Report Overview

The global medical robots market is flourishing by leaps and bounds and was worth USD 8.7 billion in the year 2020. The market is further projected to grow at a CAGR of 14.9% and to reach worth USD 22.8 billion during the forecast period (2021-2027).

Global Medical Robots Market- Industry Trends & Forecast Report 2027

The global medical robots market is flourishing by leaps and bounds and was worth USD 8.7 billion in the year 2020. The market is further projected to grow at a CAGR of 14.9% and to reach worth USD 22.8 billion during the forecast period (2021-2027). Robot-assisted training and surgeries are used for a variety of purposes, including surgeries, recovery, and more. They provide several advantages over traditional healthcare services. Furthermore, the high accuracy offered by robots, combined with the industry's growing focus on research and development, are significantly contributing to the market's growth.

Source: BlueWeave Consulting

Global Medical Robots Market- Overview

Medical robots are fast, efficient, and accurate in their execution of tasks. These robots are becoming more common these days because, as compared to human surgeons, they are capable of performing vital and complicated surgeries with extreme precision. The application of robots in the medical industry is very vast. Robots are nowadays increasingly used in orthopedic surgery, laparoscopy, emergency medicine, neurosurgery, and a variety of other medical fields. Robotic surgery has a high success rate, which is why it is gaining popularity worldwide.

Due to the increasing incidences of chronic diseases, an aging global population, enhanced reimbursement strategies, and public initiatives and funding to develop technologically advanced devices, the global medical robots market is expected to grow at a rapid pace during the forecast period.

Global Medical Robots Market Forecast and Trends

Growth Drivers

Increase in Laparoscopic Surgical Procedures

Robot-assisted laparoscopic surgery is one of the most commonly performed general surgical procedures. In recent years, there has been a rapid transition toward robot-assisted laparoscopic surgical procedures over traditional surgeries. This is because these surgeries are minimally invasive and offer lower risks as they involve smaller incisions on the body which ensures little blood loss. Robotic-assisted services are highly efficient in performing laparoscopic surgeries and offer high precision. Surgical robots are being devised to expand human surgeons' capacities beyond the limitations of traditional laparoscopy. As a result, the demand for these robots is gaining traction and is expected to multiply during the forecast period, thereby propelling the growth of the global medical robots market.

The Precision Offered by Robot-Assisted Surgeries

The medical robots are highly efficient and can perform minimally invasive surgeries with ease as compared to human surgeons. In comparison to traditional open surgery, robotic surgery requires fewer incisions, which reduces pain and scarring while also allowing for a shorter hospital stay and quicker recovery. Therefore, robot-assisted surgeries are getting more and more popular among patients. Hospitals are, therefore, increasingly investing in medical robots, which is fueling the growth of the medical robots market. Robot-assisted surgeries are also beneficial to surgeons because it allows them to perform complicated surgical procedures that would have been challenging, without the assistance of the robot.

Restraints

Expensive Robotic System and Devices may hinder the Market

The manufacturing of medical robots involves high production costs which may hinder the market growth as not many hospitals and private clinics can afford such a large investment. Moreover, the hospitals equipped with those medical robots only use them for complicated and life-saving procedures. In addition, the costs of maintaining these devices put additional financial pressure on healthcare facilities. Additionally, hospital budget cuts have stifled the introduction of medical robots. What’s more, over the forecast era, the lack of qualified medical professionals and safety issues concerning robotic surgery systems are expected to restrict the adoption of medical robotics.

Impact of Covid-19 on Global Medical Robots Market

The COVID-19-induced pandemic situation has had a negative impact on the global medical robots market. As soon as the WHO declared the novel coronavirus a pandemic, numerous non-emergency surgical procedures were postponed or canceled to prevent the spread of the virus, resulting in a significant drop in demand for medical robots.

Furthermore, due to the economic recession in several countries and the unavailability of resources, the healthcare system went under a lot of strain. As a result, the investments in medical robots were cut down tremendously due to which the demand for medical robots witnessed a sudden slump. However, the demand for medical robots is likely to return to pre-COVID levels by 2022.

Global Medical Robots Market - By Product

Based on product, the global medical robots market is segmented into surgical robots, rehabilitation robots, telepresence robots, and others. Among these, the surgical robots registered the highest demand in the year 2020 and are further estimated to grow during the forecast period. Surgical robots are self-powered devices controlled by computers. These robots can be programmed to assist with surgical instrument positioning and manipulation, which in turn increases the precision, flexibility, and control of surgeons. The growing demand for surgical robots across the globe is driving the growth of the global medical robots market.

Global Medical Robots Market - By End-User

Based on end-user, the global medical robots market is categorized into hospitals, ambulatory, surgery centers, rehabilitation centers, and others. The hospital segment held the largest market share in the year 2020 and is further estimated to grow at an impressive CAGR in the forecast period. The rising adoption of medical robots in hospitals for conducting various medical procedures, along with the rising number of people approaching hospitals for surgeries is expected to fuel the market demand for medical robots during the forecast period.

Global Medical Robots Market - Regional Insights

Geographically, the global medical robots market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle-East & Africa (MEA). North America dominated the market in the year 2020 with the highest market share. The region's advanced healthcare infrastructure is a major factor driving the growth of the medical robots market in North America. Furthermore, with a high GDP and per capita income, healthcare expenditure is also high in the region, which drives the demand for hospital and surgical robots for critical surgeries in North America.

Competitive Landscape

The leading players of the global medical robots market are Smith & Nephew, Zimmer Biomet, Intuitive Surgical, Inc., Ekso Bionics, BIONIK, Stryker, Cyberdyne, Inc., Medtronic, Accuray, ARxIUM, Hocoma AG, BD Rowa, Omnicell, Inc., Varian Medical Systems, Renishaw plc., Mckesson Corporation, Intouch Technologies Inc., Capsa Healthcare, Aethon, and other prominent players.

The competitive landscape of this market is very consolidated with only a few players dominating the larger share in the market. The companies are focusing and investing huge amounts into research and development for launching new products and expanding their product portfolio for market growth.

Recent Development

• In February 2021, SS Innovations—an India-based non-profit organization aiming to expand access to robotic surgical procedures through clinical experience, patient outreach, and technological development, announced its plan to commercially launch India's first and the world's most affordable general robotic surgery platform within the next 4-6 months.

• In October 2020, Medical Microinstruments, based in Italy, unveiled its Symani Surgical System, a robotic device that enables surgeons to execute some of the most complex microsurgeries with greater accuracy and fewer complications.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2017-2020
	Base Year – 2020
	Forecast – 2021 – 2027
Facts Covered	Revenue in USD Million
Market Coverage	North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa
Product Service/Segmentation	By Product, By End-User, By Region
Key Players	Smith & Nephew, Zimmer Biomet, Intuitive Surgical, Inc., Ekso Bionics, BIONIK, Stryker, Cyberdyne, Inc., Medtronic, Accuray, ARxIUM, Hocoma AG, BD Rowa, Omnicell, Inc., Varian Medical Systems, Renishaw plc., Mckesson Corporation, Intouch Technologies Inc., Capsa Healthcare, Aethon, and other prominent players.

 

By Product

• Surgical Robots

• Rehabilitation Robots

• Telepresence Robots

• Others

By End-User

• Hospitals

• Ambulatory

• Surgery Centers

• Rehabilitation Centers

• Others

By Region

• North America

• Europe

• Asia-Pacific (APAC)

• Latin America (LATAM)

• Middle-East & Africa (MEA)

 

1.  Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary and Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary and Secondary Sources

2.3. Breakdown of Primary Research Respondents

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Medical Robots Market – Industry Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunity

4.1.4.   Challenges

4.2. Recent Developments / Technical Landscape

4.3. Regulatory Framework

4.4. Porter’s Five Forces Analysis

4.5. Value Chain Analysis

4.6. PESTEL Analysis

4.7. Strategic Outlook

5.    Global Medical Robots Market Overview

5.1. Market Estimates & Forecast by Value, 2017-2027

5.1.1.   By Value (USD Million)

5.1.2.   By Volume (Thousand Units)

5.2. Market Share & Forecast

5.2.1.   By Product

5.2.1.1. Surgical Robots

5.2.1.2. Rehabilitation Robots

5.2.1.3. Telepresence Robots

5.2.1.4. Others

5.2.2.   By End-User

5.2.2.1. Hospitals

5.2.2.2. Ambulatory

5.2.2.3.  Surgery Centers

5.2.2.4. Rehabilitation Centers

5.2.2.5. Others

5.2.3.   By Region

5.2.3.1. North America

5.2.3.2. Europe

5.2.3.3. Asia-Pacific (APAC)

5.2.3.4. Latin America (LATAM)

5.2.3.5. Middle-East & Africa (MEA)

6.    North America Medical Robots Market Overview

6.1. Market Size and Forecast

6.1.1.   By Value (USD Million), 2017-2027

6.2. Market Share and Forecast

6.2.1.   By Product

6.2.2.   By End-user

6.2.3.   By Country

6.2.3.1. U.S.

6.2.3.2. Canada

7.    Europe Medical Robots Market Overview

7.1.     Market Size and Forecast

7.1.1.   By Value (USD Million), 2017-2027

7.2.     Market Share and Forecast

7.2.1.   By Product

7.2.2.   By End-user

7.2.3.   By Country

7.2.3.1.   Germany

7.2.3.2.   U.K.

7.2.3.3.   France

7.2.3.4.   Italy

7.2.3.5.   Spain

7.2.3.6.   Russia

7.2.3.7.   Netherlands

7.2.3.8.   Rest of Europe

8.    APAC Medical Robots Market Overview

8.1.     Market Size and Forecast

8.1.1.   By Value (USD Million), 2017-2027

8.2.     Market Share and Forecast

8.2.1.   By Product

8.2.2.   By End-user

8.2.3.   By Country

8.2.3.1.   China

8.2.3.2.   India

8.2.3.3.   Japan

8.2.3.4.   South Korea

8.2.3.5.   Rest of APAC

9.    LATAM Medical Robots Market Overview

9.1.     Market Size and Forecast

9.1.1.   By Value (USD Million), 2017-2027

9.2.     Market Share and Forecast

9.2.1.   By Product

9.2.2.   By End-user

9.2.3.   By Country

9.2.3.1.   Mexico

9.2.3.2.   Brazil

9.2.3.3.   Rest of LATAM

10.MEA Medical Robots Market Overview

10.1.   Market Size and Forecast

10.1.1.                By Value (USD Million), 2017-2027

10.2.   Market Share and Forecast

10.2.1.                By Product

10.2.2.                By End-user

10.2.3.                By Country

10.2.3.1.              Saudi Arabia

10.2.3.2.              UAE

10.2.3.3.              South Africa

10.2.3.4.              Rest of Europe

11.Competitive Landscape

11.1.1.                List of Key Producers and Their Offerings

11.1.2.                Market Share / Ranking Analysis (2020)

11.1.3.                Competitive Benchmarking, By Operating Parameters

12.COVID-19 Impact

12.1.             Future Impact

12.2.             Key Developments during COVID-19

12.3.             Impact on Market

12.3.1.                Different Scenario

12.3.2.                Impact on Companies

12.4.             Regional Impact

13.Key Strategic Recommendations

14. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

14.1.             Smith & Nephew

14.2.             Zimmer Biomet

14.3.             Intuitive Surgical, Inc.

14.4.             Ekso Bionics

14.5.             BIONIK

14.6.             Stryker

14.7.             Cyberdyne, Inc.

14.8.             Medtronic

14.9.             Accuray

14.10.          ARxIUM

14.11.          Hocoma AG

14.12.          BD Rowa

14.13.          Omnicell, Inc.

14.14.          Variun Medical Systems

14.15.          Renishaw plc.

14.16.          Mckesson Corporation

14.17.          Intouch Technologies Inc.

14.18.          Capsa Healthcare

14.19.          Aethon

14.20.          Other Prominent Players

 

* Financial information of non-listed Companies will be provided as per availability

 

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

 

 

List of Figures

 

Fig: Global Medical Robots Segmentation

 

Fig: Global Medical Robots Market Value Chain Analysis,

 

Fig: Company Market Share Analysis, 2020

 

Fig: Global Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: Global Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: Global Medical Robots Market Share (%), By End Users, By Value, 2017-2027

 

Fig: Global Medical Robots Market Share (%), By Country, By Value, 2017-2027

 

Fig: North America Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: North America Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: North America Medical Robots Market Share (%), By End Users, By Value, 2017-2027

 

Fig: North America Medical Robots Market Share (%), By Country, By Value, 2017-2027

 

Fig: Europe Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: Europe Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: Europe Medical Robots Market Share (%), by End Users, By Value, 2017-2027

 

Fig: Europe Medical Robots Market Share (%), By Country, By Value, 2017-2027

 

Fig: Asia-Pacific Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: Asia-Pacific Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: Asia-Pacific Medical Robots Market Share (%), By End Users, By Value, 2017-2027

 

Fig: Asia-Pacific Medical Robots Market Share (%), By Country, By Value, 2017-2027

 

Fig: Latin America Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: Latin America Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: Latin America Medical Robots Market Share (%), By End Users, By Value, 2017-2027

 

Fig: Latin America Medical Robots Market Share (%), By Country, By Value, 2017-2027

 

Fig: Middle East & Africa Medical Robots Market Size, By Value (USD Million), 2017-2027

 

Fig: Middle East & Africa Medical Robots Market Share (%), By Product, By Value, 2017-2027

 

Fig: Middle East & Africa Medical Robots Market Share (%), By End Users, By Value, 2017-2027

 

Fig: Middle East & Africa Medical Robots Market Share (%), By Region, By Value, 2017-2027

 

 

 

List of Tables

 

Table: North America Medical Robots Market Size, By Product, By Value (USD Million), 2017-2027

 

Table: North America Medical Robots Market Size, By End-User , By Value (USD Million), 2017-2027,

 

Table: Europe Medical Robots Market Size, By Product, By Value (USD Million), 2017-2027

 

Table: Europe Medical Robots Market Size, By End User Type, By Value (USD Million), 2017-2027

 

Table: the Asia-Pacific Medical Robots Market Size, By Product, By Value (USD Million), 2017-2027

 

Table: the Asia-Pacific Medical Robots Market Size, By End User Type, By Value (USD Million), 2017-2027

 

Table: Latin America Medical Robots Market Size, By Product, By Value (USD Million), 2017-2027

 

Table: Latin America Medical Robots Market Size, By End User Type, By Value (USD Million), 2017-2027

 

Table: The Middle-East & Africa Medical Robots Market Size, By Product, By Value (USD Million), 2017-2027

 

Table: The Middle-East & Africa Medical Robots Market Size, By End User Type, By Value (USD Million), 2017-2027

 

 

Table: Smith & Nephew Financial Analysis

Table: Smith & Nephew Business Overview

Table: Zimmer Biomet Financial Analysis

Table: Zimmer Biomet Business Overview

Table: Intuitive Surgical, Inc. Financial Analysis

Table: Intuitive Surgical, Inc. Business Overview

Table: Ekso Bionics Financial Analysis

Table: Ekso Bionics Business Overview

Table: BIONIK Financial Analysis

Table: BIONIK Business Overview

Table: Stryker Financial Analysis

Table: Stryker Group Business Overview

Table: Cyberdyne, Inc. Financial Analysis

 

Table: Cyberdyne, Inc. Business Overview

Table: Medtronic Financial Analysis

Table: Medtronic Business Overview

Table: Accuray Financial Analysis

Table: Accuray Business Overview

Table: ARxIUM Financial Analysis

Table: ARxIUM Business Overview

Table: Hocoma AG Financial Analysis

Table: Hocoma AG Financial Analysis

Table: BD Rowa Financial Analysis

Table: BD Rowa Business Overview