Medical Robots Market Demand 2019 to Escalated by Automation of Processes Overview on 10 Companies Based on the Product, Component and End-User

Medical robots are automated machines manufactured for specialized medical applications. These robots can perform various medical tasks such as surgery, medical test, and patient monitoring. A surgery by medical robots requires a pre-surgical planning by a surgeon. The use of medical robots in surgery has several advantages such as high accuracy in open surgery and minimally invasive surgery, reduction in time required for surgery, and ability to transport patients from one location to another in a hospital.

Technological advancements have further allowed surgeon to remotely operate robots and perform surgeries. Telesurgery can be used to perform a surgical procedure in emergency situations using an imaging device.

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Technological advancements in the recent past has also reduced cost of products, which in turn has helped to increase adoption of medical robots in various applications. Although the first use of robotic technique in the healthcare sector dates back to 1985, the da Vinci robot, in 2000, became the first to receive the U.S.FDA approval for performing surgical procedures. The da Vinci robot is well-known for its application in cardiac surgery, head and neck surgery, and urologic surgery. According to the stats released by Emergency Care Research Institute (ECRI), as of 2014, one in every four hospitals in the U.S. deployed da Vinci robot. Furthermore, 570,000 procedures were performed in the U.S. by the robot in 2014, a phenomenal rise of 178% as compared to 2009.

Medical Robots Market Taxonomy:

Global Market by Application

• Laparoscopy
• Neurology
• Orthopedics
• Gynecology
• Urology
• Cardiology
• Others

Global Market by Product Type

• System
• Instrument and Accessories

Global Market by End User

• Hospitals
• Clinics
• Ambulatory Surgical Centers

Global Market by Geography

• North America
• Europe
• APAC
• Latin America
• Middle East
• Africa

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Increasing development in medical robots is expected to boost growth of the medical robots market over the forecast period

Increasing R&D activities related to medical robotics is expected to boost the market growth. For instance, in 2014, Intuitive Surgical Inc. launched its new da Vinci X robot and received the U.S. FDA approval on May 30, 2017. The advanced da Vinci robot is equipped with four mechanical arms for better movement, reach and dexterity. It can perform precise surgical procedures. Each arm of the robot can be controlled independently and can be assigned to do different tasks.

The development and adoption of medical robots is associated with high cost. This has majorly restricted its use in developed regions such as North America and Europe. According to ECRI, of all the da Vinci installation worldwide, 67% installation are in the U.S. Moreover, of all the da Vinci surgical procedures, 79% are performed only in the U.S. The high costs associated with medical robots has led to their slow adoption in emerging economies of Asia Pacific. However, increasing investment in the healthcare sector in the emerging economies of China and India and rapid economic growth in these countries is expected to increase adoption of medical robots in Asia Pacific.

Other factors that impact growth of the medical robots market include, increasing awareness regarding benefits of adoption of medical robots in surgeries and high number of surgical procedures, owing to increasing prevalence of chronic diseases such as cancer and lifestyle diseases such as diabetes and obesity. Furthermore, increase in insurance coverage is also expected to contribute to growth of the medical robots market. Major economies in the Middle East such as Turkey has high scarcity of healthcare professionals. According to the Organization for Economic Co-operation and Development (OECD), Turkey had 1.7 doctors per 1,000 population in 2012. This scenario is expected to offer lucrative growth opportunities for market players.

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However, high costs associated with purchase and maintenance of medical robots and related equipment and lack of trained surgeons to perform robotic surgery is expected to hinder the market growth.

Some major players in medical robots market include Intuitive Surgical, Inc., Stryker Corporation, Mazor Robotics Ltd, Hansen Medical Inc., Hocoma AG, Omnicell, Inc., Kirby Lester LLC, Accuray Incorporated, Ekso Bionics Holdings Inc. and Engineering Services Inc.

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