A wide-reaching Medical Robotic System Market report employs Porter’s Five Forces Model to understand an industry by analyzing five different criteria and how high the power, threat, or rivalry in each area is. These five criteria consist of Competitive rivalry, Threat of new entrants, Threat of substitution, Buyer power, and Supplier power. Whereas SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is employed to look at the internal strengths, weaknesses, and external opportunities and threats within the market. SWOT analysis highlights direct areas of opportunity which company can continue, build, focus on, and work to overcome.
The benefit of choosing Medical Robotic System Market research report is that it helps to find out new channels and messaging tips to help improve interactions. This market analysis report helps build the foundation for the business’ marketing strategy decisions. Industry research is an evolving process with new information and trends developing every day. Having access to the latest reports such as Medical Robotic System Market, on local and world marketing trends, sales, and products can allow answering critical market research questions. The universal Medical Robotic System Market report is valuable in improving company’s marketing and research strategies and additionally develops business opportunities.
Data Bridge Market Research analyses that the medical robotic system market is expected to undergo a CAGR of 17.80% during the forecast period. This indicates that the market value, which was USD 9.77 billion in 2021, would rocket up to USD 36.25 billion by 2029. “Instrument and Accessories” dominates the technology segment of the medical robotic system market owing to recurrent purchase of instruments and accessories as opposed to robotic systems. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Download Exclusive Sample Report (PDF with All Related Graphs & Charts) @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-robotic-systems-market
Competitive Landscape and Medical Robotic System Market Share Analysis
The medical robotic system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical robotic system market.
Market Definition
From the name itself, it is clear that medical robotic systems are the advanced medical systems that are based on the artificial intelligence principles, thereby utilizing robotics and automation during a medical procedure. A wide array of medical robotic systems are designed as per the need and the surgical site. Medical robotic systems provide greater accuracy and precision during a surgical procedure.
Major Players:-
iRobot Corporation (US), Medrobotics Corporation (US), Titan Medical Inc. (Canada), Hansen Technologies (Australia), Renishaw plc (UK), Intuitive Surgical (US), Medtronic (Ireland), DENSO Robotics Incorporated (US), Accuray Incorporated (US), Stryker (US), Varian Medical Systems, Inc. (UK), Stereotaxis, Inc. (US), Ekso Bionics (US), CYBERDYNE INC. (Japan), BIONIK (US), Smith+Nephew plc (UK), Zimmer Biomet (US)), Omnicell. Inc. (US), ARxIUM (Canada) among others.
Medical Robotic System Market Dynamics
Drivers
- Rising technological advancements
Surging technological advancements in the surgical equipment and technology has carved the way for the growth of the market. For example- Versius, a medical robot created by Cambridge-based CMR Surgical and is now in use in hospitals in France, Italy, the UK, and India. Also, increasing technological advancements in 3D-imaging, remote navigation, robotic catheter control system (CCS), motion sensors and others will further induce the market growth.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities and the penetration rate in certain geographies is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favour of the market.
Additionally, growing number of orthopaedic and cardiac surgeries, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and increasing demand for accurate laparoscopic surgeries among people, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, growing awareness about the benefits of robotically assisted surgeries, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, growing cases of road accidents and increasing per capita expenditure on health care will further expand the market’s growth rate in the future.
Restraints/Challenges Global Medical Robotic System Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and high cost of robotically assisted surgeries are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, requirement for high capital investments and for maintenance and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This medical robotic system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical robotic system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medical Robotic System Market
COVID-19 has significantly and negatively impacted the market. A temporary ban imposed by the government on elective surgeries shut the door of growth for the market. According to CovidSurg Collaborative, approximately 28 million surgeries were cancelled across the globe during the peak in this phase. This subsequently led to fall in demand for the deployment of this technology which obviously converted this into low revenue. Intuitive Surgical reported a decrease of around 20% in the daVinci surgical procedures and this was in the second quarter of 2020 itself. However, with the economies rising out of the pandemic, the market is projected to recover speedily owing to the rising patient population.
Recent Development
- November 2020 – Artificial Intelligence Technology Solutions, Inc. announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) had received an order from the global top 20 medical devices company with around 50,000 employees for what RAD expects as the first of several HSO (Health Screening Option) units to be deployed at one of their client’s manufacturing facilities.
For More Insights Get Detailed TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-medical-robotic-systems-market
Global Medical Robotic System Market Scope
The medical robotic system market is segmented on the basis of deployment type, products and services, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Deployment type
- On-premises
- Cloud Based
On the basis of deployment type, the medical robotic system market is segmented into on-premises and cloud based.
Products and services
- Instrument and Accessories
- Robotic Systems
- Services
On the basis of products and services, the medical robotic system is segmented into instrument and accessories, robotic systems and services. Robotic systems segment is further segmented into surgical robots, rehabilitation robots, noninvasive radiosurgery robots, hospital and pharmacy robots and emergency response robotic systems. Surgical robots are further segmented into orthopedic surgical robots, neurosurgical robotic systems, laparoscopy robotic systems and steerable robotic catheters. Rehabilitation robots are further segmented into assistive robots, prosthetics, orthotics, therapeutic robots and exoskeleton robotic systems. Noninvasive radiosurgery robots are further segmented into truebeam stx radiosurgery system, cyberknife robotic radiosurgery system and gamma knife perfexion radiosurgery system. Hospital and pharmacy robots are further segmented into telemedicine robots, I.V. Robots, pharmacy robots and cart transportation robots. Emergency response robots are further segmented into ls-1 robotic system and auto pulse plus robotic system.
Application
- Neurology
- Orthopedics
- Laparoscopy
- Special Education
On the basis of application, the medical robotic system market is segmented into neurology, orthopedics, laparoscopy and special education. Neurology is further segmented into pathfinder surgical system, neuromate surgical system and renaissance surgical system. Orthopedics is further segmented into iblock surgical system, robodoc surgical system, navio PFS surgical system, mako RIO surgical system and stanmore sculptor surgical system. Laparoscopy is further segmented into freehand endoscope holder system, da vinci robotic surgery system and telelap ALF-x surgical system.
End user
- Hospitals
- Ambulatory Surgical Centers
- Rehabilitation Centers
- Others
On the basis of end users, the medical robotic system market is hospitals, ambulatory surgical centers, rehabilitation centers and others.
Read More@ https://www.databridgemarketresearch.com/reports/global-medical-robotic-systems-market
Healthcare Infrastructure growth Installed base and New Technology Penetration
The medical robotic system market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical robotic system market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical robotic system market. The data is available for historic period 2010-2020.
Related Reports:-
Global Deep Transcranial Magnetic Stimulation (DTMS) Device Market – Industry Trends and Forecast to 2027
Global Smart Clothing Market – Industry Trends and Forecast to 2027
https://www.databridgemarketresearch.com/reports/global-smart-clothing-market
Global Healthcare CRM Market – Industry Trends and Forecast to 2028
https://www.databridgemarketresearch.com/reports/global-healthcare-crm-market
Global Compartment Syndrome Treatment Market – Industry Trends and Forecast to 2028
https://www.databridgemarketresearch.com/reports/global-compartment-syndrome-treatment-market
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Contact:
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
