Currently, North America has a majority share of the Medical Robots Market mainly due to technology advancements. The Medical Robots Market is witnessing a strong growth in countries such as the US and Canada. Europe is spending heavily in the manufacturing of innovative solutions for medical robots. The developing regions, such as Asia Pacific, is expected to improve its market share during the forecast period. The regional government initiatives for developing smart city projects and the increasing FDI for the development of digital healthcare infrastructure in the regions are the main factors contributing to the market growth. MEA is expected to experience a strong market as the regional governments are spending generously on infrastructural developments which will create huge opportunities for the key players to provide innovative solutions in the region.

Key Players

The key players covered in the report are Medtronic, Stryker, Intuitive Surgical, Boston Scientific, Mazor Robotics, BALT Extrusion, Cyberonics, and Ekso Bionics.

Competitive Analysis

The study covers and analyzes the Medical Robots market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

Benefits

The report provides an in-depth analysis of the Medical Robots market aiming to offer end-users with innovative medical robots, which enable surgeons in performing critical surgeries with greater precision. The report discusses about products, applications in surgical areas, and regions. With the information offered, key stakeholders can know about the major trends, drivers, investments, vertical players initiatives, and public private partnerships (PPPs) interest toward the adoption of medical robots in the healthcare industry. Further, the report provides details about the major challenges impacting the market growth. The report also covers the profiles of major companies.

Key Stakeholders

Device manufacturers,
suppliers,
distributors,
hospitals and diagnostic centers,
policy makers,
standard development organizations,
investor community,
university researchers,
blog writers,
and ambulatory surgery centers.
Publisher Name : Infoholic Research
Table of Contents
1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
1.3 PEST Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.3 Related Markets
3.3.1 AI in Healthcare
3.3.2 Industrial Robotics
4 Market Outlook
4.1 Overview
4.2 Market Trends
4.3 Market Definition Infoholic Research
4.4 Porter 5 (Five) Forces
5 Market Characteristics
5.1 Medical Robots: Advantages and Disadvantages
5.2 Evolution of Robot Assisted Surgery
5.3 Market Segmentation
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Benefits of robot assisted training in rehabilitation therapy
5.4.1.2 Technological advancements
5.4.1.3 Increasing funding on R&D
5.4.1.4 Increasing investments from hospitals
5.4.2 Restraints
5.4.2.1 Safety concerns over robotic surgery devices
5.4.2.2 High cost
5.4.3 Opportunities
5.4.3.1 Rapid growth in aging population
5.4.3.2 Huge opportunities for nanorobots makers
5.4.3.3 Increasing demand from patients for minimally invasive surgeries
5.5 DRO Impact Analysis
5.6 Key Stakeholders
6 Products: Market Size and Analysis
6.1 Overview
6.2 Instruments and Accessories
6.3 Medical Robotic Systems
6.3.1 Market Size and Analysis
6.3.2 Surgical Robots
6.3.2.1 Laparoscopy Robotic Systems
6.3.2.2 Neurosurgical Robotic Systems
6.3.2.3 Orthopedic Robotic Systems
6.3.2.4 Steerable Robotic Catheters
6.3.3 Rehabilitation Robotic Systems
6.3.3.1 Therapeutic Robotic Systems
6.3.3.2 Assistive Robotic Systems
6.3.3.3 Prosthetic Robotic Systems
6.3.3.4 Orthotic Robotic Systems
6.3.3.5 Exoskeleton Robotic Systems
6.3.4 Non-invasive Radiosurgery Robotic Systems
6.3.5 Hospital and Pharmacy Robotic Systems
6.3.5.1 Pharmacy Robotic Systems
6.3.5.2 IV Robotic Systems
6.3.5.3 Telemedicine Robots
6.3.6 Other Robotic Systems
7 Applications by Surgical Areas: Market Size and Analysis
7.1 Overview
7.2 Laparoscopy
7.2.1 Market Size and Analysis
7.3 Orthopedics
7.3.1 Market Size and Analysis
7.4 Neurology
7.4.1 Market Size and Analysis
7.5 Special Education
7.5.1 Market Size and Analysis
7.6 Others
7.6.1 Market Size and Analysis
8 Regions: Market Size and Analysis
8.1 Overview
8.2 North America
8.2.1 Market Size and Analysis
8.2.2 DRO for North America
8.2.3 US 43
8.2.4 Canada
8.3 Europe
8.3.1 Market Size and Analysis
8.3.2 DRO for Europe
8.3.3 UK
8.3.4 Germany
8.3.5 France
8.4 Asia Pacific
8.4.1 Market Size and Analysis
8.4.2 DRO for Asia Pacific
8.4.3 India
8.4.4 China
8.4.5 Japan
8.4.6 South Korea
8.5 Rest of the World
8.5.1 Market Size and Analysis
8.5.2 DRO for RoW
8.5.3 Brazil
8.5.4 Mexico
8.5.5 South Africa
8.5.6 GCC
9 Vendors Profile
9.1 Medtronic PLC
9.1.1 Overview
9.1.2 Business Segments
9.1.3 Geographic Presence
9.1.4 Business Focus
9.1.5 SWOT Analysis
9.1.6 Business Strategies
9.2 Stryker Corp.
9.2.1 Overview
9.2.2 Business Segments
9.2.3 Geographic Presence
9.2.4 Business Focus
9.2.5 SWOT Analysis
9.2.6 Business Strategies
9.3 Intuitive Surgical, Inc.
9.3.1 Overview
9.3.2 Business Segments
9.3.3 Geographic Presence
9.3.4 Business Focus
9.3.5 SWOT Analysis
9.3.6 Business Strategies
9.4 Boston Scientific Corp.
9.4.1 Overview
9.4.2 Business Segments
9.4.3 Geographic Presence
9.4.4 Business Focus
9.4.5 SWOT Analysis
9.4.6 Business Strategies
9.5 Mazor Robotics
9.5.1 Overview
9.5.2 Business Segments
9.5.3 Geographic Presence
9.5.4 Business Focus
9.5.5 SWOT Analysis
9.5.6 Business Strategies
10 Companies to Watch for
10.1 BALT Extrusion S.A.
10.1.1 Overview
10.1.2 Balt Extrusion in Medical Robots Market
10.2 Cyberonics Inc. (LivaNova PLC)
10.2.1 Overview
10.2.2 Cyberonics in Medical Robots Market
10.3 Ekso Bionics Holdings
10.3.1 Overview
10.3.2 Ekso Bionics in Medical Robots Market
Annexure
Abbreviations



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Kelli S.

The medical robots market research report was very helpful for me to make certain decisions regarding my personal investments. You team did a fine job. Thank You! 


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