Medical Robotics Systems Market Size, Share, Trends, Growth 2032

Medical Robotics Systems Market Industry Perspective:

The global medical robotics systems market size was worth USD 15,295.20 Million in 2021 and is estimated to grow to USD 38,834.00 Million by 2028, with a compound annual growth rate (CAGR) of approximately 16.80 percent over the forecast period. The report analyzes the medical robotics systems market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the medical robotics systems market.

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Medical Robotics Systems Market: Overview

Medical robot systems are used in various medical applications, such as surgery, and vary from application to application. These include surgical robot systems, spinal robot systems, laparoscopic robot systems, and rehabilitation robot systems. The main drivers of this market growth are robotic surgery and robot training in rehabilitation therapy, technological advances in robotic systems, improved redemption scenarios, increased adoption of surgical robots, and increased funding for medical robot research.  The pathological and psychological changes that occur with age make the elderly population more likely to be affected by injuries and other illnesses that require surgical intervention. Increasing demand for accurate laparoscopic surgery and increasing rates of trauma are key factors driving the market growth. In addition, increased technological advances in medical devices and higher per capita medical costs are expected to drive the emerging markets. A major challenge expected to impede market growth is the high price of robotic systems. Robotic surgery is more expensive than other surgery.

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Covid-19 Impact

Pandemics have had a negative impact on the global medical robotics systems market. The pandemic temporarily banned elective surgery around the world and stopped it around the world. Approximately 28 million surgeries worldwide were canceled during the 12-week peak of the COVID-19 pandemic, according to a report published by researchers at CovidSurg Collaborative. The decline in surgery led to a decline in revenue of the market as it was unable to generate revenue from sales of the instruments and accessories segment.

Key Insights:

• The global medical robotics systems market was worth around USD 15,295.20 Million in 2021 and is estimated to grow to about USD 38,834.00 Million by 2028, with a compound annual growth rate (CAGR) of approximately 16.80 percent over the forecast period.
• Technological advances and increased acceptance of surgeons or patients for laparoscopic surgery and robotic assistance are expected to drive market growth during the forecast period.
• Strict regulations on identified medical robot systems are hampering market growth.
• North America dominates the market for medical robotics systems with a strong foundation of medical facilities. The large market share and high growth rate in this segment are primarily due to regular purchases of equipment and accessories, as opposed to robotic systems, which are a one-time investment.

Medical Robotics Systems Market: Growth Drivers

Advantages of robotic-assisted surgery & robot-assisted training in rehabilitation therapy to drive market

Growing demand for minimally invasive surgery (MIS), primarily because of the benefits of these procedures, such as savings. Minimally invasive robotic surgery contributes to these benefits by ensuring higher accuracy and reproducibility, as well as better control and efficiency. According to a 2018 article on laparoscopic hysterectomy gynecological studies, the conversion rate from straight stick laparoscopic surgery to open surgery was 25%. On the other hand, procedures using robotic platforms usually show conversion rates of less than 5%, reducing morbidity and blood loss. Robotic surgery also provides the surgeon with advanced visualization capabilities that provide a superior view of the surgical field by visualizing the structure down to the microscopic level using an HD camera.

Medical Robotics Systems Market: Restraints

The high price of robotic systems limits the market growth

Robotic surgery is much more expensive than minimally invasive surgery. The American College of Obstetrics and Gynecology recommends robotic hysterectomy only for abnormal and complex clinical conditions. The association states that introducing robotic surgery for all hysterectomies will increase the annual cost of hysterectomy in the United States by an estimated $ 960 million. One of the most commonly used robotic systems, the da Vinci system, costs between $ 1.5 million and $ 2.5 million, while the CyberKnife Radiation Surgery Robot System costs about $ 4 million to $ 700 per unit. Similarly, the average price of a Lokomat rehab robot is about $ 380,000.

Medical Robotics Systems Market: Opportunities

Emerging markets and growing medical tourism to bring up growth prospects for the market

Emerging markets are expected to provide significant opportunities for players in the global medical robotics systems market, primarily due to the increasing adoption of surgical robots in surgery. In emerging markets, the number of surgeries has continued to increase over the last decade due to an increase in the number of patients and medical tourism. In addition, emerging countries like India offer radiation therapy options at a lower cost than developed countries, creating opportunities for the market.

Medical Robotics Systems Market: Segmentation

The global medical robotics systems market is segregated on the basis of product & service, application, end-user, end user, and region.

By product & service, the market is divided into instrument & accessories, robotic systems, and services. Among these, the instrument & accessories segment dominates the market.

The market, by application, is classified into laparoscopy, orthopedic surgery, pharmacy applications, physical rehabilitation, external beam radiation therapy, neurosurgery, and other applications. Over the forecast period, the laparoscopy segment is expected to develop at the fastest rate owing to increasing surgical laparoscopic procedures conducted globally and the increasing adoption of surgical robots. 

By end-user, the market is classified into on-premise solutions, cloud-based solutions, hospitals, ambulatory surgery centers, rehabilitation centers, and other end users. The hospital segment dominated the market during the forecast period owing to the higher adoption of medical robots in hospitals and increasing robotic surgery procedures conducted in hospitals. 

Recent Developments

• In 2020, Stryker Corporation (USA) received official approval from the Japanese robot-assisted surgery system MAKO for partial knee indications.
• In 2020, Accuray (USA) will launch a next-generation cyberknife platform with advanced precision, and artificial intelligence (AI) controlled real-time motion tracking and synchronous therapy for all stereotactic radiotherapy (SRS) and stereotactic radiotherapy. Launched the CyberKnife S7 system. (SBRT) Treatment.

Report Scope:

Medical Robotics Systems Market: Regional Landscape

Rising technological advancements in medical robots help to boost the North American market

North America has the largest global share in the medical robotics systems market due to the increasing technological advances of medical robots by medical companies and the increasing demand for these robots to perform laparoscopic surgery. For example, in June 2021, Accuray Inc. announced the launch of the RayStation treatment planning system for robotic radiation therapy systems, the Cyberknife M6 and S7. The system provides fast and accurate dose calculations and enables real-time dose adjustment.

 Increased investment by key players in the growth of advanced devices, an increase in the number of patients opting for minimally invasive surgery, and an increase in the number of research activities in the region are likely to drive the market in Asia Pacific. Increased government awareness initiatives, increased medical tourism, increased research activities in the region, increased acute & chronic diseases cases, and increased demand in the Asia-Pacific region during the forecast period will further bring significant regional market growth.

Medical Robotics Systems Market: Competitive Landscape

some of the main competitors dominating the global medical robotics systems market include renishaw, intuitive surgical, stryker corporation, accuray, dickinson and company, medtronic, omnicell, zimmer biomet, smith & nephew, becton, hocoma ag, cyberdyne, ekso bionics, arxium, transenterix, rewalk robotics, cmr surgical, gollmann kommissioniersysteme gmbh, bionik laboratories corp., auris health, and avateramedical gmbh, zap surgical systems.

Global medical robotics systems market is segmented as follows:

 By Product & Service

• Instrument & Accessories
• Robotic Systems
• Services

By Application

• Laparoscopy
• Orthopedic Surgery
• Pharmacy Applications
• Physical Rehabilitation
• External Beam Radiation Therapy
• Neurosurgery
• Other Applications

By End User

• On-premise solutions
• Cloud-based solutions
• Hospitals
• Ambulatory Surgery Centers
• Rehabilitation Centers
• Other End Users

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa