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

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


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



Executive Summary

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 USD 17.58 billion by 2023, growing at a CAGR of 22.0% during the forecast period 2017-2023. 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 USD 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 player's 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.

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

 

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

 

CHART 1 PEST ANALYSIS OF MEDICAL ROBOTS MARKET

CHART 2 RESEARCH METHODOLOGY OF MEDICAL ROBOTS MARKET

CHART 3 ROBOTICS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 4 MEDICAL ROBOTS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 5 PORTER 5 FORCES ON MEDICAL ROBOTS MARKET

CHART 6 EVOLUTION OF ROBOT ASSISTED SURGERY

CHART 7 MEDICAL ROBOTS MARKET SEGMENTATION

CHART 8 MARKET DYNAMICS-DRIVERS, RESTRAINTS & OPPORTUNITIES

CHART 9 DRO-IMPACT ANALYSIS OF MEDICAL ROBOTS MARKET

CHART 10 MEDICAL ROBOTS MARKET SHARE BY PRODUCTS, 2017 AND 2023

CHART 11 INSTRUMENTS AND ACCESSORIES MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 12 MEDICAL ROBOTIC SYSTEM MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 13 SURGICAL ROBOTS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 14 REHABILITATION ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 15 NON-INVASIVE RADIOSURGERY ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 16 HOSPITAL AND PHARMACY ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 17 OTHER ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 18 MEDICAL ROBOTS MARKET SHARE BY APPLICATIONS BY SURGICAL AREAS, 2017 AND 2023

CHART 19 LAPAROSCOPY MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

CHART 20 ORTHOPEDICS MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

CHART 21 NEUROLOGY MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

CHART 22 SPECIAL EDUCATION MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

CHART 23 OTHERS MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

CHART 24 MEDICAL ROBOTS MARKET SHARE BY REGIONS, 2017 AND 2023

CHART 25 NORTH AMERICA MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 26 EUROPE MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 27 ASIA PACIFIC MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 28 ROW MARKET REVENUE, 2017-2023 (USD BILLION)

CHART 29 MEDTRONIC PLC: OVERVIEW SNAPSHOT

CHART 30 MEDTRONIC PLC: BUSINESS SEGMENTS

CHART 31 MEDTRONIC PLC: GEOGRAPHIC PRESENCE

CHART 32 MEDTRONIC PLC: SWOT ANALYSIS

CHART 33 STRYKER CORP.: OVERVIEW SNAPSHOT

CHART 34 STRYKER CORP.: BUSINESS SEGMENTS

CHART 35 STRYKER CORP.: GEOGRAPHIC PRESENCE

CHART 36 STRYKER CORP.: SWOT ANALYSIS

CHART 37 INTUITIVE SURGICAL, INC.: OVERVIEW SNAPSHOT

CHART 38 INTUITIVE SURGICAL, INC.: BUSINESS SEGMENTS

CHART 39 INTUITIVE SURGICAL, INC.: GEOGRAPHIC PRESENCE

CHART 40 INTUITIVE SURGICAL, INC.: SWOT ANALYSIS

CHART 41 BOSTON SCIENTIFIC CORP.: OVERVIEW SNAPSHOT

CHART 42 BOSTON SCIENTIFIC CORP.: BUSINESS SEGMENTS

CHART 43 BOSTON SCIENTIFIC CORP.: GEOGRAPHIC PRESENCE

CHART 44 BOSTON SCIENTIFIC CORP.: SWOT ANALYSIS

CHART 45 MAZOR ROBOTICS: OVERVIEW SNAPSHOT

CHART 46 MAZOR ROBOTICS: BUSINESS SEGMENTS

CHART 47 MAZOR ROBOTICS: GEOGRAPHIC PRESENCE

CHART 48 MAZOR ROBOTICS: SWOT ANALYSIS

 

 

 

Tables

 

TABLE 1 MEDICAL ROBOTS: ADVANTAGES AND DISADVANTAGES

TABLE 2 KEY STAKEHOLDERS OF MEDICAL ROBOTS MARKET

TABLE 3 MEDICAL ROBOTS MARKET REVENUE BY PRODUCTS, 2017-2023 (USD BILLION)

TABLE 4 MEDICAL ROBOTIC SYSTEM MARKET REVENUE, 2017-2023 (USD BILLION)

TABLE 5 MEDICAL ROBOTS MARKET REVENUE BY APPLICATIONS BY SURGICAL AREAS, 2017-2023 (USD BILLION)

TABLE 6 MEDICAL ROBOTS MARKET REVENUE BY REGIONS, 2017-2023 (USD BILLION)

TABLE 7 DRO: NORTH AMERICA

TABLE 8 NORTH AMERICA MARKET REVENUE BY PRODUCTS, 2017-2023 (USD BILLION)

TABLE 9 MEDICAL ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

TABLE 10 NORTH AMERICA MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

TABLE 11 DRO: EUROPE

TABLE 12 EUROPE MARKET REVENUE BY PRODUCTS, 2017-2023 (USD BILLION)

TABLE 13 MEDICAL ROBOTICS SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

TABLE 14 EUROPE MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

TABLE 15 DRO: ASIA PACIFIC

TABLE 16 ASIA PACIFIC MARKET REVENUE BY PRODUCT TYPE, 2017-2023 (USD BILLION)

TABLE 17 MEDICAL ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

TABLE 18 ASIA PACIFIC MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

TABLE 19 DRO: ROW

TABLE 20 ROW MARKET REVENUE BY PRODUCT TYPE, 2017-2023 (USD BILLION)

TABLE 21 MEDICAL ROBOTIC SYSTEMS MARKET REVENUE, 2017-2023 (USD BILLION)

TABLE 22 ROW MARKET REVENUE BY APPLICATIONS IN SURGICAL AREAS, 2017-2023 (USD BILLION)

TABLE 23 BALT EXTRUSION S.A.: SNAPSHOT

TABLE 24 CYBERONICS INC.: SNAPSHOT

TABLE 25 EKSO BIONICS HOLDINGS: SNAPSHOT

 

Medtronic, Stryker, Intuitive Surgical, Boston Scientific, Mazor Robotics, BALT Extrusion, Cyberonics, and Ekso Bionics.


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