April 26, 2015

Medical Robots Market Report 2014

Over the years, the demand for medical robots has increased significantly. This is due to the paradigm shift in the healthcare industry where emphasis is being laid on minimally invasive surgeries through the use of robots. The global medical robot market is categorized into five broad segments—surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmacy robots, and others.

Based on applications, the medical robots market comprises the following segments—neurology, orthopedics, laparoscopy, special education, and other areas. The medical robotics market was valued at $1,781 million in 2013 and is expected to reach $3,764 million by 2018, growing at a CAGR of 16.1% from 2013 to 2018. The surgical robots market commanded the largest % share of the global medical robots market in 2013 and is expected to reach more than $ billion value by 2018, growing at a double digit CAGR%. Surgical robots are further segmented into orthopedic surgical robots, neurosurgical robots, laparoscopy robotic systems, and steerable robotic catheters. The laparoscopic surgical robotic systems market accounted for the largest share of the global surgical robotics market, by segment, at an estimated $ million value in 2013. This segment is expected to reach $ multimillion value by 2018, at a double digit CAGR % from 2013 to 2018. However, the neurosurgery robotics market is the fastest-growing market and is expected to reach $ high multi-million $ value by 2018 at a double digit CAGR% from 2013 to 2018.

Surgical robots improve the accuracy of procedures and thus reduce the complication rates for surgeries. Apart from being accurate, robotic procedures also offer significant cost savings in terms of pre- and post-operation care costs and length of stay at hospitals. The technological advancements and breakthroughs in the field of medical robotics, such as expanded applications of robotic systems, robotics combined with imaging platforms, and capsule robot systems, among others, are expected to drive the global market in the coming years. The other factors that are driving the growth of the global medical robotics market include growth in aging population, increase in the incidences of neurological and orthopedic disorders, and growth in demand for telemedicine. Moreover, owing to the increased demand and usage of robot-assisted procedures, various government bodies are increasingly supporting the development of medical robots.

The key players in the global medical robotics market are Intuitive Surgical, Inc. (U.S.), Accuray, Inc. (U.S.), MAKO Surgical Corp. (U.S.), Mazor Robotics Ltd. (Israel), Hansen Medical, Inc. (U.S.), Titan Medical, Inc. (Canada), and Health Robotics S.R.L. (Italy), among others.

Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications’ web site.  View the report: Medical Robots Market by Type & Application – Global Forecasts to 2018.

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