Global medical robotic systems market revenue is expected to reach USD 17.89 billion by 2022, according to a new report by Grand View Research, Inc. Key drivers of this market include the increasing demand for robotic surgeries, constant improvement in healthcare infrastructure in emerging economies, improving reimbursement policies and increasing awareness levels amongst healthcare establishments, and practitioners.
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Further key findings from the study suggest:
- The introduction of new generation robotic systems integrated with advanced data recorders, remote navigation systems, HD microscopic cameras, data analytic systems, motion sensors; 3D-Imaging and robotic controlled catheters are further expected to boost demand over the forecast period
- Surgical robots was the largest product segment at over 60.0% in 2014, owing to the increasing number of robotic surgeries performed and increase in patient acceptance pertaining to assisted minimally invasive surgeries.
- Non medical hospital robotic systems are identified as the fastest growing product segment. Key factors accounting for this rapid growth include growing interest in telemedicine robots and cart robots which improve the automation in the hospital sector and also improve the patient care.
- On the basis of application, laparoscopy enabled systems accounted for the largest revenue share at 80.0% in 2014. Increase in geriatric population and rise in the prevalence of neurological disorders such as brain tumors, strokes, and spinal disorders are some factors expected to drive segment growth over the forecast period.
- In 2014, North America was the largest regional market with revenue share valued at over 40% owing to, the presence of advanced healthcare infrastructure, increasing demand for robot assisted surgeries, better reimbursement policies and the increasing geriatric population.
- Asia Pacific market is the most lucrative in terms of future growth. The presence of high unmet medical needs, growth in public and private healthcare investment, improving reimbursement framework, and the increasing healthcare expenditure levels.
- The global industry share is majorly dominated by companies such as Intuitive Surgical Inc., Mazor Robotics and Hansen.
- Other players like Accuray, S.R.L, Health robotics Varian, Reninshaw Plc. have developed products and applications catering to certain niche areas to establish market domination.
For the purpose of this report, Grand View Research has segmented the market on the basis of product, application and region:
Table of Content
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Medical Robotic Systems Industry Outlook
3.1 Market segmentation
3.2 Market size and growth prospects, 2012 - 2022
3.3 Medical robotic systems market dynamics
3.3.1 Market driver analysis
184.108.40.206 Increasing prevalence of diseases like cancer neurological disorders and cardiovascular diseases
220.127.116.11.1 Neurological disorders
18.104.22.168 Increasing global geriatric population
22.214.171.124 Increasing MIS surgeries
126.96.36.199.1 Volume of minimally invasive surgeries, 2005-2014 (Thousand)
188.8.131.52 Increasing usage of medical robotics in the U.S.
184.108.40.206 Technological advancements for medical robotics
220.127.116.11 Introduction of cost effective medical robots
3.3.2 Market restraint analysis
18.104.22.168 Presence of stringent regulatory framework
22.214.171.124 Capital intensive market
126.96.36.199 Lack of reimbursement policy
3.4 Key Opportunities Prioritized: Product
3.5 Industry analysis – Porter’s
3.6 Medical robotic systems – PESTEL Analysis
3.7 Medical robotic systems company market share analysis
For More Details: Grand View Research