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Medical Robotic Systems Market to Touch US$ 25,738.8 Million by 2025; Surgical Robots Segment Dominates the Market - TMR
ALBANY, New York, July 18, 2019 /PRNewswire/ -- According to the new report published by Transparency Market research the global medical robotic systems market is expected to reach an overall market valuation of US$25,738 mn by the end of 2025. Such high growth of the medical robotic systems market is projected to be achieved with the help of a staggering CAGR of 18.9% over the course of the given forecast period from 2017 to 2025.
The US Market to Continue its Dominance across the Medical Robotic Systems Market
From countries and sub-regional perspective, the medical robotic systems market is segmented into the US, the UK, Italy, Sweden, Spain, Russia, India, China, Brazil, Singapore, South Africa, Netherlands, Saudi Arabia, and Rest of the World. Of these, the US market for medical robotic systems is expected to lead in terms of revenue generation. This dominance of the US market is mainly attributed to the early access to the new and upcoming medical technologies, highly developed medical and healthcare infrastructure, and growth in the adoption of advanced medical equipment. The US market is projected to show a high CAGR of 18.4% over the course of the given forecast period of 2017 to 2025. Other key factors influencing this high growth is a rise in the number of research and development activities, increasing investments in the healthcare sector, and the rise in demand for quick and safe minimally invasive surgical procedures.
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According to the report, the surgical robots segment of the global medical robotic systems market is anticipated to account for the biggest revenue share over the given forecast period. Launch of new products, the growing purchasing power of hospitals, and constant technological advancements are some of the key driving factors for the surge in the growth of surgical robots segment. One such instance of increasing adoption surgical robots can be traced back to October 2017 when TransEnterix Inc. got the FDA 510(k) clearance for the use of Senhance Surgical Robotic System. It is a multi-port robotic system that offers surgeons with services such as eye sensing camera control and haptic feedback.
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Strategic Acquisitions is Key for Leading Players in the Medical Robotic Systems Market
The research report offers a complete profile of some of the leading players in the global medical robotic systems market. Some of the key players in the market include names such as Intuitive Surgical Inc., Stryker, Accuray Incorporated, ReWalk Robotics, Hansen Medical Inc., Titan Medical Inc., Aethon, Medtech SA, and Sterotaxis Inc., among others. The leading players in the medical robotic systems market offer products with flagship technologies. For example, Accuray Incorporated provides CyberKnife technology and Intuitive Surgical Inc. provides the da Vinci Surgical System.
In 2019, the FDA issued clearance to ReWalk Robotics for the ReStore™ Exo-Suite. The suite is the first-ever soft robotic system for stroke therapy. In October 2018, Aethon announced that it is expanding its series of autonomous mobile robots (AMR) and will soon launch the latest product of TUG Robot –T4.
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There has also been a surge in the strategic acquisitions among players to bolster their existing product portfolio in the medical robotic systems market. For example, in April 2016, Auris Medical took over Hansen Medical. Hansen has expertise in intravascular robotic catheter systems and provides flagship technologies such as Magellan Robotic System and Sensei Robotic Catheter System. The competition is likely to intensify with several players pouring in money in the global medical robotic systems market.
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This review is based on the research report published by Transparency Market Research titled, "Medical Robotic Systems Market ( Product Type - Surgical Robots (Orthopedic Robotic Systems, Neurosurgery Robotic Systems, General Laparoscopy Robotic Systems, Steerable Robotic Catheters), Non-invasive Radiosurgery Robotic Systems, Emergency Response Robotic Systems, Prosthetics/Exoskeletons, Assistive and Rehabilitation Systems, Non-medical Robotics in Hospitals (Telemedicine Robots, Cart Transportation Robots, and Robotic Hospital Pharmacies)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025"
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